San Diego Chevy Finance FAQ

Your car loan application will go a lot more smoothly when you choose our Chevy finance center compared to your typical dealership. That’s because our team here at Kearny Mesa Chevrolet is on your side. And to make the financing process even easier for you, we’ve compiled some helpful answers to our commonly asked questions about car financing.

What’s the Difference Between Financing and Leasing?

Financing involves taking out a loan to make your car purchase more affordable. Once you complete these payments, you’ll own the car outright.

When you lease, you essentially borrow the car for 24 or 36 months, making low monthly payments based on the car’s estimated depreciation over that period.

How Does Credit Affect My Loan?

Generally, the higher your credit score is, the more you can borrow with lower rates. But even if you have low credit, you can use our credit assistance programs to get your loan approved at a good rate, allowing you to build up credit as you make your car payments on time.

What is a Down Payment?

Before you start making payments on your car purchase or lease, you typically need to make a down payment, which is simply money that’s owed upfront. Usually, your down payment will be about 20% of your total purchase.

What is an Interest Rate?

The interest rate you pay on your loan effectively functions as the fee you pay your lender for allowing you to borrow money. Your interest rate can change based on your credit score, how long your repayment term is, or how much you put down.

How do I Apply for Financing?

You can complete your loan application online in just a few minutes. If you want to discuss further options for lenders, troubleshoot any issues with your credit, or have any other questions answered, our Chevy finance team will be happy to assist you over the phone or in person at our dealership.

Contact our San Diego Chevy dealership today to learn more!