Navigating the vehicle financing process is one of those adult rites of passage that can be extremely confusing to newcomers. Between all of the new finance vocabulary, mountains of paperwork, and seemingly millions of signatures, the Chevy finance process may seem daunting, but you can make it work to your advantage if you know what you’re doing. To help new buyers, here are some tips to help you get the most out of the process…
Leasing Versus Buying
The first thing to consider is whether you’re planning on leasing or buying your next vehicle. There is no absolute right answer to this question, the answer really boils down to your current situation and what you’re hoping to get out of your vehicle. Buying gives you full control over your vehicle but represents a much larger financial commitment, whereas leasing allows you to select a vehicle that may otherwise be out of your price range if only for a limited time.
Consider Buying Used
If you plan on buying, purchasing a used vehicle is an excellent way to not only save but also get more out of your vehicle in the long run. While that gleaming new vehicle may look appealing, it can lose as much as 30% of its value within its first three years on the road. Buying used allows drivers to recoup much more of their investments should they decide to sell down the line.
Refinance Your Current Loan
If your monthly payments become overwhelming, you may be able to renegotiate the terms of your lease to help ease the burden. Loans are certainly not as written-in-stone as they might seem, they can be edited should the lender and borrow come to a consensus. Reach out to your lender and inquire about extending the loan term
Do you still have questions about the Chevy finance process? Well, be sure to reach out to Valley Chevrolet of Hastings‘ Finance Department for answers! One of our financial officers would be happy to help you through the loan or leasing process.
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