Vehicle Ownership Program

Vehicle Ownership Program

For qualified members, Express Advantage will match up to $500 of your savings for the down payment, insurance and/or taxes and licensing fees when you buy a car. Express Credit Union will also pre-approve you for a loan and refer you to a dealer or discount car buying source.
To be eligible you must:

  • Have individual income $28,095/year or less, OR family income $60,500/year or less (A family is defined as two or more individuals residing in the same household)
  • Want to purchase a vehicle priced at $10,000 or less
  • Be eligible for membership at Express Credit Union. Click here for requirements
  • Must have a valid driver’s license

This opportunity is limited to one program participant per family

To schedule an appointment to find out more about the program, call (206) 622-1850.

FREQUENTLY ASKED QUESTIONS ABOUT THE VEHICLE OWNERSHIP PROGRAM

Am I required to take a financial education class?
Yes, our goal is to help you become better informed about the car buying process and how much it costs to own a vehicle. We want you to be successful in owning a vehicle that you can afford and enjoy.

If I am accepted for the program does that mean I am approved for the loan?
No, the loan application is a separate process. In order to be approved for the loan you must demonstrate that you have the means to repay the loan within your budget and that you have a history of paying others in a timely manner. Your credit application will be reviewed by an Express Credit Union loan officer and is subject to approval.

Are there special rates and terms available on loans if I participate in this program?
Yes, there is an additional .25% discount off the published loan rates in addition to any other discounts that you may qualify for.
See our current vehicle loan rates.

Do I have to have full coverage insurance on the vehicle I purchase if I get a loan through Express Credit Union?
Vehicles priced at $2,000 or more must carry full coverage insurance with a minimum deductible of $500. Those priced below $2000 must carry liability insurance.