Car Buying

Maximize Your Car Savings on Your Next Car Purchase

Knowing how and when to buy a car is crucial to getting the best deal. Too often, consumers jump quickly into purchasing and end up with a not-so-great, sometimes disastrous, deal. By preparing ahead of time, you will be at an advantage. Following are just a few tips:

1) Days/weeks/months matter.

Tuesdays and Wednesdays are generally slow days for dealers, so business is slow. Also, dealer sales staff usually have monthly goals to meet, so aiming for the end of the month, even better the end of the year, can be fruitful.

2) Timing is everything.

You may think that going to the dealership in bad weather or late at night will get you a good deal, but that is often not the case. Sales staff is usually privy to this strategy and will often not hesitate to wait you out.

3) Take advantage of Lafayette Federal financing!

One major consideration in the process is getting the right financing. Lafayette Federal rates are very competitive and combined with guaranteed savings from TrueCar®Opens in New Window, you’re sure to get a great deal.

Rates as low as 2.375% APR*
Borrow up to 84 months**
Fast approval process

See how affordable your monthly payment could be:

Loan Amount	$15,000
Term	48 months
Rate	2.375% APR*
Monthly Payment (approximate)	$328.00

Find Your Perfect Vehicle

Determine your needs by looking for models that match your needs. Factors to consider include reliability, safety and fuel efficiency. Check a car model's reliability on Consumer ReportsOpens in New Window or EdmundsOpens in New Window. To check a car's safety rating, visit the Insurance Institute for Highway Safety's website. Compare the fuel efficiency of models that interest you at fueleconomy.govOpens in New Window, the U.S. Department of Energy.

When buying from a private party or a used car lot, get a clear title history and insist on a mechanic inspection. Find out who owned it previously and ask for maintenance and repair records.

Carvana gives you instant access to thousands of certified pre-owned vehicles online. Coupled with Lafayette Federal financing, you can purchase your next vehicle from the comfort of your home or on the go via your mobile device. Learn more about Carvana.

Protect your investment with the following coverage options:

GAP Insurance

Guaranteed Asset Protection (GAP) is like an airbag for your vehicle loan. It can help fill the gap between what your vehicle insurance will pay and what you owe on your loan, to cushion you against sudden out-of-pocket expenses if your vehicle is totaled. Learn more about GAP Insurance.Opens in New Window

Mechanical Repair Coverage

Mechanical Repair Coverage allows you to cover your new or eligible used vehicle — even after the manufacturer’s warranty expires. We enhance your vehicle protection program with features such as rental reimbursement, 24-hour emergency roadside assistance, and travel expense reimbursement.

Maximize your savings with a Lafayette Federal Car Loan!

Apply TodayOpens in New Window

*APR = Annual Percentage Rate. Restrictions apply. May not be used in conjunction with other offers or promotions. Stated APR is the lowest rate available for qualified members and reflects 0.25% discount for Direct Deposit and automatic debit of loan payment from Checking Account with Lafayette Federal and 0.125% discount for qualified fuel efficient vehicle. Actual rate may be higher based on income, credit worthiness, and loan to value. **$25‚000 minimum purchase price required for vehicle loan of 73 to 84 months. Add 2.00% to above pricing for all overseas vehicle loans. ***Between 7/1/15 and 9/30/15, the average estimated savings off MSRP presented by TrueCar Certified Dealers to users of TrueCar powered websites, based on users who configured virtual vehicles and who TrueCar identified as purchasing a new vehicle of the same make and model listed on the certificate from a Certified Dealer as of 10/31/2015, was $3,279. Your actual savings may vary based on multiple factors including the vehicle you select, region, dealer, and applicable vehicle specific manufacturer incentives which are subject to change. The Manufacturer's Suggested Retail Price ("MSRP") is determined by the manufacturer, and may not reflect the price at which vehicles are generally sold in the dealer's trade area as not all vehicles are sold at MSRP. Each dealer sets its own pricing. Neither TrueCar nor Carperks brokers, sells or leases motor vehicles.

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Dreaming of a new ride? Let us finance your next new, used, or fuel-efficient vehicle.

Rates as low as 2.375% APR*

Lafayette Federal Credit Union is one of the premiere financial institutions in the Washington, D.C. area, now serving DXC and CSRA employees. Since our founding in 1935, we have sought to provide our members with a safe and convenient place to save, and to offer loans at rates and terms more favorable than those of other financial institutions. We also work hard to provide top-notch customer service. Contact us to obtain a copy of our Annual Report.

Car Buying 101

Leaving car buying stress in the dust with Lafayette Federal!