It can become overwhelming to buy a new car. The Chrysler financing process, particularly, can be confusing, especially if you’ve never bought a car before. We’re addressing our frequently asked questions at Cook Chrysler Dodge RAM to help you feel more confident about your purchase.
How Do I Get Preapproved?
It’s a good idea to get preapproved for financing so you don’t get any surprises during the financing process. You can easily get preapproved on our website. We’ll collect your basic buying criteria to see how much you can afford. We consider your income, your existing debt, and pull your credit report to get your credit score and history.
What’s My Auto Payment?
Even if approved for the investment you want, you still want to make sure you are comfortable with the monthly payment. An auto payment calculator can give you an estimate of your payment. It factors in your total investment, your down payment, and the term for your investment. It also factors in your interest rate, which is the direct fee you will pay to your lender for your loan.
Should I Buy or Lease?
Is your payment too high? You may want to consider leasing a vehicle, which helps you get into a new vehicle more affordably. When leasing, you agree on a predetermined term to “borrow” a vehicle. Then, at the end of the lease (typically two to three years), you simply return it.
Keep in mind, there are mileage restrictions with a lease, and you can’t customize your vehicle. If that’s something that’s important to you, you may want to consider buying instead.
There’s no need to fret about the financing process at our Chrysler dealership in Aberdeen, MD. Our team is happy to help every step of the way!
Connect with us
