Tag Archives: auto loans

Used Car Buying Tips

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Purchasing a used car always feels very daunting. Most car-buyers have limited experience in heading into a dealership as people are starting to hold onto their automobiles for longer periods of time now. Another reason is because of the price tag attached, making people see buying a car in a much different light. If you’re going to be spending that much time, or making the commitment to an auto-loan, then you want to make sure you get it right the first time around. You even have to research the history of the car before buying used. If you’re someone who is thinking about finally purchasing that used car, here are some valuable tips from the Proctor Journal to keep in mind as you start the process.

You need to know what you want. It doesn’t matter that you’re buying pre-owned, you still want to have an idea of what style of car you’re looking for. Are you wanting a sports car to show off, or are you in need of a larger SUV for traveling with the family? Make sure to determine what style of vehicle matches your need based on life-style. Once you know that, start look at the makes and models and see which one you like the most.

Next, determine your budget. You going to need to know your financing limit. If you’re not going to pay the full price for the vehicle, look into getting an auto loan. Make sure before you do that, though, that you know how you’re going to be paying it back. That means knowing what you can afford as far as monthly payments are involved. Speak to the dealership you’re planning on purchasing from about the different options that they have for financing.

After that, plan on taking test drives. It’s a good way to determine if this car has what you’re looking for. You can research and evaluate a car all you want online, but it’s a much different experience once you get behind the wheel. It’ll help give it a feel and may even lead to you discovering an issue that you might not have thought to look for.

There’s plenty of things that you can do, as a car-buyer, before you head in for purchasing. These are simply a foundation to build off of. Go through and make a check-list to make sure that you have the proper preparedness so that you’re not caught off guard. It may seem like a giant commitment to make, especially financially, but with the right amount of leg-work, you’ll find that it’s not so overwhelming.

Bayside Chrysler Jeep Dodge is the dealership that will help you find the car you need. Give us a try and we’ll make sure to help make the process as easy and as unstressful as possible. You can even start the research by viewing our pre-owned inventory online. Like us on Facebook and follow us on Twitter for more tips on buying a car.

Decrease in Car Buying Among Youth

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The economic downturn hit everyone hard, the car industry was not recession-proof. The subject has been talked about at length, mainly due to the turn around that has been happening lately with the resurgence of sales after the bailout. During those terrible times, Edmunds estimates that about 11 million vehicle sales were lost. The times may have gotten better, but of that 11 million that delayed their purchase, 4 million still haven’t gotten to buying a car.

Autonetfinancial.com shows that the age group that is leading to a sales slump is the younger buyers. New car purchases by 18-34 year-old has gone down by 30 percent in the last five years. A prediction for this is that this age group is out of the market because they are moving to bigger cities where having a car is usually a determent.

It’s been a tough question that many in the industry have pondered, how do you get the youngest buyers into the dealerships? It’s not like there isn’t already enough of financial problems that the new generation have to deal with, with unemployment still high and college tuition still increasing. That doesn’t even bring up the fact that new buyers are usually having credit problems from lack of experience.

If you’re one of the people that I just described, but need yourself a car, we here at Bayside Chrysler Jeep Dodge aim to help you. Have bad credit? Read our previous article for advice. Come on into the dealership and we’ll give you a hand in getting the car you want. Like our Facebook page and follow us on Twitter for more tips for the prospective car-buyer.

Should You Consider a Down Payment?

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If you’re someone looking to purchase a vehicle and are suffering from poor credit, then there’s a term you maybe familiar with. The term down payment is very different depending on who is looking at it. For most people in the position of needing a car loan, it can be seen as quite evil. There’s a problem with this logic, as Auto Credit Express is showing in a new blog, that putting money down can be quite helpful in the long run.

Lenders that deal with people that are having credit problems need a down payment in either the form of money or real trade equity. The reasoning behind this is that having a down payment is a way to up the chance that the borrower will make their payments on time and in a regular manner. If there’s no money invested in a vehicle, lenders can lose a lot of money if the borrow walks away from a loan. If someone is willing to come up with 10% of the money, it’s a good bet that they mean to keep making payments.

So what are those advantages that were brought up earlier to having a down payment on a vehicle? One of them is that the larger the down payment is, the lower the monthly payment will be. It may also shorten the length of the loan. That means that you’ll have the chance to trade out of a car sooner. There’s also the possibility of getting the loan interest down.

If you have poor credit but are still in need of a car, then you may want to consider having a down payment. The way it can help reduce cost overall maybe worth the extra trouble up front. Fill out an online application and see how Bayside Chrysler Jeep Dodge can work with you to get you a vehicle. You can view our new and pre-owned inventory online. Like us on Facebook and follow us on Twitter for more auto finance information.