Tag: Car buying tips

Posts related to Car buying tips

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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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 [...]

Your credit score is one of the most important numbers that you will come across in your lifetime. Unless you have a lot of extra cash lying around, any big purchase you make is made through credit. Your house, your car, and any type of loan will factor your credit score to determine your price. The most important part – a poor credit score means you will pay more for whatever the purchase is. Let’s look at what exactly your credit score is telling you and what you can do to boost it up.

In its simplest form, a credit score is basically your report card. It tracks all money and services loaned to you: car payments, credit cards, utility bills, etc. If you are paying everything on time consistently, you probably have a pretty good score. If you are missing payments or are late on them, your score will reflect that.

While your score [...]

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 [...]

If you’ve seen the movie iRobot, you probably remember the massive busses that rolled on balls rather than wheels, and his self-driving Audi that hit monstrously high speeds and was more of a hover-car than an actual one. If you haven’t seen the movie, I highly recommend, but here is a picture for reference:

The movie is set in 2035, and super intelligent robots essentially run the world. Even today, some of the things in that movie seem a bit absurd, but we may actually be closer than we think.

Google has a project called the Self-Driving Car (SDC) that is using some remarkable technology. 3D Mapping, Radar, and GPS tech all drive the system to interpret and analyze road conditions and surroundings.

While this technology is still quite new, beginning in 2009, the SDC project has logged over 2 million miles driven! It’s been subjected to an amazing amount of driving scenarios to process, [...]

Navigating the automotive industry can be a daunting task. Not only are there hundreds of thousands of vehicles around you, there are hundreds of places that all claim to have the best deal. There are countless ways to own a vehicle, many ways to pay for said vehicle, and many things offered your way to “sweeten up the deal.” With all these different variables going in to your car buying experience, there’s quite a lot of room for things to go wrong. What do you do when you’ve found yourself on the wrong end of a bad deal? Let’s look at some of the most common “mistakes” buyers make, and what you should do to get out of them:

  • The Lease – Leash: Leased vehicles are a tricky topic. The vast majority of the time, consumers are better off buying their vehicles. While payments during a lease will be quite a bit lower, you [...]

When it comes time to purchasing a new vehicle, consumers may have old cars they are ready to get rid of. Plenty of dealerships offer trade values and sometimes even incentives for the new vehicle looking to be purchased. These incentives can include things like $1,000 rebate for trading in the same make of the new car (Volkswagen for Volkswagen). There are definitely aspects to consider when looking to get the best price on a trade vehicle.

  1. Research- Make sure to research what the trade vehicle is going for on websites like NADA and Kelly Blue Book trade value. Kelly Blue Books prices will be higher because they give numbers in a surreal setting that is not always realistic on the wear and tear of a vehicle. Also, look into the AutoCheck report on the vehicle and make sure there is nothing on record that the dealership may come across that was not already [...]

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

The annual cost to own a new or used vehicle includes more than just the monthly payment to your lender.  It is important to remember when purchasing a new or used car that the most lenders will require full-collision and comprehensive insurance coverage to protect them. Because most lenders require the full coverage buying a late model car or a new car, your monthly insurance payment may be [...]

When it comes to purchasing a vehicle, new or used, maintenance should always be a cost factored into the price of a vehicle. It is inevitable for a car to need repairs, due to normal wear and tear on the vehicle. Although all new cars and some used cars that are newer come with manufacturer’s warranties; it does not necessarily mean the car is fully covered.

Extended warranties can be purchased to cover almost all vehicle components but regular maintenance and can be used even if there is still a manufacturer’s warranty on the car. Most manufacturers’ warranties have a very short bumper to bumper coverage, and a slightly longer power train warranty to take place afterwards. For instance, Nissan has a 3yr/36,000 mile bumper to bumper warranty and a 5yr/100,000 mile power train warranty. This means that Nissan can advertise a warranty for as long as 10 years or 100,000 miles, but that does [...]

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