Welcome to our Lewis Motors Finance Department, your auto loan and car lease resource. We're eager to provide financing for your new car, or we can assist in used car financing. Check out our online car loan calculator for an instant car loan rate. Then, proceed to our online car finance application to undergo the whole process from the comfort of your own home. Don't worry, all of your personal data is encrypted before transmission and is never sent as clear-text.(Please note that the loan calculators on our web site do NOT include taxes and fees).
You don't have to have perfect credit to get a car loan, but the better your credit score the lower your interest rate is likely to be. Lewis Motors has strong relationships with many lending institutions and is committed to finding you the perfect car loan in Vermont to suite your car finance needs.
Low interest car loans are available for customers with existing loans. We can help you refinance your car loan or adjust the term of the contract. You're just a step away from approved car financing!
1325 Shelburne Road
South Burlington, VT 05403pause
Loan payments contribute to the eventual ownership of a vehicle, while lease payments apply only to the short-term use of a car.
Owning a lease vehicle is possible if purchased outright after the lease period ends.
A typical lease period runs between 24 and 48 months.
Three important factors - adjusted capitalized cost, residual value and the money factor - determine the monthly rate of a lease.
Closed-end leases set a fixed residual buy price at the beginning of the term, while open-end deals base the final buy price on a vehicle's actual market value at the end of a lease.
Pay more money down initially to reduce monthly loan payments. Otherwise, a typical down payment ranges between 10 to 20 percent of the total cost.
Many used vehicles require down payments of at least 20 percent and include interest rates between 9 to 10 percent.
Lease agreements usually limit mileage from 12,000 to 15,000 miles annually. Beyond these figures, fees in the range of $0.10 to $0.25 per mile begin to accumulate.
If you plan on customizing your vehicle, you need to finance with a loan. Leased vehicles must be returned under factory specification.