Just a pointer here, if you end up using Chrysler Capital for financing and the interest rate is higher than what you can get elsewhere, often it is beneficial to still take the captive financing to get the rebates then re-finance later. I'll have to look at the rebates.the one dealer I talked to said I'd have to finance it through them. I didn't know one HP would good for multiple lenders.that's good to know. The 3.74% was just an estimate from the credit union. I meant to say I have one pull from a year ago for a credit card. I think your score should be fine to get you approved if you have the income for it. They should be able to tell you what score you need to qualify for the best rate. Then call the dealership and ask for a finance manager. You should be able to go on their website and they usually will advertise their best rates or promo rates. I think its usually something like get the rebate or get the special/promotional financing rate. Those jeeps can get believe the rebates should apply with any lender. I have seen cases of low interest rates for longer terms though.
The promotional financing is usually better rates than what the bank offers but I think in a lot of cases it's for shorter terms. Just double check with them before you sign anything. I Want to say most lenders will allow you to make payments to the principal to pay off early and save on interest. Not sure exactly what that window is, a month I think? So long as its within a specific time frame. When you do go to apply you should be able to have your credit pulled for a car loan multiple times without it impacting your credit. Your bank and the dealer will both want a credit report. Also which bureau they will pull.Īs for the multiple pulls on your credit, are you saying you applied recently with your bank and plan to apply again in 13 months? If so, then I'm sure your going to get another HP regardless of who you go with.
I believe the rebates should apply with any lender. Thanks for all the help! I'm a finance major so I really enjoy the details. Do they usually structure the loan so that you can pay the principal off and save on the interest for an early pay off? Or do they fix the interest amount and you pay the same no matter when you pay it off? Would having two inquires on my credit look bad in this short of time look bad? (last one was about 13 months ago)Ģ. That makes me wonder what about getting the loan through Chrysler, then after having it for 6 months (the minimum time to get the rebate) refinance it? I have two main concerns.ġ. Obviously with the rebates they're likely making up the difference with raising the interest rate. The dealers won't even discuss interest rates without saying "fill out an application". Does anyone know roughly want they're financing at? My score is about 720, a local credit union will give me a 5 year loan at 3.74%. I've started doing some research and it seems like most of the rebates are only available if you finance through Chrysler Capital. Looking at getting a new Jeep shortly for my college graduation gift for myself.
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