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Interest Rate Factors for Buying Vehicles.

If you are considering purchasing a new or pre-owned vehicle, you are probably wondering what your interest rate will be.

Many people ask is “What is my interest rate?” This is a fair question and a very difficult one to answer without further information. There are many factors that go into answering the question “What is my interest rate?”

Interest rates are determined by the bank that is going to provide the loan for your vehicle. The dealership has no power over interest rates.

Here is a list of items that can and may affect the interest rate you pay:

  • Credit Score

  • Year of vehicle being purchased

  • Term of the loan

  • Income

  • Other auto loans

  • Age

  • Money Down

  • Negative equity from trade

  • Advance on new loan

  • Bank being used

  • Type of vehicle purchased

  • New or used vehicle

  • Time on the job

  • Time on the residence

  • Amount of revolving credit

  • Credit Utilization

  • Late payments

  • Collections

Legacy Dodge works with all banks that deal with credit from exceptional to very bad. If there is a way they can make it work, they will. Sometimes dealerships run into people who have had some bumps in their past .If you have some credit issues Legacy Dodge can help you rebuild your credit. Legacy Dodge has a great finance and management team with years of experience in the financing field.

Let your Legacy start at Legacy Dodge in Fort McMurray, Alberta.

Sales Team

Legacy Dodge

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