Financing a Vehicle
Tips for Financing Your Next Vehicle
1. Review your credit score
Before you begin car shopping, look over your credit report from one of the three credit bureaus: Experian, Equifax, and TransUnion. You are entitled to receive one free credit report from each of the credit bureaus per year. Make sure that all the information on your credit report is correct. If there are any mistakes, you will want to get them corrected before you start your car shopping process.
2. Get pre-approved
Take the stress out of car shopping when you get pre-approved for your auto loan with Connected Credit Union. Contact our friendly loan team by calling (207) 623-3857 for the Augusta Office and (207) 872-2636 for the Winslow Office.
3. Do your research
Visit the NADA site to determine the value of your trade-in, as well as the value of your next purchase. This easy proactive approach can help to prevent you from paying too much for your next vehicle while ensuring you get a fair price for your trade. When you've found the perfect vehicle you can also use Carfax to learn the vehicle history before making your purchase.
4. Find the best deal
There's more to buying a car than just getting a low interest rate. You need options and we have several, including dealer partnership lending with our local auto dealerships! Find your vehicle at the dealer, be sure and tell them you are a Connected Credit Union member. Our partnership with them provides you with peace of mind, knowing your auto loan is at your local credit union, financed with people you know and trust.
5. Compare Loans
Determining which loan provides you with the best value involves more than simply comparing monthly payments. Use our Loan Comparison Calculator to sort through the monthly payments, fees, and other costs associated with getting a new loan. By comparing these important variables side by side, our calculator can help you pick the loan that works best for you.
Disclaimer: Any reference made in this blog to a specific product, process, or service does not constitute or imply an endorsement by Connected Credit Union of the product, process, or service, or its producer or provider.
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