Tag Archives: New York

How to Get the Best Auto Loan at 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.  You can also get our latest deals and news by following Bayside on Twitter and Facebook and subscribing to our YouTube channel!

Determining Which Auto Loan Works Best for You

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Purchasing a new car can be very daunting. It’s seen as a milestone in the purchasing life of any individual right next to the mortgage for a new house/apartment. It’s a commitment, that’s for sure. When you decide to go out and buy a car, you know it’s going to be a while before it’s fully paid off. In an effort to help out car buyers, Cars.com is looking to educate on car loans and how long should they be?

There’s a good piece of advice for buyers from the start, are you ready to buy? It’s a simple question and one that feels like it’s not asked enough before making such decisions. It’s important to know that you’re prepared from a savings point, that you are ready to make a financial sacrifice to maintain a healthy life-style and still manage to make car payments on time.

Now that we’ve determined that you are indeed ready for that car you’ve so wanted from the lot, now is the question of how long do you plan on having that car? The reasoning behind this question is to best determine the length that you should get on your loan. If you answered that you plan on replacing the vehicle, a shorter loan is the right one to look for. The resale value of a car falls quickly, meaning that what you owe can end up being more than the car is worth by the time you get to selling it or trading it in.

Having a shorter loan can loan can also help you pay less on your car. A shorter term loan both pays off the car faster and keeps the interest costs down. The problem that many may have from getting that short-term loan is that the monthly payments will be more expensive. While that might seem obvious to some, many also don’t think about how the interest rate may impact the overall price on a longer term loan. You may end up paying less monthly with the long-term loan but the interest rate is higher on those loans, meaning that the car may be more expensive in the long run.

Long-term loans work the best for people who have the income now, but are not certain of where they will be financially in the future. It’s recommend for people that fall into this category seek out getting the longest possible loan with the lowest rate. If you do this, you can pay of f the loan aggressively and should the worst happen with things like losing a job, you will still have leeway to work with.

It’s a tough choice, to pay more now to pay less later, or to deal with more interest but less payments. There’s pros and cons to either side and only you know your finances well enough to choose between. Still, it’s good to think ahead about these things when going into the dealership so you have knowledge of just what kind of loan would best suit you.

Bayside Chrysler Jeep Dodge would like to help you get that car loan you’re wanting. Contact us and see what we can do to help you get that short-term or long-term loan. Like us on Facebook and follow us on Twitter of more information on the dealership and on car news!

Auto Insurance Myths

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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 insurance.com 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.