Fuel Efficiency
Customarily it is the newer automobiles that are comparatively more fuel efficient than their preceding models. If fuel efficiency is one of your top priorities, it would certainly be worthwhile to look into a newer vehicle. On the other hand, if fuel economy is not as high a priority, an older vehicle that has been well taken care of would be worth consideration.
Depreciation
Another matter to be aware of is depreciation, which is the reduction in the value of a car at the time of sale. Depreciation is not as huge a concern when buying an older car, but the latest models are prone to considerable depreciation within the first year. You may want to contemplate purchasing an older automobile for greater savings.
Checking the VIN
The Verification Identification number (VIN) is a unique combination of letters and numbers that are assigned to every vehicle. Every repair or change that a vehicle encounters is tracked through that VIN number throughout the life of the vehicle. When purchasing a used vehicle, investigation of this information will give a detailed history of how that particular vehicle has been maintained. There are many resources available, especially online, to retrieve the car history results.
Inspection Matters
The inspection criteria are different for new and used cars. The inspection of a new car merely includes a detailed go through of the documentation along with a demonstration by a salesperson about all the specifications of the car. Older vehicles will need a more detailed inspection. Hiring a professional mechanic before the purchase of a used car is always a good idea, because it can be risky to rely solely on the owner’s claims.
One’s Own Satisfaction
Whether you choose to buy a new or used car, self-satisfaction should be one of your foremost considerations. If you feel dissatisfied at any stage of the car buying process, there may be justification to take a step back and re-evaluate your purchase.
I'm Ready
Once you've decided you're ready, your first step should be to get pre-approved.
JHFCU’s Blank Check Auto Loan* is a great alternative to Bank or Dealer financing. The Blank Check Loan gives you 1% cash back** on the amount you finance, provides the option to defer your first payment for up to 90 days**, and means you'll spend less time at the dealership with financing already complete.
Start Your Search
- Visit jhfcu.truecar.com to research vehicles and see what others have paid for them. TrueCar® users save an average of $3,572 off MSRP*** on new cars.
- Select your vehicle and get your Guaranteed Savings Certificate, featuring your personalized price.
- Take your Guaranteed Savings Certificate and your Blank Check to the dealership, or have your vehicle delivered to you. That’s it!
Drive Away Happy!
Applying is easy--most applications are processed in just a few minutes. Apply online or through our convenient mobile app, or call 410-534-4500.