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.

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!

Making a car purchase is a big investment. Help protect your auto loan with Credit Life and/or Disability Insurance, Mechanical Repair Coverage, or Guaranteed Asset Protection. Here's an explanation of each:

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

Your purchase of MEMBER'S CHOICE® Credit Life and Credit Disability Insurance, underwritten by CMFG Life InsuranceCompany, or MEMBER'S CHOICE TM Guaranteed Asset Protection (GAP) is optional and will not affect your applicationfor credit or the terms of any credit agreement required to obtain a loan. Certain eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative, or refer to the Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding the product fee to your loan amount will increase the cost of GAP. MEMBER'S CHOICE® Mechanical Repair Coverage is administered by Consumer Program Administrators, Inc. in all states except AK and CA, where coverage is administered by Virginia Surety Company, Inc., in WA, where coverage is administered by Automotive Warranty Services, Inc., in FL, LA , OK and WI, where coverage is administered by Automotive Warranty Services of Florida, Inc. (Florida License #60023) and in AZ, where the Obligor and Administrator is Consumer Program Administrators, Inc., all located at 175 West Jackson Blvd., Chicago Illinois 60604, 1-800-752-6265. This coverage is made available to you by CUNA Mutual Insurance Agency, Inc. In those states where MEMBER'S CHOICE® Mechanical Repair Coverage is offered as insurance (form MCCU-001-MBI) it is underwritten by Virginia Surety Company, Inc.

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