Average Chevrolet Finance Rates
One of the more confusing parts of buying a vehicle can be figuring out the loan process. It’s not always easy to know what your monthly payment will be for your Equinox or Silverado, and that can make things feel a little uncertain before you buy. But don’t worry — Bill Kay Chevrolet is here to help. We’ve put together this easy guide on average Chevrolet finance rates, so you can visit us near Lisle feeling confident and ready. Keep reading to learn more, and when you find the perfect vehicle, don’t forget to leave us a review!
Prime Credit – 680+
If your credit is around the 680 or above range, or what is known as a prime credit score, your chances of securing an auto loan are incredibly favorable. Not only will you likely secure a financing agreement, but the odds will also be in your favor in terms of significantly low interest rates. With a rating that is considered prime, you won’t have to feel too discouraged about paying an extra sum of money that wasn’t part of the original vehicle’s sticker price, leading to quicker loan pay offs in the long term.
Near Prime – 620-679
Parties interested in a factory-fresh Chevrolet vehicle with a credit score within the 620 to 679 bracket make up a large demographic of our customers. Figures within this range have strong approval odds in regard to auto loans, with interest rates that can be categorized as great. If you fall squarely within these credit store parameters, browse our online inventory or reach out to us about possible vehicle options. We believe you’ll be content with the offerings you’ll have access to and how happy you’ll be imagining cruising to Hitchcock Woods with them!
Subprime – 620-
When your credit score falls below the threshold of roughly 620, it is given the label of subprime. While it’s still likely that you’ll be accepted for a loan with this rating, your interest rates will be on the higher end of the spectrum than those who fall between the prime and near prime categories. Don’t fret — we own the bank and have the flexibility to work with all types of credit situations. Whether you’re putting a little down or a lot, we’ll do everything we can to get you approved and on the road in a vehicle you’ll love.
Our Dealership
Now that you’re aware of what certain credit score ranges mean for various types of buyers, let’s go over a few ways that we can help you purchase the next car you’ll use to get around Chicagoland. Those who recently graduated college or have a smaller credit footprint should look to our First Time Car Buyer Program to make the process less daunting. You can also apply for financing right from the comfort of your own home using our website, which will establish your borrowing power after only a few clicks and prompts. We also have a trained team of finance experts who speak with customers with varying credit ranges and lifestyles. That makes them well-versed, understanding, and eager to work with you!
