Auto Finance 101: How Do I Lower My Jeep® Payment?
Life can be incredibly unpredictable, especially when it comes to finances. Signing a long-term loan may seem like a risk, especially if the monthly Jeep® payment is on the higher side. However, there are plenty of ways to lower your payment if you need to. Here are a few tips — visit us at Best Chrysler Dodge Jeep RAM for even more advice.
Choose a Longer Loan Term
If you’ve found a vehicle that you want to purchase but the monthly payments are too much for you to afford, you can always select a longer loan term before signing the contract. Be aware that a longer loan means you’ll pay more in interest over time even if the monthly payments are lower.
Consider Refinancing
One popular method for those who already have a car loan but need to lower their payments is to refinance their vehicle. Refinancing your current loan allows you to potentially get a lower interest rate depending on your current credit, or you may be able to refinance for a longer loan term that makes your monthly payments lower.
Get Ahead on Your Next Jeep® Payment
If you’ve been able to save up a decent amount of money, you might want to consider paying in advance on your loan. Doing so allows you to lower or even skip your future monthly payments when you can’t afford it.
Switch to Leasing
Another way to lower your current payment is to consider leasing a Jeep vehicle instead. Although you won’t own the vehicle after the lease is over, you’ll pay much less when compared to financing the same model.
Sell or Trade In
If you simply cannot afford the payments on your vehicle any longer, you always have the option to complete a Jeep trade-in for something cheaper. Selling your vehicle at our dealership is extremely convenient, and you’ll be able to instantly shop for something new once the process is complete.
Visit Best Chrysler Dodge Jeep RAM For Additional Information
If you have any other questions concerning Jeep payments or want to start the refinancing process, stop by our Plymouth, MA, Jeep dealership today. After you’ve talked to our financial experts, we’ll work with you to find a solution that fits your lifestyle and budget. Come see us today to learn more!