Car Loan for Chrysler 2023

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If you’re looking to finance a Chrysler, you can either go through a dealership to get your loan with Chrysler Capital, or you can go the traditional route with a bank or credit union. Choosing to get your loan from the dealership is more convenient, but you’re likely to get better loan terms and customer service elsewhere.
Between their popular minivans and sedans, Chrysler vehicles are especially favored among families. When buying a car that serves your family well, you’ll also need a car loan that fits your family’s needs.
With dozens of auto financing options out there, it’s tough to choose. That’s why car insurance broker and loan expert Jerry is here to break down all the options for a Chrysler loan.

How to get a Chrysler car loan

Whether you’re looking to buy a brand-new Chrysler 300 or a gently used Pacifica, getting a Chrysler loan should be fairly easy.
The first step is to check your credit. Then, you’ll want to compare loan rates for at least three different lenders. When you find the best deal, try to get preapproved for a loan.

Check your credit

It’s important to check your credit score before you start searching for a loan since your credit score is key to your loan terms, including interest rates. Any score over 600 is typically considered a good credit score for an auto loan.
If you’re purchasing through a dealership, though, you can qualify for a Chrysler auto loan if your credit score is above 640. If you have low or no credit, Chrysler Capital may be willing to help put you in a better position to buy. If you don’t have credit, you’ll need a significant cash down payment to be considered.
Check out the table below to see the average APR and monthly payments for different Chrysler vehicles based on your credit score:
Car MakeAverage Annual Interest RateAverage Monthly Payment

Compare lenders

When you have a sense of the type of loan you qualify for, you’re ready to choose a lender. You can either choose to get a loan through your bank, a credit union, or the dealership if you’re purchasing your car from a dealer with Chrysler Capital.
Remember to compare offers from three lenders minimum before deciding on a loan. Be on the lookout for:
  • Short loan term: 60 months or less
  • Low APR: 4.93 percent or lower
  • Manageable monthly payment: No more than 10 to 15% of your monthly income
Numbers aren’t the only criteria—customer service is also crucial! Even the best lender with low payments and good approval odds can’t make up for shoddy customer service. If a lender is difficult to reach or other customers leave bad reviews, they probably aren’t the best option.

Get preapproved

When you get preapproved for your loan, you may have the ability to negotiate a better purchase price for the vehicle you want. Getting preapproved for your car loan allows you to come to the table with a budget. The dealership will either be able to work within it or not.
Chrysler Capital allows buyers to apply online for preapproval. Many other lenders do, too. In order to get preapproved, you have to fill out a loan application and provide the following information:
  • Social Security number
  • Employment documents
  • Driver’s license or other photo ID
  • Income documents (paystubs, etc.)
Key Takeaway To get a Chrysler car loan, check your credit rating first. Then, compare lenders and try to get preapproved to negotiate a better purchase price.

Average loan term for a Chrysler car loan

Choosing a loan term is a major step in auto financing. Most car loan terms in the U.S. are currently 72 months, or six years. Just because it’s common doesn’t make it the best loan term, though.
Try to get a repayment term of 60 months or less if you can afford it. Finding a lender that allows you a shorter loan term will allow you to pay off your loan faster, as well as pay less interest. Your monthly payments will be more, but a shorter loan term saves you money in the long run.
If you’re financing through the dealership, Chrysler Capital offers loan terms up to 84 months. Financing through Chrysler comes with the benefit of not having a prepayment penalty, so you can pay off the loan early without incurring extra fees.
Check out the table below to see what your monthly payments and interest rate may look like with your loan term.
Loan TermsAverage Annual Interest RateAverage Monthly Payment

Finding a Chrysler car loan in your state

Just like every car-related expense, car loan payments and interest rates are different in every state. Search out a lender that has a good grasp on what’s normal in your area and will provide you with the lowest APR based on your credit score.
The table below can give you a good idea of what you could pay for a Chrysler car loan in your state:
Credit RatingAverage Annual Interest RateAverage Monthly Payment
Very Good5.16$341

Chrysler car loans: new vs. used

Whether you’re getting a car loan for a new or used Chrysler, your loan offers will vary depending on the age of your vehicle. For example, most banks only approve loans for new and used vehicles that are up to 10 years old.
You’ll probably have a higher APR for used cars, but the total loan amount will likely be smaller, so your high interest rate would even out.
If you want to get an idea of how your car’s age may affect your loan, monthly payments, and APR, check out the table below.
Car YearAverage Annual Interest RateAverage Monthly Payment

How to calculate the costs for a Chrysler car loan

Regardless of what type of Chrysler you’re looking to finance, your APR and monthly payment amount depend on your credit score, loan amount, and location. By using Jerry’s car loan calculator, you can see what you could be paying with a Chrysler car loan!
Average Annual Interest RateAverage Monthly Payment

Save money on Chrysler insurance with Jerry

Whether you go with Chrysler Capital, a bank, or a credit union to finance your Chrysler, you can always count on Jerry to find you the best insurance rates for your new set of wheels. As a licensed broker, comparison shopping tool, and car super app, Jerry can help you throughout the entire car-buying process.
When you download the app, all you have to do is answer a couple of quick questions. Then, Jerry searches and compares insurance quotes from over 50 top companies in under a minute. When you find the policy that matches your needs, Jerry can take it from there—including the paperwork needed to switch policies!
Average Jerry users save about $887 a year on car insurance, so consider that when calculating the best terms on your Chrysler car loan. Those savings add up!
Haven’t shopped for insurance in the last six months? There might be hundreds $$$ in savings waiting for you.
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