Your First Set of Wheels: Smart Tips for First-Time Car Buyers

Buying your first car is an exciting milestone, but it can also be a bit overwhelming. With so many options and details to consider, it’s important to arm yourself with the knowledge needed to make the best decision. At Lion’s Share Credit Union, we’re here to guide you through the process, offering advice that ensures you drive away with confidence—and a great deal.

1. Do Your Homework

Before stepping onto a car lot, spend some time researching:

• Budget: Know what you can afford, including monthly payments, insurance, gas, and maintenance.
• Reliability: Check reviews and ratings for the makes and models you’re considering. Websites like Kelley Blue Book and Consumer Reports are great resources.
• Resale Value: Some cars hold their value better than others, which is worth considering if you plan to trade in or sell later.

2. Watch for Red Flags

If you’re buying a used car, take extra precautions:

• Check the History: Use tools like Carfax to review the car’s accident and maintenance history.
• Inspect the Vehicle: Look for rust, leaks, or mismatched paint that might signal prior damage.
• Test Drive: Take the car for a spin to listen for strange noises, feel for smooth handling, and ensure all electronics and features are functioning.
• Licensed Mechanic Check: Before finalizing your purchase, have a licensed mechanic inspect the car to ensure it’s in top operating condition. A professional evaluation can save you from costly surprises down the road

3. Negotiate Like a Pro

Negotiation doesn’t have to be intimidating! Here’s how to get the best deal:

• Start Low: Offer a price lower than what you’re willing to pay, leaving room for negotiation.
• Leverage Knowledge: Reference fair market value data to back up your offer.
• Be Ready to Walk Away: Show the dealer you’re serious about sticking to your budget.

4. Know Your Loan Options

Many dealerships will try to sell you on their financing, but your best bet is often closer to home. Lion’s Share Credit Union offers competitive rates, personalized service, and a First-Time Buyer Loan designed to help you get behind the wheel without unnecessary stress. Make sure you plan ahead. Loan applications take some time to review, approve, and close -that means sign and receive the check or funds. The best idea is the apply for your loan before you go shopping, so you will know the payment amount and how much you can easily borrow. 

5. The Final Checklist

Before you sign on the dotted line:

• Confirm the total price, including all taxes and fees.
• Double-check the interest rate and terms of your loan agreement.

Ready to Hit the Road?

Your dream car is waiting, and Lion’s Share Credit Union is here to help you take the wheel. Our First-Time Buyer Loan offers affordable financing, no hidden fees, and friendly support every step of the way.

Apply online today or visit your local branch to get started! With Lion’s Share in your corner, buying your first car has never been easier—or more rewarding.

Drive your dreams forward with Lion’s Share Credit Union.