Current trends in purchasing a vehicle

Current trends in purchasing a vehicle

When it comes to purchasing a vehicle, there are a lot of choices these days. So when you’re in the market for some new wheels, you have to do your homework and research.

Obviously, safety should always come first. Then you have to think about what type of vehicle will best suit your needs. You’ll want to keep your lifestyle in mind. Are you outdoorsy? Will you need something that you can take off-roading? Or something you can easily attach a bicycle or a kayak to? Or perhaps something big enough to pull a boat or a camper? Do you take a lot of trips? Or do you just need something dependable to get you to and from work and for running errands on the weekends? You’ll want to consider all your options. Will you buy new or used? Do you want to go to a dealership, online, or purchase from an individual? Do you want a sedan, SUV, crossover, or truck? What make, model, and color do you prefer? With the volatile gas prices, you may want to consider the gas mileage a vehicle gets? Is it economical? Are you looking for something environmental friendly, such as a hybrid? Do you have a trade in or are you putting down a down payment? How much can you afford to spend on a vehicle and at what rate are you willing to pay? Are you prequalified? You may have more bargaining power if you are prequalified. And pretty soon, we may have to add deciding it we want a self-driving vehicle or not. It’s mind boggling!

According to Reuters, the best-selling vehicles in the U.S. for the first half of 2018 include:

Ford F Series Pickup

Ram Pickup

Toyota RAV4

Nissan Rogue

Honda CR-V

Honda Civic

Ford Escape

Toyota Camry

Toyota Corolla

Nissan Altima

Consequently, Consumer Reports reported in a video on social media that the top vehicles buyers are least satisfied with in an annual Owner Satisfaction Survey includes:

Mercedes Benz GLA Class

Nissan Sentra

Acura ILX

Chevrolet Trax

Dodge Journey

One thing that could impact your car deal is timing. Kelly Blue Book indicates some of the best times to buy a vehicle include:

End of year sales events

End of month

Model changeovers – new models usually arrive in September/October

Holiday sales events

Shopping for and buying vehicles online is gaining traction and becoming more mainstream. Kelly Blue Book suggests shopping online but test driving and closing in person. Our affiliates, Carvana and Enterprise, give new owners a generous window to drive their new vehicle and if the buyer isn’t completely satisfied, they can return the vehicle. In addition to Consumer Reports and Kelly Blue Book, Edmunds and J D Power are also helpful when conducting research for car buying.

No matter what vehicle you choose or when you decide to purchase, CDC Federal Credit Union is here to help make financing your vehicle easier. Visit us online for current rates and to apply online.

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