Buying Your First Car



There are few things more nerve-racking and exciting than buying a car. And today, there are more things to consider than ever before.

How can I get the lowest monthly payment?

Let's face it, gone are the days of paying cash for cars. Most of us finance the purchase and we want the payments as low as possible.

Use the Your Choice Vehicle Loan Value Package and you can build your loan at a payment you can afford. Finance up to 84 months for new vehicles; up to 72 months for used vehicles. You don't even have to make your first payment until 90 days after you get the loan. You can also skip one car loan payment each year (if your loan is up to date). For your convenience, you can have your payments automatically deducted from your checking account. No more missed payments!

How can I make sure I'm getting the best rate?

Our loan rates are among the lowest among other credit unions. Check out our vehicle loan rates for yourself. And while most lenders finance up to only 100% of the purchase price, we finance up to 125% including tax, title and warranty products.

We understand you want quick approval. Whether you apply in person, on the phone or online - speed is the name of our delivery package.

Even if you already have an auto loan with another lender, you can refinance with FedChoice and receive money back!

Should I buy a new or used vehicle?

Your answer is based on two things:

  1. How much can you afford? The ticket price on a used vehicle is always less than a comparable new vehicle. However, maintenance on a used car is usually more expensive.
  2. How long do you plan to keep the vehicle? If you don't plan to keep your vehicle for more than 3 or 4 years, a used vehicle should be fine. If you plan to keep your vehicle more than 4 years, consider a new vehicle because it will probably last longer.

For more information go to or

What's the best way to begin shopping?

One of the best places to get started is with our Car Buying Service. View thousands of new and pre-owned vehicles from wherever you are and have your financing pre-approved before you even set foot into a dealership.

If I plan to buy a used vehicle, how do I know if it has been in an accident?

The best thing to do is to get a history report on the vehicle you’re interested in from CARFAX. The report will tell you if the vehicle has been in an accident or was involved in a flood and will verify the mileage. Best of all, it's FREE for members who finance their vehicle with FedChoice.

Should I lease?

There are usually only three reasons to lease.

  1. You trade-in your vehicle every 2 or 3 years.
  2. You drive less than the allowable limit (usually about 12,000 miles/year depending on the lease terms).
  3. You keep your vehicle in very good condition since you may have to pay a penalty for any scratches, dents or damages when you return the vehicle.

For more about leasing go to

Should I get an extended warranty?

Many FedChoice members like the peace of mind knowing that if something were to happen to their vehicle after the manufacturer's warranty expires, they're still covered. That's why we offer members Mechanical Breakdown Protection.

What about vehicle insurance protection?

Many of our members trust Nationwide for their vehicle insurance needs.

What about GAP?

We also offer GAP (Guaranteed Asset Protection) Insurance. GAP covers the difference between the actual value of your car (up to 150% of its value) and your outstanding loan balance. So, if your vehicle is stolen or totaled in an accident and the value of your vehicle is less than the loan balance, you don't owe any more money.

GAP is designed for all drivers, whether you finance a new or used vehicle. Included in the Advantage program is coverage for your deductible -up to $1,000 - as part of your claim settlement. And, the cost of GAP can be financed with your loan. GAP keeps you in the driver's seat!