The information below was provided by Navigator Credit Union:
You have some great memories with your car. It has been a fun ride, but you are starting to think it is time for an upgrade. Navigator wants to help you save money and avoid bumps on your journey. Kari Canterbury stopped by the studio with some tips to help you cruise through the process.
Consider your needs
Do you need an automatic or manual transmission? How many people will typically ride with you? How ample is your parking area? What kind of driving conditions do you routinely face? Focus on how the vehicle will be used, rather than which vehicles are the most stylish or popular.
Let your budget drive you.
Online calculators can help you estimate expenses and payments. Along with monthly loan payments, remember to factor in insurance, maintenance and fuel costs.
To improve your negotiating position, learn the invoice price, MSRP (Manufacturer's Suggested Retail Price) and average selling price of any car you are considering.
Research your top picks.
If you're shopping for a used car, run a vehicle history report, based on the vehicle identification number (VIN). This can help determine whether the vehicle has ever been severely damaged by accident or flooding, for example. If you're shopping for a new car, check out industry reviews and consumer ratings.
Visit your financial institution first
A dealer's "special" financing may be tempting, but keep in mind that you may not qualify, and other options might be a better deal.
This is a great time to buy. Get moving with an auto loan from Navigator May 6–June 6, 2019, and take advantage of some special limited time offers. In addition to great rates, flexible terms and affordable GAP coverage, you could be one of three lucky Members who hears, “We’ll buy your car tag!” You can also opt for no payment for 90 days. Click here for complete details.
Focus on the drive during the test drive.
Try to replicate the driving conditions you and your future passengers will routinely face, and don't be distracted by the salesperson or the radio.
Navigator has served communities on the coast for nearly 80 years. In 1939, the credit union began offering savings accounts and loans to local shipyard workers who, until then, had not had access to financial services. Today, Navigator is a full-service financial institution offering interest-bearing checking accounts, high-yield savings plans, unlimited rewards credit cards, mortgage services, competitive vehicle loans, retirement planning and more. Visit their website for additional information.