When Does Chevy Offer Zero (0%) Financing?

Chevrolet is a leading automobile brand. It offers several sports cars, SUVs, Trucks, and commercial fleet vehicles.

Chevrolet is a GM subsidiary and its financing is handled through GM financials. It offers special interest rates and cash discounts for its customers.

Let us discuss Chevrolet’s financing options and its famous zero financing program.

Chevrolet – Introduction

Chevrolet informally referred to as Chevy was founded in 1911. Its headquarters is located in Michigan, United States. It was acquired by and is now a subsidiary of the leading American automobile company General Motor (GM).

Chevrolet is famous for its sports cars, trucks, SUVs, and HSVs. It operates in different parts of the world through its authorized dealers.

In some locations, it offers services through joint ventures. For instance, it sells vehicles in Europe in collaboration with GM Daewoo of South Korea.

Some of the currently available Chevy models include:

  • Equinox
  • Blazer
  • Tahoe
  • Suburban
  • Colorado

Chevy’s famous sports car models include:

  • Z06 GT3.R
  • Corvette C8.R

When Does Chevrolet Offer Zero (0%) Financing?

Chevrolet’s financing is handled and offered by GM Financial which is another subsidiary of General Motors (GM).

Almost all the discounts and promotions offered by the GM company are available at Chevrolet as well. However, there are a few distinctive offers specifically offered by GM subsidiaries including Chevy.

Chevy’s famous zero financing offer is officially called the TRUCK MONTH. Usually, the truck month spans from September to October every year. Customers buying new cars should estimate around six months for car delivery.

For the currently going truck month, the last date to book your vehicle at 0% financing is April 22, 2022. The offer is valid for selected Chevy models and eligible borrowers.

The eligibility criteria may vary by your location and dealer offers but usually, you’d need a high credit score to qualify for 0% financing at Chevy.

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Chevrolet Special Offers and Discounts

On top of zero financing, Chevy offers special offers and discounts on different vehicles occasionally. Then, there are a few special discounts for special purposes that are offered as a long-term promotion by Chevrolet.

Most of these promotional discounts are available for new or pre-owned vehicles.

Chevrolet Military Program

Chevrolet offers special interest rate discounts and cash rebates in its Military Program like its owning partner GM.

Military program is offered to:

  • members, Veterans, and Retirees of Military forces including the US Army, Navy, and Air Force.
  • Active duty members, Veterans, and Retirees of Coast Guard, Marine Corps, National Guard, and Reservists.

This program offers:

  • $500 cash rebate on selected Chevrolet, GMC, and Buick Models.
  • $1,000 cash rebate on selected Cadillac models.

This program offers a 25% discount on applicable rates for the full credit term chosen by the applicant. Borrowers must fulfill the documentation and other requirements to be eligible for this promotion.

Chevrolet Educators Program

This special discount program is for educators at available dealer locations throughout the US.

Eligible participants for this program include employees of public, private schools, colleges, and universities. Some educators may not be eligible for this promotion due to the municipality and state regulations.

This program offers a $500 cash rebate on selected Chevy models at selected dealer locations. This program can be combined with other seasonal promotions and discounts.

Chevrolet College Program

Chevrolet college discount program is for college graduates. Recent graduates within two years can also apply for the discount through this offer.

Eligible applicants and their spouses can take a cash rebate of $500 through this option. This program may not be available at all dealer locations.

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College graduates and their spouses must fulfill the credit score and documentation requirements for application approval.

Chevrolet First Responders Program

Chevrolet’s cash rebate program is also offered to first responders. This program also offers a cash rebate of $500 to first responders.

First responders include firefighters, 911 employees, healthcare employees, paramedics, and police officers.

Buy v Lease Decision at Chevrolet

A buy v lease is a common question for car buyers. The answer depends on several key factors including your financial position.

When You Should Buy a Chevy?

If you hold a good credit score that can help you obtain car financing, you should almost always choose to buy a Chevy.

In most cases, you’ll need a down payment. Then, the interest rate or APR will be the key factor. If you can afford to pay higher monthly installments for the credit term of 5 or 7 years, then buying a Chevy is your best option.

When You Should Lease a Chevy?

If you don’t have sufficient money to make a down payment and you cannot afford to make monthly installments for a longer period, leasing a Chevy is your option.

A car lease enables you to choose your preferred car without buying it. However, the drawback of a lease is that you make monthly payments for the lease term without ever owning the car.

For a 3- or 5-year lease term, you’ll almost pay half the price of the car without buying it. The benefit is smaller monthly payments without spending upfront money.

How to Apply for Chevrolet Financing?

You can apply for Chevrolet financing directly through GM financial portal or an authorized dealer’s website.

Applying for Chevrolet financing takes a few minutes to complete and it is very easy. To apply for finance, there is certain information that applicants will need to provide: That information includes:

  • You will need to provide the personal information including name, date of birth, social security number, contact details, address, etc.
  • Vehicle information including make, model, and year.
  • Complete residence information.
  • Income information including employer name, gross income, etc.

You should also carry a high credit score to be eligible for Chevrolet financing. Although there is no mention of the credit score requirement, you can expect approval with a tier 1 credit score.

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Pros and Cons of Chevrolet Financing

You’ll get the best Chevrolet financing deals when your credit score is higher. Simply, if you enjoy a clean credit history and carry a good credit score, you can expect a good financing deal for your favorite Chevy.

There are some pros and cons of Chevy financing.

The Pros include:

  • On certain deals, you can get a 0% APR offer. There is no better offer than getting a 0% APR when normal interest rates are around 3%.
  • Applying for Chevy financing is simple and convenient through GM financials’ online portal.
  • Eligible applicants can enjoy cash rebates and special price discounts as mentioned above.
  • You can easily apply for a personal loan and buy your favorite car without using a direct Chevy financing option.

A few cons of Chevy financing include:

  • 0% APR may not be available at all dealer locations and for all vehicle models.
  • Approval requires a good credit score and an established income source.
  • Most of the offers are available at GM official dealer locations only.

Chevrolet Financing Alternatives

A simple alternative to Chevy financing is to get approved for a personal car loan. The credit terms would be different for a bank loan than at a GM dealer location.

You can also apply through third-party automobile lenders but expect higher APRs than offered by GM financial.

Commercial banks and online lenders like LightStream are other useful options for your Chevrolet car financing.