Understanding How Bad Credit Affects Auto Loans

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One of the hardest parts of purchasing a vehicle is knowing where to even start.  It’s something that no one really ever teaches.  Education on getting a loan is something everyone should have to get consider that an auto loan is an important part of anyone’s life.  Here’s some advice on getting an auto loan and getting the best deal.

We’ve spoken about it before here, but knowing your credit score and what is on your credit report is vital.  Know your score and know if there is any bad credit dragging that score down. Look into getting it removed because if you can, it’ll help a great deal when it comes time to calculate a loan.

Make sure you understand the advantage of putting down a large down payment.  Down payments may not be necessary but there’s a lot of good that can come from being ready for one anyway.  A larger down payment at the time of purchase can lower the monthly payment.  It’s also helpful for people struggling with bad credit to obtain a loan.  Look over your finances and see what you could comfortably put down as a down payment.

Getting back to the bad credit, one aspect of an auto loan that is a great benefit to someone with bad credit is what it can do for your credit score.  So long as you pay your loan on time and with the proper amount, you’ll see a hasty turn around to the credit score.  Keep paying on time and when it comes time to trade in for a newer vehicle, you’ll have an easier time thanks to the improvement in credit score.

There’s still plenty of areas we didn’t cover.  Do time to research the subject and be aware of your personal finances, including credit score, and you’ll have a much easier time at the dealership.

If you need any aid in finding the right auto loan for you, then contact a sales rep at Bayside Chrysler Jeep Dodge.  We’ll work with you to find the right loan for the right new or pre-owned vehicle that suits your lifestyle.  We love to say yes!

Bayside Chrysler Jeep Dodge Text Messaging Service

Bayside CJD SMS Service

Attention Bayside Chrysler Jeep Dodge Ram Customers.  We are pleased to announce that we can now communicate with you via text messaging!

By opting into our text program, our Service Department can notify you when your vehicle is ready for pick up after being serviced, remind you of necessary maintenance and service for your vehicle, or advise you of important recalls. Utilizing text messaging not only gives you real time notifications, but means you have one less phone call to worry about.

To opt in to this feature, text “Subscribe 43692 ” to 30629. Message & Data Rates May Apply. Up to 10 msgs/month. Text STOP to 30629 to cancel. Text HELP to 30629 for info.

Also, next time you visit our Service Department, be sure to add your cell phone number to your customer record for future text messages.

If you have any questions about our text program, give us a call at 718-229-8700 or email us atkatiem@baysidecjd.com.

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5 Tips for New Car Buyers

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Read enough auto finance blogs and you’ll find that the majority concentrates on how to obtain that auto loan.  It’s tips and tricks on how to make yourself look the best when walking into the dealership so that you’ll drive away with the best possible loan.  What you won’t find in abundance is ideas of how to deal with the vehicle once you have the loan and the car itself.  That’s why it was refreshing when the Money section of US News ran an article showing the top five bad habits that drivers do that costs their new car value, something that’s important to have further down the road when it is time to trade in and trade up for another car.  So here they are, the five things you want to avoid with your new car so you’ll get the best possible value.

1) Riding Dirty

This translates to simply being clean.  While I am certainly not the beacon of cleanliness when it comes to a car, there’s an advantage for making time to make your car looking pretty.  The biggest reason is not just to look nice, but because that dirt that accumulates on the outside can lead to serious problems later on, especially when it starts to clog into your engine.  The writer got advice from a mechanic and made sure to mention not to open the hood and spray the engine with a hose, but to use a wet rag to wipe dirt from the hoses.  Bringing in a clean car, especially one with a well maintained engine, will lead to great offers come trade-in time,

2) Driving Hard

This is the hardest thing not to do after seeing a Fast & Furious movie.  We all dream of being a race car driver or being involved in some high-speed chase, but that’s best left to the fantasy and not in the car.  A new car needs some loving car for the first time out and having a lead foot can be an issue.  Being nice for the first thousand miles can be a real benefit later on.

3) Customization

This one should come with a disclaimer.  Not all mods are created equal and thus not all are harmful to your vehicle.  If anything, it should be a call for such things to be handled by professionals and not the kid down the street who found a spoiler online for twenty bucks.  Be mind-full of what you’re attaching to a new car and make sure it works with the warranty.

4) Not Keeping Records

This is another one I will have a hard time not sounding like a hypocrite on.  Keep track of what service you have done on the vehicle.  Should you ever want to sell to a private party, having such records will be a massive benefit for figuring out value and for the person buying.

5) Seeking Service from a Stranger

This goes back to the customization bit.  Again, make sure you know that the person working on your car, be it to fix something with the engine or putting on an extra mod, knows what they are doing.  Leaving it to the professionals is always a good thing to be safe about, especially when it’s on something as important and expensive as a new car.

There you have it, some great advice for people who managed to land themselves a spiffy new car and want to treat it right.  Most of this is common sense, but it’s always nice to be reminded of the responsibility that will ensure that your vehicle will be worth the best amount when it’s time for trading in.

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