Atlantic Blog

It looks like 2017 may be an excellent year to buy used.  Three years ago automakers went a little heavy with subsidized leases.  Now those leased cars are back on the lots waiting to be sold.  With Atlantic Federal Credit Union offering Auto Loan Rates starting at 1.99%, it is a great time to buy used wheels.

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.

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.

To put yourself in the best position to negotiate, get the financing in order first.  Atlantic Federal Credit Union offers the Blank Check Approval.  Based on your approved loan amount, Atlantic will give you a blank check. Negotiate with the confidence that you have the financing ready and in your wallet.  Get your best deal, write the check and then drive home your new (to you) car.

A couple other things to keep in mind when searching for a used vehicle. 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.  Or, ask Atlantic about our vehicle service protection plan, CU Certification.  This Credit Union Certification plan is far more comprehensive than dealer programs and the servicing on your vehicle can be done by the mechanic of your choice.  You don’t have to take it to the dealer.

And it is always a good idea to have a qualified mechanic inspect the vehicle before you buy.  It may be $40 or $50, but it is worth the investment and prevention of potential auto headaches.

Yes I work at Atlantic.  Yes, I may be biased, but Atlantic Federal Credit Union has amazing rates on Auto Loans and the CU Certification is an incredible protection plan.  The right car for the right price is out there.  And I know our loan staff would love to help.

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