Auto Loans and You: How to Take the Next Steps to Driving Your Dream Car
Buying a new car is exciting. It’s also one of the biggest purchases most people will make.
Unless you pay with cash, an auto loan will most likely be part of the journey. The good news is that the right loan can help keep your monthly payment manageable while making it easier to drive away in the vehicle that fits your lifestyle, like that dream car, a reliable family SV or an electric vehicle you’ve been wanting.
Before you head to the dealership, follow these few simple steps that can save you money and help you shop with confidence:
- Do a little homework. Search for the best deal using helpful websites that display price ranges for affordable new and used vehicles.
- Shop around. Some dealerships might even offer you a better deal than others.
- Know your budget. Make sure you are realistic about how much you can put down as a down payment and how much you’ll need to borrow to finance the vehicle. You don’t want to spend more than you can afford.
- Check your credit. You’re entitled to one free credit report each year from each of the three major credit bureaus. A good credit score can help you qualify for a lower interest rate. To request a free credit report, visit www.annualcreditreport.com.
Once you’ve selected the right vehicle and determined how much you’ll need to borrow, reach out to your credit union. While dealerships may offer financing, they often raise interest rates to boost profits.
Piedmont Advantage Credit Union’s competitive rates could save you money, and they aim to help you get approved quickly.
We’re here to help every step of the way, whether you need to speak with one of our Certified Credit Union Financial Counselors or have quick questions for our Member Relationship Team.
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Auto Loans and You: How to Take the Next Steps to Driving Your Dream Car
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We’re Here to Help
At PACU, we want to help you take control of your financial future. Open an account or schedule an appointment with one of our trusted advisors to learn more.
Headquartered in Winston-Salem, North Carolina, and founded in 1949 within the aviation industry, Piedmont Advantage Credit Union (PACU) serves member-owners, who reside, work, worship, attend school or operate a business in one of the six counties it serves in North Carolina or who are employed by one of its many employer companies. These six counties are Davie, Forsyth, Guilford, Iredell, Mecklenburg and Rockingham.