Car Buying Tips - InTouch Credit Union
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Car Buying Tips

Buying Your Next Car Does Not Have to be a Battle

The process of buying a car does not have to be an unpleasant experience…and given the cost of the purchase it should be enjoyable. Much of the unpleasantness many experience revolves around the negotiation of the purchase price and the financing of the purchase. Here are a few tips to reduce the stress around those two important parts of the process.
  • Know how much you can afford before you shop. Sure, most dealers have their own financing department who can find a way for you to buy what you want, but it is a lot less stressful to shop knowing how much your budget can really afford and what that means in terms of the true cost of the purchase. Remember, the interest rate is only one factor in the cost — an extra six or twelve months on the term can add thousands to the final cost of the vehicle.
  • Shop online first. Research the models you are interested in to understand the different packages available and price ranges using online pricing guides and the dealer sites themselves.
  • Get pre-approved for financing. Knowing you have your purchase financed before you walk on the lot takes a lot of stress out of the final stage of the process. Sure, the dealer may try to offer you a different financing deal but be sure to compare total cost of your options before switching to their “deal.”
  • Get a quote before you go to the dealer. Most dealers now have a department for handling quote requests from their websites. Once you have decided on the model and features you want, request a quote from area dealers who stock it. Be sure to tell them that you are getting quotes from other dealers but that you have financing and are ready to buy.
  • Choose the best deal. Remember to choose based on more than the price. Who had the best customer service? Which dealer has the best reputation? Are they close enough to use their service department for warranty and maintenance work?
  • Notify the winning dealer and determine when and who you will meet at the dealer to finalize the purchase.
Don’t forget we can help reduce the stress by providing you with a pre-approved auto loan before you shop, plus friendly financial advice!