Jul 02, 2021 / Auto & RV

Why July is the Best Month to Buy (or Refinance) a Car

You may have heard about the recent global chip shortages, unprecedented vehicle demand, and low dealership inventory, all of which may have caused you to push the proverbial brake pedal on buying a car in the near future. But, there are actually a few really great reasons that July is an amazing time (maybe the best time ever) to buy a new or used car, or refinance your existing car loan.

The July 1.49% Auto Loan

Let’s cut to the chase: there is one single, supreme, paramount, unsurpassed reason to buy a car or refinance your existing loan in July. It’s the Utah First 1.49% auto loan, and no other reason that you can come up with (or read in this creatively composed blog post) even comes close. From July 1 to July 31, you can get a 1.49% rate on your new car purchase or refinance for up to 5 years. It’s a rate worth celebrating, and reason enough to pull the trigger on a purchase or refinance this month.

Why July is a Great Time to Buy a Car

Many dealers and existing car owners are motivated to sell their pre-owned vehicles right now. And, with fewer buyers in the market, now may be a good time to jump on that pre-owned car you’ve been eyeing. Plus, even with low inventory, this is the time of year that dealerships transition from selling last year’s models in favor of incoming ones, and many are motivated to sell cars that are sitting on the lot. That makes summer a great time to get a good deal on last year’s inventory or find a brand-new model that no one else has. But before you buy, new or used, get pre-approved for a great interest rate at Utah First so you can save money and act fast when you find the right car.

Why July is a Great Time to Refinance

If all the talk of scarce semiconductors has convinced you to hold off on buying a new car for a while, keeping your existing car isn’t such a bad consolation prize. Especially when you consider that you can trade in your expensive, non-Utah First auto loan for a great rate at Utah First, a new loan might be your best option. After all, you don’t need silicon wafers, computer chips, or in-stock inventory to refinance your own car. And, with rates as low as 1.49%, refinancing your existing loan can be a game-changer. It can lower your monthly payment, and save you money over the life of your loan by paying less interest to your lender.

Whether you’re looking for a new or used car, or you’ve decided to stay with your current car a little while longer, come to Utah First and get a great rate on a new purchase or refinance for up to 5 years. But whatever you do, decide to do it this July to take advantage of an amazing rate. Visit a Utah First branch or apply online, this July only.