Auto Finance and Credit Guidelines

Finance & Credit Averages in Indianapolis, IN 

Getting financing is easy at Champion Chrysler Jeep Dodge- we prepare you for the whole process from start to finish. Below you will find finance and credit averages and find out your rating! You can also check out our finance center and fill out our credit application form for free. For more information contact us today or stop in for a visit.

Credit Guidelines 

Champion Chrysler Jeep Dodge follows the following nationally recognized guidelines of the FTC and FICO credit scores when estimating and quoting payments utilizing the following sources.

 720 - 850 Excellent3.25% to 5.25%
 690 - 719 Very Good5.26% to 7.25% 
 660 - 689 Good7.26% to 9.25%
 620 - 659 OK8.26% to 10.25% 
 590 - 619 Poor11.26% to 14.25%
 500 - 589 Bad14.26% to 25%


Auto Loans

How does a bank or credit union decide what interest rate to offer me on an auto loan?

A bank or credit union will typically consider several main factors:

  • Your credit score and credit history
  • The length of time you'll be paying back the loan, called the "loan term" or "term of the loan"                                
  • The amount of your down payment as a percentage of the value of the car
  • Whether you are purchasing a new or used car

Your annual percentage interest rate can vary as much as 10 to 15 percentage points  based on your credit score and history.

which could mean the difference between getting a loan at 5 percent versus one at 15 percent - so be sure to check your credit report for any errors before you shop for financing. And don't forget to apply for a few loans from different lenders, such as banks or credit unions, before going to the dealership

How can I protect myself from credit Discrimination?

Credit discrimination is often hidden or even unintentional, which makes it hard to spot. Look for red flags, such as: 

  • You are treated differently in person than on the phone
  • You are discouraged from applying for credit
  • You hear the lender make negative comments about race, national origin, sex, or other protected groups
  • You are refused credit even though you qualify for it
  • You are offered credit with a higher rate than the one you applied for, even though you qualify for the lower rate
  • You are denied credit, but not given a reason why or told how to find out why
  • Your deal sounds too good to be true
  • You feel pushed or pressured to sign

* The advertised price does not include sales tax, vehicle registration fees, other fees required by law, finance charges and any documentation charges.

* Images, prices, and options shown, including vehicle color, trim, options, pricing and other specifications are subject to availability, incentive offerings, current pricing and credit worthiness.

Call: (877) 727-4915

Make an Inquiry

By submitting your contact information, you consent to be contacted by telephone about purchasing a vehicle or obtaining vehicle financing. Clicking on the Submit button above is your electronic signature.