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MVCU, auto loan, car buying
Home / News & Financial Education / 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.

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Category: Car Ownership



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