3 Common Chevrolet Financing Mistakes to Avoid

The Chevrolet financing process doesn’t have to be overwhelming. At Castle Rock Chevrolet, we work one-on-one with your financing needs, to help you take home the right vehicle at the right price. Learn about common financing mistakes to avoid, and begin the financing journey with help from our team.

Ignoring Your Credit Score

Your credit score is one of the most important factors to account for when financing a vehicle. It tells lenders how reliable you are to lend money to, and can affect term length, interest rates, and the types of vehicles available to you. You always want to check your credit score before you begin the vehicle financing process, and take the time to raise it, if possible.

Not Considering a Trade-In

One of the best ways to save on your next vehicle is by trading in your current model. The value of the trade-in vehicle will be deducted from the down payment, which means you won’t need to take out as much of a loan. You’ll also save on the sales tax, as the trade-in vehicle value is deducted before sales tax is calculated.

Not Budgeting

If you’re not sure where to start when it comes to your new vehicle budget, turn to the 20-4-10 rule. It recommends putting down 20 percent of the vehicle’s purchase price, and paying it off over the course of four years. It also recommends spending less than 10 percent of your monthly income on transportation expenses.

Begin Chevrolet Financing in Castle Rock, CO

No matter what your vehicle financing needs might be, you’ll find the support you deserve at Castle Rock Chevrolet. We offer a range of financing tools and resources, including an online finance application, vehicle trade-in value estimator, and payment calculator to help every step of the way. Get started at our dealership.