5 Car Financing Questions You Should Know

One of the best advice to have in consideration if you are about to make the decision of purchasing a car is to be absolutely sure that it is actually within your budget. At Mike Smith CJDR when it comes to auto financing, we excel to make the process as easy and transparent as possible; that is why we strive to provide you with the information you need to have a basic understanding of the overall process to get the car you are looking for.

Car Financing Questions You Should Know

1)Can I Get Approved For A Second Car Loan?

While it is certainly not impossible to get more than one car loan, there are several factors lenders look for when considering financing two or more vehicles at a time:

  • Your credit history
  • Your debt to income ratio
  • Whether you have a cosigner
  • How long you have had your current car loan

2) I’m A First Time Car Buyer, Do I Need A Co-Signer?

Co-signers are not mandatory for first-time car buyers. It really all depends on your credit history and income. That said, it’s never a bad idea to have someone in mind as a co-signer in case you do need one.

3) Can I Get A Car Loan After A Repo?

You may be surprised by this answer, but in most cases, it is possible to get approved for another car loan after you’ve had a repossession. You’ll most likely need a co-signer or a substantial down payment but there are always options for auto loan approval, even after a repossession. For more details, speak to the dealership’s financing manager.

4) Who Has The Best Rates; Car Dealers or The Bank?

In most cases, the car dealership’s interest rates are as good as, and sometimes even better than, the rates you’d get at a bank or credit union. Car dealers use the same banks you have access to, as well as other auto loan lenders. With the lending options, dealerships have available to them, you’ll actually have lenders ‘fighting’ over your loan instead of the other way around.

5) Does Mike Smith CJDR Finance Bad Credit?

Yes. It’s actually easy to get approved through Mike Smith CJDR finance programs. Most car manufacturers are eager to help their customers build or rebuild their credit by offering financing programs and deals exclusively through Mike Smith CJDR dealership.

Final Tip

By following and learning the answers to these question about Auto Financing, you’ll be set to make the best financial decision to get the car and loan that cover your expectations. It doesn’t harm to be prepared whenever you’re ready to buy a car.

These are general documentation requirements. For answers more specific to your circumstances, our dealership’s financing team can answer all of your questions and concerns more accurately.

Ask a Question

  • This field is for validation purposes and should be left unchanged.

5 Car Financing Questions You Should Know in San Diego CA 77701

How to Get Approved for a Car Loan | Rancho Chrysler Jeep Dodge Ram

Connect With Us

Saved Vehicles ×


You don't have any saved vehicles!

Look for this link on your favorites:


Once you've saved some vehicles, you can view them here at any time.

Contact Us ×


Call Now

8010 Balboa Avenue • San Diego, CA 92111

Get Directions

Today's Hours:

Open Today! Sales: 9am-9pm

Open Today! Service: 7am-6pm

Open Today! Parts: 7am-6pm

Rancho Chrysler Jeep Dodge Ram

8010 Balboa Avenue San Diego, CA

Phone: 858-560-7100



Phone: 855-445-9106

8010 Balboa Avenue San Diego, CA

Mobile Parts

Phone: 858-522-9927

8010 Balboa Avenue San Diego, CA


Phone: 858-633-6742

8010 Balboa Avenue San Diego, CA

Mobile Sales

Phone: 855-526-9575

8010 Balboa Avenue San Diego, CA


Phone: 858-300-8151

8010 Balboa Avenue San Diego, CA

Mobile Service

Phone: 858-609-0404

8010 Balboa Avenue San Diego, CA
32.8224593 -117.1505808
[schema type="organization" orgtype="LocalBusiness" url="www.ranchocjd.com" name="Rancho Chrysler Jeep Dodge Ram" description="" street="8010 Balboa Avenue" city="San Diego" state="CA" postalcode="92111" country="United States" email="falvarez@ranchoautogroup.com" phone="858-560-7100" logo="https://di-uploads-development.dealerinspire.com/ranchochryslerjeepdodgeram/uploads/2017/08/RanchoCDJROGImage.png"]
Rancho Chrysler Jeep Dodge Ram
Rancho Chrysler Jeep Dodge Ram
8010 Balboa Avenue
San Diego, CA, 92111 United States
Rancho Chrysler Jeep Dodge Ram 32.8224593, -117.1505808.