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Financial Education

Considering a used luxury vehicle? Here are some tips.

Picking out a luxury car isn’t quite the same as looking for a standard car. Even more so when it is a used luxury car.

Know your options

A big consideration of luxury cars is the options and features that you desire. These are more limited with a used vehicle, but the savings are great.

Be patient and shop around

First thing’s first: decide what you want and identify your needs. This includes year, make, model, color, and options. What is the most important factor to you? For me, I want a black sportscar with dark interior.  As a young, unmarried woman without children, that fits my lifestyle. This may not work for you, however.

Protect yourself

Finding a used car with a warranty makes a world of a difference. Even if the car is a 1-owner, you never know the full story. Protect yourself and look for a certified preowned vehicle. It might raise the cost of the car some, but it will be worth it having the comfort knowing you’ll be covered for many potential unexpected expenses.

Have some narrowed down?

Use the power of being pre-approved with an SIU Credit Union auto loan to negotiate. Get moving in a new ride with rates are currently as low as 1.99% APR* for 60 months and no payments for 90 days.


*Annual Percentage Rate. APR is determined by an evaluation of the applicant’s credit history and the loan term. Subject to credit approval. Your APR might be higher based on your credit score. Offer valid March 19 –  April 2, 2016. Maximum term:  60 months. Offer applies only to 2005 and newer vehicles not currently financed at SIU Credit Union. All rates subject to change at any time without notice. No additional deductions allowed off promotional rate. Payment is deferred for 90 days. Interest begins accruing upon disbursal of loan. Title transfer fees payable to Illinois Secretary of State apply. Payment example: 1.99% APR for 60 months is $17.53 per $1,000 borrowed.   Membership required.  Federally insured by NCUA.  Call 800-449-7301 for additional details. 

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