Interested in buying a new Chrysler vehicle at Cook Chrysler Dodge RAM? You can secure competitiveChrysler loans through our dealership, which allow you to get into that vehicle you’ve been eyeing with comfortable monthly payments.
How Do You Apply for a Loan?
In order to get a Chrysler loan, first you have to apply for one. Start by meeting with the experts at our Chrysler finance center. We’ll collect your basic buying criteria to help determine your eligibility. We look at your income and work history. We also consider your existing debt to determine your debt-to-income ratio. Then, we’ll pull your credit to check your credit history and score.
How Much Can I Afford?
Once we’ve collected your information, we can determine how much you can afford. Experts recommend spending no more than 10 percent of your take-home pay on your auto loan. It’s also important to keep your total debt under 36 percent of your gross monthly income. So, it’s important to consider all your finances when determining your ideal budget.
What’s Included in an Auto Payment?
Even if your total investment is attainable, you still want to ensure that your monthly payment is reasonable for you and your expenses. An auto loan calculator will factor in your total investment, a down payment, your interest rate, and your predetermined term. This is the monthly payment you will make to your lender until the investment is paid in full.
Ready to apply for a loan? Still have questions? Our Chrysler dealership in Aberdeen, MD is happy to help! Reach out to our team today for more information or to get started. We’d love to help you get into your ideal new Chrysler vehicle today!
Connect with us
