Financing a car can seem like a complicated and confusing process. That's why the Mac Haik Dodge Chrysler Jeep Ram team is dedicated to assisting you every step of the way! From the moment you set foot on our lot until you drive off in your new ride and throughout your ownership experience, we'll be there for you.
Ronald Tucker, our General Sales Manager, gets questions about auto financing all the time. That's why he is sharing his knowledge with you in these helpful auto financing FAQs! Check out what our very own Jeep finance expert has to say about car loan rates, the auto financing application process and more, then head to our Ram dealership in Houston to speak with him and his team in person.
Auto Financing Frequently Asked Questions
What are the current interest rates to buy a car?
In general, 4.9% is currently the lowest interest rate in the market.
How do I get a good interest rate?
You can get a good interest rate by maintaining above average credit, which is +700 FICO.
How much of a down payment do I need to finance a car?
While a down payment isn't necessary, 20-30% of the Sale Price is recommended.
What additional costs will I be responsible for when buying a new car? Taxes & license fees? Fuel & maintenance?
You will be responsible for taxes, titling, licensing, fuel and routine maintenance.
How can I find the value of my trade-in?
You can find out how much your car is worth by clicking on our Value My Trade link. Our experienced buyers are on standby!
Does my credit score impact my loan rate?
Yes, your credit score will impact your auto loan rate.
I have a low credit score -- can I still finance a car?
Yes, you can still finance a car with a low credit score.
I don’t have a credit history yet -- can I still finance a car?
Yes. Financing a car is actually a great way to establish credit.
What’s the best length for a car loan?
72 months is standard in today's market, but we have other loan term options as well, depending on your budget and needs.
Can you offer a better interest rate than my pre-approved rate?
Yes, we may be able to offer a better interest rate than what you're pre-approved for.
Can I reduce my monthly car payments down the road?
Yes. Our finance team may be able to help you reduce monthly car payments.
Can I sell my car while I’m still paying it off?
Yes, you can sell a car that you still owe money on.
Can I add a warranty when I buy a car?
Yes. Ask our team about extended car warranty options.
For more information about APRs, credit scores and first-time car-buyer loans, contact Mac Haik Dodge Chrysler Jeep Ram. Ronald Tucker or another member of our expert auto financing team will be happy to answer all your questions and walk you through the ins and outs of securing a car loan with a good interest rate!
