Pointers for finding and buying a car
Buying a car can be fun and affordable. Here are some tips to help you get (and stay)
in the driver’s seat.
Where do I start?
The first thing to consider is your budget. It’s important to know what you can
afford. How much can you afford to finance and how much should payments be? We can help
you with this by pre-approving your loan before you look for a vehicle. When we work
out the loan—before the sale—you not only get one of the lowest possible
loan rates, but you also work out which monthly
payments are in your best interest. Once your loan is pre-approved, we can also help you
determine the fair market value of the vehicle(s) you want to buy or trade in.
Once you’re ready to shop, here are some things to keep in mind:
Never buy under pressure
Take your time when shopping. Hasty car purchases
can be disastrous. Patient, non-anxious buyers are rewarded with the best
"fit" for their cars, whether affordable, practical or appropriate for their
needs.
Shop around
Don’t let someone make you feel guilty about
shopping around. A confident salesperson knows you’ll return once you’ve
considered all of your options.
Don't let your ego get the better of you
If someone says, "You don’t think you can afford
that? Yeah, that’s probably too much car for you," just remember it’s not about
what you can afford; it’s about what you want to pay. Sometimes the offered
price is just too much for the car.
Stick to business
Part of the fun of buying a car can be the friendly
sparring with salespeople, but it’s much harder to haggle with someone whom you
see as a friend. Car buying is not about friendship--it’s about getting the best
car for you at the lowest possible price. Enjoy your experience, but when it
comes down to making a deal, remember that you are in the drivers seat.
It's OK to haggle
No price is fixed. After market parts, service
plans and various insurance programs may all have variable prices. Before making
your purchase, you may want to check the auto's Kelley Blue Book value.
Northwest Community Credit Union offers accidental death and disability coverage
and mechanical breakdown coverage on our auto loans. Our prices on these
protection plans are fixed under state guidelines, but plans offered at
dealerships usually have prices which are set by the dealers.
You are never obligated to do anything
Until you sign the loan papers and title transfer, you
are free to walk at any point. Even if you sign a haggle slip that says "I agree to
buy this car if I can get this payment," you are free to cancel the deal for any
reason. If you agree to a price on the vehicle but don’t like the price of the after
market options or service, you should let the dealer know that you feel like walking
away from the deal.
Find a great deal on financing
Dealers and financing are equally important for ensuring
satisfaction with your purchase. Just like you should spend a lot of time researching
the type of vehicle will best fit your needs, you should also find a loan that is right
for you.
Don’t accept a salesperson’s word that a loan rate they
offered is "really good” without researching other loans. An overpriced loan can cost
you more money in the long run, so remember, you don’t have to go with one of the loan
options that you are offered at the dealership. We offer some of the lowest
rates for new and used vehicles and you
can use your credit union financing for any dealership or private seller. You can
find on-site Northwest Community financing at
participating dealerships located
throughout Oregon.