Only a few days left ’til the end-of-the-month and we’re pulling out all the stops to put you behind the wheel of your dream Chevrolet.
Call our Customer Care Team now at 630-898-9630 for your VIP appointment.
What is the average new car payment today?
Well, according to Experian the average car loan has a payment of $495 per month. That’s $13 more than last year. CNBC puts the average new car payment at $503. And, that’s the first time the an average auto payment is over $500. No matter how you slice it, the payment is around the $500 mark. 2016’s used car payments average about $362.
Do you need to pay $500 to get a great car?
The simple answer is “No.” Ron Westphal Chevrolet offers a complete line-up of vehicles that offer payments well below the $500 average. Even if you have no money down!* And, don’t worry. You don’t have to drive a tin can anymore. Nearly all our new models offer ice-cold air conditioning, power windows, locks and mirrors, tilt and telescoping steering wheel, MyLink Color touch screens with bluetooth and 4G LTE WIFI and many more standard features..
Would you like to lower your current auto payment? Call our Customer Care Team at 630-898-9630 or visit us online.
The average price for a vehicle loan continued to rise, with the typical amount for a used vehicle loan increasing from $18,866 in the third quarter of 2015 to a record high of $19,227. The average new vehicle loan for the quarter was $30,022, up $1,086 from the previous year.
The typical loan for a new vehicle was 68 months while a used vehicle loan had an average repayment period of 66 months; both were one month longer than the previous year. The average term of a new lease was 36 months, also one month longer than the third quarter of 2015.
*Car payments vary and depend on many factors such as model selected, credit history, term, downpayment and more. Call our Customer Care Team at 630-898-9630 for details.
Is a GM Lease for you?
Did you know that nearly 30% of all vehicle sales are leases?
More people in the market for a new vehicle continued to gravitate toward a lease rather than a purchase, according to the credit bureau Experian’s auto financing report for the third quarter of 2016.
The report found that 29.49 percent of all new vehicles sold to drivers in the United States between July and September were leased. This share was up from 26.93 percent in the third quarter of 2015.
1: It’s Easy-Breezy.
In and out of our dealership in about 1 hour every 24 to 39 months. Just turn in your current lease and select your next Chevrolet car, truck, van or suv. Lease payments can often stay exactly the same as your current payment or in many cases…even decrease.
2: Reap the Rewards.
GM consistently offers special Lease reductions for current lessees. And, in most cases you can end your lease early with no penalty.*
3: Always Drive a New Car.
Why not? Enjoy lower maintenance costs and the dependability a newer vehicle offers.
4: Equity Protection
What is Equity Protection you ask? Well, it’s a known fact that you will never have negative equity, or be ‘upside-down’ at the end of your 24 -39 month lease. This type of promise cannot be made with a traditional auto finance loan. Many people are disappointed to find out their vehicle’s value at the end of 3 years is lower than their 60 month loan balance. With a GM lease your obligation is over within 39 months or less and you are free to choose your next vehicle without having to roll-over any negative equity.**
*Typically, GM Lease Pull-Ahead is offered to all Chevy Lessees toward the end of their lease. If you qualify for Lease Pull Ahead, GM will waive your last 3 to 4 payments. You may also receive additional incentives to re-lease or purchase another GM vehicle. Although Lease Pull-Ahead not guaranteed, it has been a consistent GM Lease Incentive program for many years. Call our Customer Care Team at 630-898-9630 to find out more about GM’s Lease Pull Ahead.
**Providing you are within lease mileage limits and are turning in an un-damaged vehicle.
$34,077 dollars. Yikes. That’s about twice what my folks paid for their first house. Yessiree, the average new car price for 2016 now over $34,000. And, Edmunds expects that to rise to over $35,00o for this year.
But, the average car loan amount finances was only $30,022 (according to Experian), which means most folks have some cash or trade-in equity to use as down payment.
What if you can’t afford $34,077?
No problem. At Ron Westphal Chevrolet we’re proud to be below average! We offer many, many cars, trucks and SUV’s priced well below the 2016 average. Some new 2017 models are selling for only $12,558* and come with full factory warranty. Call our Customer Care Team now at 630-898-9630 to go over all your options. Or, find your new vehicle on our website at www.WestphalChevy.com.
The average new car prices are up over 12% in only 5 years.
So what’s causing this? Edmunds believes the primary factor is growth in the light-duty truck market. It currently engulfs about 62 percent of the new-car market, and if you’ve ever been to a truck manufacturer’s site to play around with Build and Price tools, you’d know pickup trucks or an SUV can get expensive. A new 2017 loaded Silverado Crew Cab LT 4×4 has a MSRP around $45,000+ but lease deals can put these trucks in the hands of those who may not be able to afford traditional financing.
Leasing gains in popularity
Almost 1/3 of new vehicle sales are leases. If you think a brand new car, truck, van or suv is out of your budget-think again. We may be able to get you behind the wheel of your ideal Chevrolet with no money out of your pocket and with a low monthly payment. Call our Customer Care Team at 630-898-9630 for more information or drop by our showroom.
*Plus tax, license and fees. Includes all incentives.
30 Day Tire Price Guarantee at Ron Westphal Chevrolet. Visit us today or schedule your appointment at 630-898-9630.
30 day tire price guarantee
With our 30 day tire price guarantee you have the peace of mind that you’ve received the best possible value. Provide us with a better price at time of purchase and we’ll match it. Find a better price within 30 days of purchase and we’ll refund the difference. Ad, written estimate or internet quote for identical tires from a competing tire retailer located within 100 miles of Ron Westphal Chevy required during period of price match.
Quality Tires at a Great Value
Whether you’re in the market for repair or replacement, our Certified Service technicians can handle all of your tire needs. Use our Tire Finder Tool to start shopping for tires – simply enter your vehicle’s year, make, model, and tire size. Not sure about your tire size? It’s the combination of letters and numbers located on the side of your tire. Once you’ve selected the right set, schedule an appointment that’s convenient for you.
Your tires are the first and only contact with the road, so it’s important to choose the right set. Our Tire Finder tool makes it quick and easy to find tires for any vehicle. Use the drop-down menus to select your vehicle information and navigate your search. Once you’ve selected your new tires, the Certified Service expert technicians can handle all of your tire needs at your scheduled appointment—it’s that simple.
You are encouraged to routinely inspect your vehicle’s tire pressure because all tires will lose pressure progressively, during both warm and cold temperature months. The weather is not the only element that results in a decrease in pressure either. Altitude variations, flexing, and tire wall impacts will slowly decrease air pressure. The proper process for optimal tire care is to always inspect tire pressure each alternate visit to the gas station. With respect to tread depth, it’s recommended that you rotate your tires every alternate oil change to extend the life of your tires. Rotating your tires every 6 to 8 thousand miles will help maintain a level tread wear throughout the life span of the tire.
Feel free to visit our service department for a free tire pressure check or if you have any questions. Thanks!
Learn how Auto Loan Credit Inquiries impact your credit report.
Did you know…FICO score considers all inquiries within a 45 day period for an auto loan as a single inquiry.
Ever wondered…Hey, what’s the difference between a hard inquiry and a soft inquiry on my credit report?
Well, here are some answers.
When someone checks your credit report, it’s called an inquiry. Some inquires do not affect your credit, while others might.
Lenders do not see soft inquiries when they order your credit report. Soft inquiries include:
- Pre-screened offers for credit (example: free credit card offers)
- Account reviews by your existing lenders
- Requests related to employment
- Requests for insurance purposes
- When you request your own credit report
Hard inquiries typically come from a lender or other creditor who wants to check your credit report as a result of your loan application or request for credit, goods or services. These inquiries are shared with other lenders viewing the report and can have an impact on credit scores and lending decisions.
One exception occurs when you are “shopping”. FICO score considers all inquiries within a 45 day period for an auto loan as a single inquiry. You can avoid lowering your FICO Score by doing your all your serious auto hunting within a short period of time.
Looking for an Auto Loan?
We can help!
It’s common for Ron Westphal Chevrolet to submit your information to multiple lenders in an effort to find the lowest interest rate and most favorable loan terms. This practice allows you to benefit from lenders competing for your business.
Lenders recognize that shopping for only one car and does not mean you are trying to open multiple new accounts. Credit scoring systems have been designed to account for that practice and include rules such as counting the same type of inquiry as only one inquiry as long as they are made within a short period of time.
Call our Finance Department at 630-898-9630. We will be happy to provide you with additional information in English or Spanish. Or, visit our website.
What is the ‘FICO Score’
A FICO score is a type of credit score created by the Fair Isaac Corporation. Lenders use borrowers’ FICO scores along with other details on borrowers’ credit reports to assess credit risk and determine whether to extend credit. FICO scores take into account various factors in five areas to determine credit worthiness: payment history, current level of indebtedness, types of credit used, length of credit history and new credit accounts.
Source: Experian.com and Fico.com
GM Recalls. Not sure if your vehicle needs a recall? No problem. Just give our service department a call at 630-898-9630 and provide us with your VIN number. Or, if you have visited our service department in the past or purchased a vehicle from us, we will have your VIN number on file. We’ll be happy to investigate your vehicle to make sure it is up to date.
Online GM Recalls
You can also check for GM recalls online at https://my.chevrolet.com/recalls. GM provides information on this website for recalls announced on or after August 20, 1999. This information is available for vehicles in which repairs have not been completed.
Many recalls can be completed while you wait, but if you need to get back on the road immediately let us know. We offer free current model year loaner vehicles to insured motorists 25 years or older.*
Would you like to upgrade your ride? Visit our website or call our Customer Care Team at 630-898-9630 to schedule a no-obligation demonstration drive.
*(Must have valid insurance and license along with major credit card)
In a bit of Sunday surprise, the busiest day of the year for U.S. shoppers on auto dealership websites was Sunday, July 24. The slowest day was Sunday, May 8, or Mother’s Day, Dealer.com reported.
Dealer.com, a Cox Automotive website manager for dealerships, said in its report that the July 24 date was an “anomaly” because nine out of the 10 slowest days of online traffic in 2016 were Sundays. But the date is likely representative of a healthy summer shopping season, said James Grace, senior director of analytics products at Cox Automotive Media Solutions.
The runner-up dates for the busiest shopping days of 2016 were, in order, Aug. 26, 29 and 25, which better align with the beginning of the “sell-down season” for the latest model-year vehicles, Dealer.com said.
While Fridays were generally the busiest shopping days, Grace said Fridays also had one of the smallest forms-to-visits ratios, or the amount of visitors to dealership sites who filled out forms. Grace said the forms-to-visits ratio is low on Fridays because customers may only be viewing vehicle pages to develop “game plans” before in-store weekend shopping. Though he says it’s still a point dealerships can improve on.
“The analytics themselves show that high traffic quantity doesn’t always correlate to high quality and there is significant room for improvement in terms of giving consumers more online deal-making tools that can close the gaps in engagement and conversion to sales,” Grace said in an emailed statement.
There was also a jump in online traffic on Nov. 22 and 23, the two days before Thanksgiving, likely due to Black Friday sales.
The busiest hours for online traffic in certain time zones were 7 p.m. Greenwich Mean Time, 2 p.m. EST and 11 a.m. PST.
As for the slowest days: Sundays. Out of the 10 slowest days of the year, the only non-Sunday was Friday, Jan. 1. Dealer.com said that date can be attributed to consumers who needed to “recuperate physically and financially from the holidays.”
Sunday’s relatively slow stream of online traffic had a high percentage of visitors to vehicle pages. Grace says this makes sense on a day when many dealerships are closed.
An extra nugget of information, which Grace says may be based loosely on population, is the top five states by aggregate online traffic:
4. New York
Thank to Veterans. “Thanks to all who put—and have put—on the uniform looking for nothing in return. The selfless act of serving our country deserves the highest level of respect and gratitude we have to offer. When I see a veteran in public, my frown or bad mood turns into a grin and happiness knowing that our country is safe because of these men and women. May peace always be with you.” –Giovanni Moujaes
The entire staff at Ron Westphal Chevrolet salutes all our Veterans and their familes–past, present and future.
0% apr for up to 72 months is available on select remaining new 2016 Chevrolet models. But hurry…last day for 0% x 72 is scheduled to be 11.11.16.
Veterans Day Cash Back Bonus Tags are here and they’re bigger than ever. And, we’ve got’em on all the most popular models.
Visit www.WestphalChevy.com to browse our inventory. Or, call our customer care team at 630-898-9630 to schedule a no-obligation test drive.