When it comes to making an expensive and critical purchase like a home or vehicle, you may need to use financing instruments, and it would be crazy not to investigate or ask the right questions. Island CDJR understands that entirely, which is why we thought you would like to know these five questions to ask when financing your next vehicle:
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What’s the vehicle going to cost?
It may not take much effort to look up what a car costs a car either on a dealer website or going to the dealership and browsing the sticker prices. The more sophisticated buyer knows the market value of a vehicle and others in its class. There is something called the MSRP, which abbreviates manufacturer’s suggested retail price. It’s based on several factors, but you’ll want to research that value for any car you buy and see what the dealer is asking for in relation to it. As you can see from our inventory, many of Island CDJR’s vehicles are priced at or below the MSRP.
Am I approved for that much?
Answering this always depends on various factors such as income, debt-to-income ratio, and credit history. For more information on this, visit our credit application page. This will give you an idea of what goes into the process of obtaining an auto loan.
Can I really afford it?
This is where it might help to utilize a payment calculator or ask your dealer directly for assistance. It involves a little number crunching, but if you can get things squared away with Question # 2, then this should work smoothly.
What if I can’t afford it?
Some folks are wary of too high of a monthly payment. They might elect to submit a higher down payment or simply search the market for a more affordable vehicle. Our more premium Jeep models come with a higher price tag, but there are so many used models that are even more affordable and still amazing to drive.
Buy it or lease it?
Leasing has become more popular these days. This means you don’t have to outright own a vehicle. This lends itself to lower monthly payments, but you’ll want to configure a good financing program if your goal is full ownership.
Island CDJR hopes you found these questions and answers thought-provoking. We’re happy to dispel all mental barriers that might be plaguing your thought processes as you search for a vehicle. If you have any questions for us regarding our vehicles for sale or how to finance/pay for them, feel free to call us at 877-711-3310 or contact us over the web.