September 2017 - Mercer Savings Bank

Picking out the right car can be tricky business. Sure, that new Ferrari 488 may look great, but is it the wisest choice for a father of 4? There are many things to consider when choosing the right vehicle for you. Hopefully, the following tips can point you in the right direction.Understand Your NeedsTo pick the right vehicle, you should be asking yourself: What are my current needs? Here are a few questions to ponder:How many will need to sit in your car at one time? Will you need a child seat to fit?Will you be driving it year-round, including in ice and snow? Or will it only be used in the warm, summer months? Do you need front-wheel drive, all-wheel drive or rear-wheel drive?Will you be keeping the vehicle in a garage or will you be using street parking?Where will you be driving more frequently? Highway, city, country, off-road?How important is fuel economy?Will you need a large trunk/truck bed for moving items frequently?How much are you willing to spend?Do you plan to tow another vehicle?Do you want a new vehicle or one that’s new to you?Answering these questions may help you decide if you should be looking for a car, truck, sports car, or van. Whatever you choose, make sure it checks all the right boxes when it comes to your daily needs.Know The Types of Vehicles AvailableKnowing the advantages and disadvantages of different types of vehicles is important. Here are some common types of vehicles:Coupe/ConvertibleSedanHatchbackStation WagonSUV/CrossoverTruckMinivanVanHave The Right Budget in MindAfter you’ve decided on the type of vehicle you need, you will need to decide if you will be buying something new or used. This question mostly comes down to budget. How much can you spend on your current income? Remember: The general rule is to not spend more than 20% of your average take-home pay. This will give you a better idea for your monthly payments going forward.Still Undecided?If you still can’t decide on the best vehicle for you, the next best thing would be to plan a day to take a few test drives to see which vehicle best fits your needs and driving style. This can be done at most dealerships (some even include a discount when you test drive before you buy). You may want to contact your local dealer first, however, as some require you to schedule the test drive, especially on the pricier merchandise.Make The Right ChoiceNo matter what car you choose, Mercer Savings Bank has the loan you need. We offer competitive rates and personalized service. We have a fast loan process and easy payment methods. Talk to one of our experienced loan officers today. Call 877.672.4543, contact us online, or visit the auto loan page of our website to learn more.

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How to Find the Right Vehicle for You

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