Buying a car is a big decision. It may even be one of the most expensive purchases you'll make in your lifetime. Even though the cost can be intimidating, searching for, finding, and test-driving a vehicle can be an exciting process.

Once you've found your dream car, the only thing left is to get the financing to buy it. If you're not careful, you could pay much more for your vehicle than necessary. Luckily, Ciocca Chevy of Red Lion, Pennsylvania, is here to help. Here's how our Finance Center can help you find the best lease or loan for your situation.

The Finance Center at Ciocca Chevy of Red Lion

Our financial experts and professional financial advisors have one goal - to make your car-buying experience as simple and stress-free as possible. We offer multiple financing options and incentives to ensure your monthly payments are affordable throughout your lease or loan.

Our team of experts will also answer any questions you may have, so you'll never feel pressured into any decision. We'll ensure you have all the information, resources, and support to make the car-buying process a breeze.

What You Can Do Before Applying For Financing

Before you apply for financing, there are several actions you can take to prepare. First, you'll want to do your research. You'll need to know your credit score and history and what type of vehicle you desire and can afford. The lower your credit score, the more likely you are to have a higher finance rate on your auto loan. So, a vehicle you previously thought was affordable may be out of your price range once you factor in your probable financing rate.

Once you've determined your likely rate, you'll want to research the type of vehicles that match your price range. Compare prices across different dealerships to ensure you get the best price. Similarly, you'll want to compare various rates from banks, dealerships, and other financial institutions. The more knowledge you have before making a final decision, the more likely you are to secure the best deal possible.

You can determine your likely monthly payments through our online payment calculator.

What To Know About Your Credit Score

Your credit score is a three-digit number that companies generate using information from your credit report. This number helps creditors, such as banks or finance companies, determine the risk of their loans. One of the most used credit companies is FICO, which many lenders use when making such decisions.

FICO scores range from 300 to 850; the higher your score, the better. Companies determine this figure by examining your payment history, how much you owe on other loans and credit cards, and the length of your credit history.

Loan vs. Lease

When it comes to deciding whether a loan or lease is better for your finances, there are several factors you should consider. These factors include:

Ownership

The primary benefit of financing a car over leasing one is that you'll own it after paying off your loan. So, if you finance your vehicle, you'll have no payments once you pay your loan off, and you can sell or trade that vehicle in when shopping for your next one. While you can eventually purchase a car you previously leased, you'll pay more than if you financed it from the beginning.

Payments

Typically, lease payments will be smaller than loan payments. Similarly, your down payment on an auto loan will usually be less than you'd need for a lease. Some leases even include a $0 down payment, depending on your credit. You'll also have to pay for maintenance and repairs if you finance your vehicle. On the other hand, when leasing a car, you'll need to pay fees for excessive wear and tear or if you ever want to exit your lease.

How Much You Drive

Most leases include annual mileage restrictions. These limits vary depending on the vehicle and dealership but typically range between 10,000-15,000 miles. So if you're a frequent driver, it may be impractical for you to lease a car as you'll end up paying additional fees for exceeding this limit or accruing excessive wear and tear.

Protecting Your Investment

Any time you get behind the wheel, you take on significant risks. Even if you're a perfect driver, there's a chance that other drivers or environmental factors can damage your vehicle. That's why we offer extended protection plans and other forms of coverage. These individual protection plans can help you reduce maintenance costs and prevent an accident from leaving you with undue financial burden. Some of these individual protection plans include:

  • Mechanic Vehicle Service Contract: Depends on the level of coverage you select, and prevents you from facing unexpected repair bills. It also reimburses you for rental fees when necessary and provides access to 24/7 emergency roadside assistance.
  • GAP Plan: Ensures you won't have to repay a loan on a stolen or totaled vehicle.
  • Platinum Plus: Provides coverage for mechanical issues and repairs, including those resulting from general wear and tear.
  • Three for One (Road Hazard Protection): Protects your vehicle from unexpected bills for dents, wheel and tire damage, and windshield repairs.

Check our website to learn more about these individual plans and coverages.

Finance Your Next Vehicle at Ciocca Chevy of Red Lion

If you're ready to purchase a new or used vehicle in Central Pennsylvania, Ciocca Chevy of Red Lion is the best place to do so. We have a massive inventory of new Chevys and high-quality used vehicles, and our professional financial advisors will help make your purchasing process as simple and smooth as possible. You can even submit your finance application online to get approved before you visit.

Want to see or test-drive one of our vehicles for yourself? Contact us online, call 717-417-4027, or visit us at 3220 Cape Horn Road in Red Lion, Pennsylvania.