[edog]

Are there any drawbacks for financing with a payment saver loan? I wonder, for those who might be in a situation of limited cash flow and job security, could this help them finance, and if something was to happen due to the economy there payments would be lower minimizing the amount they have to pay during the month. It looks as if it could save them up to 300 a month if needed.

Any thoughts?

How It Works
With Payment Saver Auto Loans, you will be able to make a lower payment than what the conventional auto loan would offer, yet at a higher interest rate. Then, at the end of the loan, you will owe the remaining balance of the loan itself. At this juncture, you may choose to payoff the loan or sell, trade, or refinance the vehicle.

Your Payment Saver Auto Loan payment is calculated based on the loan term, the amount you have requested, and the residual value of the vehicle. The residual is the expected value of your vehicle at the end of your loan term.

The difference between your loan amount requested and the residual value is amortized over the loan term, resulting in a low monthly payment without the danger of your becoming upside-down in the loan.

Loan Features
Ownership - The vehicle is yours, this is not a lease
No prepayment penalties
No wear and tear clause
We'll determine the residual value to estimate your vehicle's worth at the end of your loan*
Sell, trade, or refinance** at the end of your loan term
We offer superb rates as well as additional offerings for your investment; such as Mechanical Breakdown Protection and GEICO Auto Insurance.

How much car can you afford to buy?

Payment Saver Auto Loan Calculator