Get the Car and the Price You Want.
At ECCU, our goal is to provide the information you need to make good financial decisions. After all, we’re your financial partner; looking out for you is what we do. Now that the temps are going up, it’s time for us to brush the dust off our best car buying tips. Whether you’re in the market to buy a new or new-to-you car, here are 20 things to keep in mind.
- Whenever you’re making a significant purchase, check emotion at the door.
- With research and resources from ECCU, feel confident that you can make an informed decision.
- Write down what you must have in the vehicle.
- Then write down the extras you’d like.
- Narrow the features down. Determine which vehicles (make and model) fit your must-haves.
- Consider safety features, fuel efficiency, insurance costs, and more. Our friends at Nulty Insurance would be happy to provide you with an insurance quote for comparison.
- Do everything you can to research your car. Stop in and see us for help. Also, let the internet assist with the info you need.
- Look for online pricing guides that let you compare features, customer reviews, and MSRP vs. Retail pricing.
- Understand dealer invoice pricing so you can be poised to make a solid offer. Experts say 3-5% over dealer cost is fair. Use online resources to compare pricing.
- Research the value of your trade-in, too. Don’t trade your car in if you still have a loan balance.
- Decide between new or used and whether to lease or buy.
- Get pre-approved for the financing. At ECCU, we can review your budget and help to give you an accurate idea of what you can afford for a new car purchase.
- Also, know your credit score before you go car shopping. We can assist with a credit review when you stop in or call us to discuss the financing.
- Don’t shop by payment alone; you’re more likely to overspend or extend the term too long.
- Ask friends or co-workers to recommend a car salesperson. There are honorable professionals; find one you can trust via a referral.
- Be careful of scams, high-pressure sales, or any over-the-top sales language, like ‘We’ll get anyone into a new car for less.’
- Don’t give your personal information (such as a driver’s license or social security card) to anyone before you decide to buy.
- Don’t commit to buy during your first dealer visit. Take your time.
- Be prepared to say no. Remember, the dealer doesn’t want you to leave without closing the sale.
- Step back from the deal if you’re not certain.
Source: GreenPath Financial Services
Chat with our financial coaches and learn about buying a car and the best deals in financing.
This site offers a plethora consumer information on new car buying.
Capture Your Credit Union GM Discounts
Through GM’s Love My Credit Union member discount, all current and eligible ECCU members can receive preferred pricing* when they purchase an eligible, new GM vehicle. This is in addition to most current incentives and special offers. Click here and learn more.
*Must be a member of a participating credit union. A statement or membership card for the credit union will be required as proof of eligibility at the dealership. Not available with some other offers. See dealer for details. Discount is available to members no matter where they finance their purchase.
Comparison Pricing Made Easy
Shop for the financing as carefully as the car.
Remember, it always pays to shop for the financing as carefully as you do for the car. Avoid signing at the dealer for dealer financing – rates are often higher with other hidden costs or add-ons you don’t see up front. And don’t just compare payments. Shopping by payment alone can lead you to spend more than what’s best for your budget.
Let us help you find a loan amount just right for you, while you save with our excellent loan rates. At ECCU, you’ll never pay an application fee or a prepayment penalty. When you’re ready to start new car shopping, apply online or stop and see us. We can help to explain more and even get you pre-approved for the loan.
*Annual Percentage Rate (APR) for a 36 month term.
Some restrictions apply. See complete details.