A U T O
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FINANCE YOUR AUTO LOAN AT FCCU.ORG!
AUTO BUYING SPECIAL EDITION
S P E C I A L
E D I T I O N
FALL 2013
Drive For Deals!
B U Y I N G
PRSRT STD U.S. Postage PAID Permit #600 Houston, TX
PO Box 840129 • Houston, Texas 77284-0129
Drive For Deals! If you know the vehicle you want, it’s time to make the deal! Let First Community Credit Union help you drive off the lot with a low rate Auto loan!
The 2014 models are on the showroom floor and we’ll help you hit the road with the vehicle you’ve had your eye on. Or, go for a 2013 model and get a closeout deal!
Drive off the showroom floor with rates as low as: • 1.74% APR* up to 72 months • 90 days no payments* • 100% financing available • Skip-A-Payment up to 2 times per year+ Apply now at FCCU.org, call us at 281.856.5300, or visit one of our convenient locations to drive away with your new vehicle!
*APR = Annual Percentage Rate. Rates and terms subject to change. Certain credit criteria apply for lowest rate quoted, 90 days no payments and Skip-A-Pay. Lowest rate quoted includes all applicable discounts. Payment example: 72 months @ 1.74% APR = monthly payment of $15.75 per $1,000 borrowed. FCCU refinances not eligible. Offer not valid for commercial vehicles, motorcycles or recreational vehicles. +Skip-A-Payment adds $15 to the loan each time a payment is skipped.
ARTICLES inside Holidays
Please make note of our holiday hours. Columbus Day Monday, October 14, 2013 Traditional branches – Closed In store branches – Open from 9am – 5pm Veteran’s Day Monday, November 11, 2013 Traditional branches – Closed In store branches – Open from 9am – 5pm
Car Buying By The Numbers 5 things to do before you go to the Dealership and 6 things to do when you’re at the Dealership. Be sure you do these things to improve your car buying experience.
FCCU: The ONE Stop Resource Shop We have all the resources to ensure you wheel and deal with the best of them while making sure you can afford a new vehicle. These great tools are at FCCU.org.
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WE DO
HOME LOANS
Questions and Answers: The Car Buying Experience As you begin to contemplate buying a new or used vehicle, we understand it can be a confusing process. So, we’re here to answer some big questions. READ MORE | Page 3
281.856.5300 | FCCU.org Making a First-Rate financial difference in our members’ lives!
5 MUST-DO’S
BEFORE THE DEALERSHIP
6 MUST-DO’S
Trade-in Use the FCCU.org AutoSMART value guides to know what your vehicle may be worth at the dealer
Financing FCCU has rates as low as 1.74% APR.* Get pre-approved at FCCU.org first.
Budget Find out what you are comfortable paying with our online calculator
Appointment Review our preferred dealers list and set an appointment with a representative
Test Drive Make sure you test drive the vehicle you are actually going to buy
Options For our members, FCCU offers optional products for a great value
Ask If you are unsure about anything, ask before it becomes an issue
Financing Remind the dealer you are financing through First Community Credit Union
Read Make sure you read before you sign
Q 0% vs. Rebate – which is better? A With 0% you will have to finance a larger amount and
STOP
AT THE DEALERSHIP
Appointment Ask for the dealer representative you made the appointment with at the dealership
Take the time Every minute you take to do your research is less time you will have to spend at the dealership
there are certain restrictions with this rate, such as shorter terms. Taking the rebate brings the price down and you can finance for up to 60 or 72 months. Use our calculator at FCCU.org to see the difference.
At FCCU, we have all the resources to ensure you wheel and deal with the best of them while making sure you can afford a new vehicle. These great tools are at FCCU.org under the Loan tab and then Auto Loans. Calculators | Determine your car loan payment based on your purchase price or find out how much you can buy based on your monthly payment budget. Auto Rebate vs. Low Interest Financing | Use this calculator to help determine if you should take advantage of interest financing or a manufacturer rebate. Auto Exam – Pre-Purchase Inspection Company | Contact Auto Exam to inspect a vehicle before you purchase to protect you from buying a vehicle with: frame, body or interior damage, maintenance, paint, mechanical or electrical issues or any other problems. Contact Auto Exam before you get stuck with a lemon! Click to FCCU.org for more information.
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CLICK FCCU.ORG
AutoSMART | Use this tool to research car values thorough NADA, Kelley Blue Book and Black Book. FCCU’s Auto Buying Service | You know what you want, you want a fair deal, but hate shopping for vehicles. We are a “One-stop” shopping and financing service! We can help find the car and get you a great deal! To level the playing field for auto buyers, we partnered with Levelfield Automotive, a service that finds what you want, inspects it and delivers it to FCCU for you. Most cars are found at auction and take 10-14 days for transport. Funding is handled by FCCU to simplify the entire auto buying process. Let FCCU help make your purchase a breeze. Click FCCU.org now and begin researching so you will be prepared when you go shopping – the dealers will be impressed with how much you know!
Q Should I purchase Payment Protection? A Yes! Payment Protection does just that – it protects you As you begin to contemplate buying a new or used vehicle, we understand it can be a confusing process. So, we’re answering some of the most common questions when it comes to auto buying!
Q Is it necessary to get Pre-Approval before shopping? A It’s not required, but is important! A Pre-Approval
allows you to go shopping knowing exactly what you are approved for and how much your payments will be. Plus, it can speed up the financing part of the deal.
in the event of disability or death. Purchasing both Credit Life and Credit Disability is affordable at FCCU and gives you peace of mind.
Q When I purchased my car I received a higher rate at the dealership. Can I refinance at FCCU? A Yes! FCCU has rates as low as 1.74% APR* up to 72 months! Plus, get up to 90 days no payments. FCCU is very competitive; see how much you can save today at FCCU.org!
Q What percent of income should I budget for a vehicle? A The total loan amount for a vehicle should be in the
50% - 75% range of your gross annual income. Monthly payments generally are in the range of 15% - 20% of your gross monthly income. Of course, this could vary depending on credit.
FINANCE YOUR AUTO LOAN AT FCCU.ORG
Q What is GAP? A GAP is Guaranteed Asset Protection. If
you have a substantial loss on your new car but owe more than the car is worth, GAP will pay the difference for you. This is great protection to purchase at FCCU! *APR = Annual Percentage Rate. Certain credit criteria apply. See credit union representative for complete details.
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