Why Consider a Used Car?
Ever wonder why the used-car industry is such a big hit? The price tag attached to a used vehicle is usually several thousand dollars less than for new cars. If you buy a new car, it typically depreciates about 20% in value the minute you drive it off the lot. Consider the savings and benefits of buying used wheels.
Start looking for the right used car by doing some research. Check out websites such as Carfax.com, Edmunds.com, and kbb.com. These sites help you find exactly what you are looking for, including safety rating, vehicle condition, and a vehicle history report.
Other Used Car Benefits
When you’re selecting a used vehicle, keep in mind that insurance companies base insurance premiums on your age, year of the car, make, and how likely you are to get in an accident. In general, the cost of insurance on a used car is lower because the comprehensive and collision costs are usually lower.
Many dealerships offer certification programs that can protect you if any mechanical problems arise after you purchase your vehicle. Be sure to read the fine print of the certification to see what it covers.
Buying a certified used car can add on a significant chunk of money to the price tag but can be money well spent. On the other hand, if you plan to buy a noncertified used car, make sure to have a qualified mechanic inspect it first.
Financing Is Part of the Cost
If you need help searching for vehicles locally, one great resource is AutoSmart. AutoSmart is owned by CUDL, the leading provider of indirect lending and point-of-sale services for the credit union industry and creator of the Credit Union Direct Lending (CUDL) program. As a credit union-owned service organization, they develop custom applications, training and marketing programs to help participating credit unions serve their members’ auto buying needs.
A wealth of resources are available to help users find used cars through the AutoSmart website, including:
Get pre-approved in one of our branches, and the CUDL affiliated dealer can access the pre-approval electronically, and save you time, too.