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Select items only. Limited to stock on hand. No special orders at this price. No rain checks. Coupon not valid with any other offer. Must present coupon at time of purchase. Limit one coupon per person. Coupon does not apply to prior purchases.
Chevrolet recently announced the expansion of the two-year scheduled maintenance program to include all 2014 Chevrolet cars and trucks.
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for all the great Chevrolet products, service and now, an added measure of peace of mind. Combine the maintenance program with our great warranties, standard OnStar and other benefits such as Roadside Assistance, Courtesy Transportation and available OnStar Remote Link, and you'll see that owners of 2014 Chevrolet vehicles will be taken care of before, during and after the sale like never before. Customers who have already purchased of leased a 2014 model year vehicle will receive the scheduled maintenance program.
Earlier this month, enrollment in the 2 Year Scheduled Maintenance Program for the 2014 Silverado and Cruze Diesel concluded. If you enrolled, no further action on your part is necessary. If you need more information about how to enroll or opt out, go to www.gmprograminfo.com for details.Download the pdf for more information about the program here.
Buy select tires and if you find a better price within 30 days of the purchase, we'll refund the difference.
Local competitor's ad/written estimate or Internet quote including freight charges for identical tire(s) required during guarantee period for price match.
Offer expires: 07/31/2013
Are monthly payments necessary?
Unless you're in the position to pay cash for a new or pre-owned vehicle, you'll need to establish a payment plan to obtain that vehicle. Two options exist - taking out a loan or leasing.
How do loans and leases differ?
When you take out a loan, all of the money used to pay it off applies to your eventual ownership of the vehicle. The initial down payment and principal on the loan cover the total cost of the purchase. Lease payments, however, apply only to the use of the vehicle. The total sum of payments covers the vehicle's depreciation over the time you drive it and is usually less than the outright price of the vehicle.
When is ownership transferred?
When paid in full, a loan terminates and you assume ownership. Your bank sends you the title that had been held while the loan maintained an outstanding balance. When a lease period ends you forfeit the vehicle to the lessor, unless the lessor offers to sell the vehicle afterwards. During the entire lease period the lessor maintains ownership and simply allows you to use the car. Ownership is only transferred if you chose to buy the vehicle after the lease terminates.
How are monthly lease rates determined?
In formulating a monthly payment structure, a lessor is primarily concerned with the extent to which the vehicle will depreciate throughout the lease and the cost of borrowing money to finance the car during that period.
Three key elements:
First, the adjusted capitalized cost is determined. This figure represents the real purchase price after elements such as the down payment, incentive discount and trade-in credit are deducted from the capitalized (actual) cost, while any fees or charges (e.g. destination) are added.
Second, the residual value, or estimated value of the vehicle at the end of the lease, is determined and then subtracted from the adjusted capitalized cost to yield a depreciation figure. The residual value depends on the length of the agreement, expected mileage and make/model of the vehicle.
Finally, a lessor assesses the money factor, a number that correlates with the cost of borrowing money during the lease period.
While these terms may seem unfamiliar, the Federal Reserve Board now requires dealers to publicize all leases' down payment amounts, lengths, residual values and interest rates.
What factors determine the purchase price at the end of a lease?
Most leases rely exclusively on the residual value in determining the end of term purchase price. These closed-end deals require you to pay the fixed residual amount regardless of the actual market price. Open-end leases work differently in that the actual market value helps determine the purchase price. As a customer you are responsible for any difference between the residual and actual value when buying outright.
How are loan rates determined?
The size of monthly loan payments depends on the amount borrowed, the length of the loan, the interest rate and other factors such as your credit history. Paying more money initially lowers the principal of the loan, thus reducing individual payments. At any period during the loan you may opt to pay off the principal in its entirety, at which point the title of the vehicle is transferred to you.
General loan specifications:
Down payment amounts may range between 10 to 20 percent of the vehicle's total cost, although some purchases require no down payment. A typical loan period is five years with an annual percentage rate around 8 percent. Some manufacturers offer lower rates, but be sure to investigate any associated conditions or clauses.
Are loans available for used vehicles?
Yes, although they function somewhat differently from new car loans. A down payment of 20 percent or more is often required and the interest rate can be a point or two higher. Understandably, banks are more hesitant to loan money for used car purchases, as they would rather own a newer car if the borrower defaults. However, the market is full of good used vehicles, many of which are created by short term leasing.
Can extra fees and charges be financed?
Yes, registration, taxes, extended service plans and other supplemental charges may be included in the financing plan.
Which option makes the most sense?
The answer to this question depends on how you plan to use the vehicle. If you like the idea of driving a more expensive vehicle for a smaller monthly payment, leasing is a great option. However, if eventually owning the car is important, financing with a loan is the way to go.
What are the restrictions of driving a "borrowed" vehicle?
Annual mileage restrictions are a major limitation for customers who choose to lease. Lessors want their vehicles returned in saleable low-mileage conditions, so they place mileage caps on them. A typical yearly figure is between 12,000 and 15,000 miles. Beyond the established limit, fees accrue on a per-mileage basis, usually in the range of $0.10 to $0.25 per mile. So if most of your driving is local, leasing makes sense. However, if you consistently tack on 500 or more miles a week, definitely look into a loan.
What are the other virtues of a loan?
Loans are also sensible for those who want to customize their vehicles, plan on keeping their cars for long periods of time and plan to re-sell their vehicles to help recoup the costs of ownership or expenses of additional cars. For those who quickly wear vehicles out, loans may be safer bets as lessors often add "excessive wear" charges if the car is returned with wear over the limits established by the contract.
Leasing ensures that you'll always drive a late-model vehicle, won't have to pay for warranty-covered repairs and won't have to bother with re-selling at the end.
The myChevrolet app has a Parking Reminder Feature, so you'll be able find your way back to your parking spot. It's available on every Chevrolet, including the Malibu, so the phone that connects us to our lives now connects us to our cars.
Memorial Day Sale Get up to $750 Memorial Day Cash at Felix Chevrolet!
$750 Memorial Day Cash
Lease the 2013 Cruze for $149 a month for 36 months.Click here to view our inventory.
2013 CHEVROLET Cruze LS w/Automatic Transmission
Low-Mileage Lease for Qualified Lessees
$149/month 36 month lease.
$2,469 due at signing (after all offers). Includes security deposit.
Tax, title, license, dealer fees and optional equipment extra.
Mileage charge of $0.25 /mile over 36,000 miles.
Payments are for a 2013 CHEVROLET Cruze LS w/Automatic Transmission with an MSRP of $19,035. 36 monthly payments total $5,215. Option to purchase at lease end for an amount to be determined at lease signing. Lessor must approve lease. Take delivery by 07-01-2013. Mileage charge of $0.25/mile over 36,000 miles. Lessee pays for maintenance, repair and excess wear. Not available with other offers.