Auto Leasing
Directions Credit Union offers a new vehicle lease* program. We have partnered with Credit Union Leasing of America (CULA), the nations largest indirect credit union leasing program, to offer you one of the most consumer-friendly lease programs available.
With Credit Union Lease™, your lease will be processed quickly and efficiently on site, right at your dealer’s office. With Credit Union Lease™, you’ll enjoy:
- Lower monthly payments - more car for your money
- Flexibility - build your term and mileage capacity to suit your needs (up to 60 months on specific year models)
- No prepayment penalties - early termination allowable
- Convenience - payments can be made at the credit union
- No security deposit required
- Lease end options
- Auto lease available up to 4 year old vehicles
- Gap insurance included
*Leasing available in certain markets.
How does it work?
It’s easy. After you negotiate your vehicle’s price tell your dealer you are a member of Directions Credit Union and have them use our CULA system to calculate your lease payment.
Our leasing program is currently only available at select dealerships, but we hope to get more dealers on board. If your dealership isn’t in the program, ask them to participate! Download a PDF list of Credit Union Lease™ participating dealers.
Read the following for more information about vehicle leasing:
What is leasing?
Leasing is paying for the use of a car, rather than actually paying for the car itself. The bottom line is that your lease payments cover the cost of the vehicle’s depreciation over the length of the term of the lease, instead of the vehicle’s actual purchase price. You (the "leasee") are expected to maintain the car during the lease, but when the lease is over you can either return the car or exercise the option to purchase it.
Is leasing right for you?
Leasing isn’t for everyone, but for those willing to accept certain limits, leasing offers an attractive and affordable means of driving a new car every few years. If you’re interested in leasing ask yourself the following questions:
- Do you become easily bored with a car after only a couple years of owning one?
- Is driving a new car more important to you than owning one?
- Do you maintain your car regularly, keeping it in a good condition at all times?
- Do you drive a consistent number of miles per year?
If you answered "yes" to two or more of these questions, than leasing may be right for you.
Lease vs. Loan Payment Comparison
Leasing can lower your monthly payments — giving you more car for you money!
Leasing is a great way to lower your monthly payments. Since you are only paying for the use of the car, rather than the actually paying for the car itself, the payments are considerably lower.
| Vehicle: 2003 (New) Dodge Ram 1500 Quad Cab SLT 4WD | ||
| MSRP: $31,620.00 | ||
| Lease | Loan | |
|---|---|---|
| Interest Rate | 5.99% | 5.99% |
| Sales Tax Rate | 6.25% | 6.25% |
| Term | 60 months | 60 months |
| Total Price | $31,620.00 | $31,620.00 |
| Monthly Payments | $413.43 | $611.26 |
| Total Payments | $24,805.60 | $36,675.60 |
| Difference in monthly payment: $197.83 | ||
| Life of lease savings: $11,870.00 | ||
