Learn About Your Chevrolet Financing Options at Eagle Chevrolet of Riverhead
Before settling on which Chevrolet model you want as your next ride, you must carefully consider your financing options. Then, once you have found the perfect Chevy vehicle for you in our inventory, you can get the ball rolling on the pre-approval process. But should you buy or lease your new Chevy? There are benefits to each one.
Here at our dealership, we know how important it is that your new vehicle fits your unique budget. That's why we want to help you explore your financing options.
Buying vs. Leasing
When you want a long-term investment in your new Chevy model, you might want to consider financing with a loan to help you buy it. What are the benefits of doing this? When you decide to pursue a loan, you get benefits that include:
- Having no limit to the number of miles you can put on your new Chevrolet car
- Owning vehicle when the loan payments plan wraps up
- Personalizing all the options you want on the new vehicle you choose
Financing a vehicle with a loan means that you will need to put some money toward a down payment when you come in to buy your vehicle. A loan finances the rest of the vehicle's cost. You will secure an interest rate when you agree to buy the car, and this is based on your credit score. Then, each month, you will make a payment that goes toward the auto's principal and interest. The vehicle's equity builds up as you make on-time monthly payments. You will become the car's legal owner once the loan is entirely paid off. You will never have to give the vehicle back after you reach that milestone, and you can choose to sell it later down the road if you'd like.
Of course, a loan isn't for everyone. Some folks prefer short-term commitments. Our dealership has leasing options available, and the benefits of them are:
- Being able to drive the vehicle for a lower cost than buying outright
- Having the option to trade your model in every few years for a newer model
- Making lower monthly payments than you would with a loan, enabling you to get a higher trim level of your choice
Leasing a car is different than financing one with a loan since you drive the vehicle for a specific period of time, usually about three or four years. Taxes and fees get covered by an initial payment; then, you pay a regular fee each month for the length of the lease's term. You are held to certain standards, including guidelines for the maximum mileage you can put on the vehicle.
When the lease's term is up, you have a few choices to consider. You can always return the vehicle and get a newer model to drive around on another lease. You can also choose to purchase the vehicle that you have been leasing if you want it to be officially yours.
How You Can Apply
Applying for either a loan or lease is simple! Head to our financing center and apply for pre-approval using our convenient online form. Applying for pre-approval in advance can help speed up the process of buying in person, and it lets you know what you will be able to afford.
The Chevy car of your dreams is waiting for you here at our dealership. Let us know how we can help you finance it, and don't forget to fill out the pre-approval form for financing on your new Chevrolet vehicle.
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