The Low Payment Auto Loan

Get behind the wheel with a new or pre-owned vehicle with a payment you can afford.

Looking for a lower monthly payment on your next auto loan? Sikorsky Credit Union's Advantage Auto Loan typically provides a monthly payment 20%-40% lower than most conventional auto loans. It's like a lease, but better!

The title is held in  your name, so you actually own the vehicle. At the end of your loan term you can turn in your vehicle, sell/trade it in if you are looking to get into something new, or simply refinance into a new Sikorsky Credit Union auto loan if you are interested in keeping the vehicle. Apply Now!

A Few Reasons To Consider An Advantage Auto Loan

  • A lower monthly payment than a conventional auto loan
  • Select a loan term option ranging from 24-72 months
  • You choose the mileage option that fits your budget
  • You own the vehicle (the title is in your name)
  • You choose whether you put money down or not

Compare the Advantage Auto Loan with a conventional loan and a lease here.

Frequently Asked Questions

How do I apply for an Advantage Auto loan?
If you are applying online, select Advantage Auto Loan under 'Type of Loan' on the loan application page. Once you fill out the application a representative from our Digital Branch Team will contact you. You can also apply in branch or over the phone.
How are payments different than a conventional loan?
The difference between what you pay for the vehicle and the residual value is used to determine the principal portion of your payment, which results in a lower monthly payment than conventional financing.
How is residual value determined?
Residual value is established based on the term of the loan using industry approved guidelines similar to leasing. The Advantage Auto Loan uses standard industry residual values. The residual value is not inflated to arrive at an arbitrary lower payment. This means if you elect to keep the vehicle upon loan termination you will not have to pay an inflated price to pay off the loan.
What are my mileage options?
You can select a 7,500, 10,000,12,000, 15,000, or 18,000 miles per year option. The excess mileage cost is only $.10 a mile, unlike leasing which can cost up to $.25 per mile. End of term fees only apply if you exercise the "walk- away" option.
Do you require a first or last payment?
No we do not. Many leases require the first and last payments to be made at the time of loan disbursement-our Advantage Auto Loan does not.
Can I pay off the loan early?
Yes you can. Because you own the vehicle you may pay the loan off, sell the vehicle, or use it as a trade-in at any time during the term of the loan—without any penalty. With a traditional lease these options typically come with a stiff "early termination" fee.
How can I keep the vehicle at the end of the term?
With traditional leasing, if you decide to keep your vehicle, you have to buy it out. Which means you'll pay tax, title and license on the vehicle you've been driving. With the Advantage Auto Loan, you simply refinance your balance into a conventional loan, no additional charges. It's already titled in your name.

*Loan rates and terms are determined by an individual's credit history, underwriting factors, loan-to-value and are subject to change without notice. Applications are subject to credit approval.