Chevrolet Finance Program Explainer
If you've seen an offer like Chevy 1.9 financing for 72 months, you may be wondering what it actually means and whether you qualify. Chevrolet frequently offers promotional financing on select new vehicles, allowing qualified buyers to finance their purchase at a lower interest rate than a traditional auto loan. At Gillman Chevrolet Harlingen, our finance team can walk you through the available options and help you choose the one that's right for you.
What Is Promotional Financing?
Promotional financing is a special interest rate offered by General Motors Financial or another participating lender on eligible new Chevrolet vehicles. These offers typically feature lower Annual Percentage Rates (APR) than standard financing and are available for a specified loan term.
For example, an offer advertising 1.9% APR for 72 months means qualified buyers may be able to finance a new Chevrolet for six years at a 1.9% annual interest rate, subject to approval and the terms of the promotion.
Who Qualifies for Promotional APR Offers?
Special financing offers are generally reserved for well-qualified buyers. Lenders consider several factors when determining eligibility, including:
- Credit history and credit score
- Income and employment information
- Existing debt obligations
- Loan amount
- Down payment
- Loan term
Even if you don't qualify for the promotional rate, other competitive financing options may still be available.
What Loan Terms Are Available?
Promotional financing can be offered across a variety of loan terms depending on the vehicle and current manufacturer incentives. Common financing terms include:
- 36 months
- 48 months
- 60 months
- 72 months
- Occasionally longer terms on select models
While longer loan terms generally reduce the monthly payment, shorter terms typically result in less interest paid over the life of the loan.
Is Leasing a Better Option?
Whether financing or leasing is the better choice depends on your driving habits and ownership goals. Financing allows you to build equity in the vehicle and eventually own it outright. Leasing may provide lower monthly payments and the opportunity to drive a new Chevrolet every few years. Our Chevy finance team can compare both options to help determine which best fits your budget and lifestyle.
Explore Chevrolet Financing Options
Whether you're interested in promotional APR offers, traditional financing, or leasing, our team is here to help you understand every available option. Visit our Chevy dealership in Harlingen, TX to discuss current Chevrolet financing programs and explore available inventory.
