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Q: Do you only finance and insure Chrysler vehicles?
A: Yes, as a captive financier Chrysler Financial provide dedicated finance and leasing solutions for Chrysler vehicles. Our focus on only financing Chrysler vehicles ensures that we can develop the most suitable solutions for our customers.
Q: Who do I contact to finance or insure through Chrysler Financial?
A: To arrange finance or insurance through Chrysler Financial you should visit your nearest dealer and speak to them about your requirements.
Q: How much can I borrow?
A: The amount you can borrow depends on a number of variables including the cost of the vehicle, the type of vehicle, the deposit or value of your trade in, as well as your financial situation. By visiting your nearest Chrysler dealer a Finance and Insurance manager will discuss your individual needs.
Q: Are there any application costs, monthly charges?
A: There is a one off documentation fee which is paid upon settlement of your contract, if you do not proceed with your application this fee is not collected.
Q: What information do I need to provide for a Chrysler Finance application?
A: There are several types of information that need to be collected to complete a finance application. These include proof of your identity, proof of your company or business for commercial finance applications, and proof of your income, expenses and liabilities. If more than one individual is applying for a loan, or a guarantor is required then details for these parties will also be required.
Q: How long does it take to get approved?
A: The length on time it takes to receive approval can depend, but in most cases you would be notified of your application approval within a couple of hours.
Q: What payment options do I have if I decide to finance or lease?
A: There are a number of payment options open to you once you have established a Chrysler Financial agreement. These include Direct Debit of funds, automatic payments by your bank or cheque transactions via post. You can also choose your payment frequency, weekly, fortnightly or monthly.
Q: When do I make my first payment?
A: In most cases an initial monthly payment will be required at settlement.
A balloon payment can be made at the end of the contract or at an agreed stage(s) in the contract, and is a lump sum payment that will reduce your monthly payments. If you do elect to incorporate a balloon payment at the conclusion of your contract, this payment must be made on the specified date, or additional payment arrangement made.
Q: What is a residual?
A: A residual is the value of your contract at the end of your agreement term. The residual value is normally what your final payment will need to be if you are purchasing the vehicle outright. In the case of a lease agreement, the residual amount is the agreed value of the vehicle at the completion of the lease agreement, provided kilometers and wear and tear are consistent with your contract terms. The residual value is used to determine what your monthly lease payments will be. The higher the residual, the lower the monthly payment. To maintain a high residual value your vehicle would need to have low kilometers, and be in very good condition.
Q: Can I pay my contract out early?
A: You can pay your contract out early if required, however some early termination charges may apply depending on your contract type and term.
