Get on the road fast with free pre-approvals and local decisions. We offer competitive rates on new and used vehicles.
- Competitive Rates
- Local Processing
- Quick Decisions
- Get the right ride at the right rate
- Competitive, fixed rates on new or used vehicles
- A wide range of terms customized to your unique situation
- Pre-approval available for extra bargaining power at the dealership
- Refinance your current vehicle to potentially lower your rate
- Find peace-of-mind after your purchase with a wide range of protection plans:
- Mechanical Breakdown Protection
- Guaranteed Auto Protection (GAP)
- Debt protection plans
- Quick, local decision-making and processing
- Attentive, friendly service from start to finish
With the Lease-Like (Only Better) Auto Loan it's easy to buy more and pay less. This program makes it easier to upgrade to a vehicle you thought you couldn't afford while paying less. And, while most leases are only for new vehicles, with the Lease-Like (Only Better) Auto Loan you can also finance a used vehicle.
How Does It Work?
When you finance your vehicle at Electro, we determine what your vehicle will be worth the year your loan is scheduled to end. It's called the "residual" value. The residual value is subtracted from your loan amount and your monthly payment is based on the remaining amount.
For example, if your loan is for $30,000 and the residual value is $16,500 the year your loan ends, your monthly payment is calculated based on $13,500 ($30,000-$16,500=$13,500) instead of the full loan amount of $30,000. Your monthly payments could be up to 40% lower than with conventional financing.
What Happens at the End of Your Loan?
When your Lease-Like (Only Better) auto loan is paid in full, you have four options:
- Sell the vehicle, pay the loan balance (including residual value), and keep any difference
- Use the vehicle as a trade-in and the loan balance (including residual value) is paid as part of the transaction
- Keep the vehicle and refinance the loan balance (including residual value) as a used vehicle loan
- Return the vehicle and walk away from the residual value
Ready to take advantage of all the Lease-Like (Only Better) Auto Loan has to offer? Apply today!
Car Buying Workshops
All workshops are held in the Community Room at our Maryland Heights Branch.
- Determine how much you can afford
- How to shop online
- Using a car inspection and test-drive checklist
- Decipher financing options and warranties
- Costs of ownership
Certified Used Vehicles For Sale
Learn more about vehicles for sale by the credit union and our special financing — you will find great, late-model autos available for one, simple price.
Enterprise Car Sales
For more than 30 years, credit unions have collaborated with Enterprise Car Sales to provide credit union members quality used vehicles with no-haggle pricing. Check out what special deals are happening now for credit union members at Enterprise Car Sales
GreenPath Financial Wellness
Before visiting a dealership, make sure you know how much you can afford to spend and decide whether you want to buy or lease. Doing your homework ahead of time helps ensure you make a smart decision that you won't regret later.
Finance your new or used vehicle with Electro Savings at many Greater St. Louis dealerships through Credit Union Lending Systems. No lengthy forms to fill out and the dealer will tell you in a few minutes if you've been approved.