Tag Archives: tips

5 Tips for New Car Buyers

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Read enough auto finance blogs and you’ll find that the majority concentrates on how to obtain that auto loan.  It’s tips and tricks on how to make yourself look the best when walking into the dealership so that you’ll drive away with the best possible loan.  What you won’t find in abundance is ideas of how to deal with the vehicle once you have the loan and the car itself.  That’s why it was refreshing when the Money section of US News ran an article showing the top five bad habits that drivers do that costs their new car value, something that’s important to have further down the road when it is time to trade in and trade up for another car.  So here they are, the five things you want to avoid with your new car so you’ll get the best possible value.

1) Riding Dirty

This translates to simply being clean.  While I am certainly not the beacon of cleanliness when it comes to a car, there’s an advantage for making time to make your car looking pretty.  The biggest reason is not just to look nice, but because that dirt that accumulates on the outside can lead to serious problems later on, especially when it starts to clog into your engine.  The writer got advice from a mechanic and made sure to mention not to open the hood and spray the engine with a hose, but to use a wet rag to wipe dirt from the hoses.  Bringing in a clean car, especially one with a well maintained engine, will lead to great offers come trade-in time,

2) Driving Hard

This is the hardest thing not to do after seeing a Fast & Furious movie.  We all dream of being a race car driver or being involved in some high-speed chase, but that’s best left to the fantasy and not in the car.  A new car needs some loving car for the first time out and having a lead foot can be an issue.  Being nice for the first thousand miles can be a real benefit later on.

3) Customization

This one should come with a disclaimer.  Not all mods are created equal and thus not all are harmful to your vehicle.  If anything, it should be a call for such things to be handled by professionals and not the kid down the street who found a spoiler online for twenty bucks.  Be mind-full of what you’re attaching to a new car and make sure it works with the warranty.

4) Not Keeping Records

This is another one I will have a hard time not sounding like a hypocrite on.  Keep track of what service you have done on the vehicle.  Should you ever want to sell to a private party, having such records will be a massive benefit for figuring out value and for the person buying.

5) Seeking Service from a Stranger

This goes back to the customization bit.  Again, make sure you know that the person working on your car, be it to fix something with the engine or putting on an extra mod, knows what they are doing.  Leaving it to the professionals is always a good thing to be safe about, especially when it’s on something as important and expensive as a new car.

There you have it, some great advice for people who managed to land themselves a spiffy new car and want to treat it right.  Most of this is common sense, but it’s always nice to be reminded of the responsibility that will ensure that your vehicle will be worth the best amount when it’s time for trading in.

“Image courtesy of stockimages/ FreeDigitalPhotos.net”.

What to Consider Before an Auto Lease

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ID-100107576The San Francisco Gate recently authored an article indicating the best tips to follow to get the best out of an auto list.

Leasing has been increasing as the market has returned, according to Experian.  The first three months of this year saw a rise to people leasing out their new vehicle.  Leasing a vehicle certainly has its upsides.  If that’s the route a buyer decides to take, there are the tips that are recommend to use so that you wind up with the best possible deal.

First off is understanding just what the difference is between leasing and buying.  Leasing means that you geta car for a fixed period of time.  The payment you make is put “towards paying for the depreciation in the vehicle, not the ownership.”

There are some benefits by going this way in getting your vehicle.  The monthly payment will usually be lesser than the amount if you have to borrow to afford the car.  Also, having a shorter commitment enables you to drive away in a newer car after just a couple of years.  It’s really aimed to benefit people looking at a short-term financial situation.

The next tip is not to forget to haggle.  Talking a price down is typically stereotyped over the price of a car.  You can do that with leasing as well.  Know the sticker price of the car you’re interested in and talk down the price on the vehicle before applying the lease terms.

Make sure you’re realistic about mileage.  Leasing sets limits on how many miles you can have on the car.  Breaking that limit can have a big impact on the amount of money you owe, since then you’ll be charged per-mile.  Understand how much you drive before leasing.

Avoid leases that are longer than three years.  The majority of leases are between two and three years.  A dealership can offer longer leases, but the longer you have a vehicle, the more likely you are to have to pay for costly repairs.

Think twice about buying your leased vehicle.  When the lease is over, you have the option to buy the vehicle.  According to the writer of the article, it’s best to get an estimate on the value of the vehicle when the lease is coming to end to best decide if it’s right to buy.

Check out the full article for more details on each of the tips.  It definitely provides some food for thought for those looking to lease a vehicle rather than out-right buy.

For more help in getting an auto loan, contact us at Bayside Chrysler Jeep Dodge and we’ll work with you to find the appropriate car to suit your life-style.  We operate in the Queens area and help all those in New York drive away in the car they need.  We love to say yes!  Like our Facebook page and follow us on Twitter for more news and monthly specials.

Image courtesy of Jeroen van Oostrom / FreeDigitalPhotos.net

Know Your Credit Score: First Rule of Auto Purchasing

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What’s the first thing you do before you head into the dealership to purchase a vehicle?

That’s the question that Gerri Detweiler wrote on a post for Credit.com.  She found herself in a position many car buyers have been in of late.  Due to the recession, car owners are holding onto their used vehicles for longer thus driving up the price of pre-owned due to scarcity.  She was forced to look into the new market and wasn’t entirely certain how to start.  Thankfully, her husband had the experience and guided her into the process.

She has provided some solid advice on what to do when new to the market and the questions you should ask yourself before even setting foot in the dealership.  The very first one you should ask is the one that’s not the most obvious.  While certainly things you should know, such as knowing what you can afford, checking with Kelley Blue Book to estimate your trade-in value, or going through Edmunds and other report sites to see the best car for you, the one that you should know first is your credit score.

For whatever reason, this one gets lost in the mix.  Not knowing your credit score is the first step to disaster when shopping for a new vehicle.  Gerri Detweiler found a great quote from Phil Reed who used to work for Edmunds in which he said, “So what happens is they go directly to the dealership without checking their credit scores – which is not a good thing to do – and their attitude is “get me done.”

Knowledge is always power when it comes to negotiating with interest rates.  By knowing your credit score, you’re already one step ahead of the bunch.

Looking for an auto loan?  Check out Bayside Chrysler Jeep Dodge in the Queens New York area.  We offer quality customer service to all who come through the door.  Works with us and you’ll see why our slogan is “We love to say yes!”  Follow us on Facebook and on Twitter for more tips and advice and our monthly specials!