How to Get the Best Rate and Lowest Payment
At our online finance center, you can go through the entire buying process online. To get the best rates, learn how to fill out your income portion accurately to save you money on the term of the loan and your monthly payment. Our finance experts at Morlan Dodge Chrysler Jeep Ram are available to assist you with all your financing needs. We pride ourselves in helping all our clients from Dexter to Poplar Bluff find the best prices on a new or pre-owned vehicle. We also take that a step further and offer the best, guaranteed financing options from the city of St. Louis to Memphis, TN.
First Steps: Calculating Your Income
Correctly calculating your income is one of the most important steps on our finance form. Your income is one of the most important factors in calculating your monthly payment and determining your loan's interest rates. A difference of just a few dollars can lower your options of vehicles you can afford and increase the rate you qualify for, costing you quite a bit of money in the long run and impacting your monthly budget. Do you work hourly or on salary? We offer some handy calculators depending on how you get paid.
Do You Work By the Hour?
If you are an hourly wage earner, calculate your maximum monthly wage by following these steps:
- Hourly Wage X 40 hours X 4.33 = regularmonthly income.
- Next, calculate the Average Amount of Overtime:
One hour of incomerate X 1.5 X weekly average of overtime hours worked X 4.33. - Finally, take regular monthly income plus the average amount of overtime numbers, which equals your max monthly wage.
- Enter your calculated Max Monthly Wage into your finance application and get the best rate for you!
Do You Earn a Salary?
If you earn a yearly salary, calculate your maximum monthly wage by following these steps:
- Salary Yearly income / 52 X 4.33 = maximum allowablemonthly income.
- Enter your calculated maximum allowable monthly income into the finance form and get your qualified lowest rate!
Get the Best Finance Rates at Morlan Dodge Chrysler Jeep Ram
Our dealership is conveniently located in Sikeston, MO, serving clients as far as Cape Girardeau and Jackson, MO. Please don't hesitate to call our finance department if you need any help filling out the online finance application. Our team knows the ins and outs of helping customers find the best rates and qualifying you for the vehicle you want - explore our new specials too.
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