Auto Insurance Myths


Have you ever heard that red cars cost more to insure? There is a lot of these kinds of myths that somehow make their way long enough to become institutionalized. The answer to that first question, as it obviously is, is that it is not true at all. The question, however, if the color of your car affects your insurance is an interesting one, one that takes a look at.

Insurance is affected by many things, but your choice of color is not one of them. Most of the time, the insurance company won’t be aware of the color. It is pretty low on the things they care about.

Another reason that people fear the color red leads to higher cost is because it’s a beacon of being pulled over. Cops obviously pull over more cars that are painted red, it is a surefire sign that says “I’m speeding, come and give me a ticket.” This is something that 46 percent of 2,000 drivers believe according to a recent survey. They believe that because red cars get pulled over more often, then their insurance is more expensive.

This is simply not true. Even if red was getting pulled over more, the insurance rate being raised isn’t affected by color, but by the frequency of that model being pulled over. Tickets affect the rates of the drivers the most. There is no data that shows that red is the most pulled over color of vehicles. It isn’t even the most stolen. If you’re worried that red makes you a more likely target for car thieves, think again. The top color is silver.

The real lesson to learn from all this is to choose the color you like the most. Don’t worry about an urban myth, if you want that red Dodge Charger, then treat yourself.

If you need help with purchasing a new or used vehicle, be sure to contact us at Bayside Chrysler Jeep Dodge. If you need further assistance in finding financing for a new vehicle on bad credit, contact our financing department.  We love to say yes, you’re approved!   Be sure to like Bayside on Facebook, following on Twitter, or subscribing on YouTube.

3 Credit Myths Debunked


The hardest problem for anyone looking to purchase a vehicle is knowing where to start. It typically begins long before stepping foot in the dealership. One of the most difficult things to understand is credit. There are many myths that are thought of concerning credit. With the help of a piece on UsNews, though, we’ll try to break down some of those myths to make the process a little easier.

The first myth is only having one credit score. It certainly would be nice if that was true. Having only one credit score to worry about would make things much easier. However, the sad truth of reality is that it is more complicated than that.

A person’s credit score is based on the credit report between the three credit bureaus- Experian, Equifax, and TransUnion. Each of these bureaus uses different methods of determining credit scores to complicate the matter even more. Other various credit scoring models also have an impact, each one using slightly different modeling than the next.

The danger of this myth, according to Us News, is that you can be scared into paying for unnecessary services. You may subscribe to credit monitoring programs that do not give you the information you really need. What you see is not necessarily what the creditors see. Be wary of paying for information concerning your credit score.

The second myth is having a balance in order to have a good credit score. The balance that is reported to the bureaus tends to be the previous statement’s balance. The bad implication believing in this myth may have is that you may be keeping on unnecessary debt by not paying off bills in order to have a higher balance. Don’t let yourself fall behind in order to buy into this myth.

The final myth is one that should definitely be challenged. The idea that the credit bureaus are always right. This couldn’t be a more wrong idea to believe. It would be a magical and great world if it were the case, but as many can attribute, it simply isn’t. According to the Federal Trade Commission, one in five people have errors on at least one of the major three credit reports.

Thinking the reports are accurate encourage complacency. It means doing nothing when action should be taken. Having a lower credit score than you could have is going to hinder approvals and interest rates. Knowing what is on a credit report can be the difference of thousands of dollars.

As Us News says, and we agree, it is not fun but it is necessary to scan through credit reports to find and dispute any and all errors. It is tedious, it is annoying, but it the reward is plentiful. Having healthy credit is important and everything should be done in order to achieve it.

If you have any more questions regarding credit issues or are looking to start the process in getting approval for an auto loan, contact us at Bayside Chrysler Jeep Dodge. Be sure to like us on Facebook and to follow us on Twitter.