Searching for a new car, truck, or SUV in Radford, VA, can be overwhelming. There seems to be an endless number of options to choose from, but the most significant decision you must make is how much you can afford to spend on a new vehicle. Two options for getting a new Chevrolet vehicle if you cannot pay cash are financing or leasing.
Financing Options Near Christiansburg
You must carefully consider the cost when you decide to finance the purchase of a new Chevrolet vehicle. To get an auto loan, you must have good credit and afford the monthly payment.
The monthly payment can be higher on an auto loan than on a lease, but financing enables you to own the vehicle. You can sell the vehicle, make modifications to it, and not make any more payments after paying off the loan. Plus, there are no mileage restrictions with an auto loan.
Leasing Options Near Salem, VA
Leasing is a good choice if you want to drive a new Chevy car, truck, or SUV every few years or need to upgrade frequently. Monthly payments on a lease are usually cheaper than the monthly payments on a loan. In addition to lower monthly payments, a lease requires you to make a down payment that is typically lower than a purchasing down payment.
There are some disadvantages to leasing a vehicle. First, an auto lease is like renting. You are making payments on a vehicle that you do not own. Second, leases often come with mileage restrictions. If you are over the mileage limit when you turn in the vehicle at the end of the lease, you will pay an overage charge.
Contact Our Finance Department
You can contact our finance department at Harvey's Chevrolet serving Blacksburg if you are looking for a new car. We can go over our financing and leasing options and help you make the best decision for your financial situation.
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