Learning Essential Chrysler Financing Terms
When you get the help of our expert car dealers and our friendly Chrysler financing team, you’ll get to relax and have fun during your car search. Not only do we make it easy to finance your new Chrysler car online, but you can also count on our team here at Griffin Chrysler Dodge Jeep® RAM to give you expert guidance during the buying process.
To help get you prepared for financing your car, here are some essential finance terms to know.
Important Finance Terms
When you start the process of financing your vehicle, you’ll likely hear many of these common terms:
Finance: Yes, we’re starting off with the basics here. Financing simply refers to the process of borrowing money from a lender that you will pay back, plus fees, to make your car easier to pay for.
Lease: A bit different from financing, leasing is a way to drive home in a new car you can drive for a set period of time while making relatively low payments.
Term: Not to be confused with the other kind of “term,” a loan term refers to how long you’ll take to pay back your loan. So, if you choose to take 60 months to pay back your loan, then you’ve chosen a 60-month term.
Interest Rate: The fees you pay to your lender in exchange for them letting you borrow money comes in the form of an interest rate. This figure is represented as a percentage of the actual price of the car you buy.
Our Finance Center
Our finance team at our Jefferson Chrysler dealership is dedicated to your satisfaction. We work closely with quality lenders who can help you secure a loan approval at a good rate, even if you have little no credit. However, you most likely won’t even run into any difficulties at all when you apply for financing. In fact, you can get pre-approved right from the comfort of your home by using our convenient digital application.
Our website also offers convenient features to help you budget your car purchase, such as our payment calculator and Edmunds trade-in appraisal portal. Explore our website today to get started with the financing process and feel free to contact our dealership if you have any questions.
We look forward to helping you get your car loan approved!