Dodge Financing: What To Know Before You Buy

Taking a new Charger for a test drive? Fun. Securing Dodge financing? Not so much.

Even so, reviewing your loan options can help you find the lowest rate. And if you’re already done rate shopping, see how your offer stacks up against the average with our Dodge payment study.

How do your Dodge payments compare to the average?

 Use our auto loan calculator to determine how much car you can afford.

When you’re shopping for an auto loan for your new Dodge, you’ll need a benchmark to compare your deal against.

Using sources like Experian, Kelley Blue Book and Edmunds, we estimated the average car payment for some of Dodge’s most popular models. Then, we broke this data up by credit band.

Although our study can be a good starting point, note that your monthly rate will vary. We didn’t include extras like extended warranties or service packages into average payments. Also, auto loan rates depend on your car’s down payment and other non-credit factors.

You might assume that the highest-credit borrowers always have the lowest car payment. That’s not always the case. Car buyers with higher credit tend to choose shorter loan terms (according to Experian). As a result, their monthly payments are higher (since they have fewer months to spread their loan across).

Learn more about how we calculated average monthly Dodge payments.

Estimated average monthly payments for new Dodges

Estimated average monthly payments for used Dodges

Dodge finance options

From comparing sticker prices to choosing your options, buying a car takes a lot of research. When it comes to auto financing, we’ve done some of the legwork so you can find the loan that fits you best.

 Chrysler Capital Finance

Best if...

You have a credit score of 620 or higher and are buying during a promotional sales event.

Major car makers usually offer car loans to people buying their vehicles. This is called manufacturer or captive financing. If you get a loan directly from Dodge, your financing company will be Chrysler Capital Finance. Chrysler is Dodge’s parent company.

Dodge financing deals depend on your ZIP code. Among the deals you might find, a discounted annual percentage rate (APR), cash back or a reduced down payment are common. Chrysler Capital typically runs these during promotional sales events, which fluctuate throughout the year.

Find out what deals are available to you by visiting Chrysler Capital’s website. While you’re there, you can also prequalify. Prequalification can help you see if you’re eligible and at what rate. Prequalification doesn’t hurt your credit score because it only requires a soft credit pull.

Chrysler Capital Finance usually requires a credit score of at least 620 to qualify. That falls under the fair credit band (but note that fair credit starts at 580). To see where you stand, get your credit score for free with LendingTree Spring.

Outside of exclusive Dodge financing specials, other Chrysler Capital perks include:

Certified pre-owned vehicles

Dodge offers two certified pre-owned vehicle (CPOV) programs. All vehicles must pass a rigorous inspection, and each one gets a free Carfax report. But depending on the year and odometer reading, benefits can vary.

CPO Base

CPO Base is designed for vehicles from model years 2019 through 2024 that have less than 75,000 miles.

These certified pre-owned cars come with a seven-year, 100,000-mile warranty on most major components. You’ll also get three months (or 3,000 miles) worth of MaxCare, Dodge’s new car warranty (which is much more extensive).

CPO GO

Vehicles under the CPO GO program need to be between model years 2014 and 2024, and have fewer than 120,000 miles.

Compared to CPO Base, the warranty program on these vehicles is more limited. You’ll get the MaxCare warranty for three months. Still, that’s peace of mind that most mechanical issues may be covered.

Military and First Responders Bonus Cash

First responders, military members and veterans could get $500 off with Chrysler Bonus Cash. This deal only applies to certain models and model years. For instance, at the time of this writing, you must buy a 2023 or 2024 model to qualify, and Chargers are not eligible.

Driveability program

The Driveability program helps Dodge make their vehicles more accessible to individuals with disabilities. If you’re eligible, you could get a rebate of up to $1,000 if you install adaptive equipment into your brand new Dodge. Some examples of adaptive equipment include hand controls, scooter hoists, custom running boards and more.

 Bank and credit union auto loans

Best if...

Your bank or credit union offers perks for current members.

You might be able to get a car loan through your bank or credit union. Although both options tend to offer low rates, credit union auto loans can be especially competitive. Thanks to federal law, credit unions can’t charge APRs higher than 18.00%.

Some banks and credit unions also offer APR discounts for both banking and borrowing. And if this is your first loan, you might appreciate personalized service from a loan officer. Some institutions even offer a car-buying service, which could help you find a car at a price (and rate) you can afford.

On the downside, banks and credit unions tend to have stricter credit requirements than other types of financing. Also, not every institution offers prequalification. You may need to formally apply online or visit a branch for more information.

 Online auto loans

Best for...

Low rates if you have excellent credit, and best for approval odds if you don’t.

Whether you have bad credit, stellar credit or something in the middle, an online auto lender can likely accommodate. Competitive rates aren’t necessarily hard to find if you have excellent credit. And if you’re having a hard time getting approved, a bad credit auto loan might be worth looking into.

Online loans tend to carry more (and higher) fees than banks and credit unions. Still, keeping things online can also make it easier to gather several preapproved car loans.

Lenders charge different rates for the same applicant — each has its own metrics to determine creditworthiness. So, shopping around is essential. Just get your shopping done within 14 days. That way, only one hard credit pull will count against you.

 In-house financing

Best if...

You have bad credit, have exhausted all other options and are happy with an older model.

In this context, in-house financing isn’t when your dealer secures your loan for you. It’s when the dealership itself approves and funds your loan. This is the business model that buy here, pay here car lots follow.

The credit score needed to buy a car varies, but if your score is truly low, you may have a hard time getting a loan from a traditional lender. Buy here, pay here lots specialize in bad credit. Many don’t check credit at all.

As good as that might sound, the easier a loan is to get, the higher the rate usually is. You could see extremely high APRs with in-house financing, as well as excessive dealer fees. What’s more, vehicles at these lots are generally older. An expensive loan coupled with an older model could trap you with an upside-down car loan.

How we calculated average monthly Dodge payments

To calculate average monthly Dodge payments, we found estimated starting MSRPs and the fair purchase price for some of Dodge’s most popular models.

Then, we subtracted an average down payment from each. According to Edmunds, the average down payment on a new vehicle was $6,682 in Q1 2024. For used vehicles, it was $4,133. The resulting figure represents the total amount our hypothetical borrowers financed.

From there, we used our auto loan calculator to figure out average monthly Dodge payments, using average APRs and loan terms as reported by Experian’s State of the Automotive Finance Market Q1 2024. You’ll find this data in the tables below. Please note that loan terms were rounded to the nearest whole number during our calculations.