Do you have questions about financing? Our Chrysler dealership will help you answer them. Here are four we commonly get:
How Does Financing Work?
This is a question many first-time car buyers have. When you finance a vehicle, this just means that you are borrowing money to pay for it, so it involves taking out a loan. One of the first things to do is figure out how much money you have for a down payment. Then, you can subtract that from the price of the vehicle (or the amount you want to spend), to figure out how much the loan will be.
Will My Credit Score Be a Factor?
This is another area people often have concerns about. Your credit score will play a role in the financing process. Lenders will use it to determine what your interest rate will be. You shouldn’t, however, be dissuaded from applying for a loan just because you don’t have the best score.
How Long is a Car Loan?
The length of car loans – also referred to as the loan term – vary. You may be able to get one as short as a couple of years or as long as six or seven. Most people opt for one between three and five years. This is beneficial for a number of reasons. First of all, stretching it out over that time can give you very reasonable monthly payments. It will also prevent you from having to pay a lot of extra interest when the loan is longer.
How Can I Start the Financing Process?
At Gesswein Motors in Milbank, we aim to make the financing process as easy as possible for our customers. You can start it right now by filling out our online credit application. Once it’s submitted, we’ll be in touch to discuss the next steps.