Space Coast Credit Union - www.sccu.com - 321-752-2222
Perspectives June 2012
In addition to the Watchdog articles mentioned, SCCU offers you other ways to avoid "buyer's remorse":
Online calculators:
Use our online auto loan calculators to help you estimate monthly payments for different loan amounts, rates, and terms (number of months you'll have the loan).
Car prices:
Visit the NADA site to research prices for new and used vehicles before you visit the dealer.
Call us first:
Call SCCU before you visit the dealership and talk to an Express Sales Associate about financing. This way, you can go to the dealer knowing what you can comfortably afford.
In last month's column, CEO Doug Samuels talked about SCCU Members' Watchdog and how it related to the 2011 Dealer of the Year selections, and how sharing member experiences at the dealership relates to the Watchdog concept.
Auto sales are now reaching some of the highest levels in many years, but our members want to be confident that they are spending their money wisely when they buy. So, in addition to sharing what our members have to say, we also have information that SCCU employees have prepared to help you make good auto-buying and financing decisions. Buying a car is a big deal and a big investment, and we want to help our members make the best choices possible when spending their money.
There are four Watchdog articles I would like to highlight this month. You can find the complete articles by clicking on the links below or by visiting any SCCU branch lobby.
REFINANCING A VEHICLE:
One of the most popular services offered by Space Coast Credit Union is the refinancing of auto and truck loans from other lenders. You may have considered this yourself, but wondered if it was worth the time and trouble, how much it costs, and what you have to do.
Refinancing a vehicle loan with SCCU is fast and easy. All you have to do is make a short phone call to our Express Sales department. An Associate will ask you a few questions and you'll be off the phone in just a few minutes. We close most refinances in 48 hours or less. We save you time, money; and there are also no "out-of-pocket" expenses for you.
Read this article to learn about buy rates, a standard lender practice that could mean you didn't get the lowest rate possible when you financed elsewhere. SCCU does not participate in this practice.
TIPS FOR BUYING A USED CAR:
Purchasing a pre-owned vehicle can be a smart financial decision. You can avoid the significant depreciation associated with a new vehicle, and you may be able to afford a higher-end model than you would if you were to purchase something brand-new.
The biggest concerns most people have when buying a used vehicle is the thought that they might be "buying someone else's troubles" or that the vehicle will no longer be under warranty. Read this article to learn what steps to take before buying and how SCCU can help you protect your investment.
DOES BUYING BEAT LEASING?
Ultimately, the decision whether to lease or finance is up to you - neither one is absolutely wrong or absolutely right. Just make sure that the immediate lure of a lower monthly payment isn't the only factor in your decision. This article provides some very important points to consider before choosing to lease.
You may find that financing a late-model used car is a smarter way to get a low monthly payment.
HOW TO IMPROVE YOUR CREDIT SCORE:
You don't need a perfect credit score to be approved for an SCCU auto loan at a good rate. But, as we all know, your credit score does affect your rate. Get on the road to a great rate with these simple tips. Even in today's challenging economic climate, you can improve your credit score. Read this article to find out the most important action you can take to protect and even improve your score.
We want to be part of your next car-buying experience, we want you to call us first, and we intend to earn that privilege by keeping our Watchdog promise of no lies, no rip-offs, and no wasted time.
Deborah M. Foley
Vice President, Retail Sales and Service
Read the June issue of Connections
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