Resources for Auto Shoppers and Buyers

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Buying a car doesn't have to be stressful. The links on this page are a way to provide Provident Credit Union members with educational information and tools to assist in the process of shopping for and buying an automobile. We hope you find value with these handy resources.

Calculators

• Calculate Payment & Purchase Price Input the rate and payment to determine how much you can afford. Or put in the rate and total amount to determine how much it will cost you each month.
• Which is Better, a New or Used Vehicle? The decision to buy a new vehicle instead of a used one requires that you consider the purchase price, depreciation, operating costs, years of ownership, and financing cost. This calculator will help you understand how much each option really costs you.
• How Much Should Depreciation Cost Me? Estimate an annual depreciation expense by applying a depreciation rate (average, high or low) to the new vehicle. Total depreciation can then be calculated based on the number of years you expect to own the vehicle.
• Should I Lease or Purchase a Vehicle? This calculator helps you to decide if leasing is preferable to borrowing to buy a vehicle, by providing you with an average cost per year for each.
• Should I Finance or Pay Cash for a Vehicle? The calculator shows whether it is cheaper to borrow money to buy a vehicle or to pay cash.
• How Much Will My Vehicle Payments Be? Calculate your monthly payment based on purchase price, cash rebate, value of your trade-in, amount owed on your trade-in, down payment, loan term, and interest rate.
• Which Vehicle Loan is Better? This calculator shows which loan saves you more by comparing the loan term and interest rate of each loan. Includes taking into account the interest earned by investing the difference of the monthly payments into a savings account.
• What Term of Vehicle Loan Should I Choose? This calculator shows which loan saves you more by comparing the loan term and interest rate of each loan.
• Should I Use a Home Equity Loan Instead of an Auto Loan? This calculator shows which loan saves you more by comparing the terms of a home equity and auto loan. Takes into account the deductable interest from a HELOC vs. the closing costs, and what the after-tax interest rate is.
• Which is Better, a Rebate or Special Dealer Financing? This calculator shows the cheaper source of borrowing to buy a vehicle: low-interest-rate financing or rebate incentives from the dealer.
• How Long Should I Keep a Vehicle? This calculator calculates the cheaper option: buying a vehicle and owning it for a long period, or selling and buying a new vehicle more often.
• What Vehicle Can I Afford? This calculator calculates the size of vehicle loan you can obtain, based on your down payment, vehicle purchase price, and loan terms.

Learning Library

• Buying a New Car, Part 1: Getting Started What you should know before you visit the dealer's lot.
• Buying a New Car, Part 2: Financing Your New Car Financing obtained by the dealer may not be the best deal you can get. Read this before you start talking price.
• Buying a New Car, Part 3: Trade-ins and Service Contracts Discuss these only after you've negotiated the best possible price for your new car. What you should know ahead of time.
• Understanding Vehicle Financing Includes tips on what an APR is and how it helps you, co-signing, determining how much you can afford, and more.
• Car Ads: Reading Between the Lines Too good to be true? Find out how to tell if an advertised deal actually is a good deal or not.
• Why a Rebate May Be Better Than Dealer Financing Take the rebate instead, and you can get a better deal than zero percent.
• Finding a Used Car to Buy Good tips on deciding which car is right for you, and on narrowing down your choices.
• Evaluating a Used Car's Condition What to look for, once you have a likely prospect. Taking a test drive and avoiding potential problems.
• Quick Tips for Buying a Used Car A short checklist of things you should do when buying a used car.
• Automobile Service Contracts, Part 1: Intro, What's Covered What you should know about automobile service contracts, which are roughly comparable to extended warranties. Includes how they compare to Mechanical Breakdown Insurance (MBI).
• Automobile Service Contracts, Part 2: Things to Beware, Canceling What you should know about automobile service contracts, which are roughly comparable to extended warranties. Includes how they compare to Mechanical Breakdown Insurance (MBI).
• Automobile Service Contracts, Part 3: Reminders, Who to Contact What you should know about automobile service contracts, which are roughly comparable to extended warranties. Includes how they compare to Mechanical Breakdown Insurance (MBI).
• Auto Buying Glossary Definitions of common terms used during the auto shopping and auto financing process.

Other Sites

• Online Auto Shopping Through a partnership with AutoLand, this site helps you search for and price new or used autos, sell or trade in your old car, or arrange for the car of your choice to be delivered to your home or workplace.
• California Department of Motor Vehicles Get extensive information on vehicle registration and title, personalized plates, and driver licenses. Download DMV forms and publications.
• Consumer Reports Online: Cars and Trucks Ratings of all types of cars, SUVs, mini-vans, and pickup trucks; frequency-of-repair records; and advice on buying and leasing. Subscription required for reviews.
• National Highway Traffic Safety Administration Get unbiased reports on auto safety problems & issues, testing results, regulations & standards, and research & development.
• Fuel Economy Guide This Department of Energy and Environmental Protection Agency site lets you compare MPG and pollution ratings of new and used cars and trucks, and has extensive consumer information on saving at the pump, comparing gas prices, hybrids and other advanced technology vehicles, and more.
• Smog Check Information from the State of California Everything you need to know about smogging your car in California, including where to find a Smog Check Station, and answers to questions about smog checks. Presented by the California Department of Consumer Affairs, this site also includes useful consumer information on buying and repairing cars in California.
• eHow: Cars Category Includes how-to's on after-market options and upgrades, buying and selling, driving and safety, finance and insurance, maintenance, other vehicles (boats, RVs, etc.), and repair