Posted by LorMet Webteam on Mon, Aug 30, 2010 @ 08:05 AM
We have advised you that it is to your advantage to get a
loan before buying a car and even told you about the
best time to go shopping for a car, but we know that sometimes life can be unpredictable. While it is best if you can research car values and not to be rushed into making a car-buying decision, things don't always happen that way.
Approved Today! Buy Today!
If you find that you need to purchase a new car in a hurry or that you want to purchase a new car in a hurry,
LorMet is here to help. With
on-site dealership financing, you can be approved for a
car loan on the same day that you buy a car. So whether the car you had planned to hang onto for at least a few more years suddenly died or you just really want some new wheels, LorMet can help you make that happen quickly. No need to rely on friends and relatives for rides or borrow someone's car. No need to spend a lot of money renting a car while you figure out how to get your next vehicle.
New car loans that last for 72 months have rates as low as 3.99%. You can also buy a used car with a loan that also lasts 72 months with a rate as low as 5.50%.
Once you get immediate loan approval to buy a car at these low rates, you will be able to finance or refinance and there is no prepayment penalty. Sometimes you see what you want and you just know right away, no need to mull it over or consult everyone you know...if you see a car that you want to buy, a
LorMet auto loan can help you get that car sooner than you imagined.
Interested? Call 960-6600 today!
Posted by LorMet Webteam on Wed, Aug 25, 2010 @ 09:16 AM
Secure Your Auto Financing With a Vehicle Loan from LorMet
When you decide you want to buy a car that is either new or new to you, sometimes you are doing so when your current vehicle is almost no longer serviceable. This can create pressure to hurry up and make a decision, but we advise you not to buy a car in haste. If you have to make do with alternative transportation arrangements or even rent a car for a bit, this would be better than making payments on and spending years using a vehicle that is less than suitable for you.
While there is a wealth of information to be found online, you want to make certain that you do some offline research too. You can test drive the cars you are considering, and even ask for some preliminary quotes on pricing, but do not feel obligated to buy. While you are still in the exploratory phase, do not let a dealer convince you to sign a contract or give them a deposit. In fact, you can simply tell them that you are still looking and rather than buy on your first trip out to the dealership, you want to be sure you choose the right car for you.
As part of your preparation to buy a car, you can secure your financing with a vehicle loan from LorMet Community Federal Credit Union. The Credit Union offers 100% financing on new vehicles and will loan up to the retail value (as rated by NADA) of a used vehicle.
LorMet Offers "On-Site Auto Financing at Participating Auto Dealerships in Lorain County
LorMet also offers its members "On-Site" auto financing at Lorain County's most respected auto dealerships. Sometimes things just do not go as planned, so if you find a car you really want, you can instantly apply for LorMet Community Federal Credit Union financing at select dealerships.
Posted by LorMet Webteam on Mon, Jul 19, 2010 @ 01:53 PM
With the economy as it is, many people are choosing to hold onto their cars for longer than they may have intended. Others are choosing to buy used cars rather then spend more money on a new one.
Questions While Car Buying
If you are shopping for another vehicle, there are things you can do ahead of time to make the process smoother. One question you need to consider if you already have a vehicle that you do not intend to keep is: Is it better to trade in at the dealer or sell the car yourself? When it comes to convenience, a trade-in is a no-fuss way to get rid of your old car. You can use the profit from a trade-in to offset the costs of the vehicle you want to buy. Trading in your car also can lower the taxes you have to pay on a new vehicle. On the other hand, you will probably make more on the sale if you sell your car elsewhere. The choice is yours and it depends on what you really want out of the deal. The key is that you decide before you go to the dealership to shop for another vehicle.
Another way to save both time and money is to get your financing squared away before you visit a dealer. This way you can focus on negotiating the price and not have to worry about other considerations at the same time. If you are concerned with getting the financing and getting the kind of price you want, you may find yourself frazzled and you do not want that.
LorMet Community Federal Credit Union offers car loans and loans for trucks, boats, motorcycles and recreational vehicles. The Credit Union offers 100% financing on new vehicles and will loan up to the retail value (as rated by NADA) of a used vehicle.
Posted by LorMet Webteam on Tue, Jul 13, 2010 @ 08:54 AM
If your teen has been hinting about getting a car of his/her own, LorMet Community Federal Credit Union offers 100% financing on new vehicles and will loan up to the retail value (as rated by NADA) of a used vehicle.
Lormet Can Help Get That Car
Visit our website to see a list of top performing car dealerships for LorMet members. Shopping for a car can be a good exercise in financial literacy—looking up values and comparing prices can help prepare teens for life as an adult.
Don't Forget Safety When Car Buying
While the decisions over who pays for a new car can be a big deal, an even bigger deal is ensuring that your teen is safe out there on the roads. For the most part, the days when a state department of motor vehicles would just hand a teen an unrestricted license to drive are gone. With very few exceptions, states have instituted graduated driver licensing, so teens get some, but not all the privileges that licensed adult drivers get on the roads.
Many teens balk at the thought of having a license that they see as representative of freedom, be restricted. These regulations were put in place to make certain that teen drivers, their passengers and others who are out of the road can remain safe.
Some graduated licensing statutes include:
- Being 15.5 or 16 to get a learner’s permit
- Having to wait a minimum of 3 months between getting the learner’s permit and applying for an intermediate license
- Needing at least 30 hours of supervised driving practice
- Being at least 16 before getting an intermediate license
- Restrictions on driving at night
- Restrictions on the passengers that teens can carry
- Being at least 17 to get an unrestricted license
Posted by LorMet Webteam on Mon, Apr 05, 2010 @ 09:35 AM
Are You Car Shopping? Apply for Auto Financing from LorMet
If you are thinking about buying car, you will be ahead of the curve if you arrange for financing first and secure a loan before you hit the car lots. And if you are a member of LorMet Community Federal Credit Union, you may shop for a car and instantly apply for financing from LorMet at Lorain County's most respected auto dealerships.
April 12 is the Best Day to Buy a Car, it is the end of Tax Season
Now that you know how you can finance your car purchase, let's talk about when you should go shopping. Those of you who want to buy a car soon would do well to circle April 12 on your calendars. A recent research study concluded that this will be the best day to buy a car this month. Why? Well, it is the Monday before taxes are due. Many people will be worrying over taxes and not in the mood for major purchases, such as cars. Researchers did not mention the Monday blues, but you can probably throw that in the mix as another reason people will not be out shopping for cars that day.
As for the dealers, they will probably be eager to work with you to get you into a vehicle on that day, since as we already noted, it is the very end of tax season. Sometimes it doesn’t matter how much you know or how savvy you are—if you show up at the wrong time, car dealers will not budge.
Interestingly enough, according to these same experts, the worst day to go car shopping next month only falls a week before the best day. And that day is Sunday, April 4th. Experts feel that Easter holiday optimism will be in full swing and people will be out shopping for cars, not long before many are scurrying to get their taxes completed.
Posted by LorMet Webteam on Thu, Mar 25, 2010 @ 01:42 PM
If it is time for you to purchase a new car, you may be stepping into this decision with a lot of questions. You are likely concerned about financing the purchase and with recent recalls; you are probably also very concerned about safety.
We looked at several lists for the Best Cars of 2010 to see which vehicles experts recommended. Here are a few of the cars we saw that received high marks from more than one organization:
Honda Fit
This is a great small car, if you are not in the market for anything large. Experts were impressed with its storage options and it had received high safety ratings.
Ford Fusion Hybrid
According to some, the Ford Fusion is the best mid-size car around when it comes to fuel efficiency. If you are thinking that it is time to switch to a hybrid, this is the one to try.
Honda Odyssey
This car received solid rankings for safety performance and interior. The Odyssey has room for eight--great for a growing family or any family really, since you never know how many friends or groceries you'll need to get into your vehicle.
We can tell you what some experts have found to be the best cars for 2010, but in the end it is really up to you. Think about what is really important for you and your family. We imagine you want a reliable car, but how much do a car look's matter? How long do you intend to keep the car and how do you imagine your life will change in that time? Do your research, go on some test drives and when you are ready to make your purchase, visit the LorMet Community Federal Credit Union on the web to research car values and stop by one of our branches locations to discuss a vehicle loan.
Posted by LorMet Webteam on Fri, Mar 12, 2010 @ 12:49 PM
LorMet Federal Credit Union not only offers you great rates on vehicle loans so that you can purchase the car, truck, boat, motorcycle or RV that you have your eye on, we also make it possible for you to buy GAP insurance in case the unthinkable happens to that vehicle.
What is GAP insurance?
GAP stands for Guaranteed Auto Protection. If your vehicle is totaled in an accident or stolen and not recovered, GAP insurance, in many instances, will cover the difference between your loan payoff and your primary insurance company settlement. It is also possible that with GAP insurance, you can have the loan balance paid in full (including your insurance deductible up to $1,000.)
Why purchase GAP insurance?
GAP insurance is available to you at a minimal cost--what you pay for GAP insurance is little compared to the protection that it provides. GAP insurance can really make a difference if something happens to your vehicle. Anyone who has ever been without a vehicle because it was either totaled or stolen can tell you what an inconvenience it can be. If you are unable to use your vehicle and are still responsible for paying off the loan on that vehicle, this can really alter your lifestyle. You would be without your own transportation and depending on your finances, you may have to wait before purchasing a new vehicle because you will still be responsible for paying off the loan for a vehicle that you cannot use.
We certainly hope that you do not ever need to enact the protection that GAP insurance can provide, but we know that you will feel a lot better having it should you need it. To learn more about GAP insurance, you can contact our Loan Department at 440-960-LOAN (6600) for more information.
Posted by LorMet Webteam on Tue, Feb 09, 2010 @ 10:29 AM
100% Auto Financing on a New Vehicle
You have probably seen articles telling you when it is the best time to buy various big ticket items such as a house or car. The advice is based on looking at inventory, time of year, the probability that a salesperson needs to make a quota and many other criteria.
Well, we are not going to tell you when is the best time to buy a house or a car because we think that the best time to do anything is when you are truly ready to take on the joys and challenges that come with the decision. What we will say is that it is not good to make a major purchase if you are not prepared.
For example, part of being prepared to buy a car means arriving at the dealership knowing that you will be able to make a car purchase, rather than showing up without really being sure of how you will pay for the car.
If you are member of LorMet Community Federal Credit Union, you can take advantage of our great rates to buy a car, truck, boat, motorcycle or recreational Vehicle. (And if you are not yet a member of LorMet, contact us today to join.) We will give you 100% financing on a new vehicle or provide a loan that will cover the retail value of a used vehicle. Check out some of the most favorable car loan rates in Lorain County.
Take Advantage of On-site Auto Financing
LorMet also offers "on-site" auto financing if you choose to buy a vehicle from certain Lorain County car dealerships. You can apply instantly for financing.
(See our website for a list of the auto dealerships where you can take advantage of "on-site" auto financing).
So whether you have your eye on a brand new vehicle or would prefer to buy one that is used, as a LorMet Community Federal Credit Union member, you have viable options to finance your vehicle purchase.
Posted by LorMet Webteam on Wed, Dec 30, 2009 @ 02:57 PM
When car buyers are looking for their dream cars, they are mostly preoccupied with the model, make, and price of the vehicle. Not many people will go out to buy a car of a specific color, just because it’s their favorite color. Yet, the color of a car is important to a certain degree, and today, we will look at some determining factors.
When the Model T was produced in the early 1900s, customers didn’t have a choice of colors as there was only one color – black. Nowadays, we have every color imaginable but it’s interesting to wonder if the color of a car affects its value. In the matter of new cars, there’s no difference in the price if you choose a red or yellow car. However, you will certainly have to pay more if you desire a metallic finish. For this reason, you will find that a car with a metallic finish will be priced somewhat higher than a car with a flat finish when they are put up for sale.
What’s the most popular car color in the U.S.? According to Forbes, the most popular car color in 2008 is white, followed by black and silver. As you may have realized, these are the more conventional colors, which would look great in almost all types of vehicles. Of course, the figures may be affected by availability. Since most dealerships usually have stock of the most popular car colors, car buyers may select a choice of color based on the speed of delivery. Would you wait a few months for your favorite pink car?
Another important factor in selecting the color of a car is to observe if it matches the design. Bright yellow may look great on a Corvette Convertible, but it may not be so great for a Lincoln MKZ. This is why manufacturers only offer selected colors for their vehicles.
When you buy your new car, keep these pointers about colors in mind. If you are from around Lorain County, Ohio, you will be happy to learn about LorMet’s great loan rates for both new and used cars.
Posted by LorMet Webteam on Wed, Nov 25, 2009 @ 02:15 PM
If you are to ask a child what’s a green car, most likely, he or she will tell you that it’s a car that’s green in color. Fortunately, most of us know otherwise. With environmental issues gaining much importance, the term “green” has been coined to mean environmental consciousness. Basically, the concept suggests an effort to keep the earth “green” so its natural resources are protected.
Nowadays, there’s a great range of green products such as homes, fashion, toys, jewelry, insurance, holidays, office equipment, and almost anything you can imagine. However, there’s no green product which is more significant or vital like green cars. It’s widely known that gas emissions from vehicles contribute greatly to the greenhouse effect since there are more than 600 million cars in the world. To counter the problem, car manufacturers have developed cars that are kinder to the environment, otherwise known as green cars.
Environmental protection requires concerted effort and car owners can do their bit by opting for green cars. What are some of these green cars? The most common green cars are hybrid cars that use an electric motor along with a gasoline engine, resulting in more efficient propulsion. All major car manufacturers have their line of hybrid cars as they are quite popular now. Some other green cars include electric cars, hydrogen cars, plug in hybrids, natural gas cars, biodiesel cars, air powered cars, and even future cars. When the first green cars were introduced, people were understandably skeptical about their performance. Now, they are widely accepted and highly fashionable.
If you do not already drive a green car, you should consider going green, especially with LorMet’s great loan rates for new or used cars.