• Do Your Homework
  
• Check Buyer's Guides
  
• Inspection
  
• Consider Financing

Shopping for a used car today is a much different experience than it used to be. According to the National Automobile Dealers Association used cars are no longer an afterthought; in fact, the market for used cars is steadily growing.

With today's new cars often selling for twice the cost of a used car, dealers are recognizing that the used car market may better accommodate many family budgets. This is good news for car shoppers. As dealers pay greater attention to the used car business, you can now look forward to improved warranties, some of the same no-dicker pricing found in some new car showrooms and even no-questions-asked return policies.

And as a conscientious shopper, whether you shop for a used car from a private individual or a dealer's showroom, you can pick up a good value.

Do your homework

First of all, take your time. Experts confirm that a satisfied purchase almost always reflects a careful, informed approach. If there are regrets, they most often accompany the hasty car purchase.

Before you begin wheeling and dealing, arm yourself with information that compares performance and safety of different cars and tells you which cars most often need repairs. You may want to read the automotive reviews in publications such as Consumer Reports. Once you've narrowed down your choices, visit or call your Credit Union to learn the NADA Official Used Car price range for the car or cars in which you have an interest. Finally, it's a good idea to seek the opinion of friends who have already had experiences with a particular make and model of car.

Check those "Buyers Guide" stickers

Once you're on the lot, check the sticker on the car window for the exact terms of the warranty being offered by the dealer. "Implied Warranties Only" means the car is covered by the state implied warranty. If the sticker says "AS IS," any future repairs will be your responsibility.

Give it a thorough inspection

Now it's time to get critical. While looking the car over, ask yourself:

• What is the general appearance of the car? Is it clean throughout, including the engine? A well maintained car will be reflected in care taking in all respects, from bumper to bumper.
• Does that paint job appear too new for the age of the car? Is there overspray on the rubber trim or lumps on the body of the car? These things may tip you off to an accident.
• Do any of the tires show signs of excessive wear? Mismatched tires can indicate alignment problems, or replacement following an accident.
• Compare the odometer reading with the mileage lubrication stickers (usually found on the underside of the hood or on the inside door panel). Be sure to ask when the car was last serviced.

Put yourself in the driver's seat

Before you buy a used car, take it for a test drive. Remember, you are going to be in the driver's seat, not the salesperson. Be sure to take the car through a variety of road conditions, from stop and go traffic to freeway driving. Make note of how smoothly the engine runs and how quickly the car accelerates. Check out the steering. Does the car maneuver easily? Review the control panel for proper operation of the radio, heater and air conditioning. Simple features like these are important to the total performance of your vehicle. Evaluate the overall comfort and practicality of the vehicle.

Take the car to a trusted mechanic

Ask a trusted mechanic to give the car a check-up. Generally, if the car is unsafe without repairs the seller would pay for them. A "check-up" like this is cheap insurance. If the dealer, or a private seller, won't let you get the car inspected, let that be a warning and walk away.

Consider financing options

Just as it pays to shop slowly and wisely before making your vehicle choice, it is also worthwhile to compare lenders. Be sure to consider a lender that charges no higher interest rate for a used car loan than a new car loan. Your Credit Union, for example, will offer you this kind of fair pricing. When considering your financing options you will want to compare current rates, down payment requirements, pay back terms, application fees, and monthly payments. And it's always a good idea to strengthen your bargaining position by having your financing pre-approved. This assures that you can negotiate "same as cash" when you are ready to make the deal.

By following these basic tips on what to look for in a used car, you'll likely get a "peach of a deal," not a lemon. And by visiting your Credit Union for pre-approval to boost your negotiating position, you'll find financing your used car can be very affordable.

We understand how important a car purchase transaction is to you. If you have any questions, call Loan Line at (407) 277-5045 or toll-free at (800) 443-6887 to speak with any of our loan professionals.

Shop your Credit Union before deciding on car financing

• Low interest rates for new or used cars.
• Fixed member rates that usually are below those available at other lending institutions.
• Loans usually can be approved in less than 24 hours.
• Up to 100% financing for qualified members.
• Payment plans that are affordable. Our loan officers will work with you to develop a payment plan that fits your budget.
• Payment options that include payroll deduction or automatic transfers from your savings or checking account.
• Simple interest calculated on the outstanding balance only.
• No application fee or prepayment fee.
• Apply online or by phone. Call Loan Line at (407) 277-5045 or toll-free at (800) 443-6887.