The Bottom Line
Small business is important to Central Oregon, and to Mid Oregon. Find tips and resources for business, and information about Mid Oregon’s commercial services and business members.
5 Tips for Getting the Best Deal on a New Car
So you’ve found the perfect car. You’ve shopped around, and this car has your name on it. Well, not quite yet. Not if you want the best deal anyway.
Here are five simple things that can help you afford the car of your dreams:
Get Preapproved
1. Go to your credit union and get preapproved for an auto loan. Because credit unions are not-for-profit, and owned by their members, you can get better borrowing rates. Plus, knowing exactly how much you can spend, your interest rate, and what your monthly payment will be really gives you confidence when sitting across the desk from the salesperson. Contact Mid Oregon first, at (541) 382-1795, email to info@midoregon.com or visit one of our seven convenient Central Oregon branches.
2. Shop on a week day, at the end of the month, and even better at the end of the year. Yes, if you can slip out of work on a weekday when there aren’t a lot of potential buyers in the place; the dealership will be eager to make a deal. At the end of the month, dealerships will be trying to hit their monthly sales goals, and you can take advantage of that situation. And, if you can hold off ‘til the end of the year, most dealerships are trying to unload inventory, that’s a great time to buy!
Know Your Price
3. Price check. You’re on-line anyway, so check out Edmunds, CUDL Autosmart or Kelley Blue Book. These sites have amazing stats that can help you figure out the dealer’s wholesale cost—that’s the price the dealership would pay the car manufacturer. Also, shop around to find out how other dealers are pricing your make and model.
4. Stick to the price of the car. Don’t get pulled in another direction with options for add-ons, trade-in value or a lower monthly payment. You can negotiate those things after you’ve confirmed the price of the car—that’s the number you should be negotiating. Everything else is a distraction.
Self Control
5. And if the price is still too high, don’t be afraid to walk away. Even if you believe this car is perfect, be prepared to let it go, and don’t look back. If you’ve followed these tips, you’ll know if it just wasn’t meant to be anyway. And when it is meant to be, Mid Oregon Credit Union will still be there to give you a loan you know you’ll be able to afford.
Community Connections
Presidents Message: Community Connections
The team at Mid Oregon heads into the second quarter of 2019 engaged and ready to help our members achieve their financial dreams. We’ve seen consistent growth in new members, checking accounts and loans, while our updated deposit options have helped more members meet their savings goals.
As the seasons shift from winter to spring, the other big focus at Mid Oregon has been our commitment to serving our community. As the only financial institution headquartered in Central Oregon, we know you expect us to lead the way in efforts to make life better for our friends and neighbors, in building community connections.
Investments in Central Oregon
That’s why we were the first to pledge $50,000 to fund the new St. Charles Patient Tower, opening later this month. The timing of our gift ensures it will be matched by the Tykeson Family Foundation if the fundraising goals are met. We hope that other organizations follow our lead in supporting this vital community resource.
We know our members mirror our dedication to this community. A great example is the record-smashing total for this year’s Adopt-A-Bear branch fundraiser. Mid Oregon members are very generous—especially when it comes to the health and well-being of our community’s kids. Thank you for your support.
A Bite of Reality
Mid Oregon is also excited to lead the way in offering financial-literacy education. Later this month, our team and the Northwest Credit Union Association (NWCUA) will host the first “Bite of Reality” budgeting event at La Pine High School. We hope this is the first of many more opportunities to help local students develop smart money-management and budgeting skills.
Finally, let me be the first to welcome you to our new, updated member newsletter! The Mid Oregon Vista includes the announcements, news, and events you’ve come to expect, in a more colorful and easy-to-read format. You’ll continue to receive it in your mailbox four times each year.
Thank you for being a part of the Mid Oregon family!
Understand Your Summer Paycheck
Ever wonder what happens to the money in your paychecks from your summer job? You’ll soon find out that you’re not the only one who has claims on what you earn! It’s important that you understand your summer paycheck.
Why Don’t You Get All of Your Earnings?
Example: You work 25 hours over a two-week pay period. Your pay is $10.50 an hour. You figure you should see $525 on your paycheck, right?
Sort of. But not in your pocket. There’s a big difference between gross income—or your hourly rate times the hours you work—and net income, or your take home pay.
What Are Deductions?
Your gross income is reduced by deductions. Look at your pay stub—the earnings statement—attached to your check. It includes:
• Your identification information
• The dates of the pay period
• Your gross income
• All your deductions, which include taxes and FICA
• Your net income
How You Can Increase Your Income
You can’t control the paycheck deductions, but you can do two things to raise your pay, one for now and one for later:
• For now—Keep your eyes open for opportunities to take on more responsibility. If you’re enthusiastic about your job and do it well, your boss may promote you. Even if that doesn’t happen, you’re developing skills that could lead to better pay in your next job.
• For later—Make smart decisions about your education. Staying in school increases your chance of earning more money in life.
How You Can Prepare For The Future
As you look to future classes, look for ways to earn extra credit, take advanced placement courses, form good relationships with your teachers, and volunteer for school events. All of these can get you good grades, a possible career experience, and excellent letters of recommendation for college.
Want more money now? Save some. Come in to Mid Oregon Credit Union to set up a savings account and learn how to manage your money.