If you are looking to by a new Chevrolet now might be about the best time ever. Interest rates are at their lowest levels in more than a decade and special offers abound.
Review Your Budget
The first step is always the same: review your budget. How much new car can you afford? How much can you afford to put down and what sort of monthly payments can you afford going forward. You also need to think about maintenance and fuel costs, plus insurance.
Chevrolet offers some fantastic financing options, but do you want to buy your car outright or is a lease a better option for you? With a financing deal you buy the vehicle over time and pay for it gradually with a down payment and regular monthly payments.
In a lease deal you put a certain amount of money down and make regular lease payments, but all maintenance of the vehicle is handled by the dealer. When the term of the lease expires you must return the vehicle, which can be a let down for some owners after paying for the vehicle month after month.
Application for Credit
Every financing or lease deal starts with a credit application. The terms of your financing deal will improve if you have good credit, so make certain you keep your credit score as good as can be before starting your vehicle search. A credit score just a few points higher can mean a big savings in interest rates for a full financing deal.
Once you have completed your credit application the dealership will tell you how much vehicle you can finance or lease. In regards to a full financing deal, the more money you put down on the vehicle the lower your monthly payments. You still need to negotiate the price of your vehicle regardless of the financing terms. The lower the price you can negotiate on your new vehicle the lower the down payment and the lower the monthly payments.
Choosing Your Vehicle
And be certain to consider the vehicle options. The more extravagant the options on your vehicle, choosing one with heated leather seats or a surround sound stereo system, can drive up the price.
Your Chevrolet vehicle comes with a host of affordable options, but be careful to only choose the ones which are right for you. You will also need to consider taxes, fees, license, title and registration to calculate your exact vehicle cost. And ask the dealer about special rebates and financing options.
The Chevrolet dealer will be anxious to work with you and find the vehicle that is right for you and your bank account.