Financing or Leasing a New Chevrolet Near Paw Paw, MI
We have a wide inventory of new and used Chevrolet vehicles to suit your needs in Kalamazoo and Portage, MI. We at Cole-Krum Chevrolet also offer financing options to help put you in the driver's seat. Our dealership in Schoolcraft, MI offers leasing or financing, so we want you to understand the differences and benefits.
Financing a Chevrolet
Financing is applying to get a lump sum from the lender and paying it back in installments with interest. Payments are commonly made monthly over a set term, ranging from 24 to 84 months, with 36 to 60 as the most common term. The loan amount includes APR or annual percentage rate and the dealer's yearly charge to borrow money. Financing a Chevrolet gives you full control over the vehicle without restrictions, and you don't have to save cash. After you pay off the loan, you may trade your Chevrolet for a new one or sell it.
If you make timely payments, you improve your credit score, which helps you qualify for better deals in the future. You may usually apply for financing online and prequalify on the dealership's website without hurting your credit score.
Leasing
Leasing makes monthly payments to the dealer to use the vehicle for a specific time without ownership. The payments are based on expected short-term depreciation, credit score, and make and model. A typical lease agreement covers mileage limits, cost over mileage limits, termination rules, and maintenance requirements.
Leasing a Chevrolet often costs much less than financing and is ideal if you don't plan to drive many miles. At the end of the lease term, the lender is responsible for selling it and dealing with depreciation. It allows you to drive a newer vehicle every few years, and you may get a business tax write-off.
Explore Your Options with Us Near Three Rivers, MI
Visit Cole-Krum Chevrolet and talk to a finance specialist to see what option is right for you.
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