Flex Auto Loan
Congressional Federal’s Flex Auto Loan can put you behind the wheel of your dream car today - in an affordable way. Flex Auto Loan offers the benefits of owning plus the affordability of leasing in one flexible alternative.
See how much you can save
- Lease-like low payments: Pay up to 40% less!*
- Option to sell, trade, finance or return and walk away from car at loan maturity*
- No money down and no hidden costs
- Unlike leasing, you own the car
- GAP+ Insurance Protection***
on your next car purchase with the Flex Auto Loan.
* Lower monthly payments are due to the fact that a significant portion of the amount financed is deferred to a final balloon payment position referred to as the Guaranteed Future Value (GFV). The balloon payment (GFV) is based on the vehicle’s projected depreciated value at loan maturity. When the final balloon payment is due, you have four options to satisfy this payment: 1) Pay the GFV amount and retain the vehicle; 2) Sell the vehicle, pay the GFV amount and keep the difference; 3) Trade the vehicle and the GFV amount will be satisfied as part of the transaction (a $195 Disposition Fee is due to process the vehicle pickup); or 4) return the vehicle as a collateral satisfaction of your GFV and walk away. The monthly payment includes the cost for GFV (also known as residual value) protection which gives you the right to return the vehicle at loan termination date and protects you against any decline in the vehicle's Guaranteed Future Value (GFV). If you elect to return the vehicle the following obligations exist: 1) All original equipment that came with the vehicle when you purchased it must still be with the vehicle; 2) If you exceed your Driving Sense loan mileage allowance, the excess mileage fee is $.10 per mile; and 3) The condition of the vehicle when returned must be in accordance with the Loan Addendum which is provided to you at the time of loan disbursement. When you return the vehicle in accordance with the Loan Addendum, the residual amount is considered to have been fully satisfied and the loan is closed.
*** Guaranteed Asset Protection (GAP) is not intended to replace your automobile insurance. It does not provide bodily injury property damage, liability, or collision insurance and does not comply with any financial responsibility or any other law mandating motor vehicle insurance. All new or used motor vehicles with a maximum loan of $100,000 are eligible. Benefit coverage limits up to $50,000 with a loan term up to 84 months. Powersport vehicles, watercraft, and recreational vehicles are at a different policy rate and other limits apply. GAP+ protection will pay the first $1,000 towards the loan on a replacement motor vehicle, powersport, watercraft, or recreational vehicle loan financed through Congressional Federal. The replacement vehicle must be financed within 120 days of the date your primary insurance company pays the claim on a total loss.