What is a Good Chevrolet Finance Rate?

It’s always a tough choice deciding whether to lease or finance a new Chevrolet truck or SUV. A Chevy car lease is a great option for many drivers. However, many drivers aren't familiar with the leasing process. Moran Chevrolet answers our FAQs to help you shop with confidence. more Why Do Chevrolet Leases Offer Lower Monthly Payments An auto lease typically lasts two or three years. Then, you’ll return the vehicle to the dealership. Since you’re only responsible for the car’s estimated depreciation, leasing is more affordable than financing. How Much Can I Drive a Leased Vehicle? Leases have a mileage allowance, which helps to limit depreciation. Allowances typically range from 10,000 to 15,000 miles per year. You can negotiate a high-mileage lease, although they typically cost more. What are the Cons of Leasing? Some buyers prefer financing, because leases come with restrictions. You have a mileage allowance, and you usually can’t customize the vehicle. If you exceed your mileage or have excessive wear and tear, you’ll owe fees at your lease return. You also don’t build equity in a lease. What’s Considered Excessive Wear? When you return your Chevy lease, your vehicle will be carefully inspected. Anything other than normal wear and tear is considered excessive. This can include large dents or scratches, chipped paint, a cracked windshield, worn tires, and more. Can I Buy a Leased Vehicle? Many drivers fall in love with their leased vehicle and want to keep it. If you want to buy your leased vehicle, you can exercise the purchase option in your contract. It will include the remaining cost, which you can pay outright or finance. Lease a New Chevy Vehicle in Clinton Township, MI We offer a streamlined leasing process at our dealership. We’d love to help you take advantage of the many perks that come with leasing a Chevy vehicle. Visit Moran Chevrolet to get started today!

There are many benefits to leasing a new Chevrolet vehicle. You just need to decide which type is right for you, whether it’s a Chevy high-mileage lease, a short-term lease, or something else entirely. Moran Chevrolet details the common lease options to help you choose. more Closed-End Lease A closed-end lease is one of the most common types of auto leases. They typically last for 24 to 36 months, and you have multiple options to choose from when the term ends. Once your term is up, you’ll return your lease and pay any excess mileage or damage fees. You can also trade in your lease to roll into a new Chevy lease. Another available option is to buy out the remaining value of the vehicle after the lease term ends. Short-Term Lease If a lease lasts less than 24 months, sometimes even as short as six months, it’s known as a short-term lease. These leases allow drivers to consistently upgrade to a new model with new technology and styling. However, they typically have a higher monthly payment, and they are much less common. High-Mileage Lease Since a mileage allowance is one of the biggest drawbacks of a lease, there’s also a high-mileage option. This is a great choice for drivers who drive a lot, especially if it’s over 15,000 miles per year. These leases generally have higher upfront costs, but they can help you avoid penalties at your lease return. Lease a New Chevy Vehicle in Clinton Township, MI These are a few of the common types of Chevy leases. Our financial team is happy to discuss your needs with you to see what type of lease suits you best. Visit Moran Chevrolet to get started today!

Your tax refund can go a long way when purchasing a new Chevrolet vehicle. The real question is, should you use it as a down payment or save it for your monthly car payments. Moran Chevrolet explores both options. more Using it as a Down Payment A down payment is a big asset when you’re buying a car. It can substantially reduce how much you have to finance, which reduces how much interest you pay and how much you spend overall. Plus, a larger down payment lets lenders know that you present lower risk, which can get you more loan offers with more attractive rates and terms. Saving it for Monthly Payments There are also many benefits to saving your tax refund for your monthly payments. We all know that expenses can be unpredictable, so it’s always nice to have flexibility. By saving your tax refund, you can make sure that you can always make regular and on-time car payments, which can help improve your credit score. You also have more flexibility with your money if you need to cover maintenance costs or want to get some add-ons for your new Chevy vehicle. Making the Best Choice for You It’s important to weigh your own personal finances and expenses to decide which is right for you. A down payment could be a better choice if you prefer to have smaller and more manageable car payments. By saving it, you can ensure you always have the money for your car payments or even other unexpected expenses. Explore Our Chevrolet Inventory in Clinton Township, MI We’re more than happy to review your options with you to help you decide which route is best for you. Then, all you need to do is decide which new Chevy model is your favorite. Visit Moran Chevrolet to get started today!