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Buying a Vehicle

How to get the best auto loan rates and more

Car Buying Basics

Car or truck, used or new – buying a vehicle can be overwhelming no matter which way you go. To simplify the process, ask yourself these questions first: What are your must-haves? What can you afford? What’s the market value of the vehicle you want? The actual cost of ownership? Your auto finance strategy? Before you kick the tires, do your homework. Ready to start? Drive on.

Car Buying Basics FAQs

Buying used versus new will save you money all around – on the vehicle price, insurance, registration, taxes, depreciation and even repairs. What’s a reliable guide for your research? Try Kelley Blue Book’s Five-Year Cost to Own or Consumer Reports’ Cost of Vehicle Ownership. First, decide how you’ll pay – cash, loan or lease. In most cases, an auto loan is your best option, but do some car loan financing research first. When you know what you can afford and how you’ll pay, you negotiate better. Use our buy vs. lease calculator to determine your payments. If you have a good credit score, apply for pre-approval. Rates and loan terms vary. Choose the best rate and term for your budget. The 20/4/10 rule is a guideline for buying a car that recommends making a 20% down payment on a four-year loan and committing no more than 10% of your monthly take-home on operating expenses. The 15 rule suggests you spend no more than 15% on total auto expenses. First and foremost, keep your vehicle well maintained. Limit heat and a/c use. And watch your speed. Driving over 60 mph can reduce gas mileage by up to 20%.

Let’s get you started.

Find an auto loan that puts you in the driver’s seat.

AFFORDABLE AUTO LOAN RATES

Lock in a rate and terms you can feel good about.

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QUICK PRE-APPROVAL

Arrive at the dealership pre-qualified and ready to negotiate.

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RATE SAVINGS

Refinance your current auto loan to lower your rate.

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