How Purchasing a New Car Can Improve Credit

Looking to get a vehicle for yourself but are also suffering from having bad credit at the same time?  What you might not know is that having credit issues and purchasing that very car can actually go a long way in helping you improve your score.

Auto Credit Express breaks down the how this can help.  Lenders are looking to get people through the dealership doors even if they have low FICO scores.  Just because your credit is bad now doesn’t mean that it was in the past.  If they can see that changes in your score occurred due to major life events, such as losing your job or experiencing a medical problem, then the odds are more in your favor of getting a good loan.

Before you do head into the dealership, however, there are things to keep in mind.  First, that loan you’re getting after a dip in the FICO score will be at a higher rate than many consumers are used to.  You’ll also want to make sure to make each payment on time, as well as other bills you have, so that you can qualify for a better rate the next time around.  If you miss a payment on time, then it will take your credit score even lower down.

The point of purchasing a car in this case is to improve your credit while getting the vehicle you need.  The best tips to do this are to make sure that you look for an inexpensive car, small or midsized.  See if you can choose a loan term of 48 months or less.  Make sure you check on the history of the vehicle.  By following these steps, you place your self in a position to save money by trading out in 18 to 30 months for a better deal.  Also, knowing that history makes sure you avoid thousands of dollars in repair bills.

Come on in to Bayside Chrysler Jeep Dodge and start the process of improving your credit while driving away in that car you need.  We love to say yes at the dealership.  Be sure to like our Facebook page and follow us on Twitter for more tips and deals.

How to Get the Best Auto Loan at a Dealership


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!

What to Consider Before an Auto Lease

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 /