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Boost Your Car Buying Experience with these 5 Tips

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Boost Your Car Buying Experience with these 5 Tips


Purchasing a vehicle can be overwhelming and stressful, but financing does not have to be. At American 1 Credit Union, we want to empower you to reach car-buying freedom. Here are five tips to help you find an auto loan that works for you.

Apply for Pre-Approval: Searching for a new vehicle comes with a variety of choices, but knowing how much you can spend helps narrow down your options. Visit your local financial institution to apply for pre-approval so you can shop for options within your budget.

Know your Credit Report: Many financial institutions will work hard to approve you, but you should know what is on your credit report. Lenders look for a low credit utilization rate, a streak of on-time payments, credit length, and job history. Ensure you have all the requirements before applying for an auto loan for the best approval odds.

Do not Assume you have to Finance with the Dealer: Often, as you shop for a vehicle, the dealers want you to finance your purchase with them. You do not need to go through the dealership to secure your auto loan until you have shopped around at your local financial institutions to find the loan that fits your needs.

Find a Financial Institution you can Trust: A Credit Union can be a great partner to help you focus on your financial goals and help you determine the services you need when you need them. Learn more about how American 1 Credit Union can help you purchase the vehicle you want without the traditional auto loan barriers.

Read the Fine Print: When shopping around for an auto loan you may find stipulations that can keep you from buying the vehicle you want at the loan rate you deserve. Financial institutions often advertise their rates “as low as,” but with language that requires a certain model year of vehicle, loan term, value of vehicle, etc. Find a local financial partner that empowers you to purchase the car you want without the additional rate penalties or barriers.

About American 1 Credit Union:

For more than 70 years, American 1 has been committed to creating financial wellness in the communities we serve through personal everyday banking. Plus, we have various remote banking options available 24 hours a day, seven days a week, including:

  • Online Banking. View your account balances, transfer money, make loan payments, pay bills, view e-statements, check copies, and more. To learn more, visit our Online Banking page.
  • Mobile App. View your account balances, transfer money, deposit checks, pay bills, make loan payments, set travel dates on your cards, freeze lost or stolen cards, and more – wherever you are, and all from the touch of a button.
  • A1 Access. Make balance inquiries, view transaction history, transfer funds, check information, and make loan payments from American 1 accounts.

American 1 has 16 branch locations, over 50 ATMs, and a 24/7 contact center. And while other financial institutions close early, American 1 is open until 7 pm in some locations throughout the week, opens earlier on Fridays, and has extended hours on Saturdays—all for your convenience. You’re busy, and American 1 is available whenever you need your financial institution with our online options.

With over 63,000 members, American 1 has remained true to its objective since 1950 and continues to create financial wellness in the communities it serves through personal, everyday banking, and was recently recognized as one of Michigan’s Best Credit Unions by Forbes. Become a member of American 1 Credit Union today!

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