Many people purchase cars for the holidays for a variety of reasons.
Some people give cars as gifts to loved ones and others just take advantage of all the sales and end-of-year pricing happening on car lots at this time of year. If you are purchasing car this holiday season you’ll want to make sure you walk in prepared to get the best deal, so we’ve put together a list of tips to help you buy a car this holiday season.
- Get Pre-Approved
Dealerships will have their own financing options, but it may not be the best option for you or they not even offer the lowest APR (annual percentages rate). By getting pre-approved by an institution like Palisades Credit Union you will know exactly how much you can afford, and we may be more willing to work with you if you have a lower credit score than a dealership. Read more about getting preapproved for a car loan with a credit union vs. financing with a dealer.
- Do Your Research
Before you get to the dealership know what kind of car you want, and what features. If you walk on to the lot without an idea of what you want, or don’t want in a car you may end up paying more than you can easily afford, or be talked into buying a lot of features you won’t use. Decide whether a new or used car is the best option. Being prepared will help you stick to your budget.
- Compare Prices and Warranties
Once you have a car picked out, don’t just go with the first price you see. You should email or call three dealerships that have the car you want in stock and ask for the total sales price. You can compare these prices and go with the best one, or if you want to, see if your preferred dealer will match the lowest quoted price. You should also try and choose the dealership that offers the best warranty, and can use the same tactic for getting the lowest price to get a better warranty.
If you do have any questions about financing a new car in Nanuet, New City, or Orangeburg this holiday season or what you can afford, we’re here to help you. You can come talk to us in person at any of our branch locations, or take advantage of our online auto loan application and get pre-approved for an auto-loan! Find out if a Palisades CU auto loan is the best car loan for you.
View current auto loan rates in Rockland and Bergen Counties.
Related blog: Financing vs. Leasing A Car
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