Car Buying

Thinking Beyond the Test Drive

Buying a vehicle is one of the biggest financial decisions many people make, especially if it is your first time. Understanding the full cost of vehicle ownership can help prevent costly surprises and set you up for long-term success. A car is more than its sticker price. Monthly payments, insurance, maintenance, depreciation and future life changes all matter.

Before you start shopping, determine your budget and how long you want your payments to last.

If paying cash isn’t an option, getting pre-approved for a loan through your credit union is a smart first step. A pre-approval gives a clear picture of how much you may be able to borrow so you can shop with confidence and avoid shopping outside your price range. Down payment requirements vary by lender and depend on factors such as credit history, vehicle type, loan amount and LTV (loan-to-value). LTV compares the amount you’re borrowing to the vehicle’s actual market value. If the purchase price is higher than the value, you may need to make a larger down payment.

Auto loans typically range from 60 to 72 months, though terms can be shorter or longer. Longer terms may lower your monthly payment but increase the total interest paid. A down payment can help reduce both your payment and overall interest costs.

Leasing is another option. Leasing often offers lower monthly payments but does not provide ownership or equity. Leases typically include mileage limits, customization restrictions, and upfront costs, while a loan allows you to build equity that can be used for a trade-in or future down payment.

The loan payment is just one part of the picture. Be sure to account for additional costs such as the title, registration, taxes, and any additional options you may choose, such as a Route 66 Extended Warranty and other vehicle protections offered by Ascentra.

In addition:

Fuel expenses can also add up, especially if you have a longer commute.
If you are financing or leasing, insurance is required, including premiums and deductibles. To fully understand the cost of ownership, it’s important to request insurance quotes before buying.
Maintenance and repairs are a key part of vehicle ownership. Routine services like oil changes, tires, and batteries add up, and unexpected repairs can happen. Planning ahead helps reduce stress.
Consider how your life might change in the next five years, is the vehicle you’re considering big enough to grow into? Will it tow the boat or camper you hope to buy someday? We ask this because depreciation matters: many cars lose significant value early, and if you re-sell too early, you may owe more than the vehicle is worth, which is why used vehicles may offer better value.

Always go for a test drive, check for recalls, review vehicle history reports and watch for rebuilt or salvage titles. Taking time to research helps protect your investment.

Buying a vehicle is about more than transportation. It is about choosing something that fits your budget, lifestyle, and future. Ascentra Credit Union is here to guide you every step of the way so you can drive forward with confidence.

Before you head to the dealership, learn more about Ascentra's vehicle loan options or talk with our team to learn how we can help you establish a budget and get you pre-approved, giving you the confidence to be the negotiator.

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How Does Gas Price Impact Your Summer Vacation

Jun 30, 2026

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Make Summer Travel More Affordable

June marks the start of summer vacation season, but this year’s travel planning is happening in a vastly different economic environment. With inflation still pressuring household budgets and gas prices climbing across much of the U.S., many families are taking a closer look at what a trip will really cost before they pack the car. The good news? A few smart choices before you leave, and along the way, can help keep more money in your pocket.

Get the Most from Every Fill-Up

Rising gas prices are one of the most noticeable ways the economy affects daily life. As summer demand increases, even routine road trips can feel more expensive before they begin. Federal tracking showed the U.S. average at about $4.50 per gallon in the latest update, while AAA’s daily average recently moved above that level. That means efficiency matters more than ever. Start with the basics: check your tire pressure before you hit the road, remove heavy items you don’t need, and avoid rapid acceleration and hard braking. Maintaining a steady speed and using cruise control when conditions allow can help improve fuel economy over long drives.

Also consider timing and routing. Planning your fill-up stops before you leave can reduce last-minute, high-priced purchases near tourist areas. Gas price comparison apps such as GasBuddy or Mudflap can help you find lower-priced stations nearby and along your route.

Understand the “Hidden” Costs of Fuel

When fuel costs rise, they don’t just affect your drive, they can influence prices throughout the travel experience. Higher energy costs often ripple into airfare, lodging, food, and entertainment, which is one reason many consumers are feeling stretched in today’s economy. Recent inflation data showed overall prices rising 3.8 percent year over year, with energy going up sharply and gasoline going up even more. A simple strategy is to prioritize what matters most: set a daily spending target for fun extras, look for bundled attraction passes, and consider free or low-cost local options such as parks, festivals and community events to balance bigger-ticket activities.

How Ascentra Can Help

If you’d like added flexibility for summer plans, Ascentra Credit Union offers options that may help you manage cash flow. A personal loan can be a way to cover planned expenses, like a family trip, with predictable payments. Prefer to plan ahead? A club savings account can help you set aside money throughout the year for seasonal spending. And if an unexpected expense hits at the wrong time, Skip-A-Payment may allow eligible members to defer a loan payment (processing fees and restrictions apply).

Bottom Line

Every trip has its own challenges, but a little planning can go a long way. Map your route and fill-up locations, use available tools to compare prices, and practice fuel-smart driving habits. Whether you’re traveling far, staying close, or enjoying a staycation, Ascentra is here to help you make summer more affordable, and more enjoyable.