Ask a Chevy Finance Expert in Wisconsin
We know you have questions about Chevy financing options, which is why we gathered a list of FAQs that our F&I Department Director Jennifer Fliss hears most often. Our goal is to make the car-buying process as simple as possible, and the first step is making sure you're fully informed about the different auto loan and lease options that are available.
Check out our Chevy financing FAQs below, and don't hesitate to reach out to the financing team at our Chevy dealership in Hales Corners if you'd like to apply for an auto loan and estimate your trade-in value. We'll be happy to walk you through every step of the process!
Chevy Financing FAQs
What are the current interest rates to buy a car?
APRs are constantly changing and are based on Prime Rate. Your credit history, along with the vehicle and the structure of the transaction, are all used to determine your rate.
How do I get a good interest rate?
We have over 40 lenders that we work with, and our Business Office works with them to determine options for you. Some lenders look more at history, while others focus more on the current transaction.
How much of a down payment do I need to finance a car?
Every lender has different amounts that they want you to put down, but most lenders prefer 20%. However, many people are able to obtain financing with no money down at all. We can help you apply for an auto loan and determine how much you need down.
What additional cost will I be responsible for when buying a new car?
The additional costs added to a vehicle purchase vary by where you live and your transaction type, but the typical additional costs include a service fee, motor vehicle fee and sales tax.
How can I find the value of my trade-in?
The best thing to do is bring your trade-in to us and we'll look at it. We have decades of experience in appraising vehicles and will do our best to give you top dollar when we value your trade-in.
Does my credit score impact my loan rate?
Yes, lenders look at your credit score and use it as one of the factors in determining the APR. However, they're also looking at your specific history and the structure of the new transaction. High or low, we most likely have lenders who can help.
I have a low credit score -- can I still finance a car?
It's not just about your credit score. We have lenders who will offer you financing if you have a lower score and the rest of the structure fits into their parameters.
I don't have a credit history -- can I still finance a car?
We have a few lenders that have first-time car buyer programs. If you fit into the program, no score is no problem.
What's the best length for a car loan?
Everyone's financial situation is different. One person may apply for a 7-year loan and someone else may apply for a 3-year loan on the same vehicle. We can apply for whichever you prefer.
Can you offer a better interest rate than my preapproved rate?
Yes, typically we can compete with preapproval rates. We're usually either already partnered with the lenders that customers get preapprovals from, or they're our competitors.
Can I reduce my monthly car payments down the road?
In this situation, you would need to refinance the vehicle. There are no prepayment penalties with our lenders if you choose to do so.
Can I sell my car while I'm still paying it off?
Yes! The value will go toward paying off what you owe, and anything leftover can be applied to your next vehicle.
Can I add a warranty when I buy a car?
Service contracts can usually be added to vehicle purchases. Some vehicles may not qualify for a service contract and some lenders may restrict the purchase of one.
Have other questions for our Chevy financing experts or want to come in to apply for an auto loan? Contact Holz Motors and we'll be happy to assist you!