Does Dodge Finance Bad Credit?

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Even with poor credit.

By

Automotive Content Editor

Meghan Carbary has been writing professionally for nearly 20 years. A published journalist in three states, Meghan honed her skills as a feature writer and sports editor. She has now expanded her skill-set into the automotive industry as a content writer for Auto Credit Express, where she contributes to several automotive and auto finance blogs.


, Automotive Content Editor - January 17, 2023

Chrysler Capital, the captive lender for Dodge and other Stellantis Brands, finances a wide range of credit scores, including for borrowers with bad credit. Here's what we know about financing a Dodge with bad credit.

Dodge Credit Scoring

Unlike many car companies that only finance people with good credit, Dodge uses a wide range of credit scores to make up their financing tiers. The lowest credit score that Dodge finances are for borrowers with credit scores below 620. This is not as low as some other companies known for financing bad credit, such as Hyundai whose score range goes as low as 580 or below.

However, Chrysler Captial does offer some programs for subprime borrowers which can incentivize consumers with additional cash-back offers for those in the lowest credit tier for Dodge or other brands such as Jeep, or RAM.

Are Dodge Vehicles a Good Choice for Bad Credit?

Dodge vehicles can get pretty expensive, but base models of the Challenger and Charger both begin just north of $31,000. These aren't the cheapest cars on the block, and they can make for some grueling daily drives, but the price isn't bad for getting your foot in the door to American Muscle.

If you're thinking of a Durango when you think of your future Dodge, you're looking at an even higher cost. The latest Dodge Durango starts with an MSRP of $38,590 and goes up to $67,870 for range-topping SRT 392 models.

With these high starting costs, a Dodge may not be the best choice for a borrower that's struggling with credit issues. Poor credit typically means a higher-than-average interest rate, which means paying a lot of interest on a high-priced vehicle.

For example, if a bad credit borrower receives an interest rate of 13% for 60 months (five years), they'd be looking at interest charges of over $11,000 on a $31,000 vehicle like a Charger.

According to the latest data from Experian, the average interest rate for borrowers with deep subprime credit, a credit score between 300 and 500, is 12.93%. Subprime borrowers, those with credit scores between 501 and 600 see an average interest rate of 10.11%.

Can You Lease a Dodge With Bad Credit?

In most cases leasing a car requires good credit. This is the case with Dodge, as with many other leasing companies, that the better your credit the better your chances of leasing and qualifying for a good deal on a lease.

If you do consider leasing a Dodge, a Durango could be a much better vehicle to lease than to buy. Based on current offers, our analysis found that it's more affordable to lease than either a Challenger or a Charger.

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, Automotive Content Editor

Meghan Carbary has been writing professionally for nearly 20 years. A published journalist in three states, Meghan honed her skills as a feature writer and sports editor. She has now expanded her skill-set into the automotive industry as a content writer for Auto Credit Express, where she contributes to several automotive and auto finance blogs.


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