Premium styling. Flawless paint. Glistening tires. That unmistakable new car smell. Everything about a new vehicle practically begs you to buy it. When you close your eyes and think about driving your brand-new set of wheels off the lot, it quickens your pulse a little, doesn’t it? Shopping for your next vehicle is a uniquely exciting experience. Until you look at the price tag, that is.
If you haven’t priced cars recently, you may be surprised by the figures you find. According to a 2018 report by Edmunds, the average loan amount for a new car jumped to more than $32,000, and the average monthly payment rose to $558. Sure, the latest models may be nice, but facts are facts—that’s a lot of money to pay for a car.
Now, before we go any further if you’ve been saving up for your dream car and figured out how to buy it without demolishing your budget, then by all means, go for it! But if you find yourself in the market for a new vehicle and you want to avoid overspending, we’ve got five tips to help you hang onto more of your hard-earned money.
5 Ways to Save Money When Buying a New Car
When you’re ready to start shopping for your next car, we’re confident that you can handle the research portion on your own. But when it comes to the financing and pre-approval, do yourself a favor and contact us here at United Community Credit Union. In most cases, we can offer lower rates and more flexible terms than traditional banks or lenders. Thanks to our competitive auto financing programs, a simple phone call can save you thousands of dollars over the life of your loan. Give UCCU a call today. You’ve got nothing to lose—except months of unnecessary interest payments!
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