Buying a Car in 2025? 5 Tips to Save Money and How to Choose Between New vs. Used
Looking to buy a car this year? Timing, financing, and choosing the right vehicle for your lifestyle can make a big difference. Whether you’re purchasing your first car or upgrading your current one, informed decisions can save you thousands.
Right now, Scott Credit Union is offering lower auto loan rates, along with fast pre-approvals and flexible terms for both new and used vehicles. That means more flexibility, more savings, and lower rates for wherever the road takes you.
Here are five things to keep in mind before you buy a car in 2025:
1. Auto Loan Rates Just Dropped at SCU: Here’s Why That Matters
The lower your interest rate, the less you pay over time. With auto loan rates recently lowered at SCU, now is one of the most affordable times to finance a vehicle.
Why lower rates help:
- Lower monthly payments
- More affordable total cost of ownership
- Ability to finance a newer or better-quality car
Get pre-approved online to know your budget and boost your negotiating power at the dealership.
2. Best Time to Buy a Car
Timing matters in the auto industry. Certain months and events offer better discounts, trade-in values, and dealer incentives.
Here are the best times to buy a car in 2025:
- Summer: Dealerships push post-winter sales
- Holiday weekends: Look for Labor Day deals
- October–December: Clearance pricing on older models
- Black Friday and year-end sales: Deep discounts
- Mondays: Showrooms are quieter, giving you more leverage
3. New vs. Used Car: What’s the Right Choice for You?
Whether you’re considering a brand-new vehicle or a well-maintained used car, both options offer benefits. It depends on your budget, how long you plan to keep the vehicle, and what features matter most.
Pros of buying new:
- Latest safety and tech features
- Lower maintenance upfront
- Often better loan rates
- Full manufacturer warranty
Cons of buying new:
- Higher purchase price
- Fast depreciation
Pros of buying used:
- Lower upfront cost
- Slower depreciation
- Often lower insurance premiums
Cons of buying used:
- More maintenance sooner
- Limited selection or warranty
At SCU, we offer competitive rates for both new and used cars, so your choice stays flexible.
4. Budget First, Then Choose the Vehicle
Before you step onto a lot or start browsing online, set a realistic budget.
Here are a few things to consider:
- Monthly loan payment (including interest)
- Insurance and gas costs
- Future maintenance or warranty coverage
- Down payment options
Use SCU’s pre-approval process to shop smart and avoid overspending.
5. Consider How Long You’ll Keep the Car
Your long-term plans influence what kind of vehicle makes sense. If you’re planning to keep the car for 8–10 years, or even longer, buying new may be worth the investment. If you only plan to drive the car for 2-4 years and then upgrade, a well-maintained used vehicle could be the smarter financial move.
Frequently Asked Questions
When is the best time to buy a car in 2025?
- Summer is a strong season due to dealership incentives and loan sales. Year-end clearance events in October through December are also great times to find deals.
Is it better to buy a new or used car right now?
- It depends on your budget, priorities, and how long you plan to keep the vehicle. New cars offer tech and warranty advantages, while used cars are more affordable and depreciate more slowly.
How can I get the lowest auto loan rate?
- Apply with a trusted local lender like Scott Credit Union, check your credit score, and consider getting pre-approved before shopping.
Ready to Buy a Car? Scott Credit Union Makes It Simple
Now is a great time to buy with lower auto loan rates, helpful guidance, and fast pre-approvals. Whether you’re buying new or used, Scott Credit Union is here to help you make a smart, affordable choice with lower rates for wherever the road takes you.
Visit SCU.org or stop by your local branch to get pre-approved today!
