Whether you want to buy or lease a car, securing financing for your next vehicle can be a challenge. Even if you save up a sizable down payment, the chances are that you will need to take out an auto loan to purchase a new vehicle. Fortunately, car financing at your Chrysler Dodge Jeep Ram dealer is a streamlined process that can help you secure competitive funding for your auto loan.
1. Fast Finance Application and Approval
Applying for auto loan pre-approval with a bank or other financial institution can mean waiting several days or weeks for approval. However, at your dealership, the loan pre-approval process can be completed in only a few hours. The online loan application on your dealership’s website allows you to input your relevant financial information into a secure application, which is then immediately processed by the dealership.
Pre-approval for an auto loan is an important step in the car-buying process. Before you even start shopping for a car, you should know what you can afford. Loan pre-approval will give you a good idea of your budget so you can be prepared to strike a competitive deal when you visit your dealership.
2. Flexible Loan Terms
Your dealership offers much more flexible loan terms than you might find at a bank or credit union. Dealership loan terms can be short or long, depending on your budget, car ownership goals, and monthly payment preferences.
3. Credit Approval Even for Poor Credit
If you have poor credit, it might be difficult to get a loan from a traditional lender. Approval for an auto loan from institutions like a credit union or bank will rely on your creditworthiness, whereas loan approval from a dealership is much more relaxed. Many people who need to rebuild or establish credit can rely on dealership financing to find a competitive auto loan.
4. Competitive Interest Rates
Lower interest rates mean you are paying less in interest for a vehicle over the length of your auto loan. However, interest rates are closely tied to your credit score, which is why it can be difficult to get a competitive rate from a traditional lender. Your dealership, on the other hand, can find competitive rates on your behalf, so you can build a finance package that works with your budget.
5. Trade-In Deals
At the dealership, one way you can get a good deal on your next vehicle is to leverage the value of your current car. A trade-in deal at the dealership can knock off a few hundred or a few thousand dollars from your new car purchase.
If you want to enjoy a simplified finance process, then dealership financing is the way to go. Get in touch with Sisbarro Deming Chrysler Dodge Jeep Ram to discuss your financing options today.
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