What is the annual percentage rate on my Chevrolet lease?
APR (annual percentage rate) explained
What is the annual percentage rate on your Chevrolet lease? The annual percentage rate usually referred to as APR, is the total cost of credit expressed as a yearly rate. APR can vary quite a bit, so it is important that you fully understand what you are choosing. Keep reading below and check out the video to learn more. Visit Carl Black Nashville to talk with our financial team here in Nashville, TN.
How can some lease deals offer 0% APR?
Zero percent APR means that you are getting charged nothing for the credit that you borrow. So, if you are financing your vehicle with 0% APR for 72 months, that means that you won’t accrue any interest or other fees on top of your loan payments for 72 months. This is one of our most popular deals with buyers and for good reason.
How do I know what APR I qualify for?
We don’t have a magic formula. Unless we know your credit score and a few other factors about your purchase, we can’t tell you what APR you qualify for. That’s why the best way to find your answer is to consult with a member of our team or to contact GM Financial Services directly for a consultation. GM Financial Services is the company that provides financing options for buyers who purchase a vehicle from one of the GM brands, which includes Chevrolet. They also provided us with that video guide above, which tells you where to find the APR rate of your current vehicle.