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Vehicle Ownership Program

Let us help you reach your dream of owning a vehicle!

For qualified members, Express Advantage will match up to $500 of your down payment, insurance and/or taxes and licensing fees when you buy a car. Express Credit Union will also preapprove you for a loan and refer you to a dealer or discount car buying source.

To schedule an appointment to sign-up for the program, call 206-622-1973 or email expressadvantage@expresscu.org

Group orientation sessions are also available.

Please click here for our Seven Steps to Vehicle Ownership and additional information > (PDF)

This program is open to the first 100 members who sign a participant agreement and is limited to one program participant per family.

FREQUENTLY ASKED QUESTIONS ABOUT THE VEHICLE OWNERSHIP PROGRAM

Do I qualify to apply for the program?
If you answer yes to all of these questions, then you are qualified to apply for the program.

  • Is your individual income $28,095/year or less, OR family income $60,500/year or less? (A family is defined as two or more related individuals residing in the same household)
  • Do you want to purchase a vehicle priced at $10,000 or less?
  • Are you eligible for membership at Express Credit Union? Click here for requirements
  • Do you have a valid driver's license?

Am I required to take a financial education class?

  • Yes, our goal is for our participants to 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.
  • The financial education class is required before you apply to get pre-approved for your loan and before the matching funds are made available.

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?

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 $2000 or more must carry full coverage insurance with a minimum deductible of $500. Those priced below $2000 must carry liability insurance.