Category: Car Buying

Posts related to Car Buying

There are literally hundreds of different choices of vehicles on the road today. Colors, options, brands, and price all influence our buying decision, but how do you know you’re making the right choice? Let’s take a look at the most important deciding factors.

Price – No surprise here, but price is the most important factor in the car buying decision. How much can you afford per month? Luxury brands like Lexus, Mercedes-Benz, Infiniti and BMW carry much higher sticker prices than their non-luxury counterparts, although they often have very similar features.

Cost of Ownership – How much is this vehicle actually going to cost you to own? This is where things like fuel cost, insurance costs, repair costs, and maintenance all enter the equation. Once again, luxury brands are going to be more expensive in every aspect. A headlight replacement on a Ford Fusion is about $240. The same repair on a BMW 335i? $880.

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We all know the feeling of opening up your banking app or website and having a notification that your car payment is late. Your stomach sinks, heart drops, and all you can think is, “oh crap!” The good news is that there is usually a grace period before your payment is actually considered “late,” and paying your loan a few days late is not going to end up in repossession. The bad news is this can negatively affect your credit and your reputation with the lender. If you really are in danger though, what steps do you take to avoid a repo, and what exactly does it mean for you?

The first thing you should know about repos – nobody wants them to happen. Your lender does not want to take your car back. There is a very long, very expensive process behind it. On average, lenders lose at least $5,000 every time a car [...]

Members AutoChoice wants to congratulate these recent customers on their automobile purchases. Thank you for doing business with us!

5 Ways to Quickly Save $500

Members AutoChoice works most closely with Peach State Federal Credit Union as a lender – and depending on your loan, they can have down payment requirements that range from $500-$2000. So what are the best ways to go about saving that money quickly? It sounds like a difficult task, but can be a lot easier than you think. Here are five ways to quickly save $500.

  1. Stop eating at restaurants! The average per person bill at a restaurant (fast food included) is $10. If you eat out 3 times a week, that’s $120/month you’re spending at restaurants alone.
  1. Reconsider those habits. Maybe you drink 3 sodas a day, or smoke a pack a day, or drink a few beers after work. There’s nothing wrong with any of that, we all have our vices, but these habits cost you thousands of dollars per year. A pack-a-day [...]

When purchasing a vehicle, there are many avenues of payment one can take. You can pay cash, finance through the dealer or a bank, or finance through your local credit union. There are quite a few reasons why the Credit Union route is your best bet, but not for the reasons you might think. Let’s take a look at some of the benefits of using Peach State Federal Credit Union as your car loan lender:

  • Ease of Process – Applying through PSFCU is a quick and painless process. You can apply in person, online, or over the phone, and all three offer avenues to ensure that every question you may have will be addressed.
  • Peace – You can rest assured knowing that your loan and your money are in a safe and secure environment. Dealing with car salesmen can be an intimidating process that a lot of people don’t trust. Credit unions have their members’ [...]

When budgeting for a new vehicle there are many things to determine. After mortgage or rent payments, the car loan or lease will be you next biggest expense item. Calculate carefully on what you can afford and consider everything that goes into a new or used vehicle. Base your search on what you can afford and stick with it. Make two lists, one on wants and one on needs of the vehicle.

The cost for a new or used vehicle includes more than just the monthly payment. It is important to remember when purchasing a new car that the loan terms will require full-collision coverage to protect the lender and because of this when buying a newer model car, insurance may be higher than what you are used to paying. Be sure to check your insurance rates as well as their competitors on the cars that you are interested in before going shopping for a [...]

It is fun to play around with the idea of the future. Humans have limitless potential. The most amazing part is that we have the ability to build of each other’s success. Every new invention has a previous one to give credit to. We would not have cars without chariots. We would not have cell phones without land lines coming first. When it comes to the world of automobiles, there is really no way to tell what the future holds. While flying cars sound like a blast, they are most likely not the next wave of vehicle’s futures. Let’s see what really might be the next big thing in the cars of tomorrow:

  1. Child-Friendly Interaction – Kids spend hours upon hours in vehicles. In today’s world, they either watch DVD’s or play with smartphones. In Tomorrow’s world, it’s likely that we will find vehicles with interactive systems directly targeted towards kids. They will use [...]

If you’re looking to purchase a vehicle in the near future, you have quite a lot of research to do. You need to make sure that the vehicle will fit all of your needs, including size, price, reliability, and style. You have to shop around to make sure that you’re getting the best interest rate on your loan. Almost everything that happens behind the scenes of a loan remains a mystery to most people, because they believe that it’s out of their control. In reality, banks look at the risk of the person and compare it to the risk of the vehicle. Let’s take an in depth look at how Peach State FCU reviews auto loans from start to finish.

The first step is the preapproval. Once you fill out an application and submit your paystubs, the underwriters look at a few main things: Your Credit, Your Debt to Income Ratio (DTI) and your Monthly [...]

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