Welcome to the Eskridge Chevrolet Finance Center
Your New and Used Automotive Financing Experts
If you're considering a new car, learning more about buying and financing a vehicle can help your purchase experience become more enjoyable. These steps can include deciding your budget, choosing your vehicle, reviewing your financing options, and starting a loan application. At Eskridge Chevrolet, we're committed to giving you a better buying experience. Our team of experienced professionals can help answer your questions and even find your next new car. Below is information to help you make a purchase that fits your budget and personal needs.
Financing or Leasing? What's Best for You?
Unless you're paying with cash, one of your largest decisions when purchasing a new vehicle is whether you want to finance or lease it. Both choices offer advantages and disadvantages, and it's important to consider how each plan may affect your budget and long-term goals. If you plan to own your car for more than the payment length of the loan, which is typically five years, financing may be the better choice for you. Leasing may offer a good option if you're looking for a lower monthly payment. Choose a plan that you're able to commit to.
When you finance a vehicle, you take out a loan to pay for the total cost of the vehicle upfront. This lets you purchase the vehicle and begin driving it immediately. You make monthly payments on the vehicle until you've paid the entire cost of the car. Once you've paid the loan and the interest it accrues, you become the owner of the vehicle without lien. You then have full ownership of the vehicle without payments as long as you choose to keep it. Or you can decide to sell it for whatever price you ask.
When you lease a vehicle, you pay for its depreciation, which is the process through which a vehicle loses value over time. A common lease term is three years. During that time, a vehicle's value may depreciate by several thousand dollars, making it cheaper to purchase at the end of the lease. Similar to a long-term car rental, you're allowed to use and drive the vehicle throughout the term of the lease, but once the lease ends, you have to return the vehicle to the dealership or choose to purchase it at a reduced cost.
Whether leasing or financing is better for you depends on several factors. These include how much you can afford to pay monthly, how long you want to drive the vehicle, and how much money you want to spend overall. It's important to note that leasing is only possible with new vehicles, so if you're not looking for a brand new car, then financing may be the only option available to you. To get help choosing a plan that's right for you, contact the experts at Eskridge Chevrolet in Oklahoma City. You can also use our payment calculator to estimate monthly loan payments.
Should You Get a New or Used Vehicle?
Another choice you make when determining whether to finance or lease your next vehicle is whether you want a brand new car or a used one. To make this decision, there are several factors to consider, including how expensive each option is, how old a used vehicle is, and how many miles a used vehicle has before you purchase it. The last two factors are important because they can affect the quality of the vehicle and possible repairs. A used vehicle may have normal amounts of wear due to use and age, but even regular use requires milestone maintenance.
Buying used can offer a substantial discount and a reduced overall price for the vehicle. This can help you create a budget you're more comfortable with. However, if you can budget a monthly payment and don't want to worry about repairs, you may want to consider leasing a new car. You won't gain ownership with a lease, but you'd don't have to worry about the unexpected repair costs of used cars. Calculating which option fits your budget better can help you make the choice between a new car and a used car.
How Do You Start a New Loan or Lease?
You can use Eskridge Chevrolet's secure finance application webpage to start an application for financing a vehicle. Before you begin, you'll need to gather some of your personal information, including your name, current address, Social Security number, and the names of your current employers. Other necessary information may include income information, including bonuses you've earned, and any dividends and interest you earn from your assets. Finally, you'll need information about the vehicle you want, including the model, make, and year of the vehicle. Gathering this information in advance can make your application process go more smoothly and quickly.
If you encounter any challenges in your application, Eskridge Chevrolet's website offers a live chat feature that can help answer questions. Just click on the blue Chat Live button, found in the lower right corner of the webpage.
What if You Have Bad Credit?
Don't let concerns about your credit history discourage you from applying for financing. The professionals at Eskridge Chevrolet have experience working with bad credit car loans and can manage any history with bad credit or no credit. We can help you analyze your low credit and find a plan fit for your needs. Access our financing center webpage to find phone numbers and set up an appointment to personally discuss options that fit your needs. If you're looking for more tips about buying your next car, check out the Eskridge Chevrolet tips webpage.
Contact the Eskridge Chevrolet Finance Center Team
At Eskridge Chevrolet in Oklahoma City, Oklahoma, our experienced team of professionals can help you find the best options for your next vehicle purchase. All our online resources are secure, meaning you can make purchases, fill out applications, and create appointments from the comfort of your home. Use our easy-to-navigate banner at the top of our webpage to access our service center, learn about our current special offers, start the pre-approval process, calculate your potential monthly payments, find the trade-in value of your current vehicles, and more.