Quick Summary: Saving for a car means thinking beyond the sticker price. It involves planning for the full cost of ownership and making smart choices along the way. With the right strategy, you could save thousands in the long run.

If you’re thinking about buying a car, especially in today’s economy, preparation is everything. From understanding your budget to knowing where to buy, learning the ins and outs of saving for a car can help you make a confident, cost-effective decision.

Know What You Can Afford

Before you start browsing listings, it’s crucial to set a realistic budget. Consider more than just the sticker price –  factor in your down payment, monthly loan payments, insurance, gas, maintenance, and registration fees. A general rule of thumb: aim to put down at least 20 percent on a new car or 10 percent on a used one to help avoid negative equity.

Not sure how much car you can afford? Use an Auto Affordability Calculator to estimate your budget before shopping.

Start Saving Strategically

Once you know your target down payment, break it into manageable monthly or weekly savings goals. At CCCU, you can grow your savings faster with options like high-yield deposit accounts for easy access. The credit union offers money market accounts for higher returns with flexibility, or a certificate of deposit (CD) if you’re wanting to lock in a rate and save on a set timeline. 

Each option helps you earn more than a regular savings account while staying aligned with your goals. Automating your deposits into one of these accounts can make saving consistent and get you closer to your new car even faster.

Check Online Listings

Knowing what kind of car you want before you start shopping can make the entire process smoother, especially since most dealerships now post their full inventory online. Doing a little research ahead of time helps you stay focused, shop smarter, and avoid unnecessary pressure.

Here’s something many local car shoppers don’t realize—CCCU is the only credit union in Southern Nevada that owns a car dealership. With Members Auto, you’ll get competitive pricing, honest guidance, and a low-pressure buying experience without the typical dealership stress. And the best part? You don’t have to be a CCCU member to buy a car with Members Auto!

Secure the Right Auto Financing

While dealerships often offer in-house financing, you’ll usually find better rates through your trusted financial institution. CCCU offers preapproval options, giving you negotiating power and a clear understanding of your budget before you even visit the lot.

And if you choose to shop at Members Auto and finance your vehicle through CCCU, you’ll enjoy exclusive member savings on your auto loan—adding even more value to your purchase.

Let’s Find Your Next Ride—Together!

Saving for a car doesn’t have to feel overwhelming. With the right plan and the support of CCCU, your next car is closer than you think. Call 702-228-2228 or visit www.CCCULV.org to get started and explore great deals at Members Auto.