If you're in need of a new car, but haven't gone through the car-buying process yet, you might feel a bit overwhelmed about the financing. Follow these steps and you'll be well on your way to driving home the car of your dreams.

1. Get to know your credit. 

Request a free credit report and make sure everything listed is accurate. If you spot a problem, get it resolved as soon as you can. You also want to resolve any potential risk factor you might have like credit sent to collections.

2. Set a budget. 

Look at your incoming and outgoing money to see how much you can afford. Don't forget to include costs like insurance, fuel and maintenance.

3. Apply. 

Visit your local bank or credit union and see what rates they can offer you. You can also apply at the dealership; it won't hurt your credit and you might get a better offer.

4. Be prepared for rejection. 

If you do get rejected for a loan, your life isn't over. In fact, that rejection may have saved you from taking on more than you can actually handle, financially. Reassess your financial situation and try putting more into savings or pay off some debt until you're in a better place.

5. Have a down payment. 

If you do get approved for a loan, bring a down payment. You should have at least 20% for a new car and 10% for a used car. The more you have for your down payment, the better off you'll be when it comes to financing.

 If you need any help in any part of your financing, give us a call at Corwin Dodge Ram of Springfield. Our knowledgeable financing department will be glad to lend you a hand.


Corwin Chrysler Dodge Jeep Ram of Springfield

1025 W Sunshine St
Directions Springfield, MO 65807-2445

  • Sales: 4178126737

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