Tag Archives: car sales

Used Car Prices Going Down

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ID-100121023Car sales have been up.  There are a lot of reasons why this is happening.  One is that the average ages of vehicles are at the point where it’s cheaper to replace them rather than repair them.  Another, one that’s closer to heart here in New York, is because of Hurricane Sandy.  New Yorkers had their cars wrecked by the super-storm and were forced to get back in the market in the aftermath.  This influx of buyers caused the prices of used-vehicles to surge.  The used-car market has had a hard time keeping up in both inventory and by seeing the cost come close to that of a new car.  Not the best deal for someone looking to purchase pre-owned.  Thankfully, the higher cost is coming to an end.

Fi-magazine.com has the breakdown of why the analysts see a shift coming.  Before the beginning of the year, prices were already starting to go down, but Sandy broke that trend.  February showed that the market was finally getting away from that upswing, as the price for a used-vehicle was averaged at $9,752.  That figure is down 2.8 percent from the month of January.  The exception to the drop was the Mini SUV segment that went up 1.9 percent.

The sales figures for used vehicles remain strong as the year goes on.  The franchised dealers were up by 11.6% in February and the independent dealers were up 4.4%.

If you’ve been having cold feet about coming into Bayside Chrysler Jeep Dodge due to the recent news of increased used-car prices, there’s no need.  Now is the best time to come in and work with the dealership to leave in the vehicle that best suits your needs.  We love to say yes!  Follow us on Facebook and Twitter to see more news and special monthly offers.

Mistakes to Avoid for a Better Credit Score

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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.