Springtime Car Buying Tips

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Now may be the best possible time to purchase a car. There are enough positive variables in play that opportunities for a great deal are plentiful. If you're in the market to buy, consider the following:

Used or New?
When you mix Cash-For-Clunkers, reduced rental car trade-ins, and a recession together you get substantially fewer used car choices. The antidote may be a new car. Inventories are healthy and car manufacturers and dealers are opening up deals and incentives to make buying a new car an exceptional deal. Still want used? Focus your efforts on scouring local classified ad sites and ask your local financial institution if they have any repossessed vehicles for sale.

Lowest Rates In Almost 30 Years.
According to a Federal Reserve Statistical Release on consumer credit, 48 month auto loan rates are the lowest they've been since 1972. The overall average from 1972 to present was 10.23% and when you take out the inflation-ridden 1980's, the average rate settled in at 8.88%. Rates will eventually rebound, so if you are waiting for the lowest rates, then you may not want to wait any longer.

Credit Is Available.
It seems like news outlets continue to report that credit is difficult to get. This may be true at some larger financial institutions who are embroiled in "bail-outs" and government intervention, but Utah First remains ready and able to help you with any type of loan, especially car loans. If you are considering a new or used car purchase, let a Utah First Loan Officer help you get the perfect low rate loan for your situation. Call 800-234-0729 for more information.