Tag Archives: new

Auto Loans: Where Will I Find the Best Rates?

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Car buyers looking for the best financing deal on their next vehicle might have the answer right under their noses.

According to the National Automobile Dealers Association, dealerships across the country are meeting or beating auto loan offers from competing banks or credit unions. Today, more customers are walking into a dealership with pre-approved financing, thinking they already have the best deal.

The truth is that dealerships can almost always find a better financing deal because they send applicants’ credit applications to multiple lending institutions. By financing through the dealership, consumers can also get additional incentives like cash-back rebates or zero-percent loan offers, and since the dealership is hoping to get parts and service business from their customers in the years to come, they will work harder to get their customers a competitive deal.

For more information on how to obtain a loan, contact a sales rep at Bayside Chrysler Jeep Dodge.  We have a wide selection of new and used vehicles to look at with competitive financing offered.  Like us on Facebook and follow us on Twitter to see more financing tips and for special monthly offers.

Image courtesy of renjith krishnan / FreeDigitalPhotos.net

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.

Tips to Improve Your Car Buying Experience

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Have you been holding out on getting that car you’ve been needing? A large number of drivers have been afraid of going into the dealership due to the recession. They’ve been trying to drive every single mile out of their current vehicle wanting to avoid purchasing a new vehicle because of money and poor credit. For many of those people, that wait can’t go any longer. There’s just no more life left in the old ride. It might be time, but that doesn’t mean you have to be afraid of what your credit score may lead to. We have some helpful tips to help you get the best deal possible.

Have a poor credit score? Time to give it a boost. The higher your score, the lower the interest you can expect. That means you need to take the time to review your score. Make sure that having an inquiry on your report won’t bring it down even more. It may take you sometime to get the undesirable material taken from your report, but it’s well worth the time. Having your score show improvement can make a great difference in what your rate is.

Another method that leads to a much better rate is to increase your down payment. Having more money right up front shows that you’re less of a liability. In case you’re wondering, the industry standard for a down payment is 20 percent of the purchase price. An example is if you’re purchasing a vehicle for $25,000, then the down payment will be $5,000. The more you’re willing to put down at the time of purchase will be beneficial when you need leverage to negotiate for a lower car loan rate.

What about if you’ve done all the homework prior to going in and just can’t find the finances for a new car? You may want to look into leasing a vehicle. Leasing means that you’re not buying the car. That means your rates are more likely going to be lower than if you bought. Another plus of going the route of leasing is that contracts usually only last for 2 to 3 years. When the term is finished, you can go into the dealership and lease a newer vehicle.

Any and all of these tips can lead to a much better buying experience. Make sure that you contact us here at Bayside Chrysler Jeep Dodge. You can view our new and pre-owned inventory online. Like us on Facebook and follow us on Twitter for more tips and deals.