Raise your hand if buying a car feels intimidating. ✋

Most of us will need a new set of wheels at some point, and there’s a good chance that you’ll need some type of financing to drive off the lot. If it’s your first time looking into an auto loan, here are 4 tips to make it smooth sailing… or shall we say, driving.

Assess your financial situation.

One piece of advice you’ll hear a lot: Put 20% down, and use financing for the rest. But according to the advisors at South Carolina Federal Credit Union, suggested down + monthly payment amounts vary depending on your individual situation — something that advisors can help you determine.

Pro tip: Not sure what you can afford? Use this Car Affordability Calculator to figure it out.

Check your credit score in advance.

Generally when it comes to borrowing, the higher your credit score is, the better. Don’t have much credit or a great score? Don’t worry — your bank has options for you, too.

Pay extra attention to interest rates.

These are the nuts + bolts of auto loans, and they can have a big impact on your financial state down the road.

Borrow from a credit union.

Because credit unions are not for profit banking institutions, they can often offer lower (read: much better) interest rates than banks typically can. South Carolina Federal Credit Union can help car shoppers solve the financing puzzle so you can buy a car and still feel good about your spending.

Bonus: Their new auto loans also offer a 90-day payment-free period, which means you can free up that money for other expenses. Ⓟ