At Executive Dodge Jeep®, your Wallingford Jeep dealer in Connecticut, we’d like to explain the ins and outs of car financing to remove any trepidation our customers might have about the topic.
First off, there is sometimes confusion about what car financing actually is. When you finance a car, you are taking out a loan for the full price of the car, and then paying back the institution you borrowed from. Your monthly payments are for the loan, not the car, a small but significant distinction.
Financing truly begins while you are trying to decide which vehicle you want to purchase. At this point, only you know the particulars of your finances, what you can and can’t afford. Once you’ve balanced that with the qualities you desire in your new car, you’re ready to move on to the application process. Our online payment calculator can be an invaluable tool in accomplishing this.
You’ll find the application in our Dodge finance center. It is important to be as accurate as possible.
There can be the temptation to inflate financial capabilities out of pride or fear of denial. There are two major problems with this. 1) It probably won’t work, seeing as information like your credit score is obtained independently. 2) Even, if it does work, it could put you in a situation you are unequipped to deal with, as the terms of your loan are based in large part on your ability to repay them.
Should your application be approved you’ll receive your down payment amount and find out how much you’ll be expected to pay monthly. Once you’re all paid up (most often with interest), the car will be all yours! Executive Dodge Jeep is happy to answer any further questions you may have on the subject of financing.