Shopping for a car doesn\u2019t have to be stressful. With the right plan, you can skip the overwhelm and focus on finding the vehicle that truly fits your needs. University Federal Credit Union (UFCU) and ACC\u2019s Student Money Management Office are here to share five key steps \u2014 the D.R.I.V.E. Method \u2014 to help you move through the car-buying process with confidence.<\/p>\n\n\n\n
A Message from University Federal Credit Union<\/em><\/p>\n\n\n\n Ready to find a new car that\u2019s just right for you, but dreading the car-buying process? We\u2019ve all heard stories about haggling with salespeople and spending hours on end at a dealership. But car buying actually can be exciting and fun if you start with a plan.<\/p>\n\n\n\n Whether you\u2019re buying new or used, purchasing or leasing, we\u2019ve got you covered with 5 tips to navigate the car buying process and put you in the driver\u2019s seat with confidence. Meet the D.R.I.V.E. Method \u2014 your secret weapon in moving through the car-buying process like a pro.<\/p>\n\n\n\n With so many possibilities on the road ahead, the best place to get started is by taking inventory and making some important decisions.<\/p>\n\n\n\n First, consider what type of vehicle you need. Is it for daily commuting, family trips, or something else? Someone who uses a car to run errands a few times a week will need something very different than someone who hauls heavy equipment around for a living. If you\u2019re looking at a two-hour commute to and from work every day, you\u2019re going to want a fuel-efficient car. It doesn\u2019t make sense to put a lot of miles on a gas guzzler, no matter how pretty it is. Hybrids and electric vehicles can offer the greatest fuel efficiency, so it may be worth it to look into those options. On the other hand, if you\u2019re on a tight budget and you don\u2019t put a lot of miles on your car, fuel efficiency may not be a huge factor in your decision. An older, less fuel-efficient car can be cheaper and your insurance costs may be lower, which could save you money in the long run.<\/p>\n\n\n\n You\u2019ll also want to think about the physical space you need to drive comfortably. How often will you have passengers? Will they fit comfortably into the back seat? Do you need room for bulky car seats? Will you be transporting camping gear or other large items regularly?<\/p>\n\n\n\n While knowing the main purpose of your new car before buying seems like a no-brainer, it\u2019s easy to be distracted by the newest, shiniest vehicles out there.<\/p>\n\n\n\n Next, determine how much you can afford. Before you tempt yourself with the nicest and newest cars on the lot, carefully consider your finances and decide what you can afford<\/a>. When you think you\u2019re ready to buy, follow these steps to leverage your credit and get the best deal on your new car:<\/p>\n\n\n\n Third, decide whether purchasing or leasing is right for you. Your UFCU car lending specialists can help you weigh the pros and cons of buying versus leasing, considering things like how long you plan to keep the car, how much you will drive it, and how much cash you have for a down payment.<\/p>\n\n\n\n Now is the time to spend the extra time researching and shopping around. Research Edmunds.com and Kelly Bluebook so that you are well-versed in the manufacturer\u2019s suggested retail prices for the cars you are interested in. Looking for a used car? Do your same due diligence. Become familiar with the price ranges for each model by year, mileage, and features.<\/p>\n\n\n\n And consider expanding your search area. You may potentially benefit from looking beyond your neighborhood dealership. If you are willing to leave the Central Texas area and head out to San Antonio, Houston, or Dallas, you might have more luck finding the right car at the right price.<\/p>\n\n\n\n Many manufacturers and dealers entice buyers with incentives, including cash back and deep discounts to move their car inventory. If you\u2019re looking to buy a new car, research dealer incentives and come to the dealerships prepared with competitors\u2019 information.<\/p>\n\n\n\n If you\u2019re planning to finance, know your trade-in value, and determine your \u201cavailable cash\u201d so you\u2019re in the best position to negotiate. Get to know your financing options and how rates affect you. Compare monthly payments to the overall loan cost. You\u2019ll also want to explore insurance coverage and what makes sense for you.<\/p>\n\n\n\n Your game plan includes getting informed on the sales tactics dealerships may use and how to keep a level head throughout the negotiation process. Remember: Everything is negotiable at the dealership (this goes for price, trade-in value, interest rate, add-ons, and fees). When visiting dealerships, come prepared with your research and ask dealers what, if anything, they have added to the manufacturer\u2019s suggested retail price. They may not be willing to negotiate those fees off or down, but at least you know what you are paying for and can make an informed decision about whether to do business with a particular dealership.<\/p>\n\n\n\n Preapproval with a banking institution like UFCU means you\u2019re most likely getting the best interest rate you qualify for. But an electronic Vehicle Buyer\u2019s Check (eVBC) just might be the quickest, easiest way to buy a car from a dealership. It gives you the ability to pay for your vehicle as a \u201ccash buyer\u201d at your convenience. At UFCU, for example, many members know about, or have already taken advantage of, traditional paper Vehicle Buyer\u2019s Checks (VBCs). These convenient checks are issued by UFCU directly to its members, to spend at an auto dealership when they are ready to seal the deal. An eVBC is simply the modernized, electronic version of this process.<\/p>\n\n\n\n Now comes the fun part. Start shopping! Hit the dealerships, knowing your ideal vehicle and game plan, and start test-driving your options. You\u2019ll be able to narrow your list of possibilities pretty quickly by actually sitting in the driver\u2019s seat, testing how it handles on the road, and seeing how the space will work for your needs. Remember, you have power as a buyer. If the price isn\u2019t right, you can negotiate or walk away at any time.<\/p>\n\n\n\n Want to learn more?<\/strong><\/p>\n\n\n\n Connect with ACC\u2019s Student Money Management team<\/a> to access tools designed to support you or to find a schedule of events and workshops that can help you with your personal finance questions.Check out www.ufcu.org\/ACC<\/a> or visit your local branch<\/a> anytime to chat with a Personal Financial Representative. UFCU Highland Branch<\/a> is now open. Eastview Branch coming soon!<\/p>\n","protected":false},"excerpt":{"rendered":" Shopping for a car doesn\u2019t have to be stressful. With the right plan, you can skip the overwhelm and focus on finding the vehicle that truly fits your needs. University Federal Credit Union (UFCU) and ACC\u2019s Student Money Management Office are here to share five key steps \u2014 the D.R.I.V.E. Method \u2014 to help you […]<\/p>\n","protected":false},"author":103,"featured_media":51817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[18],"tags":[1440,1441,322,553,745],"class_list":["post-51816","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-for-you","tag-car-shopping","tag-dealer","tag-student-money-management-office","tag-ufcu","tag-ufcu-tips","et-has-post-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/posts\/51816","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/users\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/comments?post=51816"}],"version-history":[{"count":0,"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/posts\/51816\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/media\/51817"}],"wp:attachment":[{"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/media?parent=51816"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/categories?post=51816"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/students.austincc.edu\/infohub\/wp-json\/wp\/v2\/tags?post=51816"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Decide on Your Path<\/strong><\/h2>\n\n\n\n
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Research Your Options<\/strong><\/h2>\n\n\n\n
Imagine Your Ideal Game Plan<\/strong><\/h2>\n\n\n\n
Get a Vehicle Buyer\u2019s Check<\/strong><\/h2>\n\n\n\n
Execute!<\/strong><\/h2>\n\n\n\n