Merrimack Valley CU For Former
RTN Members >
Auto & Personal Mortgage & Home Equity Undergraduate, Graduate, & Refi Commercial Loans & Lines Former RTN Members

Online Banking

Forgot Username?

Forgot Password?'; } ?>

Register

Need Help?

Online Banking

Forgot Username?

Forgot Password?

Register

Need Help?

MVCU, auto loan, car buying
Home / Tools / Smart Car Buying Strategies
Smart Car Buying Strategies on 2/5/2020

Smart Car Buying Strategies

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!

Know What You Can Afford

It pays to get pre-approved first. Just like shopping for a home, shopping for a car is easier when you have a realistic budget in mind.  You’ll be able to eliminate some choices, and focus on a few models that meet your needs and your budget.  Buying a new car can put a damper on your budget– an offer like our 90 Days No Payment** can help you get back on your feet with your budget.

Don’t Go Alone

Bring a friend or bring a trusted Auto Advisor when you shop for your car.  Auto Advisor can save you time and money, negotiate with the car dealer on your behalf and ultimately, find you the right car at the right price.  Auto Advisor works for you– it’s like having your best friend and your savvy finance manager working for you!

Do the Math

When considering two options, such as zero percent financing or $2500 cash back, you’ll need to do the math to figure out which option is the best in the long run. In general, choosing the cash back and reducing the cost of your new vehicle may save you the most money, depending on the interest rate of your auto loan. Auto advisor can help you calculate the actual cost of each option.

Say “NO” to Expensive Add-ons

If you purchase a new car using financing through a dealership, the dealer will try to add in products that you don’t technically need or want, and aren’t beneficial to you.  These products are marked up so you pay more while  the dealer makes more money.   For example, you can probably get the same Gap Insurance through your credit union for far less.

  • Share:

Category: Car Ownership



« Return to "New Blog"

You may also like:

8/27/2021

Car Shopping With Confidence

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.

Read more

By merrimackCar Ownership
7/14/2021

New vs. Used: The Car Buying Debate

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.

Read more

Car Ownership
MVCU, insurance, GAP
5/10/2022

GAP Insurance Might be Your Hero

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…

Read more

Car Ownership
MVCU, auto loan, car, leasing
3/27/2021

Does Leasing a Car Make Sense?

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.

Read more

Car Ownership
MVCU, car, commercial
2/5/2021

Reading Between the Lines of Car Commercials

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:

Read more

Car Ownership
MVCU, car loan, leasing, buying, car
2/1/2021

Tips & Tricks to Pay Less for Your New Car

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!

Read more

Car Ownership
MVCU, car, insurance, protection
10/8/2020

Car Insurance = Protection

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?

Read more

Car Ownership
MVCU, GAP, insurance
10/1/2020

Why Consider GAP Insurance & How to Save Money on it

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:

Read more

Car Ownership
MVCU, auto loan, car buying
2/5/2020

Smart Car Buying Strategies

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!

Read more

Car Ownership
MVCU, GPS, Navigating, Car Market, New Car, Used Car, Auto Advisor
7/11/2022

How to Navigate the New & Used Car Market

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!

Read more

Car Ownership
MVCU, car, new car, buying car
6/30/2022

Buy a New Car…and Never Miss a Beach Day!

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!

Read more

Car Ownership