Car buying checklist

Investing in a car can be exciting but can also come with unexpected costs. It’s important you feel informed and confident before buying, and the list below is designed to help you do just that.

To better understand the full cost of ownership, ensure you:

  • Estimate your monthly loan payment.
  • Get an insurance quote before you buy (premiums may be higher for newer vehicles).
  • Include registration fees and taxes in your budget.
  • Consider routine maintenance and repair costs.
  • Check the vehicle’s fuel efficiency and expected gas expenses.

When reviewing your financing options, you should:

  • Know your interest rate, loan term, and total repayment amount.
  • Consider making a down payment to reduce your monthly cost.
  • Get pre-approved to shop with clarity and confidence.
  • Ask about optional protections like Guaranteed Asset Protection and Credit Life and Disability Insurance.
  • Explore the TFCU repossessed vehicle inventory for lower priced vehicles and potentially lower loan rates. This option may be helpful for members with challenged credit.

When evaluating a vehicle:

  • Compare new and used options for warranty, reliability and depreciation.
  • Request a vehicle history report and have it inspected if buying used.
  • Ensure the vehicle fits your lifestyle, commute and personal needs.

Plan Ahead and Ask Questions

  • Contact your insurance provider for a quote before you buy.
  • Speak with a loan officer or financial consultant at TFCU if you have questions.
  • Take your time and do not feel pressured to make a quick decision.

TFCU is here to support you in every step of the way. If you would like help reviewing your options or understanding your budget, reach out to a financial consultant with our Member Solutions team by calling 405-319-7991 or email membersolutionsreferrals@tinkerfcu.org.

You deserve to make this decision with clarity and confidence. Let us help you get there.

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