5 Smart Tips for Purchasing Your Dream Car
There is nothing more exciting than getting behind the wheel of your brand new car; whether it is the latest model on the lot or just new to you! Before you go car shopping pump the brakes. We have created 5 easy tips to help save you money and set yourself up for financial success before you start shopping!
1. Get Pre-Approved
Know your credit score. It is as simple as that. If you do not know your score you cannot truly calculate your monthly interest rate and determine how much car you can afford. If you have a low credit score you may want to find ways to boost your score for your future ride to ensure you can get the lowest interest rate possible.
2. Do Your Research Beforehand
Don’t wait until you walk onto the car lot to decide what kind of car you want. The less knowledge you have stepping into a dealership the more at risk you are for a sales representative trying to upsell you. Know the car you want, the options you have for buying new or used and be firm in how much you are willing to spend. Need help finding your dream car? Take advantage of our FREE Auto Search Tool or Auto Buying Service by CLICKING HERE.
3. Calculate Your Monthly Costs
Determine how much car you can afford by evaluating your budget and reoccurring monthly expenses. Factor in not only the auto loan payment itself, but the auto insurance payment as well. Get a quote from your car insurance provider and determine what you can afford total monthly. Need help with insurance? CLICK HERE to contact our no-cost, no-obligation representative with Liberty Mutual.
4. Aim for Shorter Loan Terms
The shorter the loan length the more you save in the long run. Paying off your loan quicker means paying less interest over time!
5. Refinance & Save
Maybe you didn’t get the best deal originally or your credit score has improved. Either way, there are many situations where refinancing your existing car loan can save you money. Credit Union of Georgia is proud to have some of the lowest loan rates to save you money. Check out our auto loan rates by CLICKING HERE.