I happened upon this video today on CNN. And lo and behold…Clark Howard – CNN’s Money Expert – is talking about getting the best deal for a car loan at a credit union. I’m biased, but I agree. Especially if you already have a car, and a car loan. I can’t speak for all credit unions, but here at MCCU, we are offering rates as low as 1.99% APR*, with 90 days NO PAYMENTS**. So if you have a used auto and are making payments, call us for a quote! We may be able to save you money each month. And who doesn’t like saving money?

You can also apply online for a fast response – and with no application fees to boot!

So listen to Mr. Howard – he is the Money Expert after all! Go to a credit union for your next car loan or refinance!

* APR=Annual Percentage Rate. Rates as of 01/01/12 and are subject to change at any time. Must meet credit and income criteria. Rate quoted is the preferred rate with a 24-month term. Subject to credit approval and membership eligibility. Sample Payment: $510.44 (based on 24 month new/used car loan, $12,000, 1.99% APR). Other rates and terms available. Restrictions may apply. Existing MCCU Auto Loans not eligible for refinancing. Membership required.
** Interest will accrue from date of funding.

A VIN is not merely a random set of 17 characters. Each digit signifies information about the vehicle. A VIN is a vehicles’ DNA; it is unique and unduplicated. For example, the first character identifies the country where the vehicle was made. Each country has a letter or number associated with it- the US is either 1 or 4. The second character identifies the manufacturer such as Toyota or Volkswagen. Each digit of the VIN provides more and more information on the vehicle.

VINs are also printed on several car parts to cut down on part theft. Car parts that are labeled with VINs include transmissions, front and rear bumpers, engines, hoods, right and left doors, sliding cargo doors, right and left quarter panels and side assemblies, pickup/cargo boxes, rear doors and hatchback/deck lid/tailgates.

VINs do not just assist the automotive industry in identifying their vehicles, but can help car buyers avoid fraud. A vehicle’s history is tracked by its VIN and can provide useful information to car buyers. Anyone can view a car’s history using the VIN. Simply enter the VIN into one of the many websites that offer this service (e.g. CARFAX, instaVIN, AutoCheck). Information that a VIN can disclose include:

• Vehicle registration
• Title information, including salvaged or junked titles
• Odometer readings
• Lemon history
• Total loss accident history
• Frame/structural damage
• Collision indicators, such as airbag deployments
• Service and repair information
• Vehicle usage (taxi, rental, lease, etc.)
• Recall information

Vehicle history reports not only help car buyers, but also assist dealers in their sales.  Sellers check the history of the vehicle they are trying to sell so they are prepared to answer any questions regarding the vehicle’s background. Dealers often buy vehicle history reports to provide to their customers to ensure the potential buyer that all information about the vehicle is being disclosed. Dealers also run vehicle history reports prior to acquiring vehicles at auctions to help ensure they are obtaining the vehicle at a fair market value.

What started off as just a tracking system, the VIN has become a useful tool in buying and selling cars. The next time you plan on purchasing a vehicle, remember the VIN is a valuable asset, so use it to look up the vehicle’s history and arm yourself with the tools to make a sound purchase.

For more information on VINs, vehicle history reports and the DMV, please visit www.DMV.ca.gov. Save Time. Go Online!

Need a new car or want to refinance the one you have? Check out MCCU’s low rates and apply today!

Let’s face it. The economy stinks right now. But the holidays are upon us and we want to buy our loved ones gifts, entertain, and possibly even travel. As we saw by the recent events at various Wal-Marts and other locations on Black Friday, shoppers are really stressed out and are doing anything they can to get a good deal.

If you’re like most Americans, your shopping list is a mile long, your social calendar is full, yet your patience is thin and your budget is stretched to the max. So what can you do to achieve your holiday shopping goals and stay sane at the same time?

If your holiday mantra is “Bah Humbug!” rather than “Ho Ho Ho”, try these tips to reduce your stress and enjoy the holiday season:

• Relax your expectations. You don’t have to find the perfect present. You don’t have to cook the perfect meal. Your family loves you for yourself, not for your Beef Wellington.
• Let your kids pitch in. They may turn out to be excellent gift-wrappers or table-setters!
• Stick to your budget. Overspending will add to your stress for months or even years to come. See tip #1.
• Plan ahead. Shop early. Watch for sales. Set up a savings account for next year’s expenses.
• Have a car loan? See if refinancing makes sense, and cents (and dollars) in your pocket!
• Potluck! If you’re entertaining, save money, time and stress by making it a potluck!
• Find time for fun. As they say, laughter is the best medicine!

Holiday season doesn’t have to be stressful. Be thankful for what you have, and have fun!

Really?

Most of us can’t afford to buy a loved one a new car for the holidays, let’s get real. Especially a Lexus, Mercedes, BMW… However – there is something you can do for a loved one that involves a vehicle this holiday season. If they already have a car they love, or simply can’t afford a new car, talk to them about refinancing their loan! If their car is, let’s say, two years old – chances are their rate is fairly high, by today’s standards. If they refinanced at a lower rate, they may be able to save hundreds of dollars each month on their payments. What a wonderful gift, especially in this economy!

I’ll give you an example: Billy Jones bought his Nissan Altima in 2009. His rate was 5% when he got the loan, with a 48-month term and an original balance of $25,000. He now owes $13,000 and his monthly payments are $576. If he refinanced his loan now, at a rate of 2.99% annual percentage rate for 48 months, his new payment would be $288, cutting his monthly payment in half!

So how is this a gift, you ask? Maybe your family and friends didn’t realize they could refinance their loan, or just need that little nudge to do it. Show them this example and how much money they could possibly save. I think Billy would be ecstatic to save almost $300 a month!

MCCU has GREAT, low rates on auto loans, PLUS there are no payments for the first 60 days! Give the gift of Refinancing this holiday season – you and your recipient will have a very joyous holiday!

Do you have an auto loan with another lender – a bank perhaps? Would you like to lower your monthly payment? Of course you would. We’ve all been so preoccupied with checking accounts and debit cards that auto loans are being neglected. If you don’t already know your rate/monthly payment on your car loan, definitely find out what they are. You could be saving money!

Matadors Community Credit Union has great deals on new and used (refinances too!) auto loans right now, as low as 1.99% annual percentage rate!* We have other rates/terms as well. Let us quote you on your car loan and see if you can save money with us. Plus, you won’t have to make a payment for the first 60 days!**

Let’s call every day Auto Loan Transfer Day from now on. If you can save money each month, why not switch? Call us or go online and apply. We don’t charge any applications fees, so you have nothing to lose; only money to gain each month!

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* APR=Annual Percentage Rate. Rates as of 10/01/11 and are subject to change at any time. Must meet credit and income criteria. Rate quoted is the preferred rate with a 24-month term. Subject to credit approval and membership eligibility. Sample Payment: $510.44 (based on 24 month new/used car loan, $12,000, 1.99% APR). Other rates and terms available. Restrictions may apply. Existing MCCU Auto Loans not eligible for refinancing. Membership required.

** Interest will accrue from date of funding.

We know that switching your account can be a hassle. That’s why we offer our Switch Kits! Fill out a few simple forms and we’ll do all the work for you!

If your bank is charging fees, just say no and make the switch to MCCU today!

Bank Transfer Day encourages bank customers to move their accounts out of big banks and into smaller banks and credit unions instead. The movement is in response to aggressive fees financial institutions are implementing to recover profits lost from new financial regulations. Why would you give these banks your hard-earned money when you don’t have to? Make the switch!

November 5th is a Saturday – MCCU’s Chatsworth branch is open that day from 9am to 1pm! Come visit us and open an account! We have FREE Checking, FREE Debit Cards, FREE online banking and bill pay, and we are rolling out FREE mobile banking in January! Plus, we are part of the Shared Branch network and Co-Op ATM Network which means you can do your banking at other participating credit unions, fee-free!

MCCU is a $125 million credit union. We are not like a big bank, or credit union, for that matter. We will give you quality, low-cost products and services with exceptional and personable service. Your accounts are federally insured up to at least $250,000, just like the “big banks”. We’re small and strong!

So if you are banking at Bank of America, Wells Fargo, Citibank, Chase, or any other “big bank” that has high account fees, consider switching to a credit union! We’ve also got GREAT rates on Auto Loans, Home Equity Loans and more.

Join the movement, attend Bank Transfer Day and start saving money!

I won’t re-hash what I’ve already written, but I do want to reiterate that MCCU will not charge a fee for our members to use their debit cards. Add to that our already free checking account – such a deal! If you’re local, check us out. If not, find a credit union in your area that also has free checking and debit cards.

Don’t throw away your hard-earned money when you don’t have to.

According to an article on CNNMoney.com:

Flooded vehicles are dangerous because the water damages the mechanical and electrical systems that control safety features. That means anti-lock brakes and turn signals can fail, airbags may not deploy in an accident, or — as in one unfortunate buyer’s case — the entire engine can simply blow up.  Health issues are another concern. Chemicals and filth can get into the seats and ventilation, and can result in a buildup of mold and bacteria.

See full article from DailyFinance.

The best way to avoid purchasing a flooded vehicle is to take it to a trusted mechanic before you buy it. If you are purchasing the car online, find a mechanic who is not connected to the seller and have them check the car out for you.

If you do purchase a used car that is in good condition, finance it with MCCU! We have low rates, no application fees, and no payments for 60 days (interest will accrue)! You can even apply online for  fast response.
Good luck in your new car search – and remember, an informed shopper is a happy shopper!

One of life’s greatest conveniences is the automobile. It can, however, become quite cumbersome when not maintained properly and unexpected expenses arise due to necessary repairs.  All too often, required and preventative maintenance needs can easily fall by the wayside, resulting in a shorter life span for the car.  Unmaintained cars often break down faster than those that receive regular service and care, resulting in hundreds, even thousands, of avoidable repair bills. The California Department of Motor Vehicles would like to offer common maintenance tips that will certainly lengthen the life of your car.

The following represents a list of tips that provide a general overview of basic maintenance. Be sure to check your owner’s manual for more specific directions on how to properly maintain your car:

Belts

Through preventative care for your car, you can reduce the chances of it breaking down and leaving you stranded. Be sure to prevent engine failure by inspecting belts and hoses monthly. Replace worn, glazed or frayed belts. Take your car to a mechanic to tighten them when more than 1/2″ of slack can be depressed between the pulleys. Remember to replace bulging, rotten or brittle hoses and tighten hose clamps in order for your car to operate smoothly. If a hose looks bad, or feels too soft or too hard, it should be replaced. If not replaced, a belt or hose can eventually tear or snap apart which could lead to engine failure and possibly leaving you stranded, with a broken down car, at an inopportune time.

Brake Fluid

Don’t wait for the next time someone stops short in front of you to know if your brakes are working properly. Check brake fluid monthly to ensure your brakes have enough fluid to promptly stop. First, wipe dirt from the brake master cylinder reservoir lid. Pry off the retainer clip and remove the rubber cap or unscrew the plastic lid, depending on which type your car has.  If your car is low on brake fluid, you may not be able to stop immediately, potentially leading to a collision. If you need fluid, add the approved type and check for possible leaks throughout the system.

Power Steering Fluid

No one wants to work harder when they don’t have to and the same goes for your car. To keep your car from being over worked, check the power steering fluid level once a month. If the fluid levels aren’t regularly checked, over time the internal power steering components will tend to wear down and become filled with debris, forcing the power steering pump to work harder than it needs to.  Simply remove the reservoir dipstick to check the steering fluid level. If the level is down, add fluid and inspect the pump and hoses for leaks

Transmission Fluid

Check transmission fluid monthly while the engine is warm and still running – make sure the parking brake is also on. With your foot on the brake, shift to the “drive” position and then back to “park.” Remove the dipstick, wipe dry, reinsert it and remove it again. Make sure the fluid level is above the line marked “MIN,” or as recommended in the owner’s manual. Failure to keep transmission fluid at the minimum level can lead to car problems such as erratic transmission shifts or, at times, damage to the system. If needed, add only the approved fluid type.  Check your owner’s manual for the approved fluid type for your car.

Engine Oil

Check your oil at least once a month. Remove the dipstick, wipe it clean. Reinsert it fully and remove it again. You should be able to easily see the level of oil on the dipstick. If it is low, add the recommended oil type. The performance levels are dependent on the type of oil used.   To maintain peak performance, refer to your owner’s manual for the manufacturers recommended mileage for oil changes.  Manufacturers typically recommend an oil change at 5,000, 7,000, or even 10,000 miles, depending on driving conditions. Replace oil filter with every oil change. Changing the engine oil in a car will keep the engine clean and lubricated; if ignored it could lead to an engine failure.

Smog

Going green has been the new trend and it applies to your car , too. Don’t get caught driving an environmentally hazardous vehicle. Cars registered in areas subject to the biennial smog certification programs are required to submit evidence of a smog certification every other renewal period. Owners of cars six or less model years old will pay an annual smog abatement fee for the first six registration years instead of being required to provide a biennial smog certification. The registration renewal notice mailed to you by the Department of Motor Vehicles will indicate if a smog certification is required. If a smog certification is required, and you have not had a smog inspection, you may still pay your registration fees to avoid any late fees. However, you will not receive your new registration or year sticker until the smog information has been received by the DMV. It is important to get smog checks to assess your car’s emission levels. Cars with excessive emissions are required to be repaired before returning to the road. For more information on smog checks and where to find a smog test station nearest you, check our website www.dmv.ca.gov

As you squeeze in that last summer or fall road trip, be sure to keep up the maintenance of your car to ensure that you will reliably, and safely, get to your destination. The DMV recognizes that some people may be less car savvy than others.  Auto repair shops and other businesses in the auto industry can assist you with the upkeep of your car. A well-maintained car will last years beyond its life expectancy and save you money over time. Remember to check your owner’s manual for specific maintenance needs and visit our site, www.dmv.ca.gov to watch videos about car maintenance.

If you need a new car, or simply want to refinance your well-maintained car, contact MCCU for a low-rate, no application fee auto loan! And, you won’t have to make any payments for the first 60 days (interest will accrue)!