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The Three Part Purchase Process
The purchase of a vehicle can include three separate and distinct transactions; financing,
purchase and trade-in. Each individual transaction can yield significant savings.
Transaction - One Financing
Financing can be the most important transaction of the three-part purchase process. First, you need
to determine what you can comfortably afford. If you are financing through the dealership, you may end
up with a larger debt than you can comfortably afford. Financing through the manufacturer usually only
allows for monthly payments. This may not suit your budget or your pay schedule. When you finance
through the ECU, you can setup payments on a weekly, biweekly, semi-monthly or monthly repayment schedule.
This makes it easier to budget and can reduce interest costs.
Preapproval
Before setting out to purchase a vehicle, obtain pre-approval. Prearrangements give you the confidence to bargain, provide the assurance that you qualify for the financing, and give you peace of mind knowing that you can afford the payment.
Competitive Interest Rates
We offer competitive interest rates. Before proceeding with your financing elsewhere, check with us. We offer special interest rates for the purchase of a vehicle.
Payments to suit your budget/pay schedule
As mentioned previously, financing through a dealership may restrict you to monthly payments. This may not suit your budget or pay schedule. We offer weekly, biweekly, semi-monthly or monthly payments.
Flexible terms
Most financing available usually does not provide for repayment for a term greater than five years. We can extend the financing beyond five years if required.
Transaction - Two Purchase
Make sure you do your homework
Know what it is you want to purchase: 2 door, 4 door, 4 or 6 cylinder, automatic or manual transmission and any other options you may want. Knowledge can be your best bargaining tool. Be sure about what you want and how much you want to pay for it.
If you are purchasing a new vehicle, the discount pricing service can save you money, as it compares the Manufacturer's Suggested Retail Pricing to the Invoice Price. This information gives you a real advantage when bargaining.
It is also a good idea to access information through manufacturers' websites before approaching a dealership. The website will give you the Manufacturer's Suggested Retail Pricing of the vehicle you are interested in purchasing plus the cost of all options. Armed with this knowledge you can avoid the pressure of obtaining an option you really don't want or need.
If you are purchasing a used vehicle, we can obtain both the retail and wholesale values of the particular vehicle you are considering. This tool can save you hundreds of dollars as well.
Lastly, remember that if you are uncomfortable or feel you are losing control of the situation when shopping for a vehicle, be prepared to leave. You can always try other dealerships or go back later.
Transaction - Three Trade-in
How do you know that you are getting fair value for your trade-in? We can obtain values for the vehicle that you are trading to ensure that you are getting the best value. This is another area where doing your homework can really pay off!
Evaluation of your trade-in involves a number of factors. Is your vehicle in excellent, above average, average, rough or poor shape? What is the true value based on the condition and mileage of the vehicle? What would your vehicle be selling for on the lot? Utilize this valuable tool to again save hundreds of dollars.
Let the professionals at ECU help guide you through the purchase of your next vehicle with unbiased information and advice.
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519-742-3500 |
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