Tag Archives: Chrysler

Chrysler Capital Opens Strong as Auto Loans Remain Easily Available

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UntitledIt’s only been a month since Chrysler switched their preferred lender from Ally Financial Inc to their own Chrysler Capital and it already looks to be a success. The opening month for the new auto lending service is off to one strong start.

Back in May, Chrysler parted ways with Ally to focus on the creation of their own lending group, Chrysler Capital. Since then, Chrysler Capital has worked on about 21 percent of the loans given out at the 2,500 Chrysler dealerships across the nation. That makes them the top loan writer at Chrysler dealerships.

“”I consider that pretty strong right out of the chute,” said Reid Bigland, Chrysler Group’s head of US sales. “There’s a pretty thick Rolodex of financial providers that is now available to dealerships.”

Bigland went on to say that he thinks lenders are so aggressively pushing into auto loans because the value of a car has held up much stronger than homes during the recent economic downturn. Credit availability is now the best it’s been in the history of automotive financing.

Are you looking to get a vehicle? Contact us at Bayside Chrysler Jeep Dodge and we’ll work with you to find the appropriate car to suit your life-style. We operate in the Queens area and help all those in New York drive away in the car they need. We love to say yes! Like our Facebook page and follow us on Twitter for more news and monthly specials.

Chrysler Teaming Up with New Bank for In-House Financing

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ID-100128845Since the notorious bankruptcy of Chrysler so many years ago, the car maker has relied on Ally Financial. Ally used to work with General Motors before that major transition. Doesn’t look like that will be the case any more as some major news in the financing world is coming out about a switch Chrysler is looking to make.

The car maker is closing in on a deal with Banco Santander, a Spanish bank. What they are hoping to accomplish is to have an in-house financing arm. This new arm will be called Chrysler Capital. What it is planning to do will be to provide financing for both consumers and dealers.

The report of this comes out of the Wall Street Journal and it writes about how the Chrysler and Santander deal may be happen in just a few weeks. Chrysler had already informed Ally Financial that their agreement, which was signed in April of 2012, would lapse in April of this year.

If you’re in the market for a vehicle and need to get a loan, please contact us here at Bayside Chrysler Jeep Dodge. We love to say yes. Like us on Facebook and follow us on Twitter for more news and monthly specials.

Image courtesy of Stuart Miles / FreeDigitalPhotos.net

Want Better Credit? Break These 3 Bad Habits

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We get questions all the time from people who want to get a car loan but have poor credit. What can they do to improve their score and their overall financial health? The answer isn’t as complicated as one would expect, but it involves one of the toughest things a person can do, which is changing their habits. We’re going to do a quick rundown of how you can break 3 of the biggest habits holding you back from a great credit score.

First, get a notebook small enough to carry in a pocket or a handbag, and make sure you always have it with you. Whenever you make a purchase, write it down in the notebook. This way, you know exactly where your money is going, and you break the habit of making impulse buys on a debit or credit card.

Second, pay down your credit card balance. A good part of your credit score calculation is the debt you have compared to the amount of credit currently available. The lower your balance on the credit card, the better your credit score will be. Once you have paid down your credit card, keep it at an amount you can pay off each month. Break the habit of debt procrastination, saying to yourself, “I’ll pay it off next month.”

Finally, get out a calendar or a day planner and make note of the days that your bills are due. Late payments can knock down your credit score very quickly and can lead to extra penalties or a higher interest rate. Break the habit of paying late, and your credit score will definitely improve over the next year.

Looking for more car buying and credit tips? Check us out on Facebook and follow us on Twitter for more, and stop by Bayside Chrysler Jeep Dodge if you are looking for a car but worried that your credit is holding you back.

Image courtesy of Pixomar / FreeDigitalPhotos.net