Auto dealers are expected to sell cars that meet certain consumer protection criteria. This may include providing a warranty that will cover the buyer’s costs if a car turns out to be a lemon. Unfortunately, some unethical dealers may attempt to bypass these laws by curbstoning. Curbstoning is when a dealer poses as a private seller to sell a car. By curbstoning, an unethical dealer can avoid having to comply with the regulations that apply to dealers. To a buyer, this could mean buying a car that has a salvaged title (a car that’s been declared a total loss by an insurance company). It could also mean unknowingly buying a car that has been in a flood and suffered severe water damage.
When looking for a new car, you have three main options: buy used, buy new, or lease.
Loans help finance some of our biggest goals in life. They can provide access to possibilities that we can’t afford upfront—possibilities like going to school, buying a home or starting a business (to name just a few).
Are you looking at purchasing a new or used vehicle? Here are three reasons why a credit union is the best choice for your next loan:
Navigating a new auto loan can be confusing, let alone considering options to refinance. Do you have questions about refinancing an auto loan? We want to help! Our Consumer Relationship Manager, Josh MacDonald, breaks down common FAQs on refinancing: