How to finance a Ram pickup

The Ram pickup is a workhorse truck that can tow and haul whatever you need. Its rugged performance is balanced with a stylish and roomy interior to deliver a powerful and smooth ride. When you're ready to own this utility truck, here's how you can finance your purchase.

How to finance a Ram pickup

You have a few choices when it comes to Ram pickup financing. You don't have to purchase and finance your new truck from the same place if you don't want to. Here are a few financing options:

Dealership financing

Dealerships offer the convenience of purchasing and financing in one location, streamlining the new car purchase process. Dealers operate as the middleman between you and the bank — and get a tidy commission from it. They may also advertise incentives, including trade-in deals and rebates, to convince you to finance your new wheels with them.

Dealerships' attractive offers, like 0% APR for 60 months for a 2021 RAM 1500, are exclusive rates for well-qualified borrowers — buyers with excellent credit scores of 740 or more and a generous monthly income. Other borrowers get stuck with higher interest rates and end up paying more over the life of the loan.

Direct purchase

Instead of financing through independent dealers, you can finance your new truck through the manufacturer itself. Ram offers credit through Chrysler Capital. Once you get your offer online, you can shop for your new Ram pickup through a participating dealer to finalize the application.

New car loan

You can also arrange your own Ram pickup financing. Compare car loans from different lenders to find the best rate and loan terms for your financial situation. Financial lenders, including banks and credit unions, set their own interest rates and borrower requirements.

By shopping around, you might find a better deal than financing through a dealership. Plus, your car dealership would need to get competitive if it wants to offer you a car loan when you already have your own financing.

See more car loan options today

Check out a few auto loans to see what rates you might qualify for.

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Name	Product	Filter Values	Minimum credit score	APR	Loan term	Requirements
Carvana			No minimum credit score	3.9% to 27.9%	Varies	18+ years old, annual income of $4,000+, no active bankruptcies	Get pre-qualified for used car financing and receive competitive, personalized rates.	Go to site More Info	Compare	loading Fetching your data…
car.Loan.com Car Loans			300	Varies by network lender	Varies by lender	Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.	Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.	Go to site More Info	Compare	loading Fetching your data…
CarsDirect auto loans			No minimum credit score	Varies by network lender	Varies by network lender	Must provide proof of income, proof of residence, and proof of insurance.	Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.	Go to site More Info	Compare	loading Fetching your data…
Auto Credit Express Car Loans			300	Varies	Varies	Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.	Get connected with an auto lender near you, even if you have bad credit.	Go to site More Info	Compare	loading Fetching your data…
Monevo Auto Loans			500	3.99% to 35.99%	3 months to 12 years	Credit score of 500+, legal US resident and ages 18+.	Quickly compare multiple online lenders with competitive rates depending on your credit.	Go to site More Info	Compare	loading Fetching your data…
LendingTree			Good to excellent credit	Starting at 0.99%	Varies by lender	18+ years old, good to excellent credit, US citizen	Compare multiple financing options for auto refinance, new car purchase, used car purchase and lease buy out.	More Info	Compare	loading Fetching your data…
myAutoloan.com Car Loans			550	Starting at 1.89%		550+ credit score, no open bankruptcies, $24,000+ annual income, US citizen or permanent resident, 18+ years old	Get up to four offers in minutes through one simple application. Multiple financing types available including new cars, used cars and refinancing.	Go to site More Info	Compare	loading Fetching your data…

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Mistakes to avoid when financing a car

Here are a few common financing blunders that you can avoid.

• No down payment. By putting down any amount or trading in your old car, you'll lower the amount you need to finance — saving money on interest.
• Not checking your credit. Know your credit score and check your credit report for errors before applying for a car loan.
• Not shopping around. When you walk into a dealership already preapproved, you'll know what's a good deal when the dealer offers you financing options.
• Focusing on the monthly payment. If you concentrate too much on lowering your monthly payment, you'll end up stretching out the loan term, which means paying more in interest over the life of the loan.

Bottom line

When it comes to Ram pickup financing, you have several options. Read our guide to compare car loan rates from several lenders and find the best deal on your next utility vehicle.

Frequently asked questions

Answers to commonly asked questions about financing a new Ram pickup.

What is Ram Employee Pricing Plus?

Ram Employee Pricing Plus is a national sales event where customers pay the same price on select Ram models as its employees.

How long does it take to get approval on my financing application?

You generally hear back within a few minutes. For example, Chrysler Capital generally approves applications within 30 minutes, while CarMax usually takes 20 minutes or less.