Tips for Securing a Lower Interest Rate on Your Auto Loan

If you find yourself wondering, “How can I lower my car loan interest rate?”, then you can find all of the answers with Jacky Jones Chrysler Dodge Jeep Ram. When you visit our finance department, we can walk you show you how to get a lower interest rate on a car loan and everything in between. Read on to learn how to lower your interest rate and get on the Blairsville roads with confidence.

Getting a Lower Interest Rate on Auto Loans

Can you lower your interest rate on a car loan? Absolutely! To get the best deal possible on monthly payments, follow these steps:

1. Know Your Credit Score: If you pay your monthly bills on time, then there’s a good chance your credit score has improved. The higher the credit score, the more likely you are of getting approved for lower interest rates.
2. Boost Your Credit Score: If your credit score is lower than you are comfortable with, then you may have to hold off on trying to lower interest rates. Once you pay some other items off first, your credit score will go up. This will give you a better chance of getting a lower interest rate.
3. Look for Refinance Loans: Compare the range of interest rates to see what is average for your credit score number. Compare the numbers from multiple lenders to see which place can give you the best deal.
4. Get a Cosigner: If you have bad credit, getting a cosigner to sign for your loan might aid in getting you a lower interest rate on auto loans.
5. Think About In-House Financing: When you choose in-house financing, this means you are making payments to the dealership instead of the bank. Making your payments on time will help raise your credit score. Jacky Jones Chrysler Dodge Jeep Ram can help you determine your monthly payments with our easy-to-use payment calculator.

What’s the Best Interest Rate?

Your credit score compared to the amount of your loan will have a large impact on the interest rate you receive. Interest rates can often be negotiated, and Gainesville drivers can find rates ranging from as low as 3.2% to as high as 12.9%. Here are the estimates of rates based on credit scores:

• Credit Score: 800 – 740 – Interest Rate: 3.2%
• Credit Score: 739 – 680 – Interest Rate 4.5%
• Credit Score: 680 and below – Interest Rate: 6.5% – 12.9%

Lower Your Interest Rate with Jacky Jones Chrysler Dodge Jeep Ram

Now that you know how to get a lower interest rate on a car loan, the next step is to visit Jacky Jones Chrysler Dodge Jeep Ram to find the best deal possible. We’re in Cleveland, but you can contact us online to help you get the process started. Let us help you get on the Dahlonega roads with confidence!