It’s likely that new and used car sales this year could exceed the huge numbers from 2013. When analysts see the average age of vehicles on the roads today is 11.3 years, it’s a clear indication that the demand will continue. Older, higher mileage automobiles are expensive to maintain and often when mechanical problems occur, the repair cost can exceed the value of the vehicle.

If you’re in the market for a new or used vehicle, it’s probable that a loan will be necessary. Experian Automotive research found that a record 84.5 percent of consumers who acquired a new vehicle obtained either a loan or lease to fund the purchase. That percentage is up from 82.5 percent in 2012.

Using the Auto Values page on our website will assist you with research on new or used autos. New vehicle prices include the MSRP (manufacturer’s suggested retail price) or, as we call it, the sticker price. The dealer invoice is included as well. When applicable, any rebates or incentives are also available.

Used prices will give you the retail value based on condition and the trade-in value. Remember, these prices are based on averages and your vehicle could be worth more or less.

With a credit union pre-approved loan, you will be investing locally in a business where you’re a part-owner, not from other financial institutions with no interest in the community. The finance manager at the dealership will attempt to convince you to finance your purchase with one of their lenders. Simply say, "NO." Let them know that you are pre-approved with your credit union. The dealer will also offer credit-life, accident and health insurance, extended service contracts, and GAP insurance. Jot down the prices on the products offered and return to the credit union. The savings from the credit union on these products will be enormous.

We look forward to serving your financial needs. Apply online today.