A down payment is one of the most important factors to consider with Jeep® financing. The down payment has a significant impact on what you will ultimately pay for the entire life of the loan. Jeep financing is easy at Fields Chrysler Jeep Dodge RAM Asheville with our knowledgeable finance consultants.
What Percentage Should You Put Down?
A good rule of thumb is to put about 20% of the total cost of the loan down for your Jeep. A 20% down payment will satisfy the taxes, tags, and titling fee and apply some to the principal giving you an advantage and saving money in the long run. The more you can put down at the time of your purchase, the better.
Payment, Interest, and Terms
The larger the down payment, the smaller the monthly payment and the lower the interest rate will be. A larger down payment lowers the total amount financed which makes the total interest you will pay over the life of the loan less. Your monthly payment will also be lower with a larger down payment since you are borrowing a smaller amount overall. Choose a term that will fit your budget. Since you will be financing less, you may be able to get a shorter term as well. Your new Jeep will be all yours a lot sooner.
Get Pre-Qualified for Jeep Financing in Asheville, NC
Visit Fields Chrysler Jeep Dodge RAM Asheville to explore your Jeep financing options and get pre-qualified. Our professional financial advisors will make sure you are well-informed and answer any questions you may have. Visit us online to save time at the dealership and reserve your New Jeep with a down payment today!