Looking to finance a new car for yourself? Or maybe you need to upgrade your hearse or limo for business purposes?

Be sure to check out these helpful tips and tricks provided by our friends at CUNA!

Buy Off-Season

Peak demand for cars is in the spring and fall, but if you want to find a bargain, shop for a car in December and January when the prices are lowered (now’s the time!).

That’s when dealerships are eager to move the inventory off their lots to make room for newer models.

Know the Real Price

Use websites like Edmunds.com, Kbb.com (Kelley Blue Book), and carsdirect.com to find the actual value of particular make and model.

If you’re looking at new cars, find the invoice price (what the dealer paid for the car) and the manufacturer’s suggested retail price. If you’re looking at used cars, find the wholesale price and the dealer’s asking price.

Also look for current rebates. Knowing this information will help you during your negotiations with dealers.

Comparison Shop Handing keys to car over to auto buyer

Use online resources like TrueCar.com and Cars.com to compare the prices at dealerships in your area. This will save you time and gas money.

Go Hybrid

Zero Emission Vehicle (ZEV) states have the best prices for hybrids.

If you live in a state with strict emissions regulations, like New York, New Jersey, Massachusetts or Connecticut, you can probably get a good deal on hybrids and battery-electric cars.

Manufacturers must sell a certain number of zero-emission cars each year in order to continue selling in those states, so invoice prices will be lower there.

Look for Discounts

Check the automakers websites under their “current offers” webpages. Many offer discounts to students, military servicemembers, and members of credit unions.

Deduct these discounts after you negotiate the price with the dealer.

Avoid Dealer Financing

Since dealers get a commission or flat fee for every loan they coordinate, he or she will probably try to get you to finance through the dealership.

There are better options.

You’ll get a much better loan rate through Directors Choice Credit Union – typically a few percentage points lower than the average.

Cash Rebate vs. 0% Financing

Some dealerships lure customers by offering a cash rebate or zero percent financing. Typically, only 10% of car buyers qualify for these incentives, and you may find you don’t qualify.

Even if you do qualify for their incentives, you’ll likely save more money per month by taking the cash rebate and getting your loan through Directors Choice.

Click HERE to try out our financial calculator!


We’ve done a little research ourselves to help save you a step while showing you just how much you could be saving if you financed an auto loan through Directors Choice:

2017 Dodge Caravan SXT 

  Dealer 0% Financing - No Rebate DCCU 2.74% APR Financing with Rebate
MSRP   $31,395.00 $31,395.00
Rebate  No $3,000
Interest Rate  0% APR 2.74% APR
Term (Months)  60 60
Monthly Payment  $523.25 $506.97
Total Payments  $31,395.00 $30,418.20 

Total Savings by Financing with DCCU: $978.60!

©2017 Credit Union National Association Inc.