Dye Autos Denver Area Truck and Automotive Blog
As car loan interest rates rise, the need becomes greater for consumers to work a little harder when shopping for the best deals.
Shopping for a car loan can be just as daunting as shopping for a car. Most car shopping begins online. If you’ve ever done a Google search for “car loan,” you know how many hundreds of options are available.
But how do you choose which car loan is best? Here’s where your local car dealer can help.
Dealerships are the best place to get a car loan for many reasons…
It’s super convenient since you’re already at the dealer.
All of the bothersome paperwork — from title transfers to loan agreements — can be handled professionally at the dealership. The whole process goes more smoothly with this one-stop approach.
Using dealership financing sources makes it easier to access offers from multiple lenders at once. The easiest and best way to finance a vehicle is through the dealership where the vehicle is being purchased.
Dealerships have close relationships with all types of lenders.
Dealerships normally have dozens of lenders from which to choose. They work with lenders of all kinds – good credit, fair credit, bad credit – and consumers benefit from those relationships.
We’ve all experienced poor customer service and, with the consolidation of banks and other lenders, it doesn’t seem to be getting much better.
On the flip side, dealers are business members of your community and maintain good relationships with their portfolio of lenders. They are there to answer questions and help you, instead of putting you on hold or treating you like a “number.”
Dealerships have flexible lenders who are open to people who have lower credit scores.
For people who have blips on their credit history, dealers can leverage their good lender relationships to help them get a car loan, often when they’ve been rejected elsewhere.
Financial hardships can happen to anyone. There are many individuals who simply aren’t prepared for unexpected financial challenges such as job loss or medical bills. Having a close relationship with all types of lenders allows the dealer to find the right car loan for YOU.
At DYE Autos, we’ve worked with hundreds of credit-challenged customers here in the Denver – Wheat Ridge area and we understand how tough it can be. It’s a fact that lenders do lend to people who’ve been through hardship and we can help you.
Pro Tip: Always know your credit score. Your credit score is key to getting the lowest interest rate on your car loan.
Your credit score is a three-digit number that uses your credit information to assess how risky a borrower you are, and it can significantly influence how lenders decide the terms of your loan.
The higher your credit score, the lower your risk and the lower your interest rate. The lower your credit score, the riskier you are and the higher your interest rates. Be proactive in checking your credit score before you shop so you know where your credit stands before you apply for a loan.
Bonus tip: get pre-approved for a car loan.
Many dealers, like us at Dye Autos, offer an easy way for customers to get pre-approved.
This fast and easy process lets you choose how much you want to borrow based on the type of vehicle you’re looking for. Pre-approved truck financing with DYE Autos is just a click away. Visit this link >>>here<<< to get pre-qualified.
We’ll put our experience to work for you!
One of our helpful finance specialists will contact you to discuss available financing options.
“If it’s a truck you wanna buy, you’d better call DYE!”
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It’s time for you to get a new car or truck, and you’re weighing your financing options. It seems like such a simple decision. If you have enough money to pay cash for a new car, should you do it? While that can be a smart choice, it’s not always the right option. Here are the pros and cons of paying cash vs financing a car.
Before we get into the question of cash versus financing, a little background is in order for car shoppers who haven’t had much experience buying a new car.
If that sounds like you, here’s the deal: When it comes to buying a car or truck, you generally have two ways to go. You can either finance the car, which means you pay it off over time, or you can pay cash, which means you buy the vehicle outright as if you’re picking up a new pair of sneakers at the store and handing the clerk your debit card.
The advantage to financing is that you’ll usually end up with a better car than if you’re paying with cash. How? Here’s why.
Let’s say your car budget is $8,000. You can buy a used car if you pay in full. However, if you use that $8,000 as a down payment on a new car, you can expand your automotive horizons greatly. If you have good credit, you can easily afford many new models.
The drawback is that you’ll need to make monthly payments in order to pay off the loan that allowed you to buy the newer, more expensive vehicle. Included in those payments is interest, which is a fee you pay the bank for allowing you to borrow the money in the first place.
Cash isn’t necessarily better.
Buying a car with cash is generally preferable to financing, but there are many situations in which that’s not the case.
Most people don’t have cash to spend on a car. If you’re like many Americans, there’s never enough cash on hand to layout on a car or truck. If you have good credit, interest rates are still low and that cash might be better saved for a rainy day.
If you have bad credit, paying cash could ruin your chances to re-establish your credit. Use some of your cash for a down payment and finance the balance to show lenders you’re serious about repairing your credit.
Here are the pros and cons of paying cash vs financing a car.
Paying Cash
Pros
- Save money because you won’t be paying finance costs.
- Peace of mind in knowing you own your vehicle.
- Convenience of no monthly payments.
Cons
- Losing out on the other opportunities to leverage your cash. You may be able to earn returns on your money if you were to invest it instead of making car payments.
- You’re missing an opportunity to build a more positive credit score.
- If this is all the cash you have on hand, you’ll not have a “nest egg” around for emergencies.
Financing a Car (Getting a Car Loan)
Pros
- Rates are still low for those with good credit.
- Rates are also still lower for those with bad credit (but higher than for those with good credit).
- Build and/or re-establish your creditworthiness.
- Have cash available to invest elsewhere and increase income.
- Peace of mind knowing you’ve got cash available should something unexpected happen.
Cons
- Pay more for the car because of financing costs.
- Time investment recommended for researching lenders and dealerships who can help with financing.
- Paying the monthly payments.
Dye Autos has been helping customers like you with car loans for many years. We’ve got over 70 years experience in auto loan financing and we’re here to help. Call us at (303) 286-1665 or simply use our easy contact form >>here<<.
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Buying a car with bad credit can be intimidating. If there was ever a good example of the phrase, “Knowledge is power,” it’s in taking on the process of buying a used car when your credit is less than perfect.
The first thing you need to know is…
It’s not hopeless.
Your situation doesn’t have to be grim. If you’ve had a good track record paying previous car loans or your financial issues stemmed from uncontrollable events, you may very well be able to finance your vehicle.
In The Great Recession, many people to lost jobs and eventually made less than they once did. Medical bills, divorce and other unforeseen circumstances happen. You’re not alone.
Tip #1: Talk to your dealer first
If you’ve worked with a dealer in the past and have a good relationship, call them first. They’ve already established trust and credibility and won’t steer you wrong.
Tip #2: Work on your credit before you start shopping
Check your credit report as soon as you start thinking about buying a new car, even if it’s months or years in advance.
By cleaning up your credit before applying for a loan, you improve your chances of being approved with decent terms. Cleaning up your credit will include paying off past due accounts, disputing credit report errors, and adding positive information to your credit report.
Tip #3: Shop for a car loan just as you would if you didn’t have negative marks on your credit report.
When you’ve got bad credit, “you’re likely to agree with just about anything they’ll give you. But you shouldn’t just take the first offer you get,” warns Chris Kukla, senior vice president at the nonprofit Center for Responsible Lending.
Look for ways to save money on a car loan:
- Shorter term
- Factor in all the costs (insurance, gas, parking fees, etc)
- Get 2-3 quotes
- Make additional payments if you can
Tip #4: You’ll need a down payment
A down payment is usually required by lenders, and it’s definitely a good idea.
Why?
- It will reduce the amount you’ll need to borrow.
- It improves your chances of loan approval.
- You may get better terms with a down payment.
- It will reduce your monthly payment.
Your credit history will limit the size of the car loan you can get and a high interest rate will make the amount even lower. A down payment will offset the interest, taxes, and fees and widen the selection of vehicles you can choose from.
Tip #5: Yes, you can get Pre-approved
This fast and easy process lets you choose how much you need to borrow based on the type of vehicle you’re looking for.
Used car financing with DYE Autos is easy, click >>>here<<< to get pre-qualified. One of our helpful finance specialists will contact you to discuss any available financing options, including the amount you’re qualified to finance.
Tips #6: Read all the paperwork
Loan documents are confusing. With your money and your credit on the line, it’s important to take time to understand the terms of the loan.
Make sure the paperwork matches what you verbally agreed to.
Need help financing a car or truck with bad credit?
We’re here to help. We have over 100 years combined experience financing cars and trucks. Together, we’ll get it done! Call (303) 286-1665 or use our handy contact form >>here<<.
Read MoreDuramax, Chevrolet and GMC Horse Power and Torque
2006 GMC Sierra Crew LBZ Duramax Diesel for sale by dyeautos.com in Denver
This article is about the Chevrolet Silverado and GMC Sierra (GM) pickup trucks mated with Duramax diesel engine with some specifications and history. The Isuzu and GM coop'd the 6.6l turbo diesel engine design that has put Chevrolet and GMC on the map for consumers and diesel truck lovers. In 2001, the Duramax turbo diesel was introduced to the GM 3/4 ton, 1 ton trucks and commerical trucks. In 2004.5, the EPA required a catalytic converters (Cat) and exhaust gas recirculation (EGR) on the LLY engines. In 2008, the EPA again required stricter emissions and required the first Diesel Particulate Filter (DPF) as well as the Cat/EGR. In 2011, improvements were made in the emissions systems by the new Urea injection system that didnt hurt performance.
The Allison 1000 automatic transmission has been the in the large amount of GM trucks built with the Duramax however you could order a 2001-2007 GM truck with a ZF S6-650 manual transmission. Interesting enough, the ZF S6-650 manual transmission ZF Friedrichshafen AG was used in the 1999-2003 Ford F-250 and F-350 trucks previously. This transmission was discountinued in 2007 by GM.
Chevrolet diesel trucks:
https://www.dyeautos.com/inventory/Used/Chevrolet/?search=diesel
GMC diesel trucks:
https://www.dyeautos.com/inventory/Used/Gmc/?search=diesel
2013 GMC Denali Duramax diesel for sale by dyeautos.com in Denver
Duramax diesels with Allison 1000 automatic transmissions
Year. Engine Vin code HP Torque Allison or ZF S6-650
2001-2003 LB7 1 235 500 5 spd 6 spd man.
2004 LB7 1 300 520 5 spd 6 spd man.
2004.5 LLY 2 310 520 5 spd 6 spd man.
2005 LLY 2 310 520 5 spd 6 spd man.
2006 LLY 2 310 605 6 spd 6 spd man.
2006.5-2007 LBZ D 360 650 6 spd 6 spd man.
2007.5 LMM 6 365 660 6 spd
2008-2010 LMM 6 365 660 6spd
2011-2016 LML 8 397 765 6 spd
2017 L5P Y 445 910 6spd
We always carry serval Chevrolet and GMC trucks with Duramax engine and Allison transmissions.
Chevrolet diesel trucks:
https://www.dyeautos.com/inventory/Used/Chevrolet/?search=diesel
GMC diesel trucks:
https://www.dyeautos.com/inventory/Used/Gmc/?search=diesel
2010 Chevrolet Duramax diesel for sale by dyeautos.com in Denver
Here are my sources of information and highly recommended information of Duramax's.
http://www.dieselarmy.com/features/history/family-lineage-the-evolution-of-gm-diesel-truck-engines/
http://www.trucktrend.com/cool-trucks/1303dp-history-of-the-duramax-diesel-engine/
http://www.duramaxhub.com/
Vehicles with 6.6l duramax diesel engines included but not limited to Chevrolet Silverado and GMC Sierra 3/4, 1 ton light duty trucks.
2008 chevrolet LTZ Duramax crew Z71 for sale by dyeautos.com in Denver
Chevrolet diesel trucks:
https://www.dyeautos.com/inventory/Used/Chevrolet/?search=diesel
GMC diesel trucks:
https://www.dyeautos.com/inventory/Used/Gmc/?search=diesel
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Dodge Ram Cummins 5.9l 6.7l diesel engine specs
Dodge Ram Cummins 5.9l 6.7l diesel engine specs have changed a lot from 1989 to 2017. The Cummins corporation actually made the engines for the Chrysler corporation bda Dodge and Ram companies. All these Cummins diesel engines are inline 6 cylinders. You can find these Cummins engines in many Dodge Ram 2500, 3500, 4500 and 5500 truck models. The original design in 1989 to 1993 started with a 5.9l VE-Rotary pump and 12 valves. These engine produced 160 horsepower (HP) and 400 foot pounds of torque (lb-ft). In the next generation of 5.9l Cummins engines they would change the pump to a P-7100 from 1994-1998 but was still only 12 valves. These Cummins engines produced from 175 to 235 HP and 440-460 lb-ft torque. In the third generation of 5.9l Cummins engines they would replaced the pump with the VP44 model and would move to 24 valves from 1998.5 to 2002. These Cummins engines produced 235-245 HP and 460-505 lb-ft of torque. These Dodge Ram trucks were also the first to get a catalytic converters which were required for EPA regulations. The last generation 5.9l Cummins engines from 2003 to 2007 used HPCR pump and 24 valves. They have 305-325 HP and 600-650 lb-ft of torque. Cummins made a displacement change in 2007.5 to the 6.7l Cummins diesel. This new generation of 6.7l engines started to use a Diesel Particulate Filter (DPF) as well as a catalytic converter for new stricter EPA regulations. The new Cummins 6.7l engine from 2007.5 to 2015 had 350-385 HP and 865 lb-ft of torque. In 2016 Cummins broke the 900 lb-ft torque mark. For both 2015 and 2016 Cummins had broken the torque records for any massed produced road worthy vehicle in the United States. The 2017 6.7L Cummins has the same engine as the impressive 900 lb-ft torque of the 2015 6.7L Cummins engine in the Ram trucks. Below is a chart from 1989 to 2107 to show the changes of HP, lb-ft, pumps and valves. Dyeautos.com has diesel trucks for sale many of these trucks are Dodge and Ram diesels. As a side note you can denote the 5.9l’s and 6.7l’s by the 8 digit of the VIN as a “C” or an “A,” respectfully.
https://www.dyeautos.com/inventory/Used/?search=dodge%20ram%20diesel
Dodge diesels truck and later Ram diesel truck engines specs:
Pumps and years
VE-Rotary 1989-1993
P-7100 Pump 1994 t0 1998,
VP44 1998.5 to 2002,
HPCR pump from 2003 to 2017
Dodge Ram Cummins 5.9l 6.7l diesel engine specs:
Year Displacement (Disp) Horsepower (Hp) Torque (T) # of valves (V)
Year Disp Hp T V
1989 5.9L 160 400 12V
1990 5.9L 160 400 12V
1991 5.9L 160 400 12V
1992 5.9L 160 400 12V
1993 5.9L 160 400 12V
Dodge Ram Cummins 5.9l 6.7l diesel engine specs
Year Disp Hp T V
1994 5.9L 175 420 12V
1995 5.9L 175 420 12V
1996 5.9L 215 440 12V
1997 5.9L 215 440 12V
1998 5.9L 235 460 12V
Dodge Ram Cummins 5.9l 6.7l diesel engine specs
Year Disp Hp T V
1998.5 5.9L 235 460 24V
1999 5.9L 235 460 24V
2000 5.9L 235 460 24V
2001 5.9L 245 505 24V
2002 5.9L 245 505 24V
Dodge Ram Cummins 5.9l 6.7l diesel engine specs
Year Disp Hp T V
2003 5.9L 305 555 24V
2004 5.9L 325 600 24V
2005 5.9L 325 610 24V
2006 5.9L 325 610 24V
2007 5.9L 350 650 24V
Dodge Ram Cummins 5.9l 6.7l diesel engine specs 2005
Dodge Ram Cummins 5.9l 6.7l diesel engine specs
Year Displ Hp T V
2007.5 6.7L 350 650 24V
2008 6.7L 350 650 24V
2009 6.7L 350 650 24V
2010 6.7L 350 650 24V
2011 6.7L 350 800 24V
2012 6.7L 350 800 24V
2013 6.7L 385 850 24V
2014 6.7L 385 865 24V
2015 6.7L 385 865 24V
2016 6.7L 385 900 24V
2017 6.7L 385 900 24V
Dodge Ram Cummins 5.9l 6.7l diesel engine specs
Dodge Ram Cummins 5.9l 6.7l diesel engine specs
https://www.dyeautos.com/inventory/Used/?search=dodge%20ram%20diesel
I believe these numbers to accurate from various articles, Dodge/Ram forms and websites.
References:
https://cumminsengines.com/pickup-truck-cummins-ram-history
http://blog.caranddriver.com/do-all-of-the-twist-ram-snatches-truck-torque-crown-with-865-lb-ft-cummins-diesel-for-2015/
https://www.turbodieselregister.com/threads/195081-Catalytic-Converter
http://truckyeah.jalopnik.com/2016-ram-cummins-diesel-900-lb-ft-of-torque-stock-and-1713029867
http://www.ramtrucks.com/2017/ram_3500/index.html
Get approved today with our easy auto loans!
https://www.dyeautos.com/inventory/Used/?search=dodge%20ram%20diesel
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