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If you are shopping for a new car, there are plenty of great reasons to consider getting car financing. You should know that where you get your financing from matters. These are just a few of the best reasons to get financing for your next car from your Chevy dealer.
1. Afford a Better Car
One of the biggest reasons to get financing for your next vehicle is so that you can afford a higher-quality vehicle. If you buy your car outright, you may only be able to afford a lower trim level than the one you’d actually like.
But when you get financing, you’ll only need to put down a portion of the car’s total cost as your down payment. That means you’ll be able to afford something of higher quality. Get the car you’ve been dreaming of when you get financing.
2. Build Your Credit Score
If you have a low credit score, then financing your vehicle might be exactly what you need to build that score back up. Having a low credit score can affect your financial health greatly and make it hard for you to get things like loans and mortgages.
But many dealers will offer financing for the vehicles even if you have a low credit score. And when you get financing and pay your monthly payments on time, this will help to boost your credit score and show lenders that you are someone they can trust.
3. No Collateral Necessary
When you get loans for major purchases, many lenders will require that you provide collateral. This is to ensure that the lender has something to fall back on if you are unable to pay off the entirety of your loan. However, having to provide collateral can be stressful for you as the buyer.
The good news is that car loans don’t usually require collateral. The vehicle itself is generally considered to be security enough for the financer. If you’re unable to make your payments, then your financer will just take the car back.
4. Low-Interest Rates
When you take out a loan on a vehicle, you will have to pay interest on your loan. The amount of interest that you need to pay will vary based on several factors, including your credit score and the vehicle you are purchasing. The lenders themselves will also contribute to the amount of interest.
Your dealership wants you to get your financing from them. That’s why they will offer you the lowest and most competitive interest rates possible. If you want to make sure that you’re keeping your monthly payments as low as you can, then get your financing from your dealership.
Buying a new car is exciting. If you want to make sure that you’re getting the car that you deserve, it’s a good idea to consider financing. Are you ready to see what financing options we have available? Come talk to us today at Glasscock Chevrolet.
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