From October 20th to the 23rd, take advantage of this amazing deal we’re running at Bayside Chrysler Jeep Dodge. For 4 days only, put $19 down towards a vehicle and then you can make the payments. Contact us at the dealership right away for this special offer before it expires! We love to say yes!
One topic that doesn’t get touched on often is refinancing. So much effort is put into simply receiving the necessary loans for acquiring the car that the next step is seen as so far away so little planning is put into it. Refinancing is something that should be ever present in the mind of a autobuyer, especially one that has bad credit and is using their auto loan to help improve their situation.
Now does seem like a good time to look into refinancing. Auto loans are at record lows. However, there are things that should be considered before jumping in. Ready yourself for refinancing by asking these useful questions, courtesy of Mariniji.com.
How is the interest compounded on your latest loan? As the article states, “If the old loan is based on precomputed interest, most of your payments are applied toward interest during the first half of the term of the loan with little effect to the principal balance. Namely, the amount you still owe the lender.”
Does the new loan lender charge processing fees?
Has your credit improved to get the advertised low rate from the lender?
There’s plenty more questions to consider when you’re looking to refinance a loan. Take a look at the full article for more information. If when you’re done looking over the numbers and find yourself able to refinance your loan, it’s a great time to do it.
If you’re looking for help getting an auto loan, contact a sales rep at Bayside Chrysler Jeep Dodge. We operate in the Bayside Queens area of New York and work with customers to find the right new or used car to suit their lifestyle. Like us on Facebook and follow us on Twitter for more tips and auto news.
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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!