Spring is in the air. Warmer weather is on the horizon. Wouldn’t a new—or new to you—vehicle look good in the driveway?
Spring and summer tend to be some of the busiest times of the year to go vehicle shopping. But that doesn’t mean you can’t get a good deal. The auto industry is predicting a decline in sales in 2018, attributed to Americans keeping their cars longer. Additionally, low interest rates are turning higher. Now may be the right time to consider your next vehicle purchase!
What do I need to consider before I buy?
Looking for a new vehicle can be fun, but it can also be a little overwhelming. For most of us, it only happens once every handful of years. We may forget some of the aspects that go into the buying process. You may want to consider the following before you start shopping.
- Your monthly budget. With all of the expenses associated with a vehicle purchase—monthly payment, insurance, gasoline, maintenance, property taxes—your vehicle-related expenses can be one of your largest monthly expenses.
- Your down payment. If you want a lower monthly payment, you may need to put more money down in the beginning.
- Your financing options. There are a lot of options. From competitive rates at financial institutions to dealer incentives, it takes due diligence on your part to determine the option that is best for you.
- Your monthly payment. There are several online calculators available that can help you determine your monthly car loan payment or your car purchase price. By using the calculator, you can see how different loan terms or down payments can impact your monthly payment.
I like my car. Maybe I should refinance my loan.
Do you have a car you love but it’s financed elsewhere? Did you know that you can refinance your loan with Vantage? We may be able to match or lower your current rate* and give you cash back! If your refinanced loan is a minimum of $10,000, we’ll give you $100 in cash. When you refinance anything over $20,000, you’ll get even more cash back. We even pay the title fee. It’s that simple!
Refinance your vehicle loan with Vantage today!
Get pre-approved before you visit the dealership.
Ready to shop? Take a look at our Direct Dealer Network.
Not a Vantage Credit Union member?
* For qualified borrowers. Rate will be matched for the remaining loan balance and term with an LTV of 115% or less. Minimum loan amount must be $2,500.