Auto Advantage
Enjoy a low-cost alternative to leasing and the benefits of ownership
Sound’s Auto Advantage Program combines the benefits of a conventional auto loan with the flexibility of a lease.
- Save 25%-40% over traditional financing
- New & used vehicles up to 5 model years old qualify
- Terms up to 72 months
- No down payment required for most applications
- Financing available up to 145%, loan-to-value, on approved credit
- Annual mileage options of 7,500, 10,000, 12,000, 15,000 and 18,000
Auto Advantage program benefits:
- The title is in your name.
- You negotiate the purchase price of the vehicle.
- There are no hidden costs.
- You can pay off or refinance the loan at any time with no prepayment penalty.
- You carry the level of personal insurance you choose.
Already Have an Auto Loan? Bring It Over To Sound’s Auto Advantage Program.
Refinance into Auto Advantage
Get all the benefits listed here AND 2% cash back on the loan amount.
No Risk or Long-Term Obligation
Enjoy the flexibility to sell, trade, refinance, or pay off your loan anytime. At loan maturity, you can also turn in your vehicle and walk away.
Think the Auto Advantage Program is right for you?
Apply Online to Get Started Today.
How the Auto Advantage Program Works
You likely have questions! Here are some answers to frequently asked questions about our low-payment Auto Advantage auto loan.
Sound’s Auto Advantage Program is a vehicle loan designed to give you lower monthly payments and more flexibility at the end of your loan term. A Guaranteed Future Value is established for your vehicle, and your payments are based on the difference between your loan amount and that future value.
No. You own the vehicle. That means you can trade it in, sell it, pay off the loan, or refinance at any time. Unlike a lease, Auto Advantage also doesn’t require a down payment.
Auto Advantage uses your vehicle’s Guaranteed Future Value to calculate the principal portion of your payments. Because you’re not paying down the entire vehicle value during the loan term, your monthly payment may be lower than with conventional financing.
Guaranteed Future Value, or GFV, is the value established for your vehicle at the end of your loan term using industry-approved guidelines. If your vehicle is worth less than the GFV at maturity, you have the option to return the vehicle to the guaranteed buyer at the GFV, subject to the program requirements.
You have options. You can keep your vehicle, trade it in, sell it, refinance the remaining balance, pay off the balance, or use the walk-away option and return the vehicle to the guaranteed buyer.
No problem. You can pay off the remaining loan balance or refinance it and continue driving your vehicle.
Because the vehicle is titled in your name, you can also trade it in or sell it at any time. The remaining loan balance, including the Guaranteed Future Value, will need to be paid as part of the transaction.
The annual mileage options to choose from are:
- 7,500
- 10,000
- 12,000
- 15,000
- 18,000
Mileage matters primarily if you choose the walk-away option at the end of the loan. Based on the program information provided, mileage over your selected allotment is charged at $0.10 per mile when the vehicle is returned.
Yes. If your vehicle qualifies, you may be able to refinance an auto loan from another lender into Auto Advantage and take advantage of the program’s flexible payment and end-of-term options.
Curious about what you may qualify for?
Try our Instant Prequal option.
You’ll know within minutes without impacting your credit!
Disclosures
APR is Annual Percentage Rate. All loans are subject to Sound Credit Union lending policies and loan-to-value guidelines. Your rate and term will be determined by your individual creditworthiness including income, debt-to-income ratio, employment, and credit history. Verification of income may be required. Must be 18 years of age to qualify for loan. Loan promotions cannot be combined with any other offer or discount. Rates are subject to change. Membership at Sound Credit Union is required prior to funding a loan. Rates and offers are subject to change. Sample payment: 5.19% APR would require 72 monthly payments of $405 for a $25,000 loan.
2% Cash Back Offer: If you participate in this offer, 1) you may receive 1099 MISC at year end; 2) the 2% cash back award will be forfeited and added back to the payoff amount if the loan is closed within 24 months of opening. This offer is not valid to refinance an existing Sound Credit Union loan. Cash back offer is valid through December 31, 2026.
0.25% Rate Discount: The 0.25% APR discount is available on select consumer loans with automatic payment set up from qualifying Sound Credit Union checking account. The prime borrower must be prime or joint owner on the checking account. This discounted rate may revert to a non-promotional rate if the automatic payment is cancelled at any time during the term of the loan.
Instant Prequal Offer: This program uses a soft pull of credit to determine your offer and won’t affect your credit score. If you take advantage of the offer presented, your full credit will be pulled at that time. Applying for this offer is not a guarantee to lend. Complete details.
Auto Advantage: This program is valid on cars, trucks, and SUVs up to five years old. Motorcycles, RV, boat, toy loans, electric cars and business loans are excluded from this offer. If you elect to return the vehicle at the end of the term in lieu of the final balloon payment, additional fees may apply.