17/07/2022
- Buying Your Next Vehicle: New vs. Used with Truliant
- The Case for Buying Pre-Owned
- Truliant's Credit Union Auto Marketplace Explained
- Trade-Ins: Maximising Your Current Vehicle's Value
- Mechanical Repair Coverage (MRC): Peace of Mind for Older Vehicles
- Getting a Quote for MRC
- Is Truliant a Good Credit Union?
- Frequently Asked Questions
- Making Your Decision
Buying Your Next Vehicle: New vs. Used with Truliant
Deciding between a new or used car is a significant decision, impacting your budget, driving experience, and long-term satisfaction. For many, the allure of a brand-new vehicle with that 'new car smell' is strong, but the practicality and savings offered by a pre-owned car often win out. Truliant Federal Credit Union, in partnership with Coastal Credit Union and TrueBuy Automotive, aims to make the process of acquiring a pre-owned vehicle both straightforward and cost-effective through their innovative Credit Union Auto Marketplace.
The Case for Buying Pre-Owned
While new cars offer the latest technology and a full manufacturer's warranty, they also come with a substantial depreciation hit the moment they leave the dealership. Pre-owned vehicles, on the other hand, have already undergone their steepest depreciation, meaning your money often goes further. This allows you to potentially afford a higher trim level or a more luxurious model than you might be able to if buying new. The Credit Union Auto Marketplace specifically focuses on pre-owned vehicles, offering members a curated selection designed to save them time and money.
Truliant's Credit Union Auto Marketplace Explained
Truliant Federal Credit Union has partnered to create a modern pre-owned auto-buying experience tailored for its members. The Credit Union Auto Marketplace, powered by TrueBuy Automotive, simplifies the car-buying journey. Here's what you can expect:
- Quick Online Vehicle Search: Access a vast database of vehicles from the comfort of your home.
- No-Haggle Pricing: This is a significant advantage. You'll know the price upfront, eliminating the often stressful and time-consuming negotiation process. This transparency ensures you're getting a fair deal from the outset.
- Member Discounts: As a credit union member, you benefit from exclusive discounts, further reducing the overall cost of your purchase.
- Free Home Delivery: For added convenience, Truliant offers free home delivery within a 250-mile radius, bringing your new car directly to your doorstep.
- Prices Below J.D. Power Values: The marketplace is committed to offering prices that are below established industry benchmarks, ensuring you receive excellent value.
- Loan Application Assistance: Truliant will assist you in submitting loan applications and securing competitive rates, streamlining the financing aspect of your purchase.
Trade-Ins: Maximising Your Current Vehicle's Value
If you're looking to trade in your current vehicle, understanding its worth is crucial. The automotive market has become more transparent, with online resources providing approximate values based on make, model, year, and mileage. However, the true 'fair-market value' reflects how desirable your car is in the current marketplace. This knowledge empowers you to set realistic expectations and evaluate offers effectively. While private sales can sometimes yield a higher price, especially for unique or meticulously maintained vehicles, they can also be more time-consuming. The Credit Union Auto Marketplace simplifies this by offering a streamlined process, potentially including your trade-in as part of the overall transaction.
Mechanical Repair Coverage (MRC): Peace of Mind for Older Vehicles
As vehicles age, the likelihood of unexpected repairs and associated costs increases. Truliant offers Mechanical Repair Coverage (MRC) as an optional add-on to provide an extended warranty after your manufacturer's warranty expires. This coverage can bring significant peace of mind, especially for pre-owned vehicles. MRC offers a range of benefits designed to protect you financially and practically:
Key Benefits of Mechanical Repair Coverage:
| Benefit | Details |
|---|---|
| Substitute Transportation | Up to $50 per day for a maximum of 10 days for rental cars or rideshare, available from day one of coverage. |
| 24-hour Emergency Roadside Assistance | Up to $125 per occurrence, covering towing, battery jumpstarts, fluid delivery, flat tire assistance, and lockout services. |
| Travel Expense Reimbursement | Up to $200 per day (5-day max) for lodging, food, and transportation if a covered breakdown occurs more than 100 miles from home and the vehicle is held overnight. (Not available to NY residents). |
| Key Replacement | Up to $800 per occurrence for lost, stolen, or damaged keys and fobs, including programming. (Not available in CT, MA, PA, VT). |
| Paintless Dent Repair | Repairs dings and dents up to 4 inches using paintless dent repair techniques. (Not available in CT). |
| Commercial Use Coverage | Covers breakdowns when the vehicle is used for permitted commercial purposes. |
| No Out-of-Pocket Expense (Except Deductible) | The administrator pays repair facilities directly. |
| Good at Authorized Repair Facilities | Coverage valid across the continental United States, Alaska, Hawaii, and Canada. |
| Rideshare Coverage | Covers breakdowns when the vehicle is used for ride-sharing services like Uber or Lyft. |
| Mobility Equipment Coverage | Provides coverage for installed mobility equipment components. |
| Transferable Coverage | Coverage can be transferred to a new owner for an administrative fee, potentially adding resale value. |
| Cancelable Agreement | Receive a full refund within 60 days if unused, or a prorated refund thereafter (less an administrative fee). |
Getting a Quote for MRC
To obtain a quote for Mechanical Repair Coverage, you will need your vehicle's VIN (Vehicle Identification Number) and its exact mileage. Having this information readily available will expedite the process when you contact Truliant to discuss the available plans and find the best fit for your needs and budget.
Is Truliant a Good Credit Union?
Truliant Federal Credit Union is a mission-driven, not-for-profit financial institution dedicated to improving lives through excellent service and straightforward financial solutions. Chartered in 1952, Truliant serves over 340,000 members across North Carolina, South Carolina, and Virginia, operating more than 35 branches. Their partnership with Coastal Credit Union to establish the Credit Union Auto Marketplace underscores their commitment to providing valuable, member-centric services. As a top 100 U.S. credit union, Truliant has a strong reputation for supporting its members' financial goals, including significant life events like purchasing a vehicle.
Frequently Asked Questions
- What is the Credit Union Auto Marketplace?
- It's a partnership between Truliant Federal Credit Union, Coastal Credit Union, and TrueBuy Automotive to offer a streamlined, member-focused pre-owned car buying experience with no-haggle pricing and member discounts.
- Can I buy a new car through Truliant?
- The Credit Union Auto Marketplace specifically focuses on pre-owned vehicles. Truliant, as a credit union, can offer financing for both new and used cars purchased from other dealerships.
- What does 'no-haggle pricing' mean?
- It means the price listed for the vehicle is the final price, and there is no negotiation required, making the buying process simpler and more transparent.
- What is Mechanical Repair Coverage (MRC)?
- MRC is an optional extended warranty that can help cover the costs of unexpected mechanical repairs after your manufacturer's warranty has expired, offering various benefits like roadside assistance and rental car reimbursement.
- Where is the physical dealership located?
- The Credit Union Auto Marketplace dealership is located at 4990 University Parkway in Winston-Salem.
Making Your Decision
Whether you're leaning towards a new car or a reliable pre-owned vehicle, Truliant Federal Credit Union provides resources and services to support your automotive journey. The Credit Union Auto Marketplace offers a compelling option for those seeking a pre-owned car, emphasising convenience, transparency, and savings. Coupled with the option of Mechanical Repair Coverage, Truliant empowers its members to make informed decisions and drive away with confidence, knowing they have a trusted financial partner by their side.
If you want to read more articles similar to Truliant & Your Next Car Purchase, you can visit the Automotive category.