Tag Archives: credit report

Do You Have Bad Credit and Want a New Car? Here is Some Tips to Help

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Everyone falls on hard times. When this happens, it can be a struggle to dig something out of it and in the meantime your credit score may take a hit. If you’re starting to rebuild and need to get a car but have damaged credit due to recent events with the economy, there is still steps you can take to getting a new vehicle with bad credit.

Begin Early:

If you know you’re going to be getting a new vehicle, then it is best to start ASAP. That means taking advantage of the fact that you get one free credit report each year from the major credit reporting companies of Equifax, TransUnion, and Experian. Using this, you can see where your credit score is and if you fall into the subprime for each reporting company. Another piece of info to look for is risk factors. These are caused by old debts and if a fine when to a collection agency that had to be paid in court. This isn’t a derailment on your steps to bettering your credit, but you should look at these as guidelines for fixing what you need to get that credit score back up.

Bring in Documents Proving You are a Good Credit Risk:

When you head into the dealership, include a list of documents on your checklist of things to bring in. The reason for this is that when you sit down to look at financing, you can have these in your corner. What you are looking to do with these papers is to prove that you have a job and a history of making monthly payments. The items that you should bring then are anything you pay monthly, such as water bills, electric bills, and phone bills. Bring in your most recent pay stub from your employer showing your job. If you can get personal references to vouch for you, they won’t hurt to try to get.

Stay in You Price Range:

This is where knowing what you can and can’t afford on a monthly basis plays into. While this may hurt the car that you want, it is time to be sensible and go with the one that you know you can pay every month. This is especially important because you should know if you can cut back on certain features, this can help you with regards to saving for gas money and other car related bills.

As we usually state in these tips, there is an endless amount of things you can do to ensure that if you have bad credit and need a car to get the best deal possible. These are a few of those examples and ones that can help you get a great rate and a great car.

If you need further assistance in finding financing for a new vehicle on bad credit, contact our financing department. We’ll sit you down and help you through the process.  We love to say yes, you’re approved!   Be sure to like Bayside on Facebook, following on Twitter, or subscribing on YouTube.

Source: Edmunds

What Should You Know Before Going Into a Dealership?

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Car buying is incredibly intimidating.  There is a lot of unknown factors at play about what one should or shouldn’t know or have done before setting foot inside of a dealership.  Here is some advice that we have on what someone should do before they come into purchase a vehicle.

  • Know your credit score:

It is important to know what that number is, because that number is the determinate of many things.  You need to know if that score is low or not, don’t just guess about it.  This is also a good time to go through that credit report to find out if there is any misreporting that you can take action in correcting.  By getting this information removed, you may be able to get your credit score up at a vital moment before buying.

  • Have a Down Payment Ready:

Being able to put money down is going to benefit you.  If you have the money to put down, it increases your chances of approval and may get you a better interest rate.

  • Know your options:

Research the dealership and know the price range of the vehicle type you are looking for.  Many, like Bayside Chrysler Jeep Dodge, have websites that let you browse their new and used selection.  As long as you have an idea of what kind of vehicle you need, you can see the price range of options.  Bear in mind that while you might have the perfect vehicle picked out online, it may be different once you see it and take it for a test drive.  Have an idea of what you want, but be ready to change it.

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!

Things to Know About Auto Loans

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Getting an auto loan isn’t the easiest thing in the world. There is a lot of things to know that most people would never know unless someone told them. Here is a few tips that we recommend you understand before you go out to get a loan.

Figure out what you can afford. Keep your finances in mind when looking for a car. You may have to make cutbacks and settle for a lower priced car in order to ensure you make the monthly amount. Make sure that you get a loan with a monthly rate that is easily affordable to you. If the amount owed is something you’d be stretched to make, then it might not be the right car for you.

Know your credit score. That number goes miles in the car loan world. By knowing what it is, you’ll potentially be able to get better rates. A credit score is important and is something a person should be constantly aware of.

The score can be effected by negative reports. This is why it is recommended that you search through your credit report on a regular basis to remove any wrong information. Even the slightest detail can make a large impact on the overall credit score.

There’s plenty more tips that we will be recommending in the future. Use whatever online resources you can find to help make the auto loan process easier on you. Until next time.

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.