5 Auto Financing Questions You Should Know

One of the best advice to have in consideration if you are about to make the decision of purchasing a car is to be absolutely sure that it is actually within your budget. At Mike Smith CJDR when it comes to auto financing, we excel to make the process as easy and transparent as possible; that is why we strive to provide you with the information you need to have a basic understanding of the overall process to get the car you are looking for.

Auto Financing Questions You Should Know

1)Can I Get Approved For A Second Car Loan?

While it is certainly not impossible to get more than one car loan, there are several factors lenders look for when considering financing two or more vehicles at a time:

  • Your credit history
  • Your debt to income ratio
  • Whether you have a cosigner
  • How long you have had your current car loan

2) I’m A First Time Car Buyer, Do I Need A Co-Signer?

Co-signers are not mandatory for first-time car buyers. It really all depends on your credit history and income. That said, it’s never a bad idea to have someone in mind as a co-signer in case you do need one.

3) Can I Get A Car Loan After A Repo?

You may be surprised by this answer, but in most cases, it is possible to get approved for another car loan after you’ve had a repossession. You’ll most likely need a co-signer or a substantial down payment but there are always options for auto loan approval, even after a repossession. For more details, speak to the dealership’s financing manager.

4) Who Has The Best Rates; Car Dealers or The Bank?

In most cases, the car dealership’s interest rates are as good as, and sometimes even better than, the rates you’d get at a bank or credit union. Car dealers use the same banks you have access to, as well as other auto loan lenders. With the lending options, dealerships have available to them, you’ll actually have lenders ‘fighting’ over your loan instead of the other way around.

5) Does Mike Smith CJDR Finance Bad Credit?

Yes. It’s actually easy to get approved through Mike Smith CJDR finance programs. Most car manufacturers are eager to help their customers build or rebuild their credit by offering financing programs and deals exclusively through Mike Smith CJDR dealership.

Final Tip

By following and learning the answers these question about Auto Financing, you’ll be set to make the best financial decision to get the car and loan that cover your expectations. It doesn’t harm to be prepared whenever you’re ready to buy a car.

These are general documentation requirements. For answers more specific to your circumstances, our dealership’s financing team can answer all of your questions and concerns more accurately.

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5 Auto Financing Questions You Should Know in Beaumont City TX 77701

How to Get Approved for a Car Loan | Mike Smith Chrysler Jeep Dodge Ram

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1945 Interstate 10 S • Beaumont, TX 77701

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Mike Smith Chrysler Jeep Dodge Ram

1945 Interstate 10 S Beaumont, TX

Phone: (409) 840-3560

http://maps.google.com/?q=Mike%20Smith%20Chrysler%20Jeep%20Dodge%20RAM%2C%20Beaumont%2C%20TX%2077701

Parts

Phone: (409) 840-3571

1945 Interstate 10 S Beaumont, TX

Mobile Parts

Phone: (409) 241-9424

1945 Interstate 10 S Beaumont, TX

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Phone: (409) 840-3550

1945 Interstate 10 S Beaumont, TX

Mobile Sales

Phone: (409) 241-9565

1945 Interstate 10 S Beaumont, TX

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Phone: (409) 840-2649

1945 Interstate 10 S Beaumont, TX

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Phone: (409) 241-9395

1945 Interstate 10 S Beaumont, TX
30.05787 -94.13653
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Mike Smith Chrysler Jeep Dodge Ram
Mike Smith Chrysler Jeep Dodge Ram
1945 Interstate 10 S
Beaumont, TX, 77701 United States
(409) 840-3560
https://di-uploads-development.dealerinspire.com/mikesmithchryslerjeepdodgeram/uploads/2017/09/MikeSmithCDJROGImage.png
Mike Smith Chrysler Jeep Dodge Ram 30.05787, -94.13653.