How Much Should I Invest on the Down Payment of My Car?
Down payments help ensure financiers
that you are able to sufficiently pay off future payments on a loan. Customers
with bad credit scores should invest a large down payment if they need help for
loan approval. A larger down payment can also help car buyers receive better
terms on their loan so they end up paying less money in the long run. Although many people with great credit
scores can occasionally opt out of any down payment, our finance team advises
car buyers to invest at least 20% of the total value of the car as a down
What Is APR and How Does It Affect My Monthly Car
APR stands for annual percentage rate of
charge. The rate is reflective of a person's credit score, and it will
determine a person's interest rate on their car loan. A person with a great
credit score will have lower APR rates and therefore, pay less each month on
their car payments. A lower credit scores means higher APR rates, so the
customer will pay more each month.
What Should I Set As My Payment Term?
If you want to pay off your car quickly,
set your term payment to a shorter time frame. Each monthly payment will be
larger, but you will save money in the long run. If you need more time to pay
off your vehicle, set your loan to a longer term so you have more payments at a
What If I Want to Sell My Car to Help Invest in My New
If you sell your car, you can use that
money to invest on a down payment for your car. Once again, the more money you
put on a down payment, the better your financing rates will be on your loan.
Get a quick 15-MinuteTrade Appraisal
on your vehicle and see how much you
can earn for your next car. Call our sales team (855) 782-7043 to learn more
about how we can help you.
Use Our Payment Calculator Today and Stop by Commerce
CDJR Serving Athens, Ga for Financing Solutions
Try our free payment calculator today!
Search our new or pre-owned inventory and start planning your next car purchase
with Commerce Chrysler Dodge Jeep RAM serving Greater Athens Georgia, Gainesville Georgia, Jefferson Georgia, the Buford area & Greenville South Carolina Areas. Contact Us
online for any questions on a car or speak to our sales team directly. Call
(855) 782-7043 for help. See you at our Commerce Georgia dealership soon!