1. Consider your needs. How many people will typically ride with you? How ample is your parking area? What kind of driving conditions do you routinely face? Is fuel economy important to you? Focus on how the vehicle will be used, rather than which vehicles are the most stylish or popular.
2. Let your budget drive you. Along with monthly loan payments, remember to factor in insurance, maintenance and fuel costs.
3. Investigate prices. To improve your negotiating position, learn the invoice price, MSRP (Manufacturer’s Suggested Retail Price) and average selling price of any car you are considering.
4. Research your choices. Learn more about Car Buying Tools, Tips and Tutorials with online resources from your credit union. If you’re shopping for a used car, get a free CARFAX vehicle history report from us. This can help determine whether the vehicle has ever been severely damaged by accident or flooding, for example.
5. Visit us first. You might be tempted by a dealer’s special financing, but keep in mind that only the very best credit records qualify. Other options might be a better deal. Hanscom FCU’s loan rates are some of the best around, so check the latest auto loan rates before you begin car shopping.
6. Focus on the drive during the test drive. Try to replicate the driving conditions you and your future passengers will routinely face, and don’t be distracted by the salesperson or the radio. Listen to our Drive Away Happy podcast for more car buying tips.
You can apply, get approved and close your loan online, even with a co-signer. Visit www.hfcu.org, and click Apply Now to get started.