Many people would rather bike to work than deal with a car salesman for the purchase of an automobile. It is not easy to determine whether a car is a good deal and negotiating a reasonable price can turn into a debate. Credit unions are aware of this and are now providing information and support designed to make car buying less painful.
Car buying information sessions feature the low-down about purchasing a car. They cover the positive and negative aspects of car buying, leaving no area unaddressed. Freedom Credit Union in Warminster, Pennsylvania, is one credit union that regularly holds car buying seminars. Members come prepared to learn about car values, how to inspect a used car, the back end aspect of the deal, and car financing.
By attending these seminars, car buyers can have their questions answered and they improve their level of confidence. The majority of seminar attendees apply for a car loan with the credit union, said Freedom Credit Union Marketing Coordinator Krista Barry. They approach car dealers feeling more prepared and ready to negotiate a great deal.
Some credit unions have an automotive consultant on staff who follows up with seminar attendees. For members who are too busy to attend a live seminar, some credit unions offer alternative formats. IBM Southeast Employees’ Federal Credit Union in Boca Raton, Florida, provides car buying information through Webinars and podcasts. Some institutions coordinate with a vendor who visits the car dealership with the member.
Credit unions are not known for providing bad credit auto financing. However, some members with less than excellent credit may qualify for a vehicle loan through these institutions. Even those who do not can take advantage of car buying seminars, podcasts, Webinars, ebooks, and other assistance regarding the ins and outs of the car buying process.
