1st Advantage Federal Credit Union

Q. What is my first step in buying a vehicle?
A. Before making a big purchase you should do your homework:

• Know what you can afford

You can use our easy-to-use online calculator to see how much your vehicle payments will be each month. Our calculators can help you make the right choice for your budget.

• Get Pre-approved

By doing so, you can go to the dealership with the same level of control as a cash buyer. The process is quick and easy and will provide you with a stress-free auto buying experience. Call 757-886-3337 or apply online.

• Know what suits your family

We know it’s tough to get exactly what you want. That’s why we have a team of experts on hand to help you find the vehicle that will suit your family and your budget. We also offer several Auto Buying services to help you at every stage of the buying process.

• Consumer Reports

Whether you are looking for a fuel-efficient car, a cutting-edge convertible, or a family minivan, Consumer Reports can help guide you through the car buying experience.

• Internet

Use our online Research tools for a safe, unbiased evaluation of your trade in and the vehicle(s) you are interested in.

• Insurance Company

Protect your vehicles, passengers, and yourself by knowing how much it will cost to insure your new vehicle. The dealership and 1st Advantage FCU require that you have a valid insurance policy in place before the transaction occurs.


Q. What is a Black Book?
A. The Black Book is a book that compiles pricing of what a vehicle goes for at a private, dealer only auction or wholesale pricing. Dealers get better pricing at these auctions because they don't have to deal with the general public, or the consumer. This pricing is also reflective of the fact that there could be issues with the car, that don't have to be repaired by the selling dealer.


Q. What is the NADA Book (Blue Book)?
A. NADA stands for National Automobile Dealers Association. The NADA Blue Book values are of great use to anyone who wants to know exactly how much a new or used car is worth.

Q. What is the difference between NADA Blue Book and Kelley Blue Book?
A. The difference between NADA Blue Book values and Kelley Blue Book values is that the NADA value is often higher, since it provides the basis for taxes. The NADA value of a car is compiled by averaging the actual wholesale prices paid in a given area of the country.


Q. How do I know if I should trade or sell my used vehicle?
A. You should always try to sell your vehicle outright. Selling it to a private party can be cost-effective. You control the transaction and it may provide cash for a down-payment on your next vehicle.


Q. What is MSRP vs. Invoice?
A. MSRP stands for "Manufacturer's Suggested Retail Price." It is a suggested selling price set by the manufacturer for each vehicle. It is also referred to as the "sticker price" because it’s clearly listed on a sticker placed in all new car windows.
Invoice is the price that the dealership owns the vehicle for.


Q. What is Trade vs. Retail?
A. The Trade value of the vehicle is if you are trading or selling your vehicle to the dealership.
The Retail value is the price the dealership is trying to selling their vehicle for.


Q. How much of the vehicle purchase price will 1A finance?
A. 1A will finance 100% of the retail value based on approval.

Q. How do I know how much I can afford to pay for a vehicle?
A. Before financing or leasing a vehicle, make sure you have enough income to cover your current monthly living expenses. Most experts say you should not spend more than 20 percent of your monthly income. You can figure out for yourself what you can afford with our easy-to-use online calculator.


Q. Any final words of wisdom for a car buyer?
A. Yes! Make sure you follow the manufacturer’s outlined maintenance schedule; maintain the appearance of your vehicle both inside and out and make your payments on time.