Finance the Vehicle of Your Dreams

We at Phillips Chevrolet carry an assortment of vehicles, from sedans to commercial-grade vans. You will surely find something to suit your needs for driving around town. When it comes to the final purchase, consider sitting down with our finance team. We can help you apply for financing at our many locations around Lansing, Frankfort, and Bradley, IL.

How Financing Works

Financing is applying to get approval for a loan from a dealer or a third-party lender and paying it back monthly. The end goal for financing is to own the vehicle. The application will commonly ask for your address around Bourbonnais, income sources, date of birth, and social security number.

Upon approval, you pay the loan in installments based on 12-month increments, usually running 24 to 84 months. Some lenders require a down payment, a percentage of the vehicle cost, to reduce the loan amount.

Financing a vehicle means you can drive unrestricted outside of Joliet. It also allows for more freedom and customization options since you own it. You may also sell or trade it in to get a lower price on a new model. Buying a vehicle increases the equity as long as you make timely payments, which you can use to buy another model.

Explore Leasing Options

Leasing is another choice drivers have to get behind the wheel of a newer vehicle in Oak Lawn without owning it. Simply pay the dealer monthly to essentially rent the vehicle for so many months. What you pay may be based on credit score, expected depreciation, vehicle type, maintenance requirements, and insurance requirements.

Leasing is ideal if you don't travel out of Frankfort often or need a temporary vehicle. Since payments are based on depreciation rather than vehicle cost, it's common to pay less for leased vehicles. You are not committed to the vehicle and give it back to the dealer when the lease is up.

Apply Online

If you don't have time to visit Phillips Chevrolet yet, we have several online tools to help you get started. Find out how much you qualify to borrow or lease by entering your details and get a response in minutes. Check out our online application today to save time when you're ready to meet with us!