At Checkered Flag Chrysler Dodge Jeep Ram (CDJR), we love to help folks in the Newport News area get behind the wheel of a great car. Our finance team is ready to assist you and be a trusted source for your financing needs. We understand the importance of choosing the right financing option and are here to help. We’ll make the process smooth so you can focus on the road ahead.
Several financing options are available, each with benefits and considerations for interest rates, monthly payments, and ownership.
A significant advantage of taking out a loan for your new vehicle is not having to wait until you can save enough money for the whole purchase. With a loan, the lender advances you the money for your new car. You typically spread your payments over the next 36-84 months. And regular monthly payments are a great way to boost your credit rating.
While you pay off your loan, you can customize the car. And, unlike with leasing, you don’t have mileage restrictions. You may pay more for your vehicle in the long term because of interest than if you were to purchase it outright. And depending on the interest rate and the car’s price, your monthly payments could be high. But you’ll fully own the vehicle once you pay off the loan. You can drive it for as long as you like, pass it on to your children, or trade it for a new car.
Leasing ensures you aren’t stuck with a car if you want to try something new. Many choose to lease because they can regularly upgrade their vehicles to fit a changing family size or keep up with technological advances. And you don’t have to worry about depreciation.
When you lease a car, you don’t own it. So there are restrictions on what you can do with the vehicle, such as mileage limits. Monthly payments on a vehicle lease are usually less than auto loans. While you don’t pay interest on the lease directly, the interest rates the dealer pays may affect the cost of the lease.
Refinancing an auto loan means modifying the loan terms while making payments toward the vehicle’s purchase. At the end of the loan term, the vehicle belongs to you. Refinancing helps get cash from your car’s equity with a cash-out auto refinance loan. Depending on your needs and credit, refinancing can help you reduce the interest rate, loan term, or monthly payments.
Financing with Checkered Flag CDJR gives us many ways to help you. Our competitive interest rates and special financing programs allow you to keep costs down. Our flexible repayment terms ensure you can stay within your budget. We strive to make the process quick and easy. You can even use our online pre-approval form to see what you qualify for before you stop by.
If you have excellent credit, we offer a great new vehicle annual percentage rate and competitive used vehicle rates. We’re also happy to work with you even if your credit isn’t so good. Our partnerships with various lenders let us give you a range of options, so please feel free to call us.
There are a few steps you should follow when you’re ready to finance a new or used vehicle at Checkered Flag CDJR. From the time you walk in until you drive away, we make the process streamlined and efficient.
A good credit score is helpful when financing a vehicle. The stronger your credit history, the better loan terms you may qualify for. At Checkered Flag CDJR, we work with customers with various credit scores. We’re happy to work with you even if your credit could be better.
Preparing a down payment of 10%-20% of the vehicle price is a good idea. The more you pay upfront, the less interest you usually need to pay by the end of the loan, but it’s important to ensure it fits within your budget.
Several factors determine your interest rate, including the wider economic environment, whether the car is new or used, your credit score, the size of your down payment, the length of your loan term, and the type of lender.
No. Pre-approval doesn’t guarantee your loan. It’s different from being approved for an auto loan. Pre-approval is a great way to get an idea of the types of terms you qualify for, and you can bring your pre-approval to the dealer as a tentative offer.
At Checkered Flag CDJR, we know the ins and outs of auto financing. We’re always happy to help you explore your options and choose the best one with thoughtful, personalized assistance. We take care of the paperwork, keeping things simple and taking the stress out of the process. Please stop by today, contact us online, or give us a call to get started.
Whether it is perfect or not so great, we can custom design the right financing package for your next vehicle purchase.
The Checkered Flag CDJR loan process can help you find the best interest rate for your next vehicle purchase.
Try our FREE credit application today!
Great New Vehicle APR!*
Competitive Used Vehicle Rates*
We have hundreds of new and used Chrysler, Dodge, Jeep, Ram vehicles for immediate delivery and access to some of the lowest interest rates in the business. *Rates subject to change. Please see dealer for up to date rates.
Due to our special arrangements with local and national lenders, we can help you get the new or used vehicle you deserve. Whether your past credit is near perfect or not so perfect, we can help!
Complete our FREE credit application and our team of finance professionals will begin working for you. We have hundreds of Chrysler, Dodge, Jeep, Ram, Wagoneer vehicles currently available for immediate delivery.
Have you been turned down before? We can help. We have programs to help you get into a car and rebuild your credit. We are able to overcome most credit problems.
To get started, fill out our FREE credit application
Once the application is completed, the Checkered Flag CDJR finance team will put together a loan package that is tailored specifically for you.