Chevy Financing Center in Corinth
Although shopping for a car can be stressful, it can also be a lot of fun: looking at all of the different models available to you, going for a test drive, and figuring out the kinds of options and features that you will get to enjoy for many years to come. When you choose the right dealership, even the stressful stuff can still be a lot less of a hassle than you might expect, and that includes figuring out the best financing option for you. If you are trying to get Chevy financing for your next vehicle, whether you are shopping for a new or used model, we are here to help and make sure you get what you need.
Our financing experts have pretty much seen it all, so no matter what your particular situation looks like, we are ready to help. We can answer all of your questions, help you explore your financing options, and make sure you drive away with a vehicle that fits your budget with payments that will not cause you to lose any sleep at night. That is the difference that you get to enjoy when you choose Crossroads Chevrolet GMC and work with people who put your needs first.
Financing for New and Used Chevy Models
No matter what type of vehicle you are interested in, we are here to help you figure out the right financing to meet your needs. With a brand-new Chevy, financing is important since these models represent a significant investment. You want to make sure you find a financing solution that gets you the vehicle you want, with payments that you can afford, so you can get the most from your car, truck, or SUV. We can also help you figure out the right type of financing, whether that is a loan or a lease, so that you have the right option for your situation.
While a used Chevy is typically your most budget-friendly option, figuring out the right financing is just as important as with a new model. A pre-owned Chevy truck, SUV, or car is a great way to enjoy robust performance and fantastic features while going easier on your wallet, but poor financing terms can result in you paying much more than you should. With one of our financing experts by your side, it is easy to navigate all of your options when looking at different lenders and find the right one with terms that meet your needs.
Consider Leasing Your Next Chevy
Although leasing is not for everyone, it is a great option for people who are interested in enjoying everything a brand-new Chevy can offer without making a long-term commitment. Ultimately, whether you should lease your vehicle comes down to a couple of things: what your budget and credit history look like and how important car ownership is to you. In many cases, a lease can be the most budget-friendly way to enjoy driving a brand-new car, but the credit score requirements on it can make it an impractical option for some people.
The most important thing to consider is whether you want to own the vehicle that you are driving or if you are happy to use it for several years and then move on. With a lease, you get a new car, make monthly payments on it toward the depreciation that you put on it while driving, and then at the end of a few years, you return it with no further commitment on your part. For people who want to own a vehicle for five or ten years, a lease is not the right option because there is no ownership involved. If you are interested in driving the latest model for a few years and then returning it and getting a new vehicle, then a lease sounds perfect for you, and we are happy to help you figure out the right terms to meet your needs.
FAQs About Financing
Figuring out finances can be pretty stressful for a lot of people, and adding confusion and uncertainty to that just makes things worse. Here at Crossroads Chevrolet GMC, we are happy to answer all of your questions about financing, finding the right vehicle, and anything else you are concerned about. That being said, here are some of the most common questions we hear and answers that can help you as you consider your options.
Can I get financing with bad credit?
Yes, there are definitely loans available for people with poor credit, and we can help you find them. While the terms might not be as generous as offers for drivers with excellent credit, making payments on time is a great way to improve your credit score for next time.
How do interest rates work?
The interest on a loan is essentially an extra amount of money beyond what you initially borrow (the principal) that you pay back over the course of loan repayment. This is the profit that a lender makes for taking a risk by giving you money. The higher the interest rate, the more you pay back in interest on the loan.
How is my monthly payment determined?
Through a process called “amortization,” your repayments on a loan are figured out by looking at the duration of the loan, the principal that you are borrowing, the interest rate on the loan, and then calculating how to spread repayment out evenly across that period. The more you borrow, the higher your payments will typically be. High interest rates and short repayment times make monthly payments higher, while low interest and longer repayment periods result in low monthly payments.
How long will it take to pay off my car?
That depends on the terms of the loan that you take out to pay for your next Chevy vehicle. A five-year loan is generally pretty common, though with so much financial uncertainty these days, some people prefer a seven-year or eight-year loan to keep monthly payments lower. This is something that we will discuss with you as we help you figure out what terms are best for your specific situation.
What if I already have a loan offer from my bank?
Having a potential loan from your bank is fantastic, but that does not mean those are the best terms you can find. We can help you look at all of your options to make sure that you get the lowest interest and the best overall terms possible.
Do I need to make a down payment?
This depends on your situation, your credit score, and the type of financing you are interested in pursuing. In general, having a down payment is a great way to keep your loan as small as possible, and it may be required for a lease or other type of financing. Also, if you have poor credit, a down payment may be required to show a lender you are serious about paying for the vehicle, making you seem less of a risk.
How do trade-ins work?
The value of your trade-in vehicle is basically subtracted from the cost of the Chevy that you are interested in buying or leasing. So if you want to buy a $30,000 vehicle, and you have a trade-in that is worth $10k, then you will only owe $20,000 on the car. If you have another $5,000 for a down payment, then you will only need to get a loan for $15k, which can make repayment a lot easier than if you needed financing for the full amount.
Let Us Help You Finance Your Chevy Today
As you can see, figuring out financing for your next vehicle can be kind of tricky, but straightforward answers and our friendly professionals who are ready to assist you can make everything a lot simpler. We are here to help you throughout every step of the car-buying process, including looking at all of your options, figuring out which vehicle will best meet your needs, and navigating the potentially perilous waters of the financing process. You deserve to work with people who will put your needs first and make sure you drive away with the perfect car and payments you can afford. There are a lot of variables you need to consider when buying a car, but with our help, financing will become less of a hassle. Call or come visit us at Crossroads Chevrolet GMC today to learn more, and let us show you how easy and rewarding it can be to shop for a car.