J. D. Byrider

J.D. Byrider Dealership Launches Campaign to Educate Public on Budgeting for Vehicle


Tyler, TX -- (SBWIRE) -- 05/02/2014 -- Despite a slowly but steadily recovering economy, statistics from the financial sector indicate at least 25 percent of American families have yet to gain any ground against the effects of the recent recession, a facet clearly reflected in their credit scores. Though many of these struggling families are merely victims of circumstance, their current financial standings have a negative impact on many aspects of their lives. Medical facilities, traditional lending institutions and employers are only a few of those who frown upon a poor credit history.The J.D. Byrider, the nation's largest used car and finance franchise enterprise, is well aware of these conditions.

Founded in 1989 with the mission to help those with credit challenges, this company has built one of the most extensive dealer-carried used car financing programs in the nation. As the latest step in their ongoing efforts to better serve the public, the company has launched a campaign to help its franchises further educate those with credit problems on budgeting for a used vehicle purchase.A representative from the company's Tyler, Texas franchise stated, "While we want to pair each of our customers with a quality vehicle that meets their needs, we also realize selling them a car they can't afford will do more harm than good.

Unlike many used car dealerships, we sit down with our prospective customers and discuss a number of aspects of their finances. Once we determine how much they can comfortably afford to spend on a vehicle, we introduce them to the selection we have in their price range."According to the company's website, the budgeting process begins with tallying household income, including earned income as well as child support, disability payments and other relevant sources. How often the applicant receives this income is also taken into consideration. From this initial amount, other monthly expenses are deducted.

These include everything from rent or mortgage, electric and gas bills, credit card payments, insurance to any child support or alimony the applicant is responsible for paying.The family's typical monthly allotment for food and other necessities is also subtracted. Finally, a disposable income amount for recreational purposes is taken into account. The figure remaining after these primary expenses are subtracted is considered the amount the applicant is able to spend on monthly vehicle payments. The amount the customer provides for down payment will also affect payments.The spokesperson concluded, "In many cases, we are able to find a vehicle for customers on the same day they apply for financing. We take measures to ensure our customers are able to purchase a dependable vehicle without putting themselves in a financial bind or having to sacrifice the occasional movie night or amusement park visit. As an added bonus, we report to the major credit bureaus, so those eligible for a bad credit auto loan who make their monthly payments on time can begin to work on making their credit better. It can definitely be a step in the right direction."

About J.D. Byrider
With 158 dealerships in 33 states, J.D. Byrider is America's leading used car and dealer-carried financing franchise. The company has sold more than 1 million vehicles and intends to carry on this tradition of putting customers in position to take charge of making their credit better while enjoying a reliable and affordable vehicle.