Common Dodge Financing Terms
When it comes to Dodge financing, Helfman Dodge Chrysler Jeep® RAM FIAT has you covered. The more you know, the more confident you’ll feel on every step of the new vehicle purchasing process, which is why Helfman Dodge Chrysler Jeep RAM FIAT is sharing a closer look at common financing terms, including the following.
The down payment is the amount of money you give to the dealership the day you take your vehicle home. The more money you are able to put down, the faster you’ll be able to pay your vehicle off, so it’s a good rule of thumb to put down at least 20 percent of the total vehicle value.
Your credit score is one of the most important factors to consider when financing a new Dodge vehicle. It tells the lender if you are a safe borrower, which is why a higher credit score will mean more favorable terms. It’s especially important to raise your credit score if you’re planning to lease a vehicle.
A lease is a good option for those who want lower monthly payments or less of a long-term commitment. You’ll have a car for two to five years before you return it. A Dodge lease will give you access to the latest models on the market.
One way to save on the next car is to trade in your current model. Our dealership offers a Dodge trade-in value estimator to get you started. The value of the trade-in will go toward the down payment, and your sales tax will be calculated after the trade-in value has been deducted.
Interest is the cost of borrowing money. It’s what the lender charges in order for you to take out a loan. To ensure interest costs don’t add up, it’s useful to put down a higher down payment, to pay your vehicle off quickly, and to try to make more than the minimum monthly payments.
Dodge Financing Support at Helfman Dodge Chrysler Jeep RAM FIAT
No matter what your Dodge financing or ownership needs might be, Helfman Dodge Chrysler Jeep RAM FIAT is here to help. Pick out the perfect Dodge vehicle and meet with our expert financing team today.