Auto Buyers Guide: How to Get the Best Deal

When you decide to buy a vehicle, it can be tempting to jump right in and start hunting, but there are some important factors to consider from the start. Before you begin the internet search, decide how much car you can afford and the type of vehicle you want. Do you want a new car every few years? Do you need more space? Can you afford the insurance and maintenance? Answering these questions helps you find the vehicle that best fits your needs.    

Live Brighter

With the credit union that puts you first

Auto Buyers Guide: How to Get the Best Deal

4 Oct 2017

Auto Buyers Guide: How to Get the Best Deal

When you decide to buy a vehicle, it can be tempting to jump right in and start hunting, but there are some important factors to consider from the start. Before you begin the internet search, decide how much car you can afford and the type of vehicle you want. Do you want a new car every few years? Do you need more space? Can you afford the insurance and maintenance? Answering these questions helps you find the vehicle that best fits your needs.  

We have great resources if you’re not sure how much you can afford or curious about how much a monthly payment will be for a certain car. These tools can help you understand where your finances stand and help guide you to the right vehicle.

Here are some things to keep in mind once you walk into the dealership:

Keep your bottom line top of mind. Once you’ve decided how much you can afford and what you want to spend, stick to it! Don’t let a dealer talk you into a vehicle that isn’t right for you. Knowing what you want and need will help you pick the right vehicle at a price point you can afford.

Don’t negotiate around a monthly payment. Redstone Federal Credit Union® can pre-approve your loan before going to a dealership. This means you’ll already know what the monthly payment will be on any car that qualifies for the loan amount. A dealer may try to convince you to buy a more expensive car with a longer lease, meaning your monthly payments are less, but in the end you’re paying more for a longer period.  Getting pre-approved gives you a boost of confidence during negotiations, since you know exactly what the payments would be.

Don’t buy unnecessary extras, such as corrosion protection, paint sealant and fabric protection. You may end up spending hundreds of dollars on these add-ons and never use them. You may get caught up in the moment while in the buying process, so take some time to think about what you want done before making an impulsive decision at signing.

Investigate other warranty options. Consider Redstone for your extended warranty and Guaranteed Asset Protection (GAP) coverage — which pays the difference between what you owe and what your insurance will pay in case your car is totaled or stolen. Mechanical Breakdown Protection (MBP), is a warranty that can help you pay for unexpected repairs. You may find that buying these outside of a dealer can save you money.

Redstone works with more than 80 dealers, located throughout North Alabama and Middle Tennessee. Didn’t have a chance to get your loan pre-approved before going into one of these dealerships? No worries. Apply for a Redstone auto loan onsite, sign the loan agreement, and walk out with your new or used car.

Don’t have an account with Redstone? These dealers are also authorized to take your membership and loan application — many in one visit. Look here for a list of authorized dealers in your area.

This article was adapted from our Aspire! member newsletter. See all the articles here

Auto Insurance 101

Auto Insurance 101

Confused about auto insurance? We give you all the facts in this free eBook! Learn about insurance lingo, how to choose the right plan, and ways to get the best deal. 

GET IT NOW

Related Posts

LOCATE A BRANCH OR ATM

X Close