Finance FAQ | Yukon, OK
Shopping for your dream car is the exciting part — figuring out the financing for that dream car is usually more lackluster. We can’t promise you that we’ll make vehicle financing your new passion, but we can provide you with answers to some frequently asked questions to help simplify the process for you.
Before you enter into finance negotiations, you should be familiar with these basic key terms and knowledge:
- Down Payment: the amount of money you pay at the point of sale.
- Interest Rate: calculated in proportion to the total amount you borrow, the interest rate is the amount of interest paid to your loan per pay period.
- Cost: the “sticker price” of the vehicle before the total loan and interest rate are calculated.
- Length of Loan: how long it will take to complete the purchase, including interest paid to the loan.
- Credit Score: a number that represents your creditworthiness based on your credit history.
Better credit scores can make you eligible for more competitive interest rates. But, don’t let a bad credit score discourage you from seeking fair financing — especially not from Westpointe Chrysler Dodge Jeep® Ram. Our finance officers are committed to helping you get a fair rate for your new four-wheeled baby.
How to find the best interest rate
Don’t be afraid to shop around. When you’re in the market for a new vehicle, pay attention to advertisements. Or, call our finance department and speak with one of our representatives. We’re always happy to answer your questions!
Common mistakes to avoid
Some people look only at the monthly total due when considering a new vehicle. Make sure to pay attention to the overall cost of the vehicle too, along with options like gap insurance. Also, it’s a great idea to carefully examine your current financial situation, as well as future financial, before you sign a loan agreement.
For more questions about financing your next ride, contact us at Westpointe Chrysler Dodge Jeep® Ram.