FINANCE CENTER

Your New and Pre-Owned Automotive Financing Experts

At Sharp Chevrolet, we facilitate the process of checking out your financing options before you even set foot inside our Watertown, SD dealership. Our financing experts will work with customers who qualify for auto loans to find financing terms and rates on new and used vehicles.

If you are looking to purchase one of our new Chevrolet models like the Silverado, Equinox, and Traverse, you can initiate the financing process right from home by completing our finance application form online.

Our financial experts will be able to help you understand the different aspects of the financing process including loan terms, interest rates, down payments, and many more.

What Does Auto Loan Pre-Qualification Mean?

With auto loan pre-qualification, it becomes possible for you to research and evaluate your financing options before buying a car. The information you receive, such as the loan amount, interest rate, or estimated payments, can depend on the lender and the application process.

Pre-qualification will allow you to make a budget for vehicle shopping and explore your financing options before you go to Sharp Chevrolet. Note that pre-qualification does not mean the final approval of the loan.

Pre-Qualified Auto Loan vs. Dealer Financing

While pre-qualification and dealer financing may provide assistance when investigating possible auto loan options, each of them has some differences.

With pre-qualified financing, you have an opportunity to start looking at your possible loan options even before choosing a car or going to the dealership. It helps you see what your budget will be and what your payments may cost.

When it comes to dealer financing, Sharp Chevrolet's finance department may work with potential lenders and financing companies to help you find possible loan or leasing offers after you choose a car. The advantage of dealer financing is that you have the chance to compare possible options in one place.

The decision on which option is better depends on many factors, including your situation, the vehicle you buy, and the available programs from lenders.

How Does the Auto Financing Process Work?

Financing a vehicle at Sharp Chevrolet can start online or with our finance team. The process typically includes:

1. Get pre-qualified or submit a finance application – Start online to provide the information needed to explore potential financing options.

2. Choose a vehicle – Browse new Chevrolet and pre-owned inventory based on your needs and budget.

3. Review financing options – Our finance team can help you understand available loan or lease terms, rates, and estimated payments.

4. Value your trade-in – If you're trading in a vehicle, use our online trade-in tool to help estimate its value.

5. Finalize your purchase – Once financing and vehicle details are confirmed, our team can guide you through the remaining purchase steps.

How Can I Estimate My Car Payment?

Your estimated vehicle payment can depend on factors such as the vehicle price, down payment, trade-in value, loan term, interest rate, and applicable financing programs. Sharp Chevrolet's finance team can help you understand how these factors may affect your potential payment and financing options.

Frequently Asked Questions

What is auto loan pre-qualification?
Pre-qualifying for an auto loan is a preliminary step that allows you to get an idea of the possible options available to you before completing the car purchase process. It might give you an approximate estimate of how much money you may be able to borrow, along with the possible rate and payments, depending on the lender.

Can I get pre-qualified for auto financing online?
Yes. Sharp Chevrolet gives customers an opportunity to initiate their finance applications online through a secure finance application form. This can help you get started and look at the options available to you before going to the dealership. After submitting your application, the finance team can help guide you through the next steps.

Is pre-qualification the same as final auto loan approval?
No. Pre-qualification does not mean that your auto loan application has been finally approved. Pre-qualification only gives you an idea of the financing options you may qualify for. Final approval involves reviewing additional details, and the final rate, loan amount, and other terms may vary from the initial estimate.

Is it better to get pre-qualified before going to a dealership?
Getting pre-qualified can help you determine a realistic budget and give you insight into the costs involved in financing a vehicle. It can also make it easier to compare vehicles based on the estimated monthly payment. However, there can be benefits to dealer financing as well, since the finance department at the dealership works with various lenders.

What factors can affect my auto financing rate?
Various factors can determine the interest rate and terms you receive, including credit history, income, loan amount, vehicle type, loan duration, down payment, and lender requirements. Manufacturer or lender rebates may also affect financing costs. The finance department at Sharp Chevrolet can assist you in understanding the financing options available to you.