" " " "

Laughing woman in drivers seat holding car keys

How Does Car Financing Work?

If you’re asking yourself, “What does it mean to finance a car?” and “How does financing a car work?”, we at Olathe Dodge Chrysler Jeep Ram are here to help. Once you’re ready to get behind the wheel of a new or used vehicle, you have a few options. You can outright purchase the vehicle, lease it, or apply for financing. Learn more about each to see which option is best for you and your financial situation. Have any questions? Contact our finance department today!

How Does Financing a Car Work?

The first step to learning how car financing works is to know what you’ll need when applying for a new or used car loan through the dealership, a bank, or even a credit union. Most applications can be started online, or you can apply at the dealership in person. Factors that the lender will look at include:

  • Credit Score
  • Loan Amount
  • Length of Loan
  • Debt-to-Income Ratio
  • Age of the Vehicle

If you have a low score or bad credit, a car loan might still be an option at the dealership. Consider asking a close friend or family member to cosign your loan. Another option is leasing. You’re more likely to get approved for a lease with bad credit, although the payments will be higher than if you had good credit history.

Choose Your Lender

If approved for a loan, there may be a few options for you to choose from when it comes to lenders. Some dealerships offer in-house financing. And if you have bad credit, this may seem like your only option; however, you can also compare this offer to that from a bank or credit union to see which makes the most sense for your needs and budget. Before this, you’ll want to keep in mind how much money you can put down as well as how much you can afford in terms of monthly payments. You can even use our online payment calculator to estimate these payments.

Finalize the Loan Terms

Before finalizing your loan and buying a car, you may need to negotiate on price. If this is the case, you and the salesperson can go back and forth until you settle on a loan with an interest rate that works for you. Once you settle on a price, be sure to look over additional loan agreements, and then you can finalize the loan terms and close the deal. After the paperwork is signed, you can drive off in your next RAM or Jeep vehicle.

Happy couple in dealership holding keys to new car with smiling salesperson in background

Learn More About Car Financing in Olathe

Get the automotive finance process started today by applying online! If you’re still in the research phase, feel free to browse our new vehicle specials and contact Olathe Dodge Chrysler Jeep Ram to talk with someone from our finance department with any questions concerning your financing needs.

Recent News from Olathe Dodge Chrysler Jeep Ram

  • 2020 Jeep Gladiator Price

    Truck lovers and Jeep enthusiasts alike have been hunting for info on the all-new 2020 Jeep Gladiator. Needless to say, the team at Olathe Dodge Chrysler Jeep Ram is constantly asked, “How much is the Jeep Gladiator?” While the 2020 Jeep Gladiator price starts at $33,545 MSRP, your Jeep Gladiator pickup truck price will vary depending on trim. The…

  • 2019 Chrysler Pacifica Configurations & Features

    The 2019 Chrysler Pacifica was recently given a Consumer Reports Automotive Best Buy award, so you know it’s an excellent family car for Overland Park drivers. But with six available configurations, it can be tough to choose the right trim level for your Springhill commutes. Explore the features you’ll find equipped to each trim level, so you can…

  • 2019 Jeep Wrangler Colors

    Drivers in and around Overland Park want to drive an SUV with serious off-road capability and distinguished style. So, needless to say, many Gardner drivers consider the 2019 Jeep Wrangler. Available in a wide range of color options, you’re sure to find a Jeep Wrangler color that fits your personality among our inventory! Explore our guide to…

Saved
Saved Vehicles ×

SAVED VEHICLES

You don't have any saved vehicles!

Look for this link on your favorites:

Save

Once you've saved some vehicles, you can view them here at any time.

Contact
Contact Us ×

913-815-8482

Call Now

15500 W 117th Street • Olathe, KS 66062

Get Directions

Today's Hours:

Open Today! Sales: 8:30am-7pm

Open Today! Service: 8am-5pm

Open Today! Parts: 8am-5pm

Olathe Dodge Chrysler Jeep Ram

15500 W 117th Street Olathe, KS

Phone: 913-815-8482

http://maps.google.com/?q=15500%20W%20117th%20Street%2C%20Olathe%2C%20KS%2066062

Parts

Phone: 913-712-0906

15500 W 117th Street Olathe, KS

Mobile Parts

Phone: 913-780-3700

15500 W 117th Street Olathe, KS

Sales

Phone: 913-815-8482

15500 W 117th Street Olathe, KS

Mobile Sales

Phone: 913-815-8482

15500 W 117th Street Olathe, KS

Service

Phone: 913-971-0182

15500 W 117th Street Olathe, KS

Mobile Service

Phone: 913-780-3700

15500 W 117th Street Olathe, KS
38.9159007 -94.7645272
[schema type="organization" orgtype="LocalBusiness" url="www.olathedodgechryslerjeep.net" name="Olathe Dodge Chrysler Jeep Ram" description="" street="15500 W 117th Street" city="Olathe" state="KS" postalcode="66062" country="US" email="achamberlain@rmlauto.com" phone="913-815-8482" logo="https://di-uploads-development.dealerinspire.com/olathedodgechryslerjeepram/uploads/2018/04/OlatheCDJROGImage.png"]
Olathe Dodge Chrysler Jeep Ram
Olathe Dodge Chrysler Jeep Ram
15500 W 117th Street
Olathe, KS, 66062 US
913-815-8482
https://di-uploads-development.dealerinspire.com/olathedodgechryslerjeepram/uploads/2018/04/OlatheCDJROGImage.png
Olathe Dodge Chrysler Jeep Ram 38.9159007, -94.7645272.