Tag Archives: 2012

Bayside Chrysler Jeep Dodge’s Military Incentive Program

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militaryWe have a special offer for the men and women risking their lives for us on a daily basis. If you’re an Active, Active Reserved, Retired Military or Retired Military Reserve, then you are are eligible for up to $500 in bonus cash under our Military Incentive program. This offer is for 2012 model year vehicle purchases and leases on all new vehicles.

To see the full details of the program, including restrictions, visit our website or contact us at the dealership.

*Excludes SRT models, Viper & Fiat Abarth

 

The Cars That Sub-Prime Borrowers Are Buying

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Dodge AvengersQuick question: what cars are sub-prime borrowers buying? The answer may be surprising.

Carfinance.com wanted to know this very answer. Rather than following my example and randomly asking the internet, they put together data between October 2012 and March 2013. What the conclusion they found in that window of time was that the people who make their auto purchase as sub-prime borrowers are buying completely different cars than those in the top-selling slots.

The top three selling midsized sedans in the US is the Toyota Camry, Honda Accord, and the Nissan Altima. These three didn’t even break the top ten for sub-prime. So what was on the list then?

Topping it was the Dodge Avenger followed by the Kia Forte and Kia Optima in second and third respectfully. It’s clear from looking at the full list of the top ten that people suffering from credit issues and other financial complications are looking for small or midsized sedans. At least in the new category they are.

Used tells a different story. The top seller in that time period was the Ram 1500. The Dodge Charger came in at the fourth slot. A wide range of vehicles are on the list, but trucks were more numerous than on the new list.

Are you having credit issues and are looking to purchase a new or used vehicle, such as the Avenger or the 1500? Contact us at Bayside Chrysler Jeep Dodge. We love to say yes! We’ll work with you to put you in the car best suited for you. Don’t forget to like and follow us on Facebook as well as Twitter.

Auto-Loans Market Healthy Despite Rise in Delinquencies

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ID-10056516Today, Experian released their analysis of the current automotive credit trends for the fourth quarter of 2012.  What they found was very interesting considering the upward state the industry has been in as of late.

For the first time in quite a while, there was a rise in delinquencies.  Being late by 60-days increased from the same quarter in 2011.  It rose from .72 to .74 in Q4 of 2012.  That kind of increase in loan delinquencies hasn’t occurred since 2009.

Still, Experian assures that it’s nothing to worry about.  “Overall, our Q4 analysis shows that the auto lending market is extremely health,” said Melinda Zabritski, Experian Automotive’s direct of automotive credit.  “Of course you never want to see an increase in delinquencies, but when you take a step back and look at the market compared to where it was three years ago, we still have remarkable stability.”

A way to look at this increase is due to more loans being issued.  When the finical crisis hit, banks reeled in their lending in fear of the market.  Now that things have finally rebounded for the better, banks have reopened that door and are letting people in.  There’s been a rapid increase in the amount of people asking for a receiving auto loans.  In fact, the market of auto-loans has been one of the fastest growing parts of consumer-finance recently.

Interested in getting an auto-loan for a vehicle?  Contact us at Bayside Chrysler Jeep Dodge and find out how we can help.  We love to say yes!  Browse our new and pre-owned inventory online.  Like us on Facebook and follow us on Twitter for more news and monthly offers.