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Dodge Finance Terms to Know

Trading money for a new Dodge.

Buying a new car is an exciting experience, and one we want to make as pleasant and easy as possible. If you’re looking into your Dodge car finance options, there may be a few terms you’re not entirely familiar with. We have an excellent finance department here at Cook Chrysler Dodge RAM in Aberdeen, MD, and we want to make sure you understand everything there is to know about purchasing your vehicle.

MSRP

This is an abbreviation that stands for Manufacturer’s Suggested Retail Price. When you look at a car or truck here on the lot of our Dodge dealership, you’ll see a price listed somewhere on the car—that’s the MSRP, and it includes the base price of the model, as well as the price of any additional features or packages. You may also see the MSRP referenced as the “sticker price.”

Credit Score

A credit score is a number between 300 and 850 that indicates to lenders how consistently you accrue and pay back debt. The score is based on your credit report, and includes things like how much money you currently owe, your pattern of making payments, and the length of your credit history.

The higher your credit score, the more credit-worthy you are, and the more lending institutions are likely to approve you for a loan. You may also receive better interest rates and qualify for a larger loan amount. Having a high credit score will help you get a more favorable car loan.

Pre-Qualify

If you don’t know what kind of loan you’ll be able to secure to get that new Dodge car you want, you may want to get pre-qualified for an auto loan.

To do this, you can fill out a finance application here on our website with basic personal and financial information (don’t worry—your details are secure!). We’ll review everything, reach out to our network of lenders, and let you know how much money you’re qualified to receive as a loan.

Learn More About Dodge Financing at Cook Chrysler Dodge RAM

If you still have questions, that’s okay. Buying a new vehicle is a big deal, and here at Cook Chrysler Dodge RAM, we want you to feel comfortable every step of the way. Call or stop by and our team of friendly Dodge dealers will be happy to help you any way we can.