Because Buying a New Car Should Be Fun!!
Springtime is a very popular season for people to buy new automobiles and motorcycles. If you are in the market for a new car, truck, SUV or motorcycle, reading these tips can save you money and prevent buyer’s remorse!
- Before heading to the dealership, KNOW YOUR CREDIT SCORE! If you haven’t reviewed your credit report in a while, you should! Viewing your credit report can be done by visiting annualcreditreport.com (one free report per year) or by visiting one of our four convenient locations. Your credit score determines the rate you will pay for a loan or lease.
- Get PRE-QUALIFIED for a vehicle loan at New Dimensions Federal Credit Union! Before you begin shopping for a vehicle, we can help you determine a payment that fits into your monthly budget. Plus, you will know how much you can afford to spend for the vehicle including tax, title, etc. This will help you determine which vehicle to buy and what you can realistically afford. You can even apply for a loan on our website.
- DO YOUR RESEARCH on vehicles that you may want to buy. This includes safety records, online reviews, and available options. It is a wise idea to view the inventory of at least 3 dealerships to compare prices, too. Most every dealership has a website which allows you to see their inventory from the comfort of your own home and compare prices. Be sure to research the dealership, too…reputation matters!
- DO MORE RESEARCH! Websites such as nadaguides.com and kbb.com will help you determine a vehicle’s value. If you are trading your existing vehicle, research how much it is worth with these sites, too. *NOTE: compare BOTH sites as they can be a bit different in price. Vehicle prices can rise and fall daily.
- BRING A FRIEND OR FAMILY MEMBER to the dealership with you. Your shopping buddy can take notes on vehicles as you test drive and help you stay on budget, too. Impulse purchases are almost always a regret!
- TEST DRIVE AND EVALUATE! Drive the vehicle to a shopping plaza to inspect it or ask to take it overnight. Evaluate the following: visibility/comfort, road feel/noise level, heat/air conditioning, radio quality, interior or exterior dents, rust and fabric tears. Ask yourself, “does this vehicle fit my lifestyle?”
- WIN THE NEGOTIATION! Not good at haggling for the best price? We can give you some great negotiating tips. Before you buy your next vehicle, call Tanya Verzoni, our Director of Financial Education, she will be glad to walk you through the sales process! She can be reached at 207-872-2771.
A well-prepared shopper makes for a happy buyer.