Tag Archives: 21219 Northern Blvd.

Mistakes to Avoid for a Better Credit Score

Posted on by
Reply

Credit problems shouldn’t mean you don’t get the loan necessary to get a car. At Bayside Chrysler Jeep Dodge, we want to make sure that you come in and drive off with what you need. One way of doing that is to provide some tips on how to get your credit issues under control.

Auto Credit Express has a break down of the three biggest mistakes that people with credit problems make. If you’ve found yourself wonder just how your score got so low, chances are pretty good that you have fallen victim to one of these traps.

You may be paying your bills late. If you are, that can be damaging to your FICO score in a very negative way. Getting your billing situation under control to make sure you’re not being overwhelmed can go a long way in helping.

Another mistake you may be making is that your credit card balance is too high. When a lender checks into your credit, they don’t like to see your balance maxed out. You should be using around 30 percent or less of any credit lines. It’s a huge red flag if lenders see too much debt.

Applying for the same kind of loan, be it home or a car loan, in a small amount of time are seen by the credit companies as a single instance in most cases. When you start applying for variety of different credit types, however, it can impact your score.

If you can avoid making these three mistakes, you’ll find a better credit score at the end of the road. If you’re suffering from credit issues but need to get yourself in vehicle, contact us at Bayside Chrysler Jeep Dodge. We love to say yes. Like us on Facebook and follow us on Twitter for more credit tips and other auto news.

Tips to Improve Your Car Buying Experience

Posted on by
Reply

Have you been holding out on getting that car you’ve been needing? A large number of drivers have been afraid of going into the dealership due to the recession. They’ve been trying to drive every single mile out of their current vehicle wanting to avoid purchasing a new vehicle because of money and poor credit. For many of those people, that wait can’t go any longer. There’s just no more life left in the old ride. It might be time, but that doesn’t mean you have to be afraid of what your credit score may lead to. We have some helpful tips to help you get the best deal possible.

Have a poor credit score? Time to give it a boost. The higher your score, the lower the interest you can expect. That means you need to take the time to review your score. Make sure that having an inquiry on your report won’t bring it down even more. It may take you sometime to get the undesirable material taken from your report, but it’s well worth the time. Having your score show improvement can make a great difference in what your rate is.

Another method that leads to a much better rate is to increase your down payment. Having more money right up front shows that you’re less of a liability. In case you’re wondering, the industry standard for a down payment is 20 percent of the purchase price. An example is if you’re purchasing a vehicle for $25,000, then the down payment will be $5,000. The more you’re willing to put down at the time of purchase will be beneficial when you need leverage to negotiate for a lower car loan rate.

What about if you’ve done all the homework prior to going in and just can’t find the finances for a new car? You may want to look into leasing a vehicle. Leasing means that you’re not buying the car. That means your rates are more likely going to be lower than if you bought. Another plus of going the route of leasing is that contracts usually only last for 2 to 3 years. When the term is finished, you can go into the dealership and lease a newer vehicle.

Any and all of these tips can lead to a much better buying experience. Make sure that you contact us here at Bayside Chrysler Jeep Dodge. You can view our new and pre-owned inventory online. Like us on Facebook and follow us on Twitter for more tips and deals.

New Cars Remain Affordable!

Posted on by
Reply

New car buyers have some great news for when they decide to head into the dealership. According to a new report, the affordability of new vehicles is stable.

Auto Credit Express breaks down a second quarter report from Comerica Bank. The report is known as the “Auto Affordability Index.” What it does is compare the median income of a family in the US to the price of an average-priced car. They then find out how long it’s going to take to pay-off that cost. This is where the good news comes in for the consumer. On average, it’s going to take that family 22.9 weeks to finance their vehicle. This is about the same that it was in first quarter of 2012. Translation, the prices of new cars remains the same.

New vehicles are continuing to be affordable, which is some great news for people in the New York area. The disaster of the hurricane still remains and numerous people are needing to get cars to replace those lost. We here at Bayside Chrysler Jeep Dodge have a saying that we live by and that’s “We Love to Say Yes.” Need to replace a lost car or just in the market, contact us with your application and we’ll help you get that car you need.

Like us on Facebook and follow us on Twitter to stay up to date on financial tips and other offers at the dealership.