6 Tips for Buying or Leasing a New Car


At this time of year, ads for new cars are seemingly everywhere. If you are in the market for a new vehicle, Victory State Bank, Staten Island’s only community-based commercial bank, posits that your shopping experience can be enhanced with a bit of preparation.

To assist you in getting the best deal and avoiding problems when buying or leasing a new car, the bank is sharing these six consumer tips from USA.gov:

1)       Check out different car makes and models. Do your research first, and compare vehicles. You can go to the website of every car manufacturer and review every model of car available. In fact, many manufacturer websites will even let you use drop down menus to “build” an electronic version of a car. Then, when you decide which model, colors, and accessories you want, you can use the website to locate a dealer and find the closest showroom that has the cars you like.

2)       Research the dealer’s price for the car and options. It’s easier to get the best price when you know what the dealer paid for a vehicle. The dealer invoice price is available at a number of websites and in printed pricing guides. Try to locate the wholesale price—this figure factors in dealer incentives from a manufacturer, and is a more accurate estimate of what a dealer is paying for a car.

3)       Find out if the manufacturer is offering rebates that will lower the cost.

4)       Get price quotes from several dealers. Find out if the amounts quoted are the prices before or after rebates are deducted.

5)       Avoid low-value extras such as credit insurance, auto club memberships, extended warranties, rust proofing, and upholstery finishes. You do not have to purchase credit insurance to get a loan.

6)       Hybrid-electric cars are popular among consumers interested in fuel economy and reducing their negative impact on the environment. These cars combine the benefits of gasoline engines and electric motors, and can be configured to achieve different objectives such as improved fuel economy, increased power, or additional auxiliary power. Also look for the Smartway logo to identify cleaner, more fuel-efficient cars and trucks. Fueleconomy.gov has more information about hybrids, electric vehicles, and alternative fuels.




About Victory State Bank


VSB Bancorp, Inc. (OTCQX: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online at www.VictoryStateBank.com.


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