"They don't have to . F40Model Year: 2019 + Previous Generations; F20 / F21Model Year: 2012 - 2018. APY = Annual Percentage Yield Just like buying new? Also remember to add flair to your post by clicking the "Flair" link beneath it. Same APR. Penfed payment saver loan? Where the manufacturer is providing more rebates for purchase, versus lease. 2. junio 16, 2022 . Uses transunion credit for score. I have found cars with a 72 month term lower. It also has been off for many other makes too and that makes the payment way higher than it should. Further information is available in our FICO Data Privacy Policy. Retiree with a solid pension and half a century of on-time car payments? F40Model Year: 2019 + Previous Generations; F20 / F21Model Year: 2012 - 2018. For instance in 2014 I took out one for a loaded 781 Porsche Boxster S, fully loaded car. Bring back /u/chooter, Press J to jump to the feed. Financing Available for up to 110% of vehicle value. SoFi's starting interest rate is also lower than PenFed's but . Im sure the dealer can get it done. Ken had already updated the PenFed site to these new rates but haven't seen anything mentioned on the blog or in the forum. GPO's Payment Saver is a financing option that offers monthly payments that are considerably lower than conventional financing! I love pen fed dont get me wrong and have used the payment saver 7+ times, but it was so much better years ago. Quite honestly joining for the $5 minimum deposit is a no brainer just for the TDM discounts they offer. I ended up taking the truck even though it was more expensive because I'd rather take the risk on a truck instead of what will be an 7-8 year old cadillac at the end of the loan. I had no problems getting 3 approvals at other banks at top rates inculding through BMW. Press question mark to learn the rest of the keyboard shortcuts. Where the manufacturer has restrictive lease terms, for example Tesla or Mercedes, that limit your ability to sell/trade/transfer the lease and where you often will have equity. A dealer can usually get it done because we have direct lines to the loan officers. Uses transunion credit for score. I pulled one up for a Maserati Ghibli and it showed an MSRP of $48K and the car was a $91K sticker. Insurance Investments Locations & ATMs Digital Banking EN ESPAOL (800) 421-6674. Make a Payment. As my grandfather would say, this place cant find its ass with both hands. Monthly Payment. I have a credit score of 821 and $130k annual income. The bottom line: Pentagon Federal Credit Union, or PenFed, offers good interest rates for checking and even more competitive rates for online savings and money market . Thanks for turning me on to this. The vehicle mileage may not exceed 15,000 miles per year based on the model year. Might have to call them and ask. 2. I looked at it. High-Yield Savings Accounts; CD Rates; . i hadnt really looked into this being as its my first loan but the biggest problem i see with it is, what if your car gets totaled. I don't see anyone doing the right thing with these loans. This allows me to recoup the equity locked in the vehicle, which would otherwise be lost w/ a Tesla lease. What happens if you can't refinance in time at the end of the loan? New and used motorcycle loans. Were they easy app, approval or did you have to send in a bunch of docs. MERGED: Has anyone read this (bankruptcy) about GM? AFG uses a derivative (90% iirc) of straight ALG for the RVs on their balloon loans. Hanscom Federal Credit Union (https://hfcu.org/) I've been researching some alternative financing and this Penfed loan seems to blow everything else out of the water (including Select finance). They changed stuff over the years. European Delivery. Refinance your current vehicle loan to reduce your monthly payments with the PaySaver Auto Loan program. Couldn't find the ED price etc. Including the ability to turn your vehicle in and walk away at the end of the loan term. $1,000. PenFed Payment Saver Auto Loan. That being said, I did put like 10k down. I'm new to Audi, but understand RS models maintain their equity, making the. To Sign In or Enroll: Log-in to PenFed Online in the login box at the top-right of this page and click the Pay Bills tab from the Main Menu of PenFed Online. Create an account to follow your favorite communities and start taking part in conversations. You'll discover the ease and convenience of paying your bills online in almost no time. Alright guys so I just had to report on my deal as the numbers are great! APY. Stay tuned! Solve Now. Adnimation ATF. Uses transunion credit for initial score. With the Challenger, Dodge was still offering power dollar rebates with a purchase, but not with a traditional lease. balloon loans are dangerous and I think the interest rate on them usually fluctuates with prime. If I buy a car using the Penfed Payment Saver (balloon payment) program and say I want to put in $10,000 as a downpayment. Learn more. Equal Housing Lender - Federally insured by NCUAMembership restrictions apply, New and pre-owned vehicles up to five years old qualify, Annual mileage options of 12,000, 15,000 & 18,000 available. Did anyone have great luck with these, thought about doing one for a corvette. Given most APRs are pretty low right now, the difference in interest paid, for such a short term, is fairly insignificant. Payment and Shipping info for 1st Edition Camaro5 shirts, Americans increasingly going upside down on auto loans. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. This credit union is federally insured by the National Credit Union Administration. 1. Damn I just picked my 2021 trd pro 4runner with this Penfed program back in June. Generally, I do think a balloon loan makes sense for short term purchases. Hopefully this is not the end of the line, because they are a great option where you can find a favorable RV. Any options I have found, the rate has been at 4% and greater. Greater Nevada Credit Union's Payment Saver Auto Loan Program allows you to get the low costs of leasing with the option to sell, trade, finance or return at program's end. The last thing they want to do is repo your car. 1.5% cash back for non-members. In both cases it seems to me it would make more sense to simply take out a longer term loan in the first place to get your payments down. basically you are taking the chance that at the end of the term of the loan your car is still in perfect condition. I have my score from Credit Karma but the dealership told me they got a different score. Re: Has PenFed done away with Payment Saver (balloon finance) loans? What state/county do you live in? Minimum loan amount of $15,000 for vehicles financed with 60 to 72 month loan terms. Put Your Money in Your Pocket with Mobile Banking, 8 Tips for Taking Reliable Mobile Deposit Check Photos. Used auto loans: You can get up to 110 percent financing with terms . Welcome to the Greater Nevada Credit Union Payment Saver site. $100 bonus offer statement credit on $1,500 spent within the first 90 days. One quick question for those familiar with this loan: I pay sales tax on the entire vehicle of the car, right? PRIVACY NOTICE: When you visit this website we collect your browsing activities on our site and use that information to analyze and research improvements to the website, and to our products and services. Came back with a rate over 5%, Regional options (not-open-membership) to consider: E81 / E82 / E87 / E88Model Year: 2004 - 2011. Again denied!! New Auto Loans. 1. dunn2500. I have a credit score of 821 and $130k annual income. Keep in mind when you calculate the payments on BMWs site, it doesn't include taxes. If you look at their terms there is no pre-payment penalty, and you can pay off early anytime. Lowest available BALLON LOAN rate found was 2.49% but I did not qualify. Did you get this quote via their PenFed website? In normal times? G42Model Year: 2021 + F44Model Year: 2020 + Previous Generations; F22 . Note that fees charged between providers can vary. Those would be your best bet to see if there is one you can work with. Affiliate Business Arrangement Disclosure. My wife wants a Sienna or Odyssey and want to see what options I have. PenFed dropping the balloons is very interesting. My wife also works and makes over $200k a year.We currently lease and finance Volvos. Anyone on here have any experience with these loans?? Access Bill Pay makes bill paying easy and secure. To find out more about the PaySaver Auto Loan program, call or stop by AmeriCU today or go to the PaySaver Calculator to see for yourself how low your auto loan monthly payment can be! In my case i started with a 15 dollar savings account with penfed and let it sit for 7 months. Your actual credit score is only a small fraction of the equation. But unlike a lease, with the PaySaver Auto Loan program you own the vehicle and have all of the flexibility and benefits of vehicle ownership! Welcome to Park City Credit Union's Payment Saver calculator site. They had been very interested in leasing for years and then made a last minute decision to go with balloons based on a middle man who I think had a piece of the deal. Do we have to have a checking account open too or just share account is good enough? PenFed vs. SoFi. You need to be a member to access it. See this is what concerns meyou had equity b/c of how much you put down (really as with any financing). There are some exceptions where the Penfed payment saver has worked out better for me then a lease or traditional finance. I really don't think it is terrible as long as you setup an auto deduction into a interest bearing acount for what you would save each month. I just looked at our HELOC and its currently 3.13%. On a typical (not speciality, not for purchase only incentives, not to avoid a closed-end lease) vehicle?? All rights reserved. Frequent Contributor. Expect a hard pull immediately after submitting your application online. Never any issues with payments.My application only had me on it though, I thought my credit history and annual income would be more than sufficient to qualify. Camaro Price | Ordering | Tracking | Dealers Discussions, General Automotive + Other Cars Discussion, Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com, Find More Posts by joes3rdcamaro82/91/2010, https://www.penfed.org/productsAndRape=NEW&value=Y. ; Trade it at maturity or anytime during loan term. I'm seeing 3.74% for 84 months at DCU. My wife also works and makes over $200k a year. Does anyone know of anywhere other than PenFed that has auto loans with a balloon payment? A balloon loan is fundamentally paying down a presumed balance between MSRP and residual value. 2. Back in 2019, PenFed briefly offered balloon loans with guaranteed residuals (you could walk away at the end of the initial term), but they quickly discontinued those also. The term doesnt matter that much because you can sell, trade, or pay it off whenever you want. Basically its a loan with a reduced monthly payment, but has a balance that must be paid or refinanced at the end of the loan. Membership via $15 one-time donation to American Consumer Council. 1. Their MSRP for cars when doing payment saver are ridiculously off and by off I mean lower. Used car loan value based on NADA Retail Value. Make a Payment. I applied with neither and was approved. Will it impact my credit or look bad to banks if I immediately submit another application with PenFed - this time as a joint application? Uses experian for credit score. Read PenFed car loan review. I searched for this but still cannot find a straight answer. This happens most often with no option vehicle (ie Hellcat). Given your RV example, if the desired ownership term was only 6 months. { BK7 DC 12/2019 } target 1300/ kohls 3000/ discover IT cb 6500 / 2nd discover IT cb 6000/mercury 4100 / firestone 2800 /legacy . the same thing that happened with the housing pop is it not? Thanks for the candid feedback. I also got a decline the other day on a 700. Annual mileage options of 7,500, 10,000, 12,000, 15,000 & 18,000 available. Because their RVs are so low, youll have some equity at the end to trade with but your payments will be a lot higher than your other options with a lease. 2.70%. 12 Months. It seemed like it was kind of like a lease, but without the option to just give the car back at the end of the term. I can't remember where I read it but I believe Payment Saver is no longer offered as of late last year. Its also well established they dont verify the options you claim are actually equipped (driving up MSRP). Started the process online on Mondaycheck was at our doorstep on Thursday. To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account. Had you not put down $10k, you would have been upside down. Our payment quoting technology gives you the ability to build your vehicle of choice online, then compare the cost of the Payment Saver payment to a conventional loan payment. MECF_728x90_top. penfed payment saver forum. PenFed Payment Saver Deal. PenFed's payment saver loans have the appeal of low initial payments. Re: Penfed Pre-Approvals Credit Card. The pen fed saver payment calculator estimates a rubicon unlimited with 53k msrp to be worth 34k in change after 3 years. Id guess they will turn on a lease program sometime in the next year or two. I calculated the residual value it gave me in it's car-specific calculator (i'm logged in as a member). Your lender or insurer may use a different FICO Score than the versions you receive from myFICO, or another type of credit score altogether. You can borrow between $10,000 and $100,000 with terms of 24 to 60 months. Thanks, I was really intrigued buy the loan option Pen Fed was offering to lower payments. Yes I know about the dangers of the loans, what I need to know is who is offering them (other than PenFed). I have great credit and am already approved for a normal loan through my credit union with affordable monthly payments, but am considering the payment saver loan because of how much lower it makes them. Certificate Term. PenFed's new car loans as of Dec. 31, 2018 were $1.9 billion, up 7.7%, while the total among all credit unions was $21.2 billion, up 5.9%. Payment saver loans. . I just had a giant lunch so I may be even less lucid than normal, so please bear with me. Membership to the CU is possible via a $20 donation to CapEd Foundation. They didn't even have the 2016 M3 in their system when I applied. Login Register. 01-22-2022 02:06 AM. Copyright AmeriCU Credit Union. No match for the 2.99% 36mo rate that PenFed offered. Original review: June 28, 2022. What this means for you: When you open an account, we will ask for your name, address . I just thought there would be interest in PenFed discontinuing their offering, given the flurry of recent discussion in other threads. The way the market is now I don't think I would touch it. Flexible loan terms of up to 72 months. But regardless its clear that people generally arent doing these to save money. $869.13. It seems many local credit unions offer them but all require specific membership criteria (impossible given I am not in their area). I earn $xxxx per month, will I qualify for an auto loan or lease, and is it a good idea? Debt to income is also a huge factor, as you said. 0% balance transfer promo APR for 12 months, although a 3% fee applies on each transfer. As far as balloon loans go, it's a very good program. Popular programs such as PenFeds PSA Loan basically resembles a auto lease, but without th. New vehicles are vehicles without previous owners and are of a current (2021) or prior (2020) model year with less than or equal to 7,500 miles. Thanks for the info. Does anyone know who else offers payment saver loans? AFG Calculator. Just log-in to PenFed Online (above right, anywhere you are on PenFed.org) and click the Pay Bills tab from the Main Menu of PenFed Online. My only thought is we have two rental properties/mortgages so might look like I have large debt but they actually provide income. Read: 35 Ways To Slash Your Car Costs. Plugged in same options etc and only getting a $740 discount. Learn about the other ways you can use online and mobile banking. Only problem I had was getting approved. The content you are about to view is produced by a third party unaffiliated to Pentagon Federal Credit Union. Since the title is in YOUR name you have more options prior to loan maturity and at loan maturity. It doesn't hurt to try but it probably won't make a difference. If they truly killed it an didnt just pause it, there is almost no chance it comes back. Their customer service has been great so far. Where Penfed has an unusually high MSRP, which does not properly align to the manufacturer MSRP. PenFed's new "Payment Saver Plus Program" removes the risk of credit damage for . Back in 2019, PenFed briefly offered balloon loans with guaranteed residuals (you could walk away at the end of the initial term), but they quickly discontinued those also. I wonder were these taxed at the full purchase price or taxed like a lease? The only time this "Payment Saver" would make sense is if you had money tied up in stocks or property that wasn't liquid right now but that you knew would be liquid by the time the balloon payment became due. FWIW the AFG calculator is a good resource to play around with numbers: AFG Calculator. SEFCU (NY), Collapse. If you have a chance to be earning 3-5% on what your normal down payment is and go with this you obviously make some money.. if of course the car is still good at the end of the payment. G42Model Year: 2021 + F44Model Year: 2020 + Previous Generations . Would love to pick up other vehicles with this program. Looks a like 60 month balloon but cannot find any other info about it in terms of how to calculate residual.. could be an alternative to lease.. NerdWallet rating. More details on software and accessibility are available at WebAIM.org. Latest BALLON LOAN options (best to worst): CapEd Credit Union (https://capedcu.com/) Should I add $500 so that I dont get charged a service fee or I can close the chrcking and just keep my share account? I wonder if its worth trying to contact Pen Fed again or just cut my losses and work with the dealer. Hopefully this is not the end of the line, because they are a great option where you can find a favorable RV. https://www.penfed.org/auto/payment-saver. PenFed's new Payment Saver Plus Program removes the risk of credit damage for members. Now the Raptor, well I don't know what to tell you accept the fact that I have had about 8 auto loans with PenFed and they love me there. By clicking I ACCEPT, you consent to our use of cookies in accordance with our Privacy, GDPR and Cookie Policies. more or less this is the opposite of gap insurance. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. How to pick a car? I am a bot, and this action was performed automatically. There's so much else going on behind the scenes. Credit Union Times PenFed to Offer Walk-Away Balloon Car Loans | Credit Union Times. They used to have a payment calculator on the site where you could either enter a VIN or select make and model and it would show estimated payments, but it looks like they took it down. Congrats man!!! As far as the process goes though, I pretty much just need to get my exact total from the dealer (car, taxes, fees, etc) apply for the loan, then walk in and hand them the check? CarBuilder gives you the ability to build your vehicle of choice online, then compare the cost of the Payment Saver low payment to the conventional loan payment. I can't remember where I read it but I believe Payment Saver is no longer offered as of late last year. Penfed has a calculator which allows you to lookup MSRP and RV for a given vehicle. For one reason or another penfed was difficult to get approval for, and I'm not sure I understand why. I've also been thinking about going this route. F40Model Year: 2019 + Previous Generations; F20 / F21Model Year: 2012 - 2018. Now you can leave those worries behind and use Access Bill Pay! 0 Kudos. See the difference? Does anyone know how the RV is calculated in the PenFed Payment Saver program? To start viewing messages, select the forum that you want to visit from the selection below. I did do this loan on my e90 M3 back in 08. However, PenFed's "Payment Saver Plus Program" removes the risk of credit damage, making a walk-away just another option to satisfy the balloon payment obligation. Using the balloon loan qualified me for thousands in additional rebates versus a CCAP lease. Paysaver rates not posted, but you can apply for paysaver loan via the website. Do not do it! What are the pluses/minuses of financing using payment saver plan? G42 Model Year: 2021 + F44 Model Year: 2020 + Previous Generations; F22 / F23 Model Year: . AFG Calculator. MountainCrest FCU (WA), . There website says it's an estimation based on their data & the mileage cannot exceed 15k a year. Anything branded payment saver is the afg balloon. Sound impossible? Penfed payment saver loan calculator One tool that can be used is Penfed payment saver loan calculator. Call 1-800-247-5626 for details. Thanks for the input thus far guys, very helpful. Mileage options apply only if you return the vehicle at program end. Open membership, anyone can join. Payment came back very high, not sure what rates/fees they used. No early payoff penalty. Chances are you owe too many people too much money and your CU sees this as a liability. PenFed takes no responsibility for the content of the page. I just thought it may make sense in regard to the Odyssey and Sienna which lease terrible and tend to hold decent RVs. No security deposit or acquisition fees. F80 M3 / M4 Pricing, Ordering, European Delivery, https://www.dcu.org/loans/auto-choices.html. Its not. 1. I drive alot, PA charges 9% lease tax on leases, and of course BMW acquisition/leasing fees are not something you deal with when buying. TT (Mk3) Discussion - PenFed - Anyone ever use PenFed's Payment Saver loan? Penfed offered me a balloon for $475 a month and a balloon payment of $15K where as my truck was purchase for $55K and have a balloon of $26K for $550 a month. No down payment required; Annual mileage options of 12,000, 15,000 & 18,000 available; No security deposit or acquisition fees; No early payoff penalty; Since the title is in YOUR name you have more options prior to loan maturity and at loan maturity. I actually had a few grand in equity. Neither lease well and ran across this idea but didnt know how to calculate the RV. I had forgotten about these loans, so I might go this route myself right now. Generally, I do think a balloon loan makes sense for short term purchases. He is more focused on the monthly payment than the total cost of ownership. Rates and offers current as of and are subject to change.. 1 The PenFed Car Buying Service rebate of $350 will apply to new and used purchase loan applications with a qualifying vehicle purchase sourced through the PenFed Car Buying Service. PenFed's used car loans as of Dec. 31, 2018 were $1.5 . $465. If so, please share your experience with them. At minimum, expect a $725 origination fee for vehicles over $75K. Yeah that's not uncommon for credit unions or banks that just use software to put it in as that. Idk what the full scope of the deal is, but if you make $10,000/month and owe $9,500/month in revolving debt and credit card balances, that leaves you with only $500/month of available buying power. Bimmerpost Model Selection. I would rather keep the equity in my pocket, during that time period, then in the vehicle. I have had the Payment Saver on a FJ Cruiser, JKUR, JLUR and now my Raptor. I just emailed Penfed to ask for more info on how they figure the RV. For more information about the relationship between PenFed and PenFed Realty, LLC, see the Affiliate Business Arrangement Disclosure. White House Approves $17.4 Billion Auto Loans to GM & Chrysler. Pentagon Federal Credit Union, or PenFed, serves over 903,609 members. To come up with that payment you have to either save it up while your paying the smaller payments or refinance the remainder at the end of the loan. See how anyone can join and take advantage of its market-leading CD rates. This lets us know where you're located so we can assist you better. I am going to guess that this is a terrible idea for someone that drives up to 20K miles / yr. F80 M3 / M4 Pricing, Ordering, European Delivery, https://www.penfed.org/payment-saverver-calculator. For visitors with visual disabilities, access to this website, including our FICO Data Privacy Policy, is available through assistive technologies, such as BrowseAloud, JAWS, VoiceOver, Narrator, ChromeVox, and Window-Eyes. CALCULATE YOUR PAYMENT SAVER LOAN PAYMENT. Motorcycle, RV and boat loans. Teachers Federal Credit Union (https://teachersfcu.org/) Then at 2 years post bk7 dc i applied for the PCR, approved for 7.5k at 17.99, ymmv. Lesser known benefits of the program, it includes GAP and deductible insurance. I was told to just call back when I have the VIN. This is completely wrong. Rates depend on terms, as follows: PenFed takes no responsibility for the content of the page. F40 Model Year: 2019 + Previous Generations; F20 / F21 Model Year: 2012 - 2018; E82 / E83 / E87 / E88 Model Year: 2004 - 2011; 2. I don't see it on their site anymore, did they stop offering it? Rates are accurate as of Feb. 2, 2023. I did this same type of thing with my E92 M3 and it was perfect. Products & Rates Choose Your Product Auto Payment Saver Auto Loan Estimate my payment, That could be why I cant find it, but Im not going to join until I decide if I want to use the loan, but dont know if I want to use the loan until I know the RV. Minimum Deposit. APR = Annual Percentage Rate. Just wanted to give you a heads-up. They offer a payment saver loan option (via AFG) at a 3.84% rate. Had no issues with penfed. A lot of credit unions buy residuals from AFG. Out of curiosity, for those who have balloon loans, whats your APR? You need to claim your rental income on the application. Not that I'm going to finance that long. Remember your panic when you were far from home and remembered that a bill was due? I want to buy this car but being declined with them kind of shocked me and makes me worried.Will I be ok going through dealer financing?What should I do? Taxes on full vehicle price were paid on vehicle upfront. Message 3 of 4. *For security purposes you must use a 128-bit encryption browser to use Access Bill Pay. This may come as a surprise, but financing a car isn't that easy, and credit scores are only a small fraction of the total approval/decline. 4.0. I understand the difference the RV would make on the monthly payments, but its not like you can give the car back at the end of the term like on a lease (at least on the balloon loan PenFed most recently offered). But interest rates start higher than the interest rates for its traditional car loans. You might also have luck in the r/whatcarshouldibuy subreddit. However the payment difference is hundreds per month between a lease and a balloon payment. All FICO Score products made available on myFICO.com include a FICO Score 8, and may include additional FICO Score versions. Do you wish you could make paying your bills less of a hassle? G42Model Year: 2021 + F44Model Year: 2020 + Previous Generations; F22 / F23 . Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Instead you owe a large balloon payment at the end. The content you are about to view is produced by a third party website that is unaffiliated to Pentagon Federal Credit Union. (And no, not aware of anyone else other than Penfed that's doing it, cause I'm not in the market for a bad loan. This isnt a product thats useful to me. We can help you find an auto loan that meets your needs with our CarBuilder program. TERM APY* 6 Month 2.70%** 12 . I looked but it was cheaper to go with BMW select. They usually announce all the small CUs they sign each quarter. Has PenFed done away with Payment Saver (balloon finance) loans? I currently pay $800 a month on a auto loan, so trading it in for another $800 isnt a strain on my finances. That means they are most likely not seeing the originations that afg sold them on. 1323 3 Only show this user. When I applied last month, it was for conventional: new, used, and less than 1 year old refi. If you click the details tab on the DCU site it shows 3.74% for 84 months. If I total the car my . Vermont FCU (VT), I recently applied for an New Auto Payment Saver loan for $65k through PenFed Credit Union and was declined, the reason was Excessive Obligations in Relation to Income (Overextended). Our students say Absolutely amazing app, but is there a way to copy a result? Find out how you can save on your next car. You will need to put in the rental income as "other income" on the credit app, and provide your tax returns showing that income, or sometimes the leases, or bank statements, etc. Access Bill Pay: PenFed's Online Bill Payment System. The banks want nothing to do with that, and will happily turn you away. You have to be an employee of a specific business, student/family in a specific school district, or active/retired military. Better then a lease loan offering is backed by AFG at a 3.74% rate. It's a lease-like program, but you OWN the vehicle, and there are plenty of end-of-term options:. The share savings account gets you all the benefits, Powered by Discourse, best viewed with JavaScript enabled.