We have a new auto lending program unlike any other. Read on for more about Auto XP.
This special loan can save you 30 – 40% off a traditional auto loan. You borrow for the car similar to a lease, but you have options throughout the loan and upon loan maturity.
No money down, and a payment you can afford.
All autos up to five model years old are eligible.* Financing is available for 24 – 72 months. 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 lower monthly payment than conventional financing. The residual value is established based on the term of the loan using industry-approved guidelines similar to leasing. But Auto XP is so much better than leasing!
Reasons to Finance with MAC’s Auto XP
- Lower monthly payments – 30 to 40% lower on average than with conventional financing
- No down payment required and no prepayment penalties
- Flexible loan terms from 2 to 6 years
- Guaranteed future value at end of term
- Reduces negative equity risk
- Protection from unexpected depreciation
Advantages Over Leasing
- You own the vehicle (titled in your name – not the leasing company’s)
- You can negotiate the vehicle purchase price like a cash purchase with the dealer
- Lower excess mileage charge than most leasing programs of only $0.10 per mile
- Lower disposition fee than most leasing programs of only $195
Flexible Loan Options
- Refinance remaining balance at loan maturity or anytime during the loan term
- Keep, sell or trade the vehicle at loan maturity or anytime during the loan term with no early termination fees
- Walk away by returning the vehicle at loan maturity in lieu of making the final balloon payment with no end of loan term hassles. Vehicle pick-up is arranged, even if you have moved to a different state!
If you think Auto XP is a fit for you, we are here to assist. Call us at 907-454-1253 or stop by the 10th Avenue branch.
*Some restrictions may apply. See a Financial Services Officer for specifics about your auto.