Thinking about financing your next new vehicle? There are a few things to keep in mind before you start the Jeep® financing process at Ourisman Chrysler Dodge Jeep RAM of Bowie.
What is My Credit Score?
Your credit score can play a major role in your financing approval. While a low score isn’t a deal breaker, a higher credit score can result in a lower interest rate. Therefore, it’s a good idea to try to improve your score before you buy, if possible.
How Much Am I Approved For?
Our financial experts will collect your basic buying criteria to help determine how much you qualify for.
- Income and work history
- Debt-to-income ratio
- Credit score and history
What Will My Car Payment Be?
While you may be approved for the amount you were hoping, you still want to make sure the monthly payment works for your budget. An auto payment calculator uses your total investment, your down payment, and your interest rate to help you calculate how much you’ll owe each month.
Should I Finance or Lease?
Wondering if financing is even the best option for you? Perhaps you want to consider a lease. Leasing new Jeep vehicles is beneficial for buyers interested in consistently upgrading their vehicle to a newer model and technology. Plus, leasing is usually more affordable than financing too.
How Much is My Car Worth?
Another valuable tool in financing your car is your existing car itself. You can use your trade-in value as a sizable down payment for your next purchase. That can give you less to finance, saving you lots in interest over the course of the loan.
Still have questions? Visit our Jeep dealership in Bowie, MD to speak with our financial experts. We’re happy to help!