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Car Buying Options

Find out if it is better to buy or lease, or if a used or new car is best for you. 

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Whether you’re considering buying or leasing, new or used, understanding your options can help you make a confident and informed decision. Use the comparisons below to find the option that fits your lifestyle and budget.

 


NEW vs USED

 


 NEW USED
Purchase Price Higher upfront cost Lower upfront price
Monthly Payment Typically higher Typically lower
Depreciation Loses value fastest in early years Slower depreciation
Vehicle History No previous owners or wear Vehicle history varies – important to review vehicle reports
Best For Drivers wanting the newest features and long-term ownership Budget-conscious buyers looking for lower payments and value



 

 Ready to find your perfect ride? Save time and money by using BankFund Car Buying Service powered by TrueCar®.1

Car Buying Service  

BUYING vs LEASING

 


 BUY LEASE
Ownership You own the vehicle once the loan is paid off You do not own the vehicle unless you choose to buy at the lease end
Vehicle Equity Builds equity and resale value No equity is built
Mileage Limits No mileage restrictions Annual mileage limits apply (fees for exceeding limits)
Maintenance Costs Responsible for vehicle repairs and maintenance, especially after warranty Often covered under warranty during the lease term
Best For Long-term ownership, higher mileage drivers Lower monthly payments, driving newer vehicles more often



 

1 TrueCar operates this information website (“Service”) featuring pricing, performance, technical, and safety data available for new and used vehicles. The Service is not available in all locations. Neither the accuracy of information provided on this website by selling dealers and users, nor the availability, quality, or safety of vehicles, is guaranteed or controlled by BankFund or TrueCar, and BankFund and TrueCar assume no responsibility for the foregoing. TrueCar® discount only available for dealer purchase, not refinance. Call for details 1-888-878-3227. Guaranteed Savings currently not available in all states. In these states, a “Target Price” is presented, which reflects a market-based example of what you can reasonably expect to pay for a vehicle configured with your desired options. Your configured vehicle may not be available in stock at the certified dealer.

2 Offer available from February 18, 2026, to April 30, 2026. One reward per loan. An open Checking or Savings account is required to receive the $100.00 incentive. The $100 incentive will be credited up to 90 days after the loan opening. Vehicle must be financed or refinanced for $20,000 or more to receive $100 credit. Existing BankFund loans are ineligible. Loans paid off within the first 60 days of loan origination do not qualify to receive incentive.

3  All loan approvals are subject to normal underwriting procedures; this is not a guaranteed offer of credit. Other terms and conditions may apply. Subject to change or cancellation without notice.

4 The ‘Make No Auto Loan Payments for 60 Days!’ option is valid on all new and used auto loans and external refinance loans. Refinance of BankFund loans are ineligible. Interest will begin to accrue on the date the loan is funded. The first payment after the 60-day no payment period will first be applied first to the interest accrued from the date the loan was funded and then applied to the principal due.

5 Receive up to 1.25% off your rate when you qualify for extra discounts. To receive a total of 1.25% discount member needs to: 1) Be a Global Rewards Optimum Level Member (receive 0.50% discount). 2) Purchase the vehicle through BankFund's car buying service powered by TrueCar® (receive 0.50% discount). The Car Buying Service discount is only available for the purchase of new and used vehicles, not refinances, and for fixed-rate loan terms up to 60 months. 3) Take an additional 0.25% off the auto loan rate if your vehicle is considered environmentally friendly. To be considered Green Car, the vehicle needs to be US EPA Certified SmartWay(R). A searchable list of vehicles can be found at https://www.fueleconomy.gov. Find your Global Rewards level when you log in to Digital Banking. Visit BankFund's Car Buying Service at BFSFCU.org/CarBuyingService. Total discounts may not exceed 1.25%. Refinancing offers are limited to auto loans you have with other lenders.