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Red Flag: My Dealer Won’t Accept My Credit Union Draft

Over the years I've had members attempt to purchase vehicles at dealers that would not accept the draft they received from their credit union. If this happens to you, remember that something may not be quite right about the dealership or the vehicle you want to buy. Sometimes dealers won't accept a draft because of the conditions that come with the draft. These conditions protect you, the credit union member. For example, We Florida Financial's drafts are not allowed to be used to purchase vehic...

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Credit Union Auto Loans Are A Better Deal

Did you ever wonder why car dealers want to have you finance at their dealership? It's customary in the industry for lenders to pay dealers a fee for these loans, and in some cases dealers are allowed to mark up the rate (APR) and keep the difference. It's perfectly legal but I bet you didn't know about it. When you come directly to your credit union, you get a great rate and we have rate discounts for many members. We offer rate discounts for members in our Premium and Select relationship level...

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Don’t Roll Over

Especially when it comes to financing your next car, truck or SUV. The roll over I'm talking about happens when your trade-in is not worth as much money as you owe on your loan. Here's why what seems like a quick solution may be the start of your financial downfall. In my years working for and with credit unions, I've seen this situation many times. You're looking for a new vehicle and you choose a sweet ride. The dealership checks out your trade-in and then advises you that your trade-in is wor...

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Helpful Tips For Parents With Teenage Drivers

Parents are both excited and fearful when their teenagers begin the process of learning to drive. Having gone through this already with three children I have come up with some tips that might help: If you are giving a vehicle to a child, teach them on the vehicle they will be driving.Do not give them the car you wanted at their age, get them a safe reliable car they can handle.Pay cash for a used vehicle, or see if you can inherit a vehicle from a family member. Odds are it will be scratched, de...

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Shopping for a Vehicle

So many people think you need months to shop for a vehicle when in reality it only takes one day to buy a vehicle. Plus when you go to a dealer and say you're not looking to buy for a month, they are not going to give you their best deal because they look at you as a shopper. Who wants to give out their best deal just to have you find a similar deal next door? When buying a vehicle, it is a "today" business. So do all your research prior to going to the dealership. Figure out what you need the v...

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Is the Vehicle You’re Buying Flood-Damaged?

When floodwaters recede, they often leave behind damaged cars and that's where trouble can begin for car buyers. After the owners, which are sometimes new car dealerships, settle up with their insurance companies, the flood-damaged cars are refurbished, the title is "washed", and the vehicles is then resold to an unsuspecting buyer in another state unaffected by the disaster. Electrical and mechanical problems often occur long after the seller is gone, leaving the next car owner with an unreliab...

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