#JEEP FINANCING PLUS#

As you make your payments, it's like putting money in a savings account. The cash value, or 'equity,' is real money you can use someday to buy your next car. With a car loan, you're gradually building up cash value in the car and that cash has your name on it.

Why a car loan is nearly always better for you than a lease

You're basically renting but never owning a car. If you want another new or used car and you want to keep leasing, you have to start all over again. When your lease is over, you have to give the car back to the car dealer. But with a lease, you are not buying the car and you will never own it. You pay every month for a certain period of time - usually 36 months - to get the right to drive the car.

#JEEP FINANCING PLUS#

Your monthly loan payment also includes the big part - the cost of the car - plus other fees, but that's basically how the 'APR' part works. Remember this is an over-simplified example and that's only the interest portion of what you're paying for your loan. If you pay an APR of 5%, that means you'll pay 5% x $10,000 = $500 each year to the lender. To give a very simple example, let's say you borrow $10,000 for a car. When you hear about 'APR,' it's referring to an 'Annual Percentage Rate.' That's the amount of interest a buyer from Frederick or Tysons Corner, VA pays the lender to borrow money, and it's boiled down to an annual percentage rate. 'Interest' is the money you're paying for the privilege of getting a loan. What does 'APR' mean?Ī car loan, of course, is a financing arrangment where someone loans enough to someone else to buy the new or used car they need. We can tell you more but here's why we believe a loan is almost always a far better financing choice than getting a lease. At Dulles Chrysler Dodge Jeep Ram in Leesburg, VA, we can make financing your next vehicle a lot easier and help you make a good 'money' decision: One that will help you build a stronger financial future. Shopping for a new or used car can be fun, but the process of paying for that car might seem confusing or intimidating. a lease: Why getting a car loan is a much better option

Jeep financing