Tag Archives: approved

Used Car Prices Are Lower Than Ever, And There Is A Good Reason Why

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Did you know that when new car sales go up, prices on used cars go down? It’s true! In 2014, new car sales were up, and there were more affordable used cars for all price ranges. The reason is that most people purchasing new cars were trading in their last cars to put towards a down payment, and as a result, there is a better variety of cars available for smart shoppers.

The good news is that new car sales are continuing to hold strong so far in 2015. According to CNN Money, car sales are the best they have been in almost a decade, and it is showing no signs of slowing down. This means that more used cars will be hitting the market soon, and with low, low gas prices, owning a car is cheaper than it has ever been.

At Bayside Chrysler Jeep Dodge, we want to help you make your dream of owning a great car a reality, and we will work with you to find the right car to fit your needs. You can get pre-approval, check out our monthly specials, and shop our online inventory by make, model, and year. Click here to visit our website today, or stop by and visit us in person at 21219 Northern Blvd in Bayside, NY. You can also get our latest deals and news by following Bayside on Twitter and Facebook and subscribing to our YouTube channel!

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Understanding Auto Loans

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Auto loans are not something that people are familiar with in terms of the process.  Most people come in and cross fingers hoping that the stars will align for a fantastic auto loan rate.  Most of the factors that go into determining a person’s auto loan are an unknown quantity to most people.  Here is a list of just some of the things to take into consideration when wondering what your auto loan rate may be.

Your credit score is at the top of the list.  Understanding the score and knowing it are vital to the process.  A high credit score opens a lot of doors and enables you to possibly qualify for a great auto loan rate.  Getting that high score can be tricky, but paying off monthly bills and loans on time is a major part of helping that work.

Another way to raise a credit score is to be vigilant about the information present on the score.  This is why it is recommend on going through your credit score on a regular basis.  Look it over and see if anything is being misreported or just shouldn’t be there.  Any and all harmful information present on a credit score is most likely going to negatively affect you.  So get it off of there.

Down payments can be a major impact on getting that better auto loan rate.  While there’s no magic number, the higher the cash you can put up front towards a vehicle, the better.

There’s plenty more factors to consider with regards to auto loans, but these are two very important ones to be aware of.  Educate yourself and be ever mindful of your credit score, and the car buying experience will be that much better.

If you need help with financing, contact us at Bayside Chrysler Jeep Dodge.  We’ll work with you to find the right possible loan to suit your situation.  We love to say yes, you’re approved!  Like us on Facebook and follow us on Twitter to see our monthly news and special offers.

Tax Liens: How Unpaid Taxes Will Hurt Your Credit Score

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ID-10034355The deadline for filing 2013 Federal Tax returns is April 15, only a few days away, and while some people have already made plans for how they will spend their tax refund, others have yet to file their return or are still making payments.

Most advice for improving or maintaining a good credit score tends to focus on credit cards, auto loans, and mortgages, but a tax lien can hurt a credit score significantly. The IRS will report non-payment of taxes to the credit bureaus, and tax liens are listed on credit reports under public records.

Tax liens can drop a credit score by 100 points or more depending upon the amount owed and the number of tax liens listed on the report. Someone who hasn’t paid their taxes in several years will have their payments owed listed separately for each year, and it reflects poorly on the consumer if they apply for a loan, a credit card, or another form of credit.

How can you avoid a tax lien? First, work out an installment plan with the IRS and file for an extension if need be. They will look over your finances and determine how much you can afford to pay. Second, stick to your payment plan. Do not miss a payment. If something changes in your financial situation and you think you will miss a payment, contact the IRS immediately. By missing a payment, you are violating the goodwill extended by the IRS in working out a payment plan, and you will have more worries than a damaged credit score.

Do you have poor credit or no credit? Obtaining an auto loan can be tough, but it is achievable. Contact a sales person at Bayside Chrysler Jeep Dodge and find a time to come in so we can work with you to find the proper loan. We’ll get you driving away in the new or pre-owned vehicle best suited for your lifestyle. Be sure to like us on Facebook, follow us on Twitter, and subscribe to us on YouTube to see our monthly specials.

Image courtesy of renjith krishnan / FreeDigitalPhotos.net