A car is one of the biggest single purchases most people will ever make,
so it pays to approach it cautiously. From comparing cars to comparing
loans, there is a lot to consider when you invest in an auto. Fortunately,
your credit union can help you make sound finance decisions when you’re
in the market for a car. Since they work for you, not a board of directors,
they can help you find the right
car loans for your needs and your budget. When you make the decision to buy a car,
keep these things in mind when you shop.
Car Safety Ratings
Driving a safe care doesn’t just offer you and your family extra
protection on the road; it also helps to keep your insurance payments
down. Look into the safety records of the cars you’re considering
to see which ones are highly rated. Pick a car that is proven to withstand
accidents better than its competitors and that has an impressive list
of safety features.
Repair Needs and Costs
Whether you buy a new or used car, repair costs are inevitable. Some models
of cars are vastly less expensive to repair than others for a number of
different reasons, including availability of parts and the degree of specialized
training mechanics need to work on the make or model. Look into the required
maintenance for the car you’re considering as well as the average
repair costs for common mechanical issues to get an idea of the ongoing
costs of ownership. If you are buying a less common import make or an
older car that is no longer on the market, make sure there are repair
shops in your area who can handle the repairs.
Before you go to the dealership, it can be helpful to visit your credit
union to discuss your finance options. Be sure to understand all parts
of the loan, including the interest rate and your monthly payments. Don’t
overlook the additional upfront costs of buying a car, including the down
payment, taxes, tags, and fees.
Westmark Credit Union is here to make buying a car as simple as possible
for all of our members, with competitively priced car loans in Idaho and
financial advice as you approach this major purchase. Start the
loan process today by calling (208) 523-1071.