Welcome to Mike Anderson Chrysler Dodge Jeep Ram's Finance Department, your auto loan and car lease resource. We're eager to provide financing for your new car, or we can assist in used car financing.
All types of credit, from good to bad, can qualify for an auto loan. No credit, no problem! We will work with you to secure a no credit car loan if your situation demands it. Mike Anderson Chrysler Dodge Jeep Ram has strong relationships and is committed to finding you the perfect car loan company to suit your car finance needs.
Low interest car loans are available for customers with existing loans. We can help you refinance your car loan or adjust the term of the contract. You're just a step away from approved car financing!
We help individuals who have had trouble getting financing in the past due to bad credit, slow credit, bankruptcy or repossession. Our skilled automotive financial specialists will work with you from start to finish to get you approved for your next car loan. In fact, our area of expertise is in special financing programs for consumers who have experienced some degree of credit difficulties. Getting an auto loan in Connecticut doesn't have to be a difficult, frustrating process. Let us show you how easy it is to get back behind the wheel with auto financing that makes sense for your budget.
All you have to do is to make the decision, fill out our on-line credit application and our financial manager will contact you. It's that simple. When it comes to your credit, go with a name you can trust Mike Anderson Chrysler Dodge Jeep Ram of Rochester Indiana!
1702 S Main Street
PO Box 646Rochester, IN 46975
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.