Tuesday, June 06, 2017
Navigating incentives when buying a car
Buying a new vehicle demands decisions at every turn. Choosing the make, model, color and must-have features is just the beginning. You also must navigate which incentive is right for you.
"The car-buying process is less daunting if you do your homework before you shop," says Maria Hall, indirect lending specialist at Dupaco Community Credit Union’s Pennsylvania Avenue branch in Dubuque, Iowa.
“Always do your research, and make sure you go in with some knowledge of what you want, need and are willing to spend,” she says about buying a car. “Speaking with a loan officer and figuring out what you would qualify for and where you would be rate-wise isn’t a bad idea.”
Give yourself the upper hand in negotiations
Give yourself the upper hand on negotiation day by researching available incentives ahead of time. You can compare the latest deals and rebates at Edmunds.com. Here’s a look at how the most popular incentives work when buying a car:
When it comes to extended warranties and protection packages, it’s important to compare offerings at both the dealership and your financial institution, Hall says.
“Make sure you are comparing apples to apples on these products,” she says. “You may find that what the dealer can offer covers more, but be aware of what extra products you really don’t need.”
By Emily Kittle