Drive Away With Confidence Using These Essential Car-Buying Tips | Guiding You Forward
Quick Summary
Buying a car is a big investment, and protecting it matters just as much as getting a good deal. Jeannine Lynch, vice president of indirect consumer lending at Mountain America Credit Union, shares expert insights on safeguarding your purchase, finding hidden savings and staying safe when buying from a private seller. Whether you're a first-time buyer or a seasoned pro, these practical tips will help you make smarter decisions.
Jeannine Lynch, vice president of indirect consumer lending, pulls into the Mountain America Credit Union Guiding You Forward podcast studio with a mission—to help you navigate the car-buying journey without hitting any financial speed bumps along the way. She’s breaking down everything from protecting your purchase to smart strategies for saving money, whether you’re shopping at a dealership or going the private seller route.
In this episode, you’ll discover:
- How to protect your vehicle investment.
- Unexpected ways to save on your next vehicle purchase.
- Safe strategies for private seller transactions.
Few things get Jeannine more excited in the auto loan world than guaranteed asset protection (GAP) and warranties. Why? She’s just so passionate about guarding your investment. GAP is one of those products that consumers may get confused about. It’s simple really—vehicles can depreciate quickly and, in the case of damage or theft, this product helps you cover the difference between the value and what you owe. “Imagine driving off the lot and [your car] gets totaled,” she says. “I’ve never, in my whole career, bought a car without GAP and warranty.” GAP protection pays for itself the moment you need it. Watch the full video to hear Jeannine’s recommendations on how to protect your vehicle purchase from day one.
Money-saving tips are always a welcome discussion with large purchases like a vehicle. Jeannine discusses familiar options like using cash, a larger down payment and a trade-in. Then she pulls out a suggestion we just didn’t see coming. You’ll have to watch the video to find out what it is, but let’s just say your dad would be so happy to know you were listening! “It’s thinking about all the extras around [your vehicle purchase] to save the money you can,” she explains, “so you don’t have any buyer’s remorse or surprises.” Plus, if you’re a Mountain America member and you have a MyStyle® Checking account, you could be eligible for a discount on your auto loan rate. If you’re looking for a great deal on a vehicle, visit one of these trusted dealers that have an established relationship with Mountain America—AutoSavvy, NexGen, Prestman Auto, Rands and Murdock. Jeannine recently did, and she couldn’t be happier! Watch the video for her full story.
Many car buyers choose to buy from a private seller—which comes with its own pluses and minuses. Bottom line: If you’re going that route, do everything you can to keep your money and yourself safe. That requires taking time to do your research. “Be your own investigator and follow our used car checklist,” Jeannine suggests. “Consider viewing and test-driving a car you’re interested in [by meeting] at a Mountain America branch. It’s a safe place, and it’s public.” Plus, if you decide to buy, you can walk right in and finalize the transaction!
Ready to make your next vehicle purchase with confidence? Mountain America is here to help you every step of the way—from preapproval to finalizing your loan. Check out the full episode.
