Why? There are a few reasons, including COVID-caused factory shutdowns, supply chain issues, and the highly publicized microchip shortage. This has led to new car production being drastically reduced. This has had a ripple effect on used cars as well: fewer new car means fewer trade-ins and former rental cars hitting the used market. The result: both new and used car prices have hit an all-time high, with the average selling price of a new car totaling about $45,000.
It's not impossible to get the car you need at a price you can afford! Here are 4 tips to get you through this current car-buying market and into the car you need:
Yes, the shortage of new and used vehicles in the marketplace is being felt by all. However, there ARE vehicles being produced and delivered, and trade-ins being taken every single day. And, AS ALWAYS, our Auto Advisors are here to help our members save time and money on the purchase of new and used cars, while taking advantage of competitive credit union rates and products. All in a safe, efficient, and hassle-free manner.
Category: Car Ownership
Here’s a big secret that could save you some money: auto financing is not just about the loan. When you control the financing, you control the deal! In this blog I’m going to share how you can walk into a car dealership with confidence and get the best deal without falling for any expensive tricks.
You’re ready for some new wheels, but should you buy new or used? There are passionate arguments on both sides, so you have to take your needs, wants, and budget into account while making this important decision.
If you’re ever in a car accident, GAP insurance could truly save the day when it comes to protecting your finances. This type of insurance covers the “gap” between how much you owe on your auto loan and how much the car is currently worth if your automobile gets totaled. Here’s what that might look like in real life…
If you’re in the market for some new wheels, you may be confused about leasing. Is it better to lease or buy your next car? There are passionate arguments on both sides, so you have to take your needs, wants, and budget into account while making this important decision. Below are some pros and cons of leasing– we’ll leave it up to you to decide which is best for you.
Besides the Super Bowl, February is known as a huge month for car sales. If you tune in to watch the big game, you’re likely going to see a ton of car commercials. Car commercials and car advertisements are a great way to learn about what’s available on the market. However, just like any other product, if the ad seems too good to be true… it is. Here are some things to look for when watching or reviewing an automobile advertisement:
February is a BIG month for car sales! You’ll find many Presidents’ Day special deals from the auto makers, car dealerships and financial institutions. Before you shop for your new car, here are some smart strategies to help you drive home with the right car and the best deal!
Even if you’re a fantastic driver, you’re surrounded by other drivers every time you hit the road—and they may not be skilled, alert, focused, sober or even awake! Did you know that MILLIONS of car accidents happen in America each year?
This type of insurance covers the “gap” between how much you owe on your auto loan and how much the car is currently worth if your automobile gets totaled. For example*, imagine that you purchased a new car and took out a loan for $31,000. Unfortunately, after 2 years, your car is totaled in an accident. Based on your loan, this is how the math would work:
Traditionally, February is a BIG month for car sales! You’ll find many Presidents’ Day special deals from the auto makers, car dealerships and financial institutions. Before you shop for your new car, here are some smart strategies to help you drive home with the right car and the best deal!
Car buying has never been for the faint of heart. Now, though, there’s a new challenge: inventory! On top of the usual wading through dense disclosures in ads, haggling at the dealership, and securing financing, you have to work a lot harder to find a car!
Life is busy. Not enough hours in the day, right? But even when you’re not busy, it would be nice to enjoy what little down time you have. So when shopping for a new car feels like ONE MORE THING on your to-do list, let the experts check it off for you!