This monthly column comes from the Arlington Community Federal Credit Union as part of their mission to financially empower the community. Credit unions are not-for-profit member-owned cooperatives and anyone who lives, works, worships, volunteers, goes to school, or does business in Arlington, Falls Church, Alexandria, or Fairfax County is eligible to join ACFCU.*
Consumers are starting to purchase vehicles again and now can be a good time to shop for a car.
Dealers are offering discounts to entice buyers, and financing options from financial institutions are very competitive. If you’re in the position to purchase a car, here are some things to consider:
- Research cars online first: Know what you’re looking for before you go to the dealership. Research quality, safety, features, price and value so you are prepared when you arrive.
- Compare protection plans and service options between the dealer and a financial institution: Financial institutions may offer options like warranties and GAP insurance that are significantly less expensive than coverage offered by dealerships.
- Shop around between dealerships: Compare cars at different dealerships and determine the “drive off price” of the ones you’re most interested in. Drive off price includes the list prices, processing fees, taxes, registration and more. If you have an existing car that you’re trading in, compare what different dealerships will offer.
- Maximize dealership perks: Dealers are trying to entice buyers to purchase right now and may offer the choice between 0% financing or a cash rebate. Compare that to financing offered by your financial institution. If your financial institution can give you a very low loan rate, it may be a better deal to choose the dealer’s rebate and finance with your credit union or bank. ACFCU offers a calculator to help you determine your best option. Some banks and credit unions may “rate match” if another financial institution quotes a lower rate.
- Shop around if you’re considering a lease: Some credit unions or banks may offer lease-like products with more flexibility and features than the dealerships. Compare options to seek out the most competitive payment scenario.
Not everyone is able to make a major purchase right now, but for those that are, this may be a good time to buy a new or “new-to-you” car. For more tips, contact the ACFCU Loan Advisors at 703-526-0200 option 2. Or apply online to get started, and one of our Advisors will reach out to you and help you through the process.
*Membership eligibility requirements apply. Federally insured by NCUA.
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The 44th Leeway Overlee Community Day and Yard
Sale will be along the John Marshall Drive/Ohio Street greenway on
Saturday, June 3 from 9 a.m. until 1 p.m. The community will be out in
force to exchange information and greetings, sell unneeded household
items, and pick up a few bargains.
About 100 families set up tables for the festivities, which take
place along the six-block stretch of the greenway from near Langston
Blvd. to Washington Blvd. Attendance is free, but
a $10 fee will be collected from individuals and families selling
household items during the event. Ensure that all goods and rubbish are
removed from the greenway by 1 p.m. Leave dogs at home.
For more info, call 703-532-6101. If planning to sell, start labeling
your items for sale NOW! Event will take place as long as there is not
active rain. Rain date is June 10.
36TH FESTIVAL ARGENTINO
ARLINGTON JUNE 3RD, 2023
Sat, June 3rd I 3:30 pm / Shows 5:50 pm I Kenmore Auditorium I Glencarlyn
The 36th Festival Argentino USA celebrates Argentine Day and Cultural Freedom. The folkloric group Los 4 de Córdoba and 25 more artists from Argentina, World, and Solidarity Tribute, 200 years of friendship between USA and Argentina!.
Homebuying 101: Steps to Getting Pre-Approved
Are you ready to jump into homeownership or started considering it but don’t know where to start? Financial preparation is key when thinking about purchasing your first home and the first step to getting pre-approved.
Join ACFCU’s mortgage loan officers
4th of July Celebration & Fireworks
Treat yourself this Independence Day with a world-class, private 4th of July extravaganza at the Military Women’s Memorial – a premier National Capital Region site.
Great food, fun, and the best views of Washington DC’s spectacular fireworks display. Relax, enjoy,