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Money Management

Articles:
Buying a Car: What You Need to Know

First, you have to decide if you will buy new or used. Used cars are generally less expensive and recent models may still be under factory warranty, but there is always the concern that you are buying someone else’s problem. Buying a Certified Pre-Owned car can alleviate this worry. Certified Pre-Owned vehicles are cars that have been inspected and certified to be in top-notch condition according to the standards of the manufacturer. On the other hand, if you want the benefit of being the first owner and to have the latest fuel efficiency and safety features, a new car may be the way to go. In addition, you can typically get a lower interest rate on an auto loan for a new car.

Make sure you are getting the best price on your car. There are countless resources available to help ensure you’re getting the right car for your needs, and that you don’t pay too much. Consumer Reports is a great resource, but don’t let your research end there. By referring to websites like CarsDirect.com and Edmunds.com, you can arm yourself with a lot of information before you head to the dealership. For example, they can let you know if a manufacturer is offering a rebate to dealers for certain models – and you can often negotiate your purchase price down with that information. They also can let you know which cars are more reliable and cost less to maintain.

If you are thinking of trading in your old vehicle, make sure you know the value of your old car before you let the salesperson offer you a price for it. Dealerships make money off your trade-in when they resell it for a retail price, so don’t let them fool you into thinking your trade-in is worth next-to-nothing. The best way to determine your car’s value is to search ads to see what similar used vehicles are selling for, or to refer to the market value according to standard sources like Kelly Blue Book (found online at KBB.com).

Your next question will probably be, “Should I finance through the dealer or through a bank?” Shop around to get the best financing you can. It may sound convenient to use dealer financing, but remember that the Federal Reserve has set interest rates to historic lows, so your bank may have a better rate than what the dealer is offering. If you do decide to go with a bank, getting pre-approved for your loan before you head to the dealership can give you extra leverage in your bargaining.

Buying a car involves more than just finding a vehicle that looks good to you. By doing the right research, you can save yourself some serious money when you purchase the vehicle, as well as future repair costs and finance charges. Once you’ve done that homework, however, you’ll be ready to take advantage of the Presidents’ Day deals. Have fun test driving!

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Federal Retirement Benefit Payments

Going Electronic May 1, 2011

If you receive any benefit payments from the Federal government, including Social

Security, Veterans Administration, or other benefit payments, soon enough you won’t

be able to receive paper checks. Effective May 1, 2011, all people newly applying for

federal benefits will have to receive benefits electronically – no more mailed checks. For individuals already receiving paper benefit checks, the Treasury requires you switch over to receiving your payments via direct deposit or a Treasury sponsored debit card by February 2013. Here at CSB, we recommend that you get ready now by having your payments automatically deposited into your CSB bank account. Simply contact the federal agency from which you receive your benefit payments and provide the account number for the Clinton Savings Bank account where you want the funds deposited, as well as CSB’s routing number (211373115). They will do the rest…but we’re here to help if you have any questions!

Federal Retirement Benefit Payments

Going Electronic May 1, 2011

If you receive any benefit payments from the Federal government, including Social

Security, Veterans Administration, or other benefit payments, soon enough you won’t

be able to receive paper checks. Effective May 1, 2011, all people newly applying for

federal benefits will have to receive benefits electronically – no more mailed checks. For

individuals already receiving paper benefit checks, the Treasury requires you switch

over to receiving your payments via direct deposit or a Treasury sponsored debit card

by February 2013.

Here at CSB, we recommend that you get ready now by having your payments automatically

deposited into your CSB bank account. Simply contact the federal agency

from which you receive your benefit payments and provide the account number for the

Clinton Savings Bank account where you want the funds deposited, as well as CSB’s

routing number (211373115). They will do the rest…but we’re here to help if you have any

questions!

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Money Management

Articles: Buying a Car: What You Need to Know

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Articles:
Buying a Car: What You Need to Know