Buying a new or used car? Stoneham Savings Bank can help. With as little as 20% down, pre-approved customers can choose the rate and term combination that best meets their budget. Plus, with automatic payment, you'll get a .25% rate discount. View our current automobile rates. Click here for a printable application. Bring the completed application to any branch for processing.
You'll also be glad to know that Stoneham Savings Bank portfolios its loans – this means that you simply call us when you have a question.
Tips for Car Buying: Research, Test Drive, Evaluate, Negotiate
Patience pays, so take your time and do your research. There are plenty of well known and trusted online car buying websites such as Edmunds ® and Kelly Blue Book ® that will provide in-depth reviews, market values and auto manufacturers' incentives.
Test drive more than one vehicle, remembering that you'll have to live with this decision for quite some time. If you're buying a used automobile, always request a vehicle history report. A vehicle history report like CARFAX ® may bring to your attention any undisclosed mechanical problems or accidents, which will help you to make a better decision.
Consider taking the used car to an independent mechanic. For a nominal fee, the mechanic will evaluate the car and give you an unbiased and professional opinion.
Excluding brand new models, there is always room to negotiate the sticker price. But before discussing price with a salesperson, you should already know, based on your research, the most you would pay.
Lastly, do not feel pressured to buy. Your most powerful negotiating tool is your ability to leave without buying…you'll be surprised how successful this strategy can be. Best of luck!
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