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:
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:
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.