How Does Car Financing Work?

Car Keys and Calculator
When you’re ready to purchase a new or used car for your commutes through and past Marrero, you can purchase it in full, lease it, or apply for financing. Have you been wondering, “what does it mean to finance a car?” or “how does financing work?” at Ray Brandt Chrysler Dodge Jeep Ram, we’re dedicated to helping you understand the process so you can enjoy a stress-free car-buying experience.


How Does Financing a Car Work?

Whether you’re looking to buy a used or new vehicle, the first step in financing is to apply for a loan through the dealership, a bank, or a credit union. You can apply for financing online or you can apply for a loan at our dealership near Gretna. Factors that the lender will look at include:

  • Debt-to-Income Ratio
  • Age of the Vehicle
  • Credit Score
  • Loan Amount
  • Length of Loan

If you know your credit score is low or you don’t have a strong credit history, consider asking a family member or close friend to cosign your loan.

Using a Calculator

Signing Paperwork

Choose Your Lender

If you are approved for an auto loan, you might have several options to choose from. If your local dealer offers in-house financing, you can compare their rates to that of a bank or credit union offer to see which makes the most sense for your lifestyle. Take a moment to consider how much money you can put down, and how much your monthly payments will be to ensure you will be able to pay back the loan.


Finalize the Loan Terms

Before locking in your deal, you may need to negotiate on price. If this is the case, you will settle on a price with the salesperson after some negotiation. Once you have both agreed on a price, you can finalize the loan terms and close your deal. Simply sign all the necessary paperwork, take delivery of the vehicle, and drive home to the Gretna area in your new vehicle.

Young Man Smiling in a New Car

Want to Know More About Car Financing in Harvey?

Do you want to learn more about the automotive finance process? Or maybe you have questions about things like GAP insurance or financing a car with bad creditContact us online or simply stop by our dealership to speak to a member of our finance department near New Orleans. Want to know if you can trade in a financed car? Find out with Ray Brandt Chrysler Dodge Jeep Ram today!


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1660 Westbank Expy • Harvey, LA 70058

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Today's Hours:

Open Today! Sales: 9am-7pm

Open Today! Service: 7:30am-5pm

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Ray Brandt Chrysler Dodge Jeep Ram 29.9012767, -90.0672041.