By Rebecca K. Worthington

I recently read a fascinating article on the value of your time, when it comes to purchasing a new car. Nobody wants to sit in a dealership for hours. But so many of us do, when that time could have been devoted to more worthy pursuits. During a day (or even two) spent haggling over a couple of hundred dollars, it’s possible you could have earned more money or spent quality time elsewhere.

As an employee of a federal credit union, where we focus on helping our members build savings in every way, this is a concept I had a hard time wrapping my head around. I also come from a family where every penny counts, and Dad taught us to negotiate tooth-and-nail with car dealers. After all, everyone wants to feel they’ve come out on top when they walk out of a car dealership with a new set of wheels. But the truth is that no car dealer is going to sell you a car at a loss. It’s more realistic to expect to pay a fair price, as you would for any other service.

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So what can you do to save yourself time as well as money? Instead of haggling endlessly, here are my favorite tips inspired by those who have studied the art of the car deal:

1. Resources like TrueCar, Auto Trader and Kelley Blue Book can help you determine a fair price for the vehicle in which you’re interested. Using these tools for comparison, do your research before you enter the dealership. If the dealer can’t match it or come close, move on to another dealership. No hours of haggling – just move on.
2. Resist buying so-called “extras.” Many dealerships will already include items like paint protection, anti-theft, window tinting and more. Consider walking away from a dealership that posts these “extras” as an addendum sticker next to the factory window sticker.
3. Consider a low payment alternative that has many of the benefits of leasing but still lets you own the vehicle. Like a lease, many of these programs offer payments that are considerably lower than conventional financing. But you own the vehicle and have the flexibility and benefits of vehicle ownership. At Benchmark Federal Credit Union, it’s called the DrivingSense Program. Additional benefits include:

• New and pre-owned vehicles up to five (5) years old qualify
• Flexible loan terms of up to 72 months
• No down payment required
• Annual mileage options of 12,000, 15,000 and 18,000 available
• No security deposit or acquisition fees
• No early payoff penalty
• Since the title is in your name, you have more options prior to loan maturity and at loan maturity, including the ability to turn your vehicle in and walk away at the end of the loan term
• Refinance your current vehicle loan to reduce your monthly payments
• Enables you to easily upgrade and/or change your vehicle every couple of years

You don’t have to give up on all your haggling habits but adjusting even a few strategies can save you both time and money. I encourage you to explore lease alternatives such as Benchmark’s DrivingSense Program, to see if it makes sense for you. For more information, please feel free to call us at 610-429-1600 or visit a Benchmark Federal Credit Union branch office.

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Rebecca Worthington is Vice President of Marketing with Benchmark Federal Credit Union, which has new branches in Phoenixville and downtown West Chester. Celebrating more than 75 years of service, Benchmark FCU is the only federal credit union that exclusively serve Chester County. 610-429-1600; BenchmarkFCU.org.