vof July 2014 memcu.com Car Shopping? Negotiate Your Best Deal! Update August is typically one of the busiest times of the year for car shopping. Most new models arrive in August and many of the 2014’s are priced to sell to make room for the incoming new inventory. If you in the market for a new or used car here a few negotiating tips to keep in mind. • • • • • Obtain quotes from multiple dealerships by calling or completing a form online. You can also use websites such as edmunds.com or nada.com to get pricing on new or used cars. Don’t get emotional or attached to the new vehicle. A common sales trick is to let you take the car home for the night to see if you like it (which you always do). Negotiations do not have to be confrontational or uncomfortable. Be calm and friendly and negotiations will probably go a lot smoother. If the negotiations aren’t going the way you like due to high pressure sales tactics, don’t be afraid to get up and walk away. Never get pressured into making a deal that you will regret later. Shop during non-busy hours, such as the middle of the week, when the car lot is less crowded and you are competing with fewer customers. The salesperson will have more time to spend with you and both of you will feel less rushed. Always negotiate the purchase price for your new car before discussing monthly payments, the value of your trade-in, or any factory rebates or incentives that may be available. Talking about these items before you nail down the price of your car can just add unnecessary confusion to the negotiating process. You should have a pretty good idea how much you can afford for a car payment before you begin to shop. Your best financing option will nearly always be your credit union and getting pre-approved for your auto loan before you even visit the dealership is always a good idea. If you have questions about how to negotiate a good deal for your next auto or you would like to know the value of the car you are purchasing, please contact your local credit union loan officer. We will be glad to assist you. P u b lished M onthly for Members Cred i t Un i o n Re p s a n d O th e r Ke y S p o n s o r Pe r s o n n e l Visit memc u . c o m to s e e o u r g r e a t r a te s ! Student Loan Referral Program The cost of attending college has skyrocketed over the past decade, making it difficult to save enough to cover all the costs. If you have a child in college and need some assistance with tuition, Members Credit Union can help. In conjunction with Sallie Mae, the largest private student loan lender in the country, Members Credit Union now offers a student loan referral program called the Smart Option Loan. This loan is perfect for families who need additional money to cover the cost of college after exhausting all grants, scholarships, and federal loan opportunities such as Stafford Loans. With the Smart Option Loan there are no loan origination fees, you can earn rewards for paying on time and there is no pre-payment penalty. You also have the option of making small payments on your loan while in school or waiting until after graduation to begin repayment. Students are strongly encouraged to apply with a qualified co-signer to significantly improve the chance of loan approval. For more information or to apply please visit memcu.com/salliemae. Rep Training Available If you are a new sponsor company credit union representative who would like initial training, or you are a long time representative who would like a refresher course on credit union policies and procedures, please contact Donna Henry to schedule a training session. Classes are free and we will accommodate your schedule. You can reach Donna at 800-951-8000, ext. 138, or donnah@memcu.com. News and Notes Members Credit Union • Visit MCUCars.com to view our large selection of previously owned vehicles available for sale. Upon credit approval these cars and trucks may be financed at 1.75% APR for up to 84 months. If you are interested in one of these vehicles please call Jon Hamby at 800-951-8000 ext 123. • Money Market International (MMI) is a free consumer counseling service available through Members Credit Union. MMI offers debt counseling, budgeting, and financial education. Go to memcu.com/ financial-solutions to find out more. • Members Credit Union Carowinds Days are July 5, 6, 12,13, 19, 20, 26, and 27. Tickets for these special days are only $35 and must be purchased online at memcu.com/member-discounts. P. O. Box 5297 Winston-Salem, NC 27113-5297 (336) 748-4800