Finance vs Lease

Here at Viva Chevrolet, we do everything in our power to help you get behind the wheel of an incredible new Chevy vehicle that’s perfect for your individual needs and unique lifestyle. We understand that every driver is different, and the diverse Chevy lineup provides options for every kind of driver. Those differences apply to your financial situation, too, which is why we strive to provide you with plenty of options when it’s time to finance a Chevy at our El Paso dealership!

One question that our shoppers often have is: what’s the difference between financing and leasing a vehicle? Just like our experts are here to help you explore the Chevy vehicles we sell, they’re also here to help you explore your financing options and shed some light on the pros and cons of each.

Chevrolet Financing Options in El Paso

When you finance a vehicle, you’re simply arranging a payment plan for the cost of the vehicle. In most cases, you’ll make a down payment and then reach an agreement with our staff for paying off the remainder of the balance. We’ll work with you to help you find a time frame, monthly payment, and interest rate that work for your unique circumstances to help you get behind the wheel.

When making a down payment, you’ll likely want to trade in your vehicle at our El Paso dealership. This is a great way to get rid of your old vehicle while also getting a sizable amount to put toward your new purchase!

Alternatively, you may choose to lease a new Chevy from us. When leasing a vehicle, you agree to a length of time that you’ll keep the vehicle–this is the lease term, and is typically a few years long. You’ll only pay for the portion of the vehicle that you use it, and then you’ll either choose to purchase the vehicle outright or to return it to our dealership.

Since you only pay for part of the vehicle’s lifespan when leasing, a big benefit in most cases is a lower initial payment and lower monthly payments. This is also ideal for drivers who prefer to get into a brand new vehicle every few years, since you can simply return your vehicle at the conclusion of the lease and then choose to lease a newer model.

Each of these options provides a range of benefits; which one is right for you depends on your situation and goals, so we suggest sitting down with our experts to take a look at how you can save! To learn more about financing options here at Viva Chevrolet, be sure to contact us online or to give us a call at 915-308-7994. We’re always here to help ensure you have the best experience possible!