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Home > Tips for Financing Your Next Vehicle | Connected Credit Union

Financing a Vehicle

7/6/2021

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. Rate vs Rebate

In some cases, the lowest interest rate is not always the best deal. It may be to your advantage to opt for an available rebate and finance with your credit union. Check out this rate vs rebate calculator, you may be surprised with the results!

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