Dye Autos Denver Area Truck and Automotive Blog


Is My Trade In Considered a Down Payment?

By Dye Autos / August 9, 2018 / Comments Off on Is My Trade In Considered a Down Payment?

is-my-trade-in-considered-a-down-payment-denver-1Yes, when buying a car or truck, your trade in vehicle can serve as your down payment. However, there are factors to consider in that decision.

1. Dealers accept trade ins and cash down payments.

The amount of total down payment you’ll need is governed by two things:

  1. The amount that the bank requires in order to provide you with a loan. Your credit score is the driving factor.
  2. The amount of monthly payment that fits your budget.

2. Is your trade in loan paid off?

  • If your trade in loan is paid off, the dealer will appraise your trade in and give you the price they’re willing to pay for your vehicle (actual cash value or ACV). You can use that amount as a down payment, or, in some circumstances, you can take part of it in cash back to pay for other important things in your life.
  • If your trade in loan is not paid off, the dealer will get in touch with your bank for the pay off amount and compare it with the price they are giving your for your trade in (ACV).
    • A positive difference (you owe less on your loan than your trade in’s ACV) means you can use the amount for your down payment.
    • A negative difference (sometimes called “negative equity” – you owe more on your loan than your trade in’s ACV) gets a bit more complicated and #3 below explains more.

3. Does your trade in have negative equity?

Equity is the difference between your trade in’s actual cash value (ACV) and the amount you owe on the loan. For example, if your vehicle’s ACV is $5,000 and you owe $3,000, you have $2,000 in equity that can be used as a down payment toward the new car purchase.

If your trade in’s ACV is $3,000 and your loan pay off is $5,000, you have negative equity.

When faced with negative equity in a trade-in, you’ll need to weigh all of your options. There are three main courses of action you can take:

  1. Pay off the difference – This is ideal if your negative equity amount isn’t too high and you have the cash. Not everyone is in a position to do this.
  2. Roll it over – “Roll over” the negative equity into the new loan. Not all lenders are willing to do this, so make sure you ask if this is an option. The downside to rolling over negative equity is that you’ll be increasing the amount of your new loan, which will increase the monthly payment. However, in many cases, when it’s amortized over the full term of the loan, it is affordable.
  3. Wait it out – The last option is to wait until there’s no negative equity. Waiting until your trade-in is paid off or the loan reaches a point where there is equity could make your next car purchase easier – but it’s not a guarantee. Trade in values fluctuate and now may be the best time to buy.

The only way to know for sure on trading in your car or truck as a down payment…

…is to visit a trusted Denver dealer who’s got many years of experience providing seasoned advice and helping people get the best car loan.

Dye Autos in the Denver – Wheatridge area is ready to help you find the used car or truck of your dreams. Call us at (303) 286-1665 or complete our handy online form >>here<<. We’ll be in touch!

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Useful Tips to Make Your Truck Camping Trip Awesome!

By Dye Autos / August 2, 2018 / Comments Off on Useful Tips to Make Your Truck Camping Trip Awesome!

tips-to-make-your-truck-camping-trip-awesome-1There’s a lot of cool things a truck can do like haul your stuff, tow your trailer or boat, and be your work partner. But there’s a great way to “get off the grid” for awhile with truck camping.

Colorado has so much to offer and the best road trips happen in a pickup truck.

The mention of truck camping can elicit weird looks from some people but for those that have tried it, it’s pretty awesome.

If you’ve trekked the most challenging, beautiful trails out there and camped like nobody’s business, you might be tired of camping in the same camping tent all the time and want a change.

If you’re looking for something new and refreshing in the hiking world, it’s time to pack a pickup truck and hit the great outdoors for some truck camping.

For those unfamiliar with the benefits of truck camping, have no fear. We’ve got some compelling tips to introduce you to this new road trip option.

What is truck camping?

Truck camping is simply camping inside your vehicle instead of in a tent, be it a pickup truck with a topper or a simple SUV. Some people prefer roof top tents or pickup truck and canopy combos, but it all stems from your truck as the place you sleep.

Truck camping is super affordable.

Staying in hotels for any length of time can be expensive. Camping isn’t free most places but $25 per night is a steal compared to hotels. You can save your money for dinner and drinks!

The ideal sleeping setup.

There are different truck camping options ranging from a roof top tent, a truck bed camper, a pickup/canopy combo, or even a truck bed tent.

You’ll most likely have sleeping bags or a comforter but if you plan to sleep in the bed, you’ll definitely want something cushy underneath you. A tri-fold mattress is a good choice. It won’t take up a lot of headroom and it will let you sleep comfortably.

Unless the third person is a small child, two is the most you’ll be able to comfortably fit in your truck.

Truck camping beats tent camping.

When compared with tent camping, truck camping has many advantages.

  • If the weather is challenging once you arrive, it’s not going to be fun setting up a tent. Your truck stays nice and dry and requires very little set up.
  • No worries about animals visiting you during the night.
  • Your truck bed is soft and even so you won’t be sleeping on a rock.
  • Trucks are built to keep out noises so it will be more quiet.

Enjoy more time in nature.

Truck camping is one of the best ways to get out there on the road and have a good time. You’ll have experiences you’d never have if you stayed in a hotel or AirBnB.

Think of the adventures you’ll have…and the stories you’ll be able to tell!

Fresh air, rain and bugs.

Two bodies in a vehicle can get pretty warm when the windows are fully closed.  If it’s already warm out, the added heat will make it too hot to sleep in. Two people breathing creates lots of moisture as well. The only way around this is to let fresh air in by having a window open, even if it’s just an inch. The problem is that an inch is a lot when it’s raining, and it’s enough to let bugs of all sizes in as well.

You can solve these problems by adding an Auto Vent Shade:

  • It allows the windows to be cracked without letting the rain get in.
  • It keeps the truck cooler when parked on hot days.
  •  The windows look fully closed because the vent shade hides the fact that they are open at the top.
  • Bugs don’t seem to find their way in with the windows cracked, but if you’re particularly worried about mosquitos or spiders, you can’t go wrong with a Window Bug Screen.

Begin with the right truck for you.

Truck camping starts with a great truck that works for your lifestyle. If you’re like most people, you’ll be using your truck for lots of other things too and that’s where a truck expert can help you decide what works for YOU.

At Dye Autos, we have a huge assortment of affordable trucks that are ready to partner with you on your next trip – camping or otherwise. Call us at (303) 286-1665  or get in touch with us using our online form >>here<<.

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How Does It Work When Trading In a Car?

By Dye Autos / May 24, 2018 / Comments Off on How Does It Work When Trading In a Car?


You’re ready to get rid of your current car and get yourself a new one. For many vehicle owners, there’s nothing easier than trading in a car to a local Denver dealer. That way, you avoid the time and effort it takes to list, find a buyer and sell your vehicle online; plus, dealers today are working to make the trade process fast, easy and transparent.

Before you visit the dealer, be sure to take these important steps:

  • Use online tools to appraise your car’s value. Edmunds.com and kbb.com are two great resources to appraise your trade-in’s value.
  • Be honest with yourself about your car’s trade-in condition. The more forthright you are when using online appraisal tools, the better off you’ll be when it comes time to trade it in. Very often, people come into the dealership with an overly-optimistic idea of what their car is worth, only to find that reality is less optimistic.
  • Give your trade-in curb appeal.
    • Clean the exterior and interior well.
    • Remove small dents.
    • Fix window glass defects.
  • Bring all vehicle paperwork with you. You will need:
    • Certificate of title (if you don’t have it, the DMV can tell you how to get it replaced). Note: if you have an outstanding loan on the vehicle, this will not apply since the bank has your certificate of title.
    • Current registration.
    • All your car keys and the owner’s manual.
    • If you still have a loan on the car, you’ll need to have your account number or a payment stub.
    • Maintenance records. These help support your claims about whatever prior damage your car has had and the repairs it has undergone.

When you arrive at the dealership

Inform your salesperson that you will be trading in a car. The salesperson will likely take down some of your information, then either the salesperson or a manager will perform a visual inspection of your vehicle, record the vehicle identification number and run the number through a vehicle history database to check its records.

The salesperson or manager may take your car for a quick drive to see how it runs.

Getting your trade-in offer

The trade-in offer you receive will depend on several factors, but mostly it will rely on the price being sought for similar vehicles at auction. Other possible factors include whether or not the dealer has similar cars on the lot already, the condition of your vehicle and whether the dealership needs to make any repairs to make your trade-in ready for other buyers.

Since you’re trading in your car in order to buy another one, negotiating the price for your trade-in will include the car you’re buying.

Paying off your trade-in’s loan & finishing up your deal

When you’re trading in a car, there may be a little more wiggle room on your trade-in value against the price of the car you’re hoping to buy.

When the amount you owe on the car is less than the trade-in value, the process is pretty straightforward. Say you still owe $5,000 on your car and a dealer offers you $6,000 for it as a trade-in. The dealer pays off the $5,000 loan for you and then you transfer ownership of the car to the dealer. You can use the difference (in this example it’s $1,000) as a down payment on the car you’re buying.

When the amount you own on the car is more than the trade-in value, the dealer still pays off your loan. This leaves a balance due to the dealer which you can either pay cash for, or sometimes, roll that amount into the new loan you’re getting on the new car. Various factors like creditworthiness, terms and payment amounts govern which options you’ll take.

Dye Autos helps people like you trade-in their cars and trucks everyday! Give us a call at (303) 286-1665 or contact us >>here<<. We’ll help you navigate the process of trading in a car and get you into the car of your dreams.

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Looking for a Bad Credit Car Loan? Don’t Forget These Important Steps

By Dye Autos / March 15, 2018 / Comments Off on Looking for a Bad Credit Car Loan? Don’t Forget These Important Steps

looking-for-a-bad-credit-car-loan-dont-forget-these-important-steps-2Many of our customers tell us that shopping for a bad credit car loan is just as challenging as shopping for a car. We’ve compiled a list of 9 steps to help you navigate the waters of car and truck loans when your credit is not as good as you’d hoped.

A low credit score is generally defined as a FICO score under 629. You can have a lower score for a variety of reasons, including a history of making late payments, identity theft or simply not having enough years of credit history. Your credit score dictates what type of interest you’ll end up paying on your car loan, and a low score means a higher interest rate.

1. Work on your credit before you start shopping.

Check your credit report as soon as you start thinking about buying a car or truck, 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.

2. Don’t assume the worst.

Never take someone else’s word that your credit is bad. Check for yourself by obtaining your credit report and credit score.

You are entitled to a free credit report from each of the three credit reporting agencies (Equifax, Experian, and TransUnion) once every 12 months. You can request all three reports at once, or space them out throughout the year.

3. Shop around.

When you’ve got bad credit, “you’re likely to agree with just about anything a lender offers 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

4. Start close to home.

Even if you don’t think you can get a loan, go to your bank or your credit union first. Apply at the bank where you have a checking account or your credit union. And see if your employer or insurance company offers auto financing.

Lenders who know you may provide better rates and terms.

5. Seek out a trustworthy dealer.

Believe it or not, car dealers have pretty great car loan options. They work with banks every single day and can often match or have better rates than what you’ve found in your search.

Trust is important and many dealers will work hard to keep yours. If you’ve done business with a dealer before or someone has recommended one (even through Yelp or Google reviews), include a call to your dealer in your purchase process.

6. Don’t go it alone.

Ask a friend or relative to go with you. It’s always better to have a separate pair of eyes and ears when making big decisions.

7. Pay attention to loan terms, not monthly payments.

Look for the lowest annual percentage rate (APR) over the shortest period of time. Write everything down.

If the terms are beyond your means, then consider a different vehicle at a lower price.

Focusing on monthly payments could cause you to pay more much more in financing costs.

8. Be aware of “extras.”

The Center for Responsible Lending advises that car buyers should never allow the loan to be contingent on purchasing any add-on, such as extended warranties, after-market services and even insurance.

9. 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. You’ll know ahead of time what to expect…and that means less anxiety and more peace of mind.

Let Dye Autos put our experience to work for you. Pre-approved car and truck financing with DYE Autos is just a click away. Visit this link >>>here<<<!.

One of our helpful finance specialists will contact you to discuss available financing options, including the amount you’re qualified to finance.

“If it’s a truck you wanna buy, you’d better call DYE!”

(303) 286-1665

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4 Pretty Good Reasons to Buy Yourself a Car for Christmas

By Dye Autos / December 21, 2017 / Comments Off on 4 Pretty Good Reasons to Buy Yourself a Car for Christmas

reasons-to-buy-a-truck-for-christmas-1You might be thinking about buying yourself a car for Christmas. Maybe something’s changed for you – a new addition to your family or a new job – and you’ve been in the market for a few months. As it turns out, December is the BEST month to buy a car or truck so you’d be making a smart move.

Why December? There are couple of pretty good reasons.

If you’ve been thinking about it and waiting for the right opportunity, here are the top 4 reasons to buy yourself (or your family) a car for Christmas.

1. Christmastime means deep price discounts.

One reason why used car prices dip at Christmastime is because fewer people are shopping for a car or truck during the holiday season.

Another is because used cars technically become one year older on January 1st, which affects buyer’s perceptions of the vehicle’s worth.

Technically, the best time to buy a used car is between Thanksgiving and the first week of January. The closer to the end of the year, the better your deal will be.

Used car prices tend to go through a predictable cycle in which they peak during the summer months followed by a downward slope hitting rock bottom around January 10th.

Prices tend to shoot back up quickly through February.

2. Dealers need to meet annual sales goals.

Cars aren’t on people’s minds around Christmas so dealers are eager to make a deal. But, make sure you do your homework, just as you would before buying a car at any other time during the year.

Dealers are looking to meet their annual sales goals, so many prices are slashed on even the most popular models.

Dealers also want to make room for incoming vehicles in the New Year. There’s only so much room on dealers’ lots and many don’t like to start the New Year off with overstuffed inventory.

3. Temperatures plunge – snowy days draw fewer buyers.

Cold, dreary, gray patterns of weather tend to keep consumers indoors.

People are busy with Christmas and New Year plans and when the temperatures plunge, that can equate to even fewer buyers on dealers’ lots.

When fewer people are shopping for cars, the odds are in your favor of getting the best deal. Throw on a parka and brave the temps because timing your purchase right can potentially save you hundreds of dollars.

4. You’ve been good all year long and you deserve it!

“Santa, I’ve been good all year. Okay, most of the time. Once in awhile. Never mind, I’ll buy my own stuff.”

The halls are decked, the eggnog is spiked, and we’ve never made so many meals out of bite-sized hors d’oeuvres. We don our glitziest party wear and everything has a little more glitter on it than usual.

We also run around like crazy, trying to make an appearance at every party, shop for gifts, and somehow put pressure on ourselves to make changes for the year ahead. But when was the last time you stopped to take a break just for, well, you?

The holidays are about giving…so don’t forget yourself.

Let DYE Autos help you decide on your next car. We’re here during the holidays to help, even if it’s only to offer a hot cup of coffee or a nice warm place to be for a few minutes. Come on by…and Happy Holidays!

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