Car Loan Frequently Asked Questions

Thinking of buying a new or pre-owned vehicle at Prestige Chrysler Dodge Jeep® RAM? We’re answering our frequently asked questions about car loans to help you prepare.

Should I Lease or Finance My New Car?

There are benefits to both leasing and financing.

• Leasing – lets you get into a new vehicle more affordable than financing one. That means newer designs, technology, and features. Also, they are typically covered under warranty during your lease.
• Financing – it’s your vehicle. You can customize it however you’d like and drive it as much as you want. Plus, once you’ve paid off your loan, you can be living without a car payment and have equity in the future as a trade-in.

Does My Credit Matter?

Lenders look at credit scores when determining if you qualify for an investment. A lower score can make them more hesitant to work with you. It can also mean a higher interest rate on your loan. However, at our dealership, we work with credit scores of all ranges and even customers with no credit at all.

Do I Need to Get Preapproved?

Getting preapproved online is not a necessity. However, it is helpful to ensure that there won’t be any surprises when it’s time to apply. You can conveniently apply online on our website anytime.

What is My Trade-in Worth?

Your existing vehicle can serve as a sizable down payment for your new vehicle. This can drastically help lower your total car loan. Plus, in Nevada, you only pay sales tax on the remainder of your investment, and not the total cost. We can quickly and conveniently give you a trade-in value estimate online. All it takes is two steps and ten seconds of your time.

Want to learn more? Reach out to our Las Vegas car dealership today!