Financing is one of the top options for Ithaca, Cortland, and Elmira, NY, drivers looking to purchase their next Chevy. If you're new to financing, you might be searching for more information on the topic.

To provide you with the answers you're seeking, the Maguire Chevrolet & Cadillac of Ithaca team has created this guide to teach you about Chevy financing. Read on to learn more about this popular method of payment.



What Is Financing?

Financing is the same as taking out an auto loan. It is a common way for drivers to afford the Chevy model of their dreams.

When you finance an automobile, you make monthly payments toward the principal and the interest. Interest rates, monthly payments, and term lengths can vary greatly, depending on the model you purchase, your credit score, and your preferences.


What Is the Difference Between Financing and Leasing?

Leasing and financing are the two most common methods of payment that drivers choose when they pick out their Chevy. While both involve monthly payments, they follow different contracts and have different benefits.

Financing enables you to own your Chevy once you pay it off. Leasing involves borrowing a model for several years, then returning it. As a result, a lease will usually have a shorter term length than an auto loan.

Moreover, when you finance, you are paying off the entire value of the vehicle plus interest. With a lease, however, you are only paying for the depreciation of the automobile for the length of time that you borrow it.


What Do I Need to Get Approved for Financing?

Usually, getting approved for financing is simple and easy. You typically just need to provide our financing specialists with basic documentation, such as:

  • Proof of residence
  • Proof of income
  • A state-issued ID

A good credit score will also help you get approved for financing quickly. It will also qualify you for a range of terms and options. You will usually need a down payment or vehicle to trade in.

We have handy online tools that you can use. If one of our agents needs more information or documentation, they will reach out to you.


Do I Need a High Credit Score to Finance a Chevy?

While a high credit score is usually desired by dealerships and lenders, we provide financing options for drivers with less-than-ideal credit. Our dealership offers guaranteed credit approval, whether you have:

  • Low credit
  • No credit
  • A fixed income
  • Undergone bankruptcy

Our finance specialists will work to set you up with the right Chevy at a rate that works for you. We believe everyone should be able to get the car of their dreams.


Learn More About Chevy Financing

If you have any more questions about Chevy financing, contact Maguire Chevrolet & Cadillac of Ithaca. We're happy to provide Ithaca, Cortland, and Elmira, New York, area drivers with all the information they need to make the right buying choice.

 

 

 

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Maguire Chevrolet of Ithaca

35 Cinema Dr
Directions Ithaca, NY 14850

  • Contact: (607) 272-9292

Hours

  • Monday 8:00 am - 8:00 pm
  • Tuesday 8:00 am - 8:00 pm
  • Wednesday 8:00 am - 8:00 pm
  • Thursday 8:00 am - 8:00 pm
  • Friday 8:00 am - 6:00 pm
  • Saturday 8:00 am - 6:00 pm
  • Sunday Closed