3 Things to Know About Buying a Brand New Car in 2021

3 Things to Know About Buying a Brand New Car

There are many things to consider before purchasing any car, but a new car might spark particular questions. Here are three important things to think about.

First off, ask yourself “Why am I buying this car?” Is it for daily use? Do you need a lot of storage space? How much seating do you need? Be sure the makes and models you narrow your search down to are practical reflections of how you will use the car.

How Much Can You Can Afford? Find Out by Getting Pre-approved!

Visit Baltimore County Employees Federal Credit Union before you even step on the lot. We can help with an auto loan that fits your circumstances—and your budget. We won’t put you into a loan you can’t afford, and we’ll explain everything to you away from the high-pressure environment of the dealership. A pre-approval also lets the dealer know you’re a serious buyer and may even give you negotiating power to get the best deal.


Most cars depreciate at about 15% per year. New cars, however, depreciate about 20% as you drive off the lot. Consider this before you decide to buy a new car, especially if you can’t make a large down payment. Think about protecting your finances should something happen to your new purchase. We offer low-cost GAP (Guaranteed Auto Protection) to cover the “gap” between what the insurance company pays and what you owe in the event of a total loss due to accident or theft. And, our GAP costs less than you’ll pay at the dealer—for the same coverage!


Consider the true cost to own the car you’re considering. This includes insurance, fuel, maintenance, etc. Maintenance costs vary by manufacturer and model. Some manufacturers have better reputations than others, so be sure to do your research. Some new cars even come with free maintenance plans for the first couple of years or for a certain number of miles.

When you’re ready to buy your next vehicle, talk with us first! We’re here to help you achieve your goals!