Are you looking to get behind the wheel of a new vehicle? Purchasing a new car is an exciting experience, but it also requires careful consideration of how you'll finance or lease your next ride. Our dealership serves Edwardsville with a wide selection of new Chevrolet, Buick, and GMC models.
Troy, IL drivers can also find great deals on new vehicles at our dealership in the Metro East area. Read on to learn more about financing vs. leasing and then apply to get pre-approved for financing.
Should You Finance a New Vehicle?
Financing through an auto loan allows you to purchase and own the vehicle after making monthly payments over a set repayment term. Auto loans typically range from 24 to 72 months, with longer terms resulting in lower monthly payments and more interest over the life of the loan.
Financing makes sense if you plan to keep the new vehicle long-term. While interest rates are higher than leasing, you'll eventually own the car free and clear once the loan is paid off.
Who Benefits From a New Car Lease?
Leasing allows you to essentially rent a new car for a fixed period of time, usually 24 to 36 months. You'll make lower monthly payments compared to financing because you're only paying for the vehicle's depreciation during the lease term, plus interest and fees.
At the end of the lease, you return the car instead of owning it. Leasing is better for drivers who like to trade in for a new car every few years to get the latest models with up-to-date tech and safety features.
Our Finance Center Can Help You Secure an Auto Loan or Lease
The finance experts at our dealership in South West, IL will explain your options and help determine if leasing or financing is better for your budget and ownership goals. We'll search for the rates and terms to fit your needs.
We also have relationships with local lenders and credit unions to help those with challenged credit get approved for auto financing. Start the process online by completing our secure credit application to get pre-approved.
Complete Our Online Pre-Approval Form
Get your new car shopping started by completing our online credit application. Our finance team will search for the ideal auto loan or lease terms for you. With pre-approval, you can shop our lot with confidence and take advantage of our current lease and finance offers.
We invite you to view our featured vehicles to get your new car shopping started. Visit Steve Schmitt Inc. in Southern, IL to check out the latest Chevy, Buick, and GMC models and take advantage of our competitive financing rates.