GM Auto Financing and Leasing in Grand Forks, ND

Auto Financing at Our Chevy Dealer Serving Grand Forks

Our main focus at Rydell is getting you in the car that best suits your wants and needs at the best possible price, and we’ve been doing that for decades. Whether you are right down the road or tired of visiting other Chevy dealers across North Dakota, you can save valuable time by using our simple online pre-approval form to find the finance program that is best suited to you! 

Before you stop in to our Grand Forks Chevrolet dealerships, take advantage of our payment calculator to help you get an idea of your buying power and the monthly payments you can handle to avoid undue stress down the road. The finance experts at Rydell Chevrolet Buick GMC are ready to make your car ownership dreams a reality. Contact our finance team today to learn more at 701-620-2024.

We are specialists at arranging financing programs that ensure customer satisfaction and we have been doing that for decades. Whether you are right down the street or hours away from Grand Forks ND you can save your valuable time by using our quick, easy pre-approval form to find the finance program that is best suited to you!

Need Bad or Low Credit Financing? We Can Help!

Due to our special arrangements with local and national lenders, we can help you get the new or used vehicle you deserve. Whether your past credit is near perfect or not so perfect, we can help!

Our Financial Services Include:

• Competitive rates direct from the manufacturer and local North Dakota banks
• Quick approvals
• Value-added services to protect your vehicle investment
• Extended warranty programs
• And many more money-saving programs to meet your needs

Auto Financing and Leasing FAQs

Should I Lease a Car or Get a Loan?

If you decide to buy a car and you want the car dealership to finance it, you'll need to fill out a credit application. Based on your credit score, a car loan will be arranged through the dealership's bank or lending institution based on the 'negotiated' price of the vehicle and related expenses, such as licensing fees, title, and sales tax. Lending money is big business, and most car manufacturers have their own companies to arrange auto loans. For example, General Motors (GM) vehicles are often financed through General Motors Financial Company, Inc.

Most dealerships ask how quickly you want to pay off your new car. Car loans vary in length depending on your needs, but the most common loan terms are three to five years (36 to 60 monthly payments). The longer the loan term you choose, the smaller your monthly payments will be.  

In addition, the amount of your monthly payment will depend on the amount of your down payment, the term of the loan, and the interest rate. Keep in mind that most car dealerships will encourage you to make a large down payment. 

If you decide to lease the car, you'll also be required to submit a credit application. Based on the length of the car lease you want, and your credit score, the dealership will look for a lease for you. They will contact several banks or lending institutions using a sophisticated computer system. Each lending institution will have different conditions and terms. You'll need to decide how long you want to lease for and how much you want to pay upfront. 

Most car leases come with annual mileage limits (around 12,000 miles per year). If you go over the mileage limit, you'll be charged an additional fee per mile. If you often drive more than the mileage limit, ask that the car lease be written for 18,500 miles. This will increase your monthly payments but save you money in the long run.

Your lease contract usually contains a residual price for the vehicle you're leasing. When you've made all the lease payments, you can then purchase the leased vehicle for this residual price. If you want to return the vehicle to the lessor, you may be required to pay an excessive wear-and-tear fee. If the vehicle is in great condition, you can lease another new vehicle or get your security deposit back.

How Do I Get Approved For an Auto Loan or Lease?

To get approved for a car lease or loan, there are a few different factors that you need to consider. While having good credit can help a lot, there are other criteria that banks or dealerships examine when determining whether to approve your car lease or auto loan application. These usually include the following:

• Your proof of income.
• Your credit score.
• Your down payment or trade-in.
• Proof of residence. 

Can I Get a Car Loan or Lease After Filing Bankruptcy?

Getting approved for a car loan or lease after bankruptcy is difficult, but it's possible, depending on a few factors:

• Was the bankruptcy a Chapter 13 or Chapter 7 filing?
• How was your credit history prior to filing for bankruptcy?
• Are you still in bankruptcy or has the bankruptcy been discharged?
• If you don't have a letter from your trustee, you should get one. 

To increase your chances of getting approved for a car lease or loan after a bankruptcy, consider the following steps:

• Check your credit: The lender or dealership is going to review your credit history and score, so you might as well know what they're going to see. Besides, it's always a good idea to check your credit after bankruptcy to see if there are inaccuracies. 
• Rebuild your credit: Once you have reviewed your credit history and scores, consider taking time to rebuild your credit. This could help you get a car lease or loan at a lower interest rate. Some of the best ways to rebuild your credit include getting a credit builder loan, applying for a secured credit card, and becoming an authorized user on a family member or friend's credit card. 
• Save for a down payment: A down payment can increase your chances of getting approved for a car loan or lease and could decrease your interest rate. While there's typically no required amount to put down for a new vehicle, the general rule of thumb is that you should put about 20 percent down on a new car.
• Find a cosigner: Getting a cosigner with excellent credit can reduce a lender's risk and improve your chances of approval. If you fail to make your payments, the lender or dealership can collect payment from your cosigner.

Contact Rydell Chevrolet for Auto Financing or Leasing in Grand Forks

If you are looking for a dealer in Grand Forks, North Dakota, that offers Chevy, Buick, GMC, and Cadillac auto loans and leases, look no further than Rydell Chevrolet. Our dealership is dedicated to helping you navigate the auto loan or lease approval process. Our team of financing specialists works with several financial institutions in Grand Forks to find the finance program that best suits your needs. To learn more, apply online, visit, or contact us today.