Tag Archives: Queens

Financial Advice for the New Year!

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ID-100124223The New Year is upon us and with it comes the mandatory resolutions so closely associated with the beginning of the year.  Whether it’s to renew that gym membership with the promise of a regular exercise schedule or getting to bed on time every night, new beginnings are what the New Year is all about.  Here’s one that should be on everyone’s list; improving your credit score.

Auto Credit Express has brought to light an article that the AFSA Educational Foundation put together to help people better manage their money in order to give their credit rating a helpful boost.  Here are a few choice things you can do to help get you on the right track.

Choose a month to look at how you’re spending your money.  You want to do this in order to see exactly where your paychecks are going to.  See if you can spot places where there is unnecessary spending.  This information can make a more realistic budget and provide a bigger and better picture for a monthly budget.

One tip that I can’t stress enough is that you should obtain a copy of your credit report in order to know where you stand.  Knowing that credit score is necessary to know what needs to be done.

Always make sure to make more than the minimum on your credit cards.  Pay it in full if you can, but if that’s not a choice than anything additional you can pay down is a bonus.  Be it just 5 extra dollars or as much as $50, it helps you get to the end goal of no more debt even faster.

Taking charge of your finances is the best way to ensure that you don’t encounter credit problems in the future should you choose to apply for an auto loan.  There’s plenty more tips provided that should give plenty of help, so make sure to check them out.

Looking for a car and you’re in the Queens area?  You’re in luck; we here at Bayside Chrysler Jeep Dodge want to meet with you.  We love to say yes here.  Stop on by and see how we can help you get the vehicle you need to make 2013 the best year ever!  Pay our Facebook page a visit as well as our Twitter and stay up to date with more credit tips and offers!

Image courtesy of Stuart Miles / 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.