Tag Archives: used car

Auto Insurance Advice

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One of the most important things to keep in mind when buying a new car is the auto insurance.  It is something that tends to get pushed to the side while thinking of the bigger picture of buying the car.  Here is some important things that you should know about car insurance.

The first is that your credit has an impact on your rates.  Credit score is always important, it is one of the biggest factors any buyer should be aware of before they go to purchase a vehicle.  In regards to insurance, your credit is used to assess risk in things such as likeliness to file claims.  It’s impossible to really know beforehand what will and will not be used from your credit score to cause a change in the rate.  For that reason, it is important to have your credit score cleaned up and be the best reflection of your current status.

Be careful if you switch auto insurance companies.  If you only place a stop payment in order to get the policy canceled, you’re likely to have the insurance company report you for non-payment to the credit bureaus.  If this happens, it may cause your rate to go up when it impacts your credit score.  Talk to your insurance company, make sure all the paperwork for cancelling is properly filled out and that you have your new policy ready to start as soon as the old one ends.

Lastly, paying your auto insurance premium in full can help to save money in the long run.  Like with down payments on cars, the more you can pay up front, the better it will be for you in the future.  By doing this, you can avoid the potential to miss or be late with a payment, but you can also not worry about additional expenses that come with breaking up payments over a series of months and years.  Just be sure you can afford it.  If you can, it is certainly worth budgeting for.
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.

Getting an Auto Loan After Bankruptcy

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Bankruptcy is a terrible thing to have to go through and one of the biggest challenges once everything is done is figuring out what to do next.  If you’ve declared bankruptcy and still in a need of a car, an important fact is that despite what just happened, you can still buy a car.  The added burden you’re taking on is more of a mental stigma, something that will make you believe that you should take the first deal that jumps out at you, that since you’ve got this black mark on your credit report that you are untouchable by dealerships and loans.  This is not the right mindset.

Know that you’re not alone in bankruptcy.  According the American Bankruptcy Institute, since the start of the recession at the end of 2007, more than 7 million people, both single individuals and couples, have filed for bankruptcy.  You’re not going to be the first person with a bankruptcy mark looking for an auto loan to get a car.

When you apply for an auto loan, the lenders will be looking at your track record as much as your bankruptcy.  They’ll see how your payment history was on things such as previous car payments and mortgage payments.  They’ll check to see if you’ve gotten back on track after missing payments.  This can lead to different reactions from different lenders, but as long as you’re willing to persevere, you should be able to find an auto loan for the vehicle you need.

Dealing with a bankruptcy is difficult, but getting a car is still possible.  If you need help navigating the process, 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.

Bad Credit Auto Loan Advice

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If you have a low credit score, getting an auto loan for a used car can be difficult.  It seems impossible to get an affordable rate and terms.  What people don’t know is that they can improve their chances at landing a better rate by working for it.  Here’s some steps to follow to achieve just that:

  1. Evaluate your personal finances and ask yourself how much money you have to spend.  This leads into figuring out what kind of car you are going to be looking for.  Are you better off sticking with a used vehicle or can you afford to get something new?  Do you have money for repairs?  This is incredibly important to know.
  2. Do some research before going in to buy.  Take a look at a dealerships website and see the costs associated with different levels of vehicles.  Know how reliable they are so you can have preparation for knowing how much repairs cost may be. Know the in’s and out’s and get some idea of what you’re in the range to buy.
  3. Have a down payment.  If you have a down payment, use it.  Any amount that you can put towards the purchase of a vehicle on the spot is going to help.  It might seems small, but this can be a major difference depending on the amount of money you can put down.
  4. Try to get a shorter loan length.  This may lead to a higher monthly rate, but if you can afford it, it’ll be cheaper in the long run.  The shorter the length, the less interest has built up and the better off you’ll be.  So if you can afford it, best to keep it as short as possible.

If you’re looking to talk to someone about an auto loan, but have bad credit, contact us at Bayside Chrysler Jeep Dodge.  We’ll work with you to find the right new or used vehicle to suit your needs.  We love to say yes, you’re approved!   Be sure to like Bayside on Facebook, following on Twitter, or subscribing on YouTube.