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:
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.
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.
One major consideration in the process is getting the right financing. Lafayette Federal rates are very competitive with great terms.
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.
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 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.
We offer sound savings solutions with our NEW nationwide-leading, top-tier deposit rates!
Kick-start your summer savings
Enjoy our 2.02% APY³ Checking — a premium rate over 65 times higher than the national average¹
Simple terms, outstanding rate
Our members have access to Co-Op Network Shared Branches & ATMs for all basic transaction needs.
Access branches and ATMs nationwide