Auto Shopping and Financing with Centric

May 20, 2021

by Carmen Gonzalez

Shopping for a new vehicle and choosing how to finance it can be a stressful situation. One quick way to make it easier is to do business with someone you know and trust. When you are shopping for a new vehicle, you want to know that you are getting the best deal and the best car for you. In the same way, when you are financing your new vehicle, you want to know that you are getting the best rate for you and working with someone who can help you the most.

Before you start looking for a vehicle, you should talk to a loan officer and get a pre-approval for how you much you qualify for. Taking this step before choosing a vehicle helps in two major ways:
1. It protects your credit from being pulled multiple times at the dealership.
2. It keeps you from falling in love with vehicle that your budget cannot support.

After you get your pre-approval, Centric can help you find the perfect vehicle for you. Centric loan officers can help advise you on what dealerships to check out, and you can use Centric’s online car buying program, AutoLink, to search for a vehicle within your price range all in one easy place. When you find a vehicle you like it, Centric loan officers can help you do your research on the history of value of the vehicle by checking NADA and pulling a CarFax. This helps you know that you are driving a vehicle you can trust.

When you know what you qualify for, you have to make the decision if you want a new vehicle or if a used vehicle is better for you. The biggest deciding factor is what works best for your budget. Finding a used vehicle in good shape can sometimes be better than the newest vehicle because not only is the sale price less, but insurance and maintenance can also be more budget friendly. Another deciding factor between a used or new vehicle is how long you plan on driving the vehicle. If you plan on driving the vehicle for a long time, purchasing a new vehicle is a good option because it will last and will be covered by warranties for longer. If you have a habit of changing vehicles frequently, getting a used vehicle might be a better option for you so you aren’t being left with extra equity in the vehicle that you have to roll into a new loan.

If you are concerned about choosing the right vehicle and financing for you, Centric has Certified Credit Union Financial Counselors that can help advise you on the best vehicle for you and help you choose the financing best for you. Financing with Centric is a great option because through relationship lending you can be a part of customizing your loan terms to best work with your budget. You can choose how frequent your payments are due – monthly, biweekly, weekly, or semi-monthly; and can choose what time of the month works best for your payment due date(s). Choosing your payment date and frequency helps your loan payment fit into your budget. If you are concerned about your loan rate, you can trust that Centric has competitive rates for our area and Centric’s loan officers can work to matching a rate if somewhere else quotes a lower rate.

Beyond the perks of getting to work with a loan officer to customize your loan terms to fit your budget and having access to a Centric Certified Credit Union Financial Counselor that can help advise you on how to reach your financial hopes and dreams, Centric also offers a Guaranteed Asset Protection (GAP) program and extended warranty that can help protect your vehicle. GAP is a great option when purchasing a new vehicle or getting a loan that is more than what your vehicle is worth. GAP will cover the remaining balance of your loan after the insurance pays. With GAP, you get GAP Plus which gives you $1,000 towards the principle of your next vehicle financed at Centric. Another protection program you can get through Centric is extended warranty. This is a good option when you buy a used vehicle or plan on driving your vehicle beyond the original warranty’s guidelines. Centric’s extended warranty had added benefits like key fob replacement and vehicle rental. Another perk of Centric’s extended warranty is it covers after-market vehicle modifications like installing lift kits.

Knowing your options when looking to buy a vehicle helps you feel confident and secure in whatever choice you make. If you are unsure as to what steps to take or where to look, having a trusted source like Centric or a car dealer that you know and trust can help make the vehicle buying process smoother and more enjoyable. Purchasing a vehicle is so much more than just choosing a vehicle. Making sure you are planning for insurance costs and maintenance can be the deciding factor if your budget can afford the vehicle you are getting.