San Diego, CA, February 11, 2019 --(PR.com
)-- Mission Federal Credit Union, San Diego’s largest, locally-based financial institution exclusively serving San Diego County, conducted a survey of 400 San Diegans between the ages of 25 and 54, to learn about how San Diegans shop for a new vehicle.
Questions explored how survey participants shop for auto loans
, whether they intend to lease or purchase with cash, how long they’ve had their current vehicle and what drove them to purchase their car in the first place. The majority of those surveyed, over 75 percent, intend to buy their next car, with over 50 percent intending to finance and nearly 25 percent planning to buy the vehicle outright. For those intending to finance, over 62 percent said that the monthly payment is the most important factor for them when shopping for an auto loan.
Mission Fed also wanted to know whether survey participants believe that using popular rideshare options is enough, or whether participants believe that a personal car is a necessity. Of those surveyed, nearly 90 percent said that a personal car is necessary for them.
With that in mind, Mission Fed wants to be able to help San Diegans get into the car they want at a monthly payment they can afford. These survey results help Mission Fed meet the needs of their valued members and offer competitive rates to any San Diego County resident looking to finance a vehicle. Mission Fed VP Consumer Lending Operations, Liz Schrock, said, “At Mission Fed, we want to help our members get in the car they need with payments that work for their budget. We’re here to help our members every step of the way when it’s time to buy a new vehicle.”
Mission Fed is committed to helping San Diegans reach their financial goals. Ultimately, the results of this survey helped Mission Fed better understand what San Diegans need, and how Mission Fed can help them successfully purchase their next vehicle.
Learn more about Mission Federal Credit Union Auto Loans at www.MissionFed.com/Auto-Loans. See the full survey results online
About Mission Federal Credit Union:
Mission Federal Credit Union is a not-for-profit organization providing a wide variety of financial services to meet the needs of its customers. With $3.5 billion in assets, 31 local branches, and more than 240,000 customers, Mission Fed is the largest, locally-based financial institution exclusively serving San Diego County. Mission Fed enhances the lives of its customers through financial education and financial services. In addition, Mission Fed contributes to hundreds of educational and nonprofit organizations. All San Diegans are welcome. Insured by NCUA. To learn more, visit www.MissionFed.com.