Some vehicles require premium fuel, which will cost you more every time you fill up. Be sure to account for ongoing costs of vehicle ownership, like maintenance and gas. Look at your recent bank statements and monthly bills to determine how much you can afford. What’s the best interest rate you can find? Do you have any funds saved up for a down payment? Review Your Budgetīefore you start researching the latest models and test driving vehicles, you first need to determine your budget and how you’ll pay for your new ride. To help you get started, we’ve listed seven tips below on what to do before buying a car. Whether you’re wondering how to decide which car to buy or asking yourself how much you can afford, the number of factors to consider can be overwhelming. The dealer will take care of the rest.If you’re in the market for a new vehicle, you probably have several questions. When you finalize the sale after finding the right car for you, you’ll fill out information on the AutoDraft, including the term of payment. If you haven’t requested either document within 60 days of your loan preapproval, you’ll have to reapply.Ĭlose the deal- Take your AutoDraft or AutoCheck to your local dealership. An AutoCheck, however, is made out to a specific individual seller for the exact amount of purchase. Get the funds- An AutoDraft is a blank check for your preapproved amount, valid at any authorized dealership. That speedy preapproval is then valid for 60 days.įind your ride- Haven’t found your new wheels just yet? For those not working with a dealer or private seller, search the PSECU Member Showroom by CUDL ® AutoSMART for current vehicles listed for sale. Get prequalified- Most qualified applicants get a same-day loan decision, if not within minutes after applying. The auto loan application process can be as quick as 20 minutes. ![]() Kelley Blue Book® is a registered trademark of the Kelley Blue Book Co., Inc.Īpply Online- Gather the info you’ll need for your application - think monthly income statements and current debt payments. Rates, terms, and information are subject to change at any time. Your payment may be different from the examples shown. Monthly payment examples are representative of the maximum term for the corresponding rate per $1,000 borrowed. Monthly payment example: 36 monthly payments of $30.43 per $1,000 borrowed at the 5.99% APR or 72 monthly payments of $16.69 per $1,000 borrowed at the 6.24% APR. PSECU makes all final decisions regarding vehicle value. ![]() The Manufacturer's Suggested Retail Price determines new vehicle values Kelley Blue Book® or other authorized guides determine used vehicle values. Value of the vehicle to be determined prior to final loan amount. PSECU will finance up to 100% of the retail value of the vehicle for refinance of an existing PSECU vehicle loan. ![]() PSECU will finance up to 130% of the retail value of the vehicle for excellent creditworthiness. Your rate will increase if you discontinue Automatic Payment Service. 25% Annual Percentage Rate (APR) reduction for Automatic Payment Service. Rate and loan amount subject to credit approval. ![]() *Rates “as low as” 5.99% APR assumes excellent creditworthiness your rate may differ from the rate(s) shown here.
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