Traditionally, automakers come out with their new models right around this time of the year. 

That means you'll be seeing 2025 models on the car lots, and you're already seeing advertisements for the latest and greatest cars, trucks and SUVs.

Buying a car is a major decision and an expensive purchase. If you're in the market for a new ride, here are some ways to save money that can help you down the road.

Save up. If your current vehicle can last a few more months, use that time to save up for a down payment. The bigger your down payment, the lower you can make any monthly loan payments. You can also use the time to try to boost your credit score by fixing errors and getting current on any past-due bills. A higher credit score can mean a better auto loan rate.

Compare prices. As a CommonWealth One member, you have access to a service called TrueCar. This allows you to see what others paid for any new or used vehicle in your local area and receive upfront prices from a network of over 15,000 TrueCar Certified Dealers. Get started at https://cofcu.truecar.com. Remember to leave room in your budget for taxes, title and dealer fees, which are often due up front.

Consider a used car. While a brand new 2025 car might be super exciting, slow your roll! Used cars are less expensive, and you can find an off-lease vehicle that's just two or three years old with low mileage for a great price. Electric vehicles are also available pre-owned, and that can save you a lot of money over a brand new one.

Choose your loan wisely. Just one percentage point on a loan can mean the difference between a good deal and an unaffordable one. Come talk to us at CommonWealth One! Going to a dealer with a pre-approved loan amount at a great, low interest rate can help you avoid paying a higher interest rate with the dealer's loan offer. CommonWealth One offers low rates on new and used cars, repayment terms up to 84 months, a skip-a-payment option twice per year and more.

Shop online first. If you know exactly what you're looking for, shop from the comfort of your home. Our TrueCar service can help with this and you'll be able to avoid the uncomfortable negotiations and pressure tactics that salespeople use sometimes.

Negotiate. You have thousands of options — don't get so hung up on one specific car that you forget to negotiate. If you don't like the deal you're getting or if the salesperson is pressuring you to pay for upgrades you don't need or want, you can absolutely walk away. Don't let the pressure get to you. You may want to bring a friend with you for moral support!

We wish you miles and miles of happiness with your new (or new to you!) vehicle this fall. Shop smart and be sure to swing by a branch in your sweet ride for all of your financial needs. We'll see you soon!

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