Buying a used car can be a smart financial move, offering significant savings compared to purchasing new. However, navigating the used car market can be daunting. Fortunately, if you’re a member of Navy Federal Credit Union, you have access to a program designed to simplify the process and enhance your buying confidence: the Navy Federal Used Car Buying Program. This program offers a suite of benefits and resources aimed at making your used car purchase smoother, more informed, and ultimately more rewarding.
Unlocking Key Benefits with Navy Federal
The Navy Federal Used Car Buying Program isn’t just about financing; it’s about providing you with the tools and assurances you need at every step of the used car buying journey. Let’s explore the core advantages that set this program apart:
Free CARFAX® Vehicle History Reports™
One of the biggest concerns when buying a used car is its history. Has it been in accidents? Are there hidden issues? Navy Federal addresses this directly by offering access to CARFAX Vehicle History Reports. When you get pre-approved for an auto loan through Navy Federal, you can access up to two CARFAX reports. Even if you don’t get pre-approved beforehand, you’ll still receive a CARFAX report for the used vehicle you ultimately finance with them.
Why is this important? A CARFAX report provides crucial insights into a vehicle’s past, including:
- Accident history: Revealing any reported accidents, damage, and severity.
- Title history: Checking for issues like salvage titles, flood damage, or odometer discrepancies.
- Service history: Showing maintenance records, if available, giving you an idea of how well the car has been cared for.
- Number of owners: Knowing how many previous owners a car has had can sometimes indicate its overall condition and usage.
Alt text: CARFAX Vehicle History Report example showing accident history, title history, and service history, crucial for used car buyers.
Having this information empowers you to make a more informed decision, potentially avoiding vehicles with problematic histories and giving you peace of mind. Remember, CARFAX is a valuable tool, but it’s always recommended to supplement it with a physical inspection and test drive.
Exclusive SiriusXM® Trial Subscription
Imagine driving off the lot in your newly purchased used car and immediately enjoying a wide array of entertainment options. Through the Navy Federal Used Car Buying Program, you may be eligible for a trial subscription to SiriusXM satellite radio. This trial allows you to experience hundreds of channels, including commercial-free music, sports, news, talk, and entertainment, enhancing your driving experience right from the start.
What does SiriusXM offer?
- Diverse music channels: From rock and pop to country, hip-hop, and classical, there’s a channel for every musical taste.
- Exclusive content: Hear shows and channels you won’t find anywhere else.
- Sports coverage: Stay up-to-date with live play-by-play, expert analysis, and sports talk.
- News and talk: Access news from various perspectives and engaging talk radio programs.
This trial subscription provides added value to your used car purchase, turning your daily commute or road trips into more enjoyable experiences. Keep in mind that the SiriusXM service will automatically stop after the trial period unless you choose to subscribe.
TruStage™ Auto Insurance Program through Liberty Mutual Insurance
Securing reliable auto insurance is a necessary step after buying a car. Navy Federal, through TruStage™, makes this process easier by offering access to the TruStage Auto Insurance Program underwritten by Liberty Mutual Insurance. This program provides members with potentially competitive rates and coverage options, simplifying your insurance shopping experience.
Benefits of considering TruStage Auto Insurance:
- Convenience: Access insurance options through a trusted partner of Navy Federal.
- Competitive rates: Potentially benefit from group discounts and competitive pricing offered to credit union members.
- Variety of coverage options: Customize your policy to fit your specific needs and budget.
Alt text: TruStage Auto Insurance card graphic, highlighting auto insurance benefits for Navy Federal members through Liberty Mutual.
While Navy Federal facilitates access to this insurance program, it’s essential to understand that the insurance itself is provided by Liberty Mutual and not directly by Navy Federal. Always review policy details and compare options to ensure you find the best coverage for your individual situation.
Guaranteed Asset Protection (GAP)
Protecting your investment extends beyond just insurance. Guaranteed Asset Protection (GAP) is an optional coverage that can be particularly valuable when financing a used car. GAP helps cover the “gap” between what you still owe on your car loan and what your insurance company might pay out if your car is declared a total loss due to accident or theft.
Why consider GAP? Used cars, like new cars, can depreciate in value over time. If your car is totaled, your insurance payout might only cover the current market value, which could be less than your remaining loan balance. GAP can help bridge this difference, potentially saving you from out-of-pocket expenses in a difficult situation.
It’s important to note that GAP is optional and purchasing it won’t affect your loan application or terms with Navy Federal. Carefully consider the terms and conditions of GAP coverage to determine if it’s the right choice for your needs.
Eligibility and Important Considerations
To take advantage of the Navy Federal Used Car Buying Program, you generally need to be a member of Navy Federal Credit Union and qualify for an auto loan. Loan approval is subject to credit and collateral evaluation. Keep in mind that specific offers and program details, such as the CARFAX access and SiriusXM trial, may be subject to change or expiration.
Key things to remember:
- Credit approval is required.
- Program terms and offers can change.
- CARFAX reports are for personal, non-commercial use.
- SiriusXM trial requires activation and auto-renews into a paid subscription unless canceled.
- Insurance is offered through TruStage and underwritten by Liberty Mutual, not Navy Federal directly.
- GAP is optional coverage.
Drive Away with Confidence
The Navy Federal Used Car Buying Program is designed to empower its members with valuable resources and benefits when purchasing a used vehicle. From vehicle history reports to entertainment trials and insurance options, this program aims to make the used car buying experience more transparent, affordable, and enjoyable. If you’re a Navy Federal member in the market for a used car, exploring this program could be a smart first step towards getting behind the wheel with confidence.
