An automobile is a major investment. Just think about it: In the last 10 years, have you bought anything that costs more than a car? A house or your kid’s education, maybe. Yet, unlike a house, a car is not going to appreciate in value; and unlike an education, an SUV is not going to increase your offspring’s earning potential.
A car isn’t an investment after all, because you’re not going to receive a return on it. It’s an expense, and the best you can do is to get the maximum use and pleasure from the money you spend. Getting the most out of your car is a matter of careful maintenance. Getting the most out of your money is a matter of getting a good price on the car and a good deal on the related financing.
Negotiating a good price on your car can be stressful, but arranging for a good deal on your loan doesn’t have to be. Most people think of banks and dealer financing when they think of car loans, but what about your credit union? Credit unions can offer the best, most flexible terms and the fastest loan process available to you. Here are a few tips for making your next auto loan hassle-free:
- Before you go car shopping, see us for a pre-approved loan option. Pre-approval will mean you have one less thing to worry about when you find the vehicle you want.
- Liberty Savings maintains a network of car dealerships that work to give better rates and simplify the purchase process for our members. Did you know that as a Liberty Savings Member, you’re entitled to discounts at Hudson Toyota and Enterprise Car Sales?
- Never miss a payment when you set up an auto payment plan for your loan. This gives you peace of mind and can earn you an additional discount on your rate.
- Already have a car? You can refinance an existing loan on the car you currently drive–lowering your rate and putting money back into your pocket.
- As one option, your credit union offers a kind of vehicle loan that would make the interest you pay tax-deductible, since your home is held as collateral. Consult your tax adviser for information on tax-related issues.
- We can help you insure your vehicle for its replacement value in case of total loss, rather than the cash value that is more typical of the policies that are offered by most insurance companies.