Buick Financing FAQs

Taking out a loan for a new car can seem intimidating, but with Buick financing here at Serra Buick GMC Champaign, it’s never been simpler or easier. Below, we answer a couple of commonly asked questions about financing and unpack the terminology so you can set up your plan with confidence.

What’s the Difference Between Leasing and Financing a Car?

Under a lease, you do not own your vehicle, and you’re making no progress towards purchasing it. If you finance your new car with a loan, on the other hand, with each payment you are making progress towards owning your new car outright. If you don’t drive much and prefer to drive the newest, hottest car available, a lease may be a better option.

However, if you intend to keep driving your vehicle for a while, a financing with an auto loan may be the better option. With a loan, you are always making progress towards the car being yours, making it the better long-term investment.

In addition, leases can include limits on how far or how much you drive your car, so for distance drivers, a loan is preferable. Loans are usually more expensive than leases for the same vehicle, however, so keep that in mind.

What Do I Need to Apply for Financing?

Make sure to bring full contact information for any applicants or co-applicants for the loan, as well as up-to-date housing, employment, and income information. If you have it, bring the vehicle identification number and the mileage reading, plus the state you intend to register it in. Finally, make sure you’ve decided what term you want the loan to cover.

Whether you want to apply for an auto loan or are interested in one of our Buick lease deals, come down to Serra Buick GMC Champaign today. Talk to our finance staff about any questions—we’re happy to help!