HARRISBURG, Pa. — For the past three years, Pennsylvania State Employees Credit Union has offered its members a 10-year auto loan option–a term not commonly seen for a vehicle purchase.
PSECU President Gregory Smith said that the loan is typically used as an alternative to a lease for members wishing to purchase more expensive car models.
"Looking at the 10-year loan in comparison to our other auto loans showed that the 10-year category had the shortest pay off time," Smith said. "The pay off was typically sooner than five years."
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