Finance or Lease a New Chevy From Winner Chevrolet in Colfax

Most people don't have enough to pay cash for a car, but a loan gets you on the path to owning that vehicle outright someday. Imagine paying off your loan and having no more car payments? What's more, as you make your loan payments on time, you're gradually creating an increasing share of ownership – or cash value – in that car. Your cash value is like money in your name and you can use it to help buy your next car, truck or SUV.

The main drawbacks of a car loan for most people are related to cash flow. Not everyone has enough cash on hand to make a 20% down payment just to get a loan. When that happens, a car loan might be out of the question and you might have to think about a lease. A lease usually requires upfront money too but it's less than a loan. In addition, the monthly payments for a car loan are nearly always higher than monthly lease payments.

In many ways, a car lease is like renting. You're paying for the opportunity to drive a car for a particular time period called the "lease term" – and that's usually 36 months. When the lease term ends, you return your vehicle to us at Winner Chevrolet of Colfax and cover the costs of any wear-and-tear or damage that's considered excessive.

You would also pay for driving beyond the maximum number of miles you're allowed in your lease contract. During your lease, you're responsible for getting standard factory-recommended maintenance done on that car while the leasing company or car dealership continues to own the car.

The key benefit of a lease for people in communities like Auburn and Grass Valley, is the chance to drive a car with lower monthly payments than you'd pay with a car loan. That can improve your monthly cash flow so you're not paying as much each month for transportation. What's more, the initial "amount due at signing" for a lease is usually lower than the down payment on a car loan.

When you no longer love a car you bought with a loan, you're responsible for the time and cost to sell it. With a lease, it's easier. At the end of a 36-month lease, you simply return that vehicle to us, pay any lease-end fees and we take care of the car. You then have multiple choices. You can sign a new lease and get another new car or buy another car. If you like having a new vehicle and the latest features every 3 years, a lease is a way you can do that.

Because a lease is like renting, you don't own the car but you still have to do the maintenance. A lease also puts a limit on how many miles you can drive without a penalty. Your lease payments aren't usually creating cash value you can use toward your next car and total costs are usually higher than total loan costs. Get in touch with the experts in our finance center to learn more about your financing options at Winner Chevrolet of Colfax in COLFAX, CA.