Car buying isn’t always as fun as you want it to be.
Pushy salespeople make you tense. The huge number of options makes finding your way confusing. You don’t understand the difference between a dealership or credit union loan.
Let’s lower your anxiety and raise your new car’s affordability with these tips:
- Know what you can afford before shopping. This tactic narrows your options and prevents a salesperson from pressuring you into an expensive vehicle. A good rule of thumb is that all car-related expenses (including gas, insurance and repairs) should be no more than 20% of your take-home pay.
- Get pre-approved for an auto loan. Your credit union provides loans to purchase vehicles, and these loans are often more transparent than dealership loans. Plus, a pre-approval gives you a price limit you won’t cross. Get pre-approved quickly and easily on our website.
- Test drive the right model. Dealers are notorious for putting you in the top model for a test drive, even if it’s not in your price range. Why? It’s a psychological trick to make you disappointed with the cheaper model. Don’t fall for it! Double check you drive the right model and stay happy with what’s affordable.
- Research your purchase. Review online resources like consumerreports.org or edmunds.com to gain confidence in your vehicle choice. Visit individual dealer websites for a better idea of what’s available and price ranges.
Now that you’re armed with knowledge, you’re ready to tackle the challenges of car buying and get the perfect vehicle for your family. And your credit union wants to help you stay within your budget while you do it.
Learn more about auto loans.
Apply for an auto loan pre-approval today and don’t overspend at the dealership.
