CLARK, N.J. – Aspire FCU is offering its Toyota-driving members assistance in buying a new vehicle.
Under the deal, members are allowed to borrow the same amount they originally borrowed, plus up to $5,000 extra if their loan was "upside down" – meaning their vehicle currently is worth less than the loan balance. In addition, the term of the new auto loan will be extended so that members taking advantage of this offer will have the same monthly payment amount as their original loan.
"The safety and well being of our members, financial and otherwise, is our primary concern," says Aspire CEO Thomas O’Shea. "The primary goal of this offer is to give members the option of getting out of a vehicle that is potentially dangerous and into a different car as quickly as possible, while making the transition easy for the member."
Aspire FCU assures its members it is confident that the recall and repair efforts by Toyota should resolve the problems with their vehicles. However, it wanted to provide this unique option in case members had their doubts. If nothing else, the program offered peace of mind during a time that could have been very stressful for many Aspire members.
