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Leasing vs Financing at Flag Chevrolet


Not sure whether to lease or finance your next Chevy? The finance experts at Flag Chevrolet are here to help! We’ll guide you through all the pros and cons each has to offer, helping you make a confident decision based on your lifestyle and budget. We’ll help unpack all your questions, from which has the least upfront cost and best long-term investment to leasing restrictions and warranty benefits. Once you’ve made a decision, be sure to browse all our new Chevy Specials for all the latest financing and leasing deals on new Chevy models.

Chevrolet Leasing


If you’re interested in getting the latest technology, designs, and the flexibility of choosing a different model every few years, leasing may be right for you. Leasing at Flag Chevrolet is simple and cost-effective. Some benefits of leasing include a lower initial down payment and lower monthly payments.

When you choose to lease a Chevy, you can get additional lease cover through their Chevrolet Advanced Lease Protection. This unique offering lets you can get the coverage that provides additional services and protection during the manufacturer’s warranty, plus coverage after the manufacturer’s warranty expires. Key benefits of the Chevrolet Advanced Lease Protection include:

  • Available for new, leased vehicles at lease inception
  • Can be transferred or canceled at any time
  • No deductible required
  • Offered in terms ranging from 24, 27, 36, 39, 42, and 48 months

Pros of Leasing

  • Lease payment covers only the vehicle depreciated value
  • Lease payments cost less than financing
  • Down payments are less than financing
  • Covered under the general warranty
  • Don’t have to worry about selling after the lease term
  • Get new technology and features
  • Multiple end of lease options

Cons of Leasing

  • Mileage limits
  • Possible excess wear charges
  • Limited credit building
  • No customize or alteration allowed

Chevrolet Lease-End Options

Lease a New Chevy

If you’re ready to enjoy the latest technology, looks, and features Chevrolet has to offer, you can trade-in your leased vehicle for a new one.

Buy Your Leased Chevy

If you’d like to keep your lease for good, you can purchase your leased Chevy at any point during your lease term.

Return Your Chevy

Not looking to buy or lease a new Chevy? You can return your Chevy at the end of your lease term hassle-free.

Before Returning Your Chevy

You’ll need to bring your Chevy in for a pre-return inspection before your lease is up. Chevy lease return policy requires a pre-return inspection within 120 days of lease-end. This inspection will determine if there’s any unusual wear or use to your vehicle and identify what repairs you should make to avoid potential fees.


Chevy Financing

Flag Chevrolet is home to your new and used automotive financing experts in the Grayslake area. We’ll help find the best auto loan for your individual situation and walk you through all the pros and cons financing has to offer. From down payments and APRs to owning an asset and depreciation, our team is here to help you understand all the financial freedom financing has to offer. Visit our Flag Chevrolet’s finance team today or when you’re ready to start the financing process, you can fill out our secure finance application online.

Pros of Financing

  • Ownership and ability to sell
  • No mileage restrictions
  • Ability to personalize and customize
  • No car payments once paid off
  • Multiple lender options

Cons of Financing

  • Higher monthly payments
  • Higher down payment
  • Higher repair costs
  • Vehicle depreciation

Leasing vs Financing FAQ

Depending on your budget, lifestyle, and needs. Financing allows you to buy and own whereas leasing is like renting it.

  • Warranty coverage
  • Latest technology and stylings
  • Available incentives
  • Mileage limitations
  • No customizations
  • Excessive wear cost
  • Not an asset
  1. Lease a new Chevy
  2. Buy a new Chevy
  3. Buy your currently leased Chevy
  4. Walk away
  1. Scheduling your inspection
  2. Review and make possible repairs
  3. Make an appointment at a dealer
  4. Complete a federal odometer/lease termination statement
  5. Pay any lease liability fees/charges
  6. Pay any additional charges
  • Ownership and ability to sell
  • No mileage restrictions
  • Ability to personalize and customize
  • No car payments once paid off
  • Multiple lender options
  1. Higher monthly payments
  2. Higher down payment
  3. Higher repair costs
  4. Vehicle depreciation

You can return your Chevy to Flag Chevrolet or if you’ve moved, you can return your car at any certified Chevrolet dealership.

After arranging a return date, clean and retrieve personal items from the storage compartments. You should also clear the navigation system of all saved addresses, erase programmable garage door codes, and delete all saved phone numbers. Then make sure the following equipment is present in the vehicle:

  • All keys and key fobs
  • Owner’s manual
  • Entertainment system headphones
  • Other accessories included in the lease package
  • Original manufacturer wheels at the time of the lease
  • Power charging cables for electric vehicles

Learn More about Leasing and Financing at Flag Chevrolet

Have any additional leasing or financing questions? Feel free to contact us, our finance experts are here to guide you through the financing process and help you get into your new vehicle. Contact Flag Chevrolet’s finance team today or if you’re ready to start the financing process, you can fill out our secure finance application online. Make sure to check out all our latest Chevy Specials online before stopping by our Grayslake, IL dealership for a test drive!

Flag Chevrolet is located at: 1000 E Belvidere Rd • Grayslake, IL 60030
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