SeaComm Federal Credit Union OFFICIAL BLOG

The Advantages of Buying a Car in 2022

Purchasing a car in 2022 may not come cheap, but there are several advantages to buying a car now. Here are a few reasons you may consider getting behind the wheel of a new vehicle sooner rather than later. 

Favorable interest rates. Rates are climbing, but they are still relatively modest. If you plan to take out an auto loan to cover the cost of your new car, you may walk away with a low-interest loan.

Updated features. Does your current car have all the bells and whistles you are looking for? As of 2022, some great features for cars include remote control parking, wireless smartphone charging, and 360 degree parking camera. Click here for a list of more must-have car tech features.

Get your wheels while you can. While no one can predict the future, the last couple of years have been especially tough for consumers. Most recently, inflation and supply-chain issues have hit the pockets of the average American in a big way. The car market does seem to be improving, but there is no way to know how the ongoing Russia-Ukraine conflict will affect the supply of new cars over the next few seasons. If you find a car you like, you may just want to grab it while you can. 

If you’re looking to take out an auto loan to cover your car purchase, consider one through SeaComm. The most recent data shows that auto loans at credit unions are a full two points lower, on average, than auto loans through banks. Car prices may be soaring, but credit unions continue to deliver lower rates and quality service you can rely on. Click here for more information or to apply online! 

TIP:  Find the perfect ride with help from our online auto buying center, Garage Gizmo, which allows you to browse through new and used vehicles at local dealerships. Click here to begin your search.  

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