Auto Buying Center

	PURCHASING ADVICE Online Coaches • Anytime Adviser New Car Buying Tips • Anytime Adviser Used Car Buying Tips • CarFax.com PRICING RESOURCES • NADA New Cars Guides • NADA Used Cars Guides • NADA Classic Cars Guides • NADA Motorcycle Guides • NADA RV Guides • NADA Marine Guides RATES & CALCULATORS • How much can I afford? • Auto Rates BEFORE YOU BUY • Purchase checklist • Repos for Sale • Apply Now

Before You Shop
Some people cringe at the thought of car shopping, but buying a new or used car can be a pain-free experience if you prepare yourself. The internet has proven to be a useful tool for consumers and can provide you with the information you need to make a great deal. Before you step a foot on the showroom floor, follow these simple steps:

1. Decide what is important to you: safety ratings, gas efficiency, reliability?
2. Know the car’s value. Check NADA for car prices so you can decide what is a fair price to pay for the vehicle. Very few vehicles actually sell for MSRP (Manufacturer’s Suggested Retail Price or “sticker price.”) Negotiate a sales price from the invoice price up  - not down from the MSRP. Taxes, registration, and transportation costs are not included in MSRP.
3. Figure out how much the car will cost and what an approximate monthly note may be.
4. Do your research. Once you decide on a vehicle, contact your insurance agent for an insurance quote. You will need full coverage insurance if you are financing your purchase. Don’t forget to factor in this monthly expense when you are deciding what you can afford.

Financing the Deal
In order to negotiate the best price, be sure to get pre-approved at your credit union first. This way, you already know what you can afford to spend. Often times, dealers offer rebates which helps to lower the cost of the vehicle. Car manufacturers often offer rebates when there is a heavy inventory of a particular vehicle or when they need to make room for newer models. Sometimes, buyers have the option of choosing between rebates or zero percent financing – but not both. In most cases, you are better off taking the rebate rather than zero percent interest. Losing out on the rebate means you pay more for the car – more than if you would have taken the rebate and financed at a low rate. Not sure? Let us help you figure out your better option or use this Dealer vs. CU Financing calculator.

Protecting Yourself
Making a car purchase is a big investment. Protect your investment with Credit Life, Disability, Mechanical Repair Coverage, or GAP insurance. Here’s an explanation of each:

• Credit Life covers the entire loan balance in the event of a borrower’s death
• Disability Insurance covers loan payments for up to 120 months in the event a borrower becomes disabled
• Mechanical Repair Coverage (MRC) provides repair cost protection to supplement and extend the manufacturer’s warranty on new or eligible used vehicles. It helps protect members against the cost and inconvenience of breakdowns
• Guaranteed Asset Protection (GAP) Insurance  is designed to relieve the borrower from the responsibility to repay the remainder of the loan balance not covered by their primary insurance when a vehicle is totaled or stolen