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Car shopping?

Buy Smart What to Know Before You Go!

The internet has made car buying easier. It’s fast and simple to research and compare prices, gas mileage and more. But once you select the car you want there are still important decisions that help you get the most for your dollar, or can add too much cost to your car.

When you get to the finance manager’s office you still need to know how you want to finance your car and whether you want to buy dealer add-ons. GAP insurance, extended warranties, clear coat and fabric protection, rust-proofing and more add to the cost of your car. Know before you go car shopping what these are, if you want them and, if so, what they should cost. GAP insurance and extended warranties are available from resources outside the dealer.

GAP insurance is available from the dealer or the financial institution where you get your loan. The Partnership FCU offers a low cost GAP insurance as a way to protect our members from a financial loss. If your car is totaled before your loan is paid off GAP insurance makes up the difference between what your insurance pays and the remaining balance due on the loan, which makes it more affordable to replace your auto.

Extended warranties provide some financial protection from unexpected auto repairs but they can be costly. The Partnership FCU also provides extended warranties well below the dealer market price that allow you to use your own mechanic and are transferred should you sell your vehicle. Buyers who have a mechanic they trust can ask if there are some warranties that offer better protection. Plus a mechanic can determine the value of clear coat and rust protection in your climate and road conditions.

Credit Life and Disability will protect your car should you die or become disabled (either temporary or permanent) during the life of the loan. Dealers will offer this insurance and it may be very expensive. The Credit Union provides this insurance for significantly less than the dealership. For very little cost, you can ensure your family’s peace of mind during a tragic time by giving them one less thing to worry about.

It is important to decide in advance what you want and what you don’t want. Don’t be sold based on small per month costs for add-ons, ask what they cost you over the entire life of the loan. And don’t hesitate to ask your The Partnership FCU loan officer to help you make all your car buying decisions in advance.