Author Archives: baysideadmin

2014 Set to be Positive Year for Industry According to Dealers

Posted on by
Reply

ID-10032918

2014 is starting out with an optimistic outlook for dealerships. Many are looking to this year continuing an encouraging trend for the industry as sales and loans are expected to increase.

According to Ally Financial who did a survey at the 2014 NADA Convention and Expo in New Orleans of auto dealers showed that they had a positive outlook for the upcoming new year. The majority of those surveyed expected more than a 10 percent increase over the previous year.

When asked further as to why they are having such positive expectations, the reasoning is that the dealers believe that sales will be sustained through consumer confidence. Other key factors that were identified as to why is due to aging vehicles and fleets, economic policy, and incentives. 75 percent of the dealers believe that an increase sales of F&I products will lead to an increase of sales as well as vehicle service contracts, maintenance, and GAP products.

What the consumers can expect to see in 2014 is an increase in social media. 76 percent of the surveyed dealers indicated that they will be taking more advantage of social media and using it to reach out to new and existing customers.

We’re already doing that at Bayside Chrysler Jeep Dodge with our mobile app. You can download it to schedule a service appointment or to see the status of your vehicle already in the shop.

Be sure to contact a sales rep at the dealership to set up a time to come in and discuss getting financed for a new or pre-owned vehicle. Be sure to like us on Facebook and to follow us on Twitter for more specials and news.

 

Image courtesy of jscreationzs / FreeDigitalPhotos.net

Bad Credit Auto Loan Advice

Posted on by
Reply

ID-10088178

Bad credit is a term that is has many different meanings and one thing that it doesn’t mean is that everything is over. Having the label of ‘bad’ attached to you doesn’t mean that you might as well stay at home rather than try to get an auto loan. Like I said earlier, just because you have ‘bad’ credit doesn’t mean that you have credit that will keep you from getting a good loan. Bad means many things and here is some advice on how to get an auto loan even with bad credit.

First tip is not to trust the people who tell you that your credit is bad. Find out your score for yourself. Get a hold of your credit score with Experian, Equifax, and TransUnion to see your credit score and to see how bad it really is. Keep in mind that there are a lot of variables that change the ability to get credit. Even bad credit with a long history can still work compared to someone with good credit and no credit history.

Another tip is that when you’re finally ready to go in for a loan, it’s better to take a longer look at the terms of the loan and not the monthly payments. Sure it would be nice to pay a lesser amount, but sometimes it’s a much more financially beneficial boon to get a vehicle paid off as early as possible. Plus, a loan is better overall if it requires more money each month but has the lowest APR.

The last tip for this piece is to have a cosigner available. The best choice is someone close, such as a relative. Be careful with this one though as cosigner on a vehicle is a sign of trust and one that you need to be careful about.

If you have any more question about find the right auto loan for your lifestyle, contact a sales rep at Bayside Chrysler Jeep Dodge and we’ll work with you. We have a wide variety of new and used vehicles to choose from. Be sure to like us on Facebook and to follow us on Twitter to see more tips and advice on auto loans.

What Auto Buyers Should Know

Posted on by
Reply

ID-100215036

We provide plenty of tips for people looking to get an auto loan and the bulk of the tips are preemptive ones. The kind of things that a person should understand before even stepping foot into the dealership. Forewarned is forearmed in the loan world. However, there are other things to bear in mind after it is all said and done, when the driver gets out with the car and the auto loan. In an interview with Millionaire Corner, personal finance expert Liz Weston gave some tips on getting the most from an auto loan.

One of the biggest aspects she takes umbridge with is that owners are wasting a lot of money by getting a new vehicle while still owing on an older one. “Falling in and out love with cars and exchanging them is one of the most expensive things you can do,” Liz Weston says. “(The reason) people having trouble making ends meet often is that they’ve spend too much on their housing or what is sitting in their driveway. Get a good deal and hang.”

This idea does play against the way we think of buying cars. It is easier said than done to try and ignore this notion of getting a new vehicle when each year the auto industry is plastering ads of the brand-new models.

Liz Weston advice falls more on the side of being ready. Someone who is constantly getting a new car while owing isn’t doing a good job of planning ahead and being aware of what they can afford. Her other advice is things that we have mentioned before.

Know your credit score. The repetition of this piece of advice is there for a reason, because this score has such a huge impact on an auto loan.

Read the full interview for more tips from Liz Weston.

If you need help with an auto loan, then contact us at Bayside Chrysler Jeep Dodge. We’ll work with you to find the right new or used vehicle for your lifestyle. Be sure to like us on Facebook and follow us on Twitter for our monthly specials and more tips.

 

Image courtesy of Stuart Miles / FreeDigitalPhotos.net