Car Purchasing Tips & Credit Union Auto Loans in New Bedford

So you’re ready to buy a new car. Whether the car you want is brand new off the lot or a used vehicle from a local dealer, it is important to know what you want and how much you want to spend before you go shopping in-person. Purchasing a car is a big decision. You do not want to make a hasty decision that you will regret or get saddled with payments that you can’t afford. Take time to research the vehicle that you want and consider getting a pre-approved offer for a credit union auto loan to get the best interest rates in New Bedford.

The Benefits of Membership
Another great reason to join a credit union in New Bedford is having the opportunity to take advantage of all the benefits of membership. As a member, you can apply for all sorts of loans and savings opportunities. Credit union auto loans and home loans are quite popular and are ideal for members who want to get a great deal or want to avoid dealing with all the hoops that one typically goes through when they want to get a loan at the point of purchase. You can even start saving for a down payment by taking advantage of a New Bedford money market account, certificate of deposit or other standard share savings account.

Smart Car Buying Decisions
When it comes to buying a car, it pays to take your time. Take time to research the vehicle that you want and get all of the information on the average cost, the features, insurance premiums, maintenance, and anything else that matters. Will you be driving the vehicle short distances around town or longer distances for a commute? Is the car for business use or family trips and adventures? There are lots of reasons to buy a car, so it is important to consider everything before you make a decision. The more prepared you are with facts and information, the easier it will be to choose a vehicle based on knowledge instead of emotion.

  • Get Multiple Quotes – Even if you have to drive a bit out of your way to find another dealer that has the same make, model and year of car that you want, it is worth it if you can get a better deal. Get quotes from multiple dealerships and compare the features, mileage, and other relevant variables across the board.
  • Get a Blue Book Quote – Your next step is to get a free quote from Kelley Blue Book (www.kbb.com) for the make, model and year of the vehicle that you are considering. KBB is a vehicle valuation and automotive research company that is regarded as a trusted source by most car dealerships and insurance agencies for determining the value of a particular vehicle.
  • Consider Your Budget – How much do you think you can afford to pay each month for a car payment, insurance, and regular maintenance of a new vehicle? Sit down and do a budget to determine the amount you can comfortably afford without putting yourself in a bad financial situation.
  • Visit Your Credit Union – Yes. You read that right. When you visit your credit union in New Bedford to talk about credit union auto loans, you gain options that can help you to make smart purchasing decisions. You also have the opportunity to get the best interest rates in New Bedford. As a member of St Anne Credit Union, there are lots of great loans and savings opportunities available to help you achieve your goals.
  • Get a Pre-Approved Financing Offer – Speak with a representative at your credit union to determine if you qualify for a pre-approved financing offer. When you visit a local car dealership with a pre-approved offer in hand, you gain a huge advantage over shoppers who still have to haggle it out with the lender to get approved for purchase. You can even use money from your New Bedford money market account or share savings to use as a downpayment and increase your approval options.
  • Prepare to Walk Away – This is a huge advantage, as long as you don’t abuse it. When you visit a car dealership in Southeastern Massachusetts, be prepared to walk away – even if the vehicle that they have is exactly what you want. If the price isn’t what you were expecting or if anything doesn’t feel right about the purchase or what is being represented, be prepared just to walk away. There are plenty of other cars and dealers out there for you to consider. You don’t want to allow yourself to get pressured into anything that doesn’t feel right.

Credit Union Auto Loans at St Anne Credit Union
If you are looking to join a credit union in New Bedford, consider one that has been around the longest. St Anne Credit Union in New Bedford has been providing quality services to members within Plymouth and Bristol counties since 1911. For over one hundred years our members have counted on us to provide them with options, opportunities, and benefits that just aren’t available through traditional banking institutions. Give us a call at 508-993-0011 and learn for yourself why so many locals trust us for credit union auto loans, home loans, and New Bedford money market account opportunities.