Ask a Finance Expert at Symdon Chevrolet of Mount Horeb
Financing a Chevy in Wisconsin is made simple when you work with the experienced team at Symdon Chevrolet of Mount Horeb. Our auto financing experts know how to help customers navigate the car-buying process and evaluate a payment plan that works with their budget. We have answers to your nuanced and complex questions, so turn to our Chevy dealership near Madison to get the expertise you deserve.
Take a look at our selection of new Chevy trucks and SUVs to find the model that has the features you need. Then chat with our Chevy finance team to learn how to finance a car in WI. We'll make sure you fully understand how to apply for financing and how to secure a favorable interest rate on a car loan. We're here to be your guide through the Chevy financing process!
Shane Jenkins
Business Manager
(608) 620-6334
Chevy Financing FAQs, Advice and Tips:
01What are current interest rates to buy a car?
Currently, with decent credit, most auto loans are 6-8%. The Federal Reserve sets target interest rates for overnight bank-to-bank lending nationally. This maintains reserve requirements as well as the discount rate -- the interest rate at which banks can borrow directly from the central bank. Lenders use this as a guideline for their rates.
02How do I get a good interest rate?
To get the best interest rate, you need to maintain excellent credit. Pay your bills on time and don’t take on more debt than your income can handle.
03How much of a down payment do I need to finance a car?
While many people can finance or lease a car with $0 down, we recommend putting at least 10%-20% down for the best rate.
04What additional costs will I be responsible for when buying a new car?
In addition to the price of the car, truck, van or SUV, there are additional costs. Most states, including Wisconsin, require you to carry auto insurance. You also must pay tax, title, licensing and any dealer fees (destination, documentation, etc.), which are set in large part by the manufacturer.
05How can I find the value of my trade-in?
We have a great tool right on our website to help with that! Value a trade-in with ease online.
06Does my credit score impact my loan rate?
Absolutely! Your credit score is very important. The higher your credit score, the more likely you are to get a lower rate.
07I have a low credit score or no credit history yet — can I still finance a car?
You certainly can! A good down payment will help, and a co-buyer with great credit will also increase your likelihood of approval as well as keeping your interest rate lower.
08What’s the best length for a car loan?
The best length for a car loan is one that fits your monthly budget without straining it. For some people, that means a short-term loan of 36 months, which will work fine. The monthly payments will be higher, but it will be paid off faster, and less interest will be paid over the length of the loan. For other people, a longer-term loan will fit better. For newer vehicles, people will take out loans as long as 84 months. We are here to work with you, finding the right car, truck or SUV for your needs, and we will help you to get the right loan length for your situation.
09Can you offer a better interest rate than my pre-approved rate?
Yes, we can! We work with more than 30 lenders regularly, and since we give them a lot of business, they usually give us better rates than they give to an individual borrower -- even if it is someone who banks with them.
10Can I reduce my monthly car payments down the road?
You sure can! We know that people’s situations are constantly changing. So if you find yourself with some extra room in your budget, paying more toward your principal or refinancing when the fed drops their rates or your credit score improves can reduce your payments.
11Can I sell my car while I’m still paying it off?
Your best bet for this is to visit our local Chevy dealer. Until your vehicle is paid off, you won’t have the title -- the lienholder will -- so transfer of ownership will have an extra couple of steps. If you are buying a vehicle from us, trading in your current vehicle will allow you to potentially reduce your tax liability on the new car, roll any additional payments due into the new loan and walk away knowing that everything has been handled correctly by professionals who do this every day. We are here to take care of you!
12Can I add a warranty when I buy a car?
We recommend it, though maybe not from the people constantly calling, emailing and texting about your vehicles extended warranty. All new and Certified Pre-Owned Chevy vehicles come with warranties from General Motors. You can add additional coverage and products, like interior and exterior protection, wheel and tire, and maintenance plans to almost any car, truck or SUV you buy from us!
Finance a Chevrolet in Wisconsin
Are you ready to upgrade your ride to a new Silverado 1500 or used Tahoe near Madison? Contact Symdon Chevrolet in Mount Horeb today and speak with our Chevy finance specialists. We'll help you compare auto loan options and secure a payment plan that works with your budget. Come shop with us today!