Free Yourself of Negative Equity
What Glenview, IL, Drivers Need to Know

Being stuck in negative equity—owing more on your car than it's worth—can be frustrating and financially challenging. However, leasing a Chevrolet EV could be a smart way to regain financial stability. If you're wondering whether leasing with negative equity is right for you, let's break it down.

Understanding Negative Equity

Negative equity occurs when your car's worth is less than what's left on your auto loan. This situation often arises due to:

• Rapid Depreciation: Vehicles lose value quickly, especially within the first few years.
• Long-Term Financing: Extended loan terms slow down equity buildup.
• High-Interest Rates: Higher rates mean a significant portion of your payment covers interest rather than reducing the loan principal.

Being upside down on your loan (having negative equity) can make it harder to sell or trade-in your vehicle without taking a financial hit.

How Leasing a Chevrolet EV Can Help

Leasing a Chevy EV offers a practical approach to managing and overcoming negative equity. Here's how:

1. Rolling Over Negative Equity
   With GM Financial, Chevy gives you the option to roll part of what you still owe on your current car into a new lease—up to 110% of the vehicle's value. That means you can upgrade to a new ride without having to pay off your existing loan fully first.


2. Lower Monthly Payments
   Leasing often means lower monthly payments than a traditional car loan (and a more fiscally responsible way of having a car), which can take some pressure off your budget. Plus, lease agreements often come with lower interest rates, making them a more budget-friendly choice.


3. Shorter Commitment
   Leases usually last 2 to 3 years, meaning you don't have to be locked into a long-term financial commitment, giving you the flexibility to review your financial landscape sooner.


4. End-of-Lease Flexibility
   When your lease is up, you can turn in the vehicle without worrying about negative equity and then choose to lease a new model or explore other financing options.

Take Control of Your Finances Today

Transitioning to a Chevrolet EV lease not only provides a way out of negative equity but also allows you to enjoy the latest automotive technology while improving your financial well-being.

Visit Jennings Chevrolet in Glenview, IL, to explore your EV leasing options and take the first step toward financial freedom. Contact our team today for more details on current offers and to schedule a test drive!