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    WEOKIE: your one-stop-shop for everything homes!

    From finding the home of your dreams to financing it, closing the loan, and even insuring it... we want to make every step in your home-buying experience as easy and as affordable as possible.


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      From auto loans to refinancing a mortgage, WEOKIE has the resources and tools to create a lending program tailored to your needs.


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        At WEOKIE, our purpose is to build strong communities by supporting financial growth and well-being, one person at a time.

          4 min read

          How to Purchase a New or Used Car While Social Distancing

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          Interest rates are great right now! If you’re considering getting a new or used car while following any safe distancing restrictions in your area we can help. Below are some steps for online shopping that make it easy to complete your auto loan transaction from the safety of your home.

          Set a Budget

          The first step in being successful in your car shopping experience is to set a budget. Review your bills and stick to a price point that will comfortably work for you. Make sure to include all the extras that come along with the purchase of your new or used car, this includes title, tax, and registration costs. There are many online resources to help with budgeting for your loan and providing you a step by step process of what’s involved. Enjoy our free checklist 8 Things You Need to Apply for an Auto Loan.

          Get Preapproved for a Loan

          It’s always a good idea to get preapproved for a loan from your bank or credit union before approaching the car dealership. This will insure you get the best interest rate possible. Most banking establishments make it fairly easy to get preapproved on their website. The process can take anywhere from 10-20 minutes. Once you’re approved, the lender will contact you with the total you can spend and the interest rate you were approved for.

           Do Your Homework

          Now comes the fun part, finding the right car for you! While shopping online make sure you read reviews and look for incentives that might get you more bang for your buck.

          Don’t forget when browsing your local dealers’ website to also check your local banks and credit union websites for companies they work closely with or any repossessed vehicles they may have available. WEOKIE partners with First Rate Auto,  TrueCar and Enterprise to make your shopping easier. Make sure you are checking inventory at multiple dealers and if you are willing to drive to another city or state you might get a better price.

          When looking for a used car, you might want to search for certified pre-owned options. Dealers or manufacturers may also offer cash rebates, low-interest financing or extended warranties on certain makes or models. Due to the climate of stress and worry some dealerships are also offering a grace period on your first payment.

          If you are practicing social distancing but would like to see the car in person try to visit the dealership after-hours or on a day they might be closed (usually Sunday). Most dealerships are offering virtual tours that involve sending a walk-around of the inside and out of the vehicle you are interested in via email, text or social media to reduce in-person shopping. Some locations are conducting home visit test drives of the cars. A driver will bring the car to your home and sanitize the car before your test drive. You can easily chat with an Internet Sales Manager to get all of your questions answered without leaving your home.

          There are also online retailers like Carvana that offer car vending machines and will deliver your new or used car to your front door. These options are great if you are a shopper looking to steer clear of the personal experience.

          Time to Make Your Purchase

          In most cases, you might still have to visit the dealership to complete your car sale. If you are trading in your current car they will want to do an appraisal of that vehicle in person. If there is no trade in and you are pre-approved for your loan, you may be able to do the entire transaction online, each dealership will vary.


          Have More Questions About a New Auto Loan? We’re Happy to Help!

          Here at WEOKIE Federal Credit Union, we offer great rates on auto loans and auto loan refinancing. Plus, we work with our members to ensure that they feel informed, supported and prepared to take on the financial responsibility of a new loan. Apply online today!

          Give us a call today at (405) 235-3030 or 1-(800) 678-5363 or set up an appointment today to talk with a financial representative. We look forward to working with you!


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