Chevrolet Finance Center
Koons Chevrolet Clarksville takes the stress out of auto financing. From advice on whether to buy or lease to finding the best rates available, our finance team will work with you every step of the way to craft finance terms that work for your lifestyle and budget.
We Make Financing Easy
Benefits of Leasing
Unless you're paying for your new car in full with cash, you'll have two options to consider: leasing and financing. There are pros and cons to both, so you should consider both options carefully.
When you lease a vehicle, you essentially rent it from the dealership. You will make monthly payments for the use of the car, but at the end of the lease term, you don't own anything. You return the vehicle when the lease is over. Lease terms vary, but many include maintenance costs like oil changes and other scheduled maintenance so you don't have to deal with these expenses. If you continually move from one lease to the next, you'll always enjoy a late-model car during its best years.
The disadvantage to a lease is that you will always have a monthly payment to contend with. Your lease will also place limitations on your use of the car, setting a specific number of miles that you're allowed to drive. If you go over the miles or do any kind of excess damage to the car, you will have to pay extra fees. You will also face penalties and early termination fees if you decide you can no longer afford the lease and need to terminate the agreement.
Benefits of Financing
Another option you might consider is to finance your vehicle. When you finance a car, you will eventually own the vehicle outright. A portion of your payments go toward interest, but the rest go to the vehicle itself. When you've paid off the loan, you will still have your car but you will no longer need to make monthly payments on it. The monthly payments on a car loan are usually higher than the payments on a lease, because you only pay for depreciation with a lease and you pay for the entire vehicle with a loan.
When you purchase a car, there are no limits on how many miles you can drive or what you can do to it. While cosmetic damage may lower the resale value of the car, it's not something that you'll have to pay for outright, and you may never suffer financially from stained upholstery or bumper sticker residue if you simply drive the vehicle for the duration of its lifespan.
Flexible Credit Options
Koons Chevrolet Clarksville offers vehicle financing right at our dealership. You can trade in your used vehicle, get a new loan approval, and drive away with your new car all in one transaction! Our finance team can help you with car loans and leases for Chevrolet vehicles. We'll assist as you compare your options and find the fit that's best for your needs. Whether that means leasing a new vehicle with a standard three-year term or exploring options for a long-term car loan, we can assist.
Finding The Right Vehicle For Your Budget
As you're considering your budget for a new or used vehicle, it's important to include all the costs associated with purchasing and owning a vehicle. When you buy a vehicles, you have to pay more than just your down payment. You also need to account for:
- Registration
- License plates
- Title fees
- Sales tax
- Dealership fees
There are also ongoing expenses that come with vehicle ownership. Even if you're simply replacing an existing vehicle with a new one, you will need to think about how these costs will change. Consider:
- Fuel Costs: If your new vehicle is more efficient than your last one, your fuel costs should go down. Compare the MPG of your previous vehicle with the one you're purchasing for a better idea of how fuel expenses will compare.
- Maintenance: All vehicles require regular maintenance to stay in prime condition. The older a vehicle is, the more maintenance it will need. If you're purchasing a used vehicles, you might need to consider the cost of a new battery, tires, or windshield wipers in the near future.
- Vehicle Insurance: Speak with an insurance agent before purchasing a new vehicle to get a quote for your new Vehicle insurance. You may have to pay more each month for comparable coverage, depending on the type of Vehicle you're replacing. You may also want to reconsider the insurance you're carrying. If you're taking out a loan for a new vehicle, gap coverage is an important consideration. This will cover the unpaid portion of your loan if your Vehicle is totaled before it's paid off.
With these expenses in mind, you can determine how much you can afford to pay as a down payment for your vehicle now and how much you can pay each month in vehicles payments. It's important to find a vehicle you can comfortably afford so your new vehicle doesn't put undue strain on your finances. Our payment calculator will help you compare different vehicles and see how much you'll pay each month based on your down payment, term, and APR.
Contact Koons Chevrolet Clarksville today to learn more about our financing options, find out what's available on the lot, or make an appointment to visit the dealership. We're open seven days a week, so you can find the vehicle you're looking for on your schedule. Plan your visit now.
Frequently Asked Questions
This important choice comes down to your monthly budget and how you expect to use your vehicle. Leasing typically comes with a lower monthly payment than a traditional loan, but there are restrictions on mileage and customization. On the other hand, a loan may be associated with a higher payment but you will be building equity and will spend less over the life of the vehicle. You can read more about buying vs. leasing here.
We will work with you to craft the deal that works for your budget. Most loan terms will fall between 48-72 months, with longer financing terms resulting in lower payments.
We’ve worked with countless customers with all kinds of credit to help them discover their financing options.
In most cases, we can offer financing with no down payment. We can also roll taxes, registration, and fees into the financing deal if that works best for you.
- APR: The Annual Percentage Rate.
- Assignment: A transfer of a loan from one lender to another.
- Base Price: The costs of a vehicle with standard equipment incentives and freight.
- Certificate of Title: A legal document issued by a state at the time of sale.
- Co-signer: A person who takes on a loan if the original borrower stops paying.
- Default: Failure to meet the terms of the loan.
- Interest: A percentage charge for a loan.
- MSRP: Manufacturers Suggested Retail Price.
- Refinance: When one loan is used to pay off another.
- Term: The length of the loan—24, 48, 60 months, etc.
- Underwriting: Verifying the data used to obtain a loan.
Ready to begin?
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Koons Chevrolet Clarksville
12421 Auto Drive
Clarksville, MD 21029
- Sales: (410) 988-9522
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