Are you getting ready to start shopping for a new car? You might be wondering if you should get car financing for your purchase. Here are a few great ways that getting financing from your Chevy dealer can help you. 
4 Benefits of Getting Car Financing at Your St Louis Chevy Dealer
1. Maintain Your Savings
If you have enough money put away in your savings account to cover the entire purchase of your car, you might be tempted to use it up. But you might want to rethink this decision if you’re concerned about your financial situation.
Having a savings account can help you make other big purchases or cover any emergencies that might come up. While paying for the entirety of your vehicle with your savings might seem like a good idea, you might regret that decision if something else comes up. Getting financing will allow you to keep growing your savings.
2. Enjoy Low Insurance Rates
When you purchase a vehicle, you will have to pay insurance for it. Your insurance company will use a variety of factors to determine what your insurance rates are going to be.
One of the factors they’ll consider is whether or not you’ve gotten financing for your vehicle. In many situations, financing can help you get lower insurance rates. So if you’re interested in saving more money on your insurance rates in the long run, you’re going to want to consider getting financing.
3. Increase Your Credit Score
Do you have a low credit score? Or are just looking to find ways to improve your score even more? Your credit score has a huge impact on several parts of your life, including your ability to get loans, mortgages, and even rental properties.
The best way to improve your credit score is to get a loan and pay it off on time. Unfortunately, it can be hard to get a loan if you have a low score. But vehicle financing is often very easy to get regardless of your credit score, which will help you build it back up.
4. Afford the Car You Want
If you are planning on only buying what you can pay for in cash, you might end up having to make some compromises. You may not be able to get the particular model you want, or all the features you wish you could have.
But when you get financing, you’ll only have to pay a percentage of the car’s price for your down payment initially. This means that you’ll be able to buy a more expensive car instead of having to settle for something cheaper. Get the fancy model you’ve been eyeing with all its most amazing features when you get financing.
If you’ve been thinking about getting financing for your car, there are lots of great reasons to do it. Make sure you talk to your dealership about the financing options they can offer you. Give us a shout at Bommarito Chevrolet South County to learn more.
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