Tag Archives: auto loan

Memorial Day Auto Buying Advice

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Memorial Day is seen by many as the real start of the summer. The warmer, rainier weather is here and it is the beginning of many planned trips and vacations. It is also when many dealerships offer many great deals on their vehicles. That makes it an excellent time to think about getting into a dealership and driving off with that needed vehicle. However, Auto Credit Express is offering some advice on how to make the most on the savings during Memorial Day.

One such piece of advice is knowing what you can afford. Having a firm understanding of one’s finances is what can lead to the best possible outcome when purchasing a vehicle. It will allow you to narrow your search on which cars are within your budget. It also helps to know what you can spend each month on a vehicle. This goes hand-in-hand with being realistic about what you can get. We all dream of driving that brand-new Viper, but not all of us can manage that. For now, know what you can afford.

A big way to make the purchasing of a vehicle easier is to have a down-payment or a trade-in. A down-payment is capable of greatly reducing the monthly payments for a vehicle. The more that you can put down, the better off you will be.

Bayside Chrysler Jeep Dodge is offering some amazing deals this Memorial Day. Follow this advice and you will find yourself having the best possible car buying experience. Contact us at the dealership and we’ll walk you through the process. Be sure to like us on Facebook and to follow us on Twitter to see our monthly deals and holiday specials.

Down-Payments and How They Help

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One of the biggest problems that auto buyers are facing at the moment is aging vehicles. The average age of an American vehicle is currently 11.4 years. That is just insane. I’m not saying it doesn’t make sense though as the economy and the job market has been hard on people needing new cars. Many people have had to get by on what they could. This meant that they were holding onto a vehicle longer than they wanted to. Now that the market has improved and financing is easier than ever to obtain, many are finally in a position to get rid of their old vehicle in exchange for a new one.

However, there is another problem. Many people in this position also have bad credit. This is a major hit against someone needing that new vehicle and is no longer able to rely on the aging current one. So how can someone get a new vehicle while still being able to afford a monthly payment? One of the best courses of options is a down-payment.

A down-payment is a huge game-changer. Having any amount can go a long way towards decreasing a monthly payment and make purchasing a vehicle much easier on the pocketbook. Just $500 down towards a vehicle can provide benefits such as a lower interest rate or a lower monthly payment.

Check your finances and see if this is possible because it is definitely worth it. Down-payments are a positive thing to have on a vehicle so if you can manage it, do it.

Contact us at the Bayside Chrysler Jeep Dodge and we’ll walk you through the process. Be sure to like us on Facebook and to follow us on Twitter to see our monthly deals and holiday specials.

Consumer Credit Rises Higher than Expected

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February turned out to be a better month than expected in regards to credit. A report from the Federal Reserve shows that consumer credit increased by 16.49 billion to 3.13 trillion dollars. This figured caused them to revise their January numbers from $13.80 billion to 13.70 billion. Economists were expecting consumer credit in February to rise only by $14.09 billion.

The numbers consistently show that consumers are coming back into the auto market, a market that just a few short years ago was in freefall. Since the recovery, many drivers have been either forced to purchase a new vehicle to replace older ones or have finally gotten to a position where they are able to finance a new and necessary vehicle. There is also the fact that many lenders have eased up since the recession and have been lending more and more frequently to lower income consumers.

As these figures show, it is the best time to find good financing for a new or used vehicle. If you’re one such person who needs an auto loan, be sure to contact a sales rep at Bayside Chrysler Jeep Dodge. We’ll work with you to secure the right loan to suit your lifestyle. Be sure to like us on Facebook and to follow us on Twitter for more specials and offers.