Car Loan for Dodge 2024

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If you need to finance a Dodge, you can get an auto loan from a dealership with Dodge Financial Services or a bank or credit union. While it may be more convenient to get your loan through a dealership, you’ll often get better terms and customer service from a local bank or credit union.
Sedans, minivans, SUVs, trucks, and more—Dodge makes reliable cars at an affordable price. When you need to finance the purchase of a new vehicle, you’ll want those same qualities in your loan provider.
In the world of today, there is a wealth of options when it comes to auto financing. The only problem is knowing that you’re getting the best car loan for your new Dodge. That’s why the car insurance broker and super app Jerry has crunched the numbers so that you can rest at ease.

How to get a Dodge car loan

It doesn’t matter if you’re planning on purchasing a Challenger or a Sprinter 3500, getting an auto loan for a Dodge is simple enough. All you need to do is check your credit, compare the rates and terms of different lenders, and try to get preapproved for a loan.

Check your credit

Before you start the process of applying for an auto loan, check your credit score. Your credit score will play a big part in the terms of your loan and the interest rate. In most cases, a credit score of 660 and above is sufficient for getting an auto loan.
You can still get a Dodge car loan, even if your credit score is lower than 660. You’ll just need to purchase your vehicle through a dealership. Dodge Financial Services accepts loan applications so long as you can prove that you’re capable of making payments with personal references, proof of income, or a co-applicant.
Check out this table to see how your credit score will impact your average APR and monthly payments for different Dodge cars:
Car MakeAverage Annual Interest RateAverage Monthly Payment

Compare lenders

After you’ve determined which auto loans you qualify for, you’ll need to decide who you want to be your lender. You can apply for a loan through a bank, credit union, or dealership that’s selling the vehicle you want. Just be sure that the dealership offers Dodge Financial Services.
You ought to compare the terms and rates from three or more lenders before settling on one. Try to find one with:
  • Short loan terms: 60 months or less
  • Low APR: 4.93 percent or lower
  • Manageable monthly payments: 10 to 15% of your monthly income is common
Don’t forget about customer service when deciding on a loan provider! While good approval odds and manageable monthly payments are nice, they won’t do you any good if the loan provider is hard to contact or has poor customer reviews.

Get preapproved

If you can, get preapproved for your auto loan. Doing so will give you some room to negotiate for more favorable terms before you sign the loan agreement. You can try to get preapproved from home with an online application through Dodge Financial Services.
To apply for preapproval, you’ll need to submit a completed application and provide your potential lender with the following information:
  • Social Security number
  • Proof of employment
  • Driver’s license or photo ID
  • Proof of income (paystub, employment contract, etc.)
Key Takeaway: Check your credit score, compare loan offers from different lenders, and try to get preapproved for a loan to get the best terms available for a Dodge auto loan.

Average loan term for a Dodge car loan

The loan term you choose is an important step in getting the right financing. Currently, the most common loan term is for 72 months (six years). However, just because most people choose this option doesn’t mean that it’s the best fit for you.
If it’s within your budget, a loan term of 60 months or less is a better option. While you will have higher monthly payments, your loan will be paid off sooner and will accrue less interest. In the end, this makes for a more affordable auto loan.
Be aware that not every lender offers alternative loan terms.
If you’ve settled on getting a loan from a participating dealership, Dodge Financial Services offers loan terms of 24 to 72 months. To sweeten the deal further, you won’t have prepayment penalties if you pay off your loan early!
See the table below to find out how different loan terms will affect your monthly payments and interest rate.
Loan TermsAverage Annual Interest RateAverage Monthly Payment

Finding a Dodge car loan in your state

The interest rates and loan payments you can expect are determined by the state you’re taking the loan out in. It’s best to find a lender that understands the financial conditions of your area and offers the lowest APR available for your credit score.
Check out the table below for the cost of a Dodge auto loan in your state.
Credit RatingAverage Annual Interest RateAverage Monthly Payment
Very Good5.12$341

Dodge car loans: new vs. used

You can get auto loans for a new or used Dodge, but expect different terms based on how old the vehicle is. For example, Dodge Financial Services will only approve a loan for new and Certified Pre-Owned Dodge vehicles within the last five model years.
If you need to finance the purchase of an older Dodge model, you’ll have an easier time getting a loan through your bank or credit union. While you will have to deal with a higher APR, the smaller loan should balance it out.
To see how a car’s age impacts monthly payments and APR, take a look at the table below.
Car YearAverage Annual Interest RateAverage Monthly Payment

How to calculate the costs for a Dodge car loan

Your credit score, loan amount, loan term, and location are the factors that set your monthly payments and APR. To find out what a Dodge auto loan will cost, check out Jerry’s car loan calculator.
Average Annual Interest RateAverage Monthly Payment

Save money on Dodge insurance with Jerry

While financing the purchase of your new Dodge can be time-consuming, insuring it doesn’t have to be.
The car insurance broker and super app Jerry takes the stress out of insuring your vehicle by providing quotes from more than 50 top insurance companies. Once you download the app and enter in your information, it takes less than two minutes to find the insurance policies you qualify for.
On average, drivers who use Jerry save as much as $887 every year. With savings like that, why wait? Get Jerry and start saving hundreds in minutes!
Haven’t shopped for insurance in the last six months? There might be hundreds $$$ in savings waiting for you.
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