Car Buying? Check Out Auto Rebates and Incentives

Car Buying? Check Out Auto Rebates and Incentives

Buying a car is a big investment, so you’ll want to find one that fits your lifestyle and budget. There are plenty of ways to drive home a bargain, especially with dealer incentives, factory rebates, cash-back offers and special financing. There are even incentives for certified pre-owned vehicles.

Is the Price Right?
By using online resources, it’s easy to compare vehicles, settle on the car you like, add in all the options you want, see what others have paid for it, and find dealerships that will match those prices. Websites such as,, and Kelley Blue Book1 offer up-to-date information so you can find and price your vehicle, and calculate your monthly payments.

Rebates and Incentives
If you’ve selected a model and figured out what you hope to pay, next search for rebates and special incentives. Today’s car sites aggregate all this information for you. Most experts suggest if you plan to purchase a car, negotiate the sales price first, and then discuss the rebate, so you will get a true discount on your vehicle.

Special Financing
If you’re a qualified buyer, you may be able to get special financing terms with no or low-interest rates, but keep your options open. If you are prequalified for an auto loan, you don’t have to rely on a dealer’s financing options if it isn’t competitive enough. You can also take advantage of our Credit Union Direct Lending® (CUDL) program, which lets you apply for Schools Financial, a division of SchoolsFirst Federal Credit Union financing onsite.

Zero percent financing deals can be enticing, but come with certain restrictions. For instance, if the dealer is working with an outside lender to fund loans, the vehicle’s price may actually be higher than other dealerships. You’ll also need an excellent credit score and may be required to pay off the loan in a shorter period of time, which means your monthly payments will be higher.

Leasing Versus Buying
With more incentives crowding the marketplace, car leases are popular again because they usually come with lower down payments and monthly payments. Many financial experts think that leasing can be a financial drain, because after the lease is up, you don’t own the car. However, if you trade in a car every few years, or don’t drive that much, it’s something to consider. But just like buying a new car, it’s all about reading the fine print.
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