How to finance a Chevrolet

Students, military members and employees may qualify for a discount on their next Chevy.

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Red Chevrolet Impala

No matter if you’re looking to spend less than $15,000 on a modest hatchback or you’re willing to shell out over $50,000 for a luxurious SUV, Chevy has you covered. And when it comes to financing, you have a few different avenues to take. While in-house financing at an authorized dealership might be the fastest way to go, you’ll likely find a more competitive rate if you shop around elsewhere.

How can I finance a Chevy?

To get the best deal on a car loan, you’ll want to shop ahead. Prequalifying with a few different banks, credit unions or online lenders will allow you to compare rates and learn how much you can really afford to borrow. And while it takes some preplanning, it gives you the ability to walk into the dealership with funding in hand — which can help you avoid rate markups.

But if you’re in a rush to buy, financing through GM — Chevrolet’s parent company — at an authorized dealership is the quickest option. Many can process your paperwork the same day, and you may still be able to negotiate the details of your loan to get a good deal. Here’s how financing and leasing with GM Financial breaks down:

  • Financing through GM Financial. GM Financial has offered competitive deals like 0% financing for 36 months on a Denali Pro Grade 2020 Acadia plus $4,324 of employee discount price adjustments with no payments for 180 days.
  • Leasing through GM Financial. Many 2019 and 2020 GMC models have lease deals with low monthly payments. These change frequently, however, so check often to see what lease terms you might be eligible for.

As with all loans, the rates and terms you’re ultimately approved for will depend on your personal financial situation. The lowest rates are typically reserved for well-qualified drivers with spotless credit reports, low debt-to-income ratios and high incomes.

Compare car loans to finance a Chevy

Name Product Min. Loan Amount Interest Rate Fees Loan Term Min. Credit Score
Car Loans Canada
$7,500
3.99% to 29.90%
Varies by lender, loan type and province
12-84 months
300
Search thousands of vehicles online, including $0 down options, from dealers across the country and get matched with affordable financing options. Auto loans are also available to those with bad credit, consumer proposals and bankruptcies to help rebuild credit.
CarsFast Car Loans
$500
4.90% to 29.90%
Varies by lender, loan type and province
12 months - 8 years
300
Browse thousands of vehicles from dealers across Canada and get matched with financing that meets your needs. Apply online to purchase a new or used vehicle and get the vehicle delivered to your door.
LoanConnect Car Loans
$500
1.90% to 46.96%
Varies by lender, loan type and province
6-60 months
550
Get access to 25+ lenders through LoanConnect's brokerage. Receive pre-approval in as fast as 60 seconds and get your funds in as little as 24 hours.
Carloans411 Car Loans
$500
1.90% to 19.99%
Varies
Up to 84 months
300
Get connected with suitable lenders through CarLoans411. Finance your next car, van or truck with loans available in amounts from $500 to $35,000. Check eligibility for this loan through LoanConnect.
Auto Arriba Car Loans
$3,500
8.99% to 29.50%
Contract fee of $499.00
6-84 months
N/A
Auto Arriba offers car loans starting at $3,500 up to $100,000, with as little as a 30 minute loan turnaround time. On a limited number of approved loans, Auto Arriba is currently offering a rebate of the amount of your first scheduled payment 30 days after it has been processed up to a maximum of $500.
Fairstone Secured Personal Loan
$5,000
19.99% to 23.99%
Varies by province
3-10 years
560
Fairstone offers secured personal loans up to $35,000.
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Compare up to 4 providers

Does Chevrolet offer special discounts or programs?

Yes, Chevrolet offers a variety of discount programs through its parent company, GM. These can be combined with current offers for extra savings. Discounts include:

  • GM Scotiabank Visa Cards Rewards Program. This program allows you to earn rewards points with everyday purchases on your GM Scotiabank Visa Card, which you can redeem toward the purchase of a GMC vehicle.
  • GM Preferred Pricing Program. Any eligible GM employee can purchase a new GMC, Cadillac or Buick at a discounted GM Employee Pricing.
  • $1,000 GM Mobility Vehicle Adaptation Program. This program offers up to $1,000 in reimbursements to adapt an eligible GM vehicle with select mobility equipment.
  • $500 Canadian Forces Appreciation Program. Eligible military personnel — including active-duty members, reservists and veterans (as well as spouses) — may be eligible for a discount of up to $500 off the manufacturer suggested retail price (MSRP) off a new Chevrolet, Cadillac, Buick or GMC vehicle.
  • GM Family First Discount Pricing Program. This program allows employees and family members of GM to purchase or lease a new GMC, Chevrolet, Buick or Cadillac vehicle at a discounted price below the MSRP.
  • $750 Student Bonus program. Current students and those who have graduated within the past 4 years may also qualify for a discount of up to $750 on the purchase of a GMC, Chevrolet, Buick or Cadillac vehicle.

What will a new Chevrolet cost me?

Because of the wide range of models and trims available, you may pay anywhere from $13,000 to over $50,000 for a new Chevrolet. The final price will depend on where you live, your negotiation skills and any discounts you may qualify for.

Choose a type of vehicle

Cars

Chevrolet Spark

2020 Chevy Spark

  • Starting MSRP: $9,998
  • Build: Hatchback
  • City/highway MPG: 30/38
Chevrolet Malibu

2020 Chevy Malibu

  • Starting MSRP: $25,248
  • Build: Sedan
  • City/highway MPG: 29/36
Chevrolet Camaro

2020 Chevy Camaro

  • Starting MSRP: $29,448
  • Build: Coupe
  • City/highway MPG: 16/24
Chevrolet Corvette Stingray

2020 Chevy Corvette Stingray

  • Starting MSRP: $65,098
  • Build: Sports car
  • City/highway MPG: 16/25
Chevrolet Corvette

2020 Chevy Corvette

  • Starting MSRP: $67,898
  • Build: Sports car
  • City/highway MPG: 15/27

SUVs

Chevrolet Trax

2020 Chevy Trax

  • Starting MSRP: $21,898
  • Build: Crossover
  • City/highway MPG: 26/31
Chevrolet Equinox

2020 Chevy Equinox

  • Starting MSRP: $27,198
  • Build: Crossover
  • City/highway MPG:26/31
Chevrolet Blazer

2020 Chevy Blazer

  • Starting MSRP: $35,198
  • Build: Crossover
  • City/highway MPG:19/26
Chevrolet Traverse

2020 Chevy Traverse

  • Starting MSRP: $36,198
  • Build: SUV
  • City/highway MPG:18/27
Chevrolet Tahoe

2020 Chevy Tahoe

  • Starting MSRP: $56,398
  • Build: SUV
  • City/highway MPG:14/23
Chevrolet Suburban

2020 Chevy Suburban

  • Starting MSRP: $59,398
  • Build: SUV
  • City/highway MPG:14/23

Trucks

Chevrolet Colorado

2020 Chevy Colorado

  • Starting MSRP: $24,098
  • Build:Truck
  • City/highway MPG: 20/30
Chevrolet Silverado

2020 Chevy Silverado

  • Starting MSRP: $31,298
  • Build: Truck
  • City/highway MPG: 23/33

Electric/hybrid

Chevrolet Bolt EV

2020 Chevy Bolt EV

  • Starting MSRP: $44,998
  • Build: Hatchback
  • City/highway MPG: 128/110

Does a new Chevrolet come with a warranty?

Chevrolet offers its drivers three warranties for most cars, as well as a special warranty for its electric and hybrid models:

  • Bumper-to-bumper limited warranty — 3 years or 60,000 km
  • Powertrain limited warranty — 5 years or 100,000 km
  • Electric and hybrid warranty — 8 years or 160,000 km for certain components

In addition to these warranties, you’ll also receive complimentary roadside assistance and transportation.

Bottom line

Chevy offers vehicles to meet the needs of a wide variety of drivers — and there are plenty of financing options to go along with it. If financing directly through GM Financial doesn’t appeal to you, compare your other car loan options from banks, credit unions and online lenders to find the best deal available to you.

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