While the summer months turn hotter, this may just be one of the hottest times of the year for you to roll off the car lot with your new head-turning ride. That’s why at Heritage Valley, we’ve just rolled out our hot new summer auto rates starting as low as 5.75% APR* with longer terms up to 72 months! We’re encouraging our members to take advantage of these rates and learn why summer gives you the advantage on the car lot. What better time for your family to go out and find fun together on road trips, picnics, nature walks, and other exciting escapades that require a reliable car.
“All the new model-year cars used to debut in the fall, making the end of summer a good time to shop for leftovers. These days, however, there is no unified new model-year season. For example, cars from the upcoming model year now debut as early as January of a calendar year. Edmunds analysts say that August and September are when they generally see automakers make the most decided transition to new models. In the past, the summer months tend to correspond with a bump in incentives, particularly low APR financing on outgoing model-year vehicles.” –Edmunds
End Of Model Year Sales
As summer flies by, dealerships are eager to sell off the remaining models from the current year to make room for new inventory arriving in the Fall. This can often translate into better customer bargaining power, with more room for price negotiation.
“The average transaction price in August historically is about 2.4 percent lower than during the rest of the year.” –TrueCar
Holiday Sales Events
Summer is filled with holidays, such as Memorial Day, the Fourth of July, and Labor Day, which are often accompanied by sales events at car dealerships. These holidays are excellent opportunities for buyers to take advantage of special deals that will have you celebrating.
Well-Maintained Trade-Ins
Many owners choose to trade in their current vehicles for newer models coming to market before the end of summer. These trade-ins often come with detailed service records, allowing you to find used cars that have been well-maintained. It’s the perfect opportunity to snag a used car with lower mileage and a documented maintenance history, offering peace of mind when making your purchase. Also, our rates for new and used vehicles are the same. At Heritage Valley, we finance autos that are less than 10 years old, so no need to buy a brand new one.
Lower Demand
During the summer, many people prioritize vacations and other seasonal activities over car shopping, resulting in lower demand for used vehicles. This decrease in demand can work to your advantage as a buyer. With fewer potential buyers in the market, you’ll have more negotiating power and a higher chance of getting a better deal on the vehicle you want.
New Model Releases
If you’re interested in the latest technology and updates, summer is often when manufacturers release new models. Buying a car during this time ensures you get one with the most up-to-date features and designs.
Summer Road Trips And Vacations
Summer is synonymous with road trips and vacations. By purchasing your automobile in the summer, you can take advantage of the season’s exciting plans and create lifelong memories with loved ones.
More Time for Test Drives
The end of summer often means a return to regular routines and schedules. With the kids back in school and the vacation season winding down, you may have more time for your new car search. You can use this time to schedule test drives, thoroughly inspect potential vehicles, and make informed decisions without feeling rushed, ensuring you find the right car for your lifestyle.
Plus, Better Weather For Test Drives
Test driving a car in good weather can make it easier to assess its performance, comfort and suitability for your needs. Summer weather is generally more predictable, making scheduling visits to multiple dealerships easier.
Whether you’re driving cross country or just crossing off your to-do list, combine these advantages with the lending advantages that credit unions are known for including highly competitive auto loan rates as well as fewer requirements, more flexible terms and more personal service.
“The most popular reason to get your car loan from a credit union is so you can pay a lower interest rate than you would through your bank or with the financing you’d get at the dealership. Some credit unions offer rates that are 2 percent lower than some other lenders. This means you could save hundreds of dollars on your vehicle financing.” –Car and Driver Magazine
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Make This Your Hot New Car Summer
Are you looking for an auto loan that is easy and quick to apply for? At Heritage Valley, we pride ourselves in making auto lending effortless while putting you in the driver’s seat with competitive rates and fast, easy online applications. To make the sales process as smooth as possible, get pre-approved for your loan and do your homework online, comparing car models as well as available incentives before you hit the lots.
Ready to apply or get pre-approved? Just go online or stop by one of our branch locations. And remember, our pre-approvals are good for 30 days. When you walk in the dealership armed with a pre-approval, you have the upper hand because you can shop just like a cash buyer. You’ll have more power to negotiate because you’ll know your absolute maximum price and you’ll be able to negotiate price and not payments. That can save you some serious money.
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Have questions? Meet with one of our friendly local loan officers. We can help you determine what you can can afford or get approved for.
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Buying a car is not a spur-of-the-moment decision. Next to a home, an automobile can be the largest purchase many of us make. Whether you are buying new, refinancing or making your first car purchase, rest assured that we are ready to help you confidently navigate the car-buying and financing process. Let us help you discover why so many of our members choose to purchase during the sunny summer days!
