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carYour car has served you well over the years, but it may be time to start thinking about a new one. Consider these tips to help you get the best deal.

Contact MidSouth Community Federal Credit Union for your car loan needs! We look forward to hearing from you.

Time the Market

Dealerships receive new inventory in fall and early winter and need to make room on the lot. This means you can get a great price on last year’s model. We also recommend timing your visit during the end of each month, as sales staff are pressured to meet quota.

Do Your Research

Shopping at the right time can boost your chances of getting a great deal. But if you haven’t researched the vehicle, you could miss out on potential savings. Take advantage of online tools to compare makes, models, prices, and options.

If you’re shopping used cars, you should check the vehicles’ history for accidents, accurate mileage, and the previous number of owners. Credible dealerships will provide a vehicle history report without thinking twice, and if dealing with a private seller, car history reports are available through many online services.

Lock in a Low Rate

Stop by the credit union and get preapproved for the loan. This way, you’ll know how much to spend on a vehicle and what your monthly payment and interest rate will be. This gives you purchasing and negotiating power. If you don’t go the preapproval route, our Indirect Lending auto program allows you to obtain a MidSouth Community auto loan directly at participating dealerships. Learn who our participating auto dealership are.

Don’t forget we refinance loans, too! Apply for a loan online, or contact one of our Lending Specialists directly at 478.475.7819 to see how switching to a loan at MidSouth Community can save you money!