• Chrysler
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Cronic Chrysler Dodge Jeep RAM

2515 N Expressway
Directions Griffin, GA 30223

  • Sales: (877) 495-1159
  • Service: (877) 608-9111
  • Parts: (888) 541-4086

Common Finance Terms

 

Keeping up to date with the automotive market isn't easy amid the constantly-changing technology, brands, and vehicles. Fortunately the financial aspect of buying a car tends to remain concrete and most of the terms have been around for decades. While taking in all the standard features of a Chrysler can be overwhelming, keeping up with common finance terms isn't! Here's a few you ought to know before heading to the dealership.

·         Blue Book - Defined as the guide a dealership uses to estimate a vehicle's price, blue books, also referred to as blue book price, can be easily accessed online and in libraries.

·         Add-On Interest - Defined as interest that's calculated at the beginning of a loan and is then added to the principal amount, add-on interest must be repaid even if the buyer pays the loan off early.

·         Down Payment - A down payment is the amount paid in advance to help reduce the cost of the loan and reduce the risk a lender takes when financing a vehicle.

·         Trade-In Value - The amount a dealership will credit you towards another vehicle, trade-in value can significantly cut down the amount owed on a loan and may be used as a down payment.

·         Title - The legal document that contains information about the vehicle, a title must transferred when the vehicle is bought or sold and is official proof of ownership of the vehicle.

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Hours

  • Monday 9:00am-7:00pm
  • Tuesday 9:00am-7:00pm
  • Wednesday 9:00am-7:00pm
  • Thursday 9:00am-7:00pm
  • Friday 9:00am-7:00pm
  • Saturday 9:00am-6:00pm
  • Sunday Closed