Your Guide to Buying Your First Car at Chevrolet of Homewood

Buying your first car is a major life milestone, but navigating auto loans, interest rates, and credit checks can feel overwhelming. If you have a limited credit history, you might assume that buying a brand-new vehicle is out of reach.

At Chevrolet of Homewood, we believe your first car-buying experience should be exciting and transparent. General Motors offers several excellent programs designed specifically to help new buyers establish credit while getting behind the wheel of a safe, reliable vehicle. Here is a breakdown of your best financing options.

The Chevrolet First-Time Buyer Program

Building credit from scratch is difficult, especially when you need a car to get to work. The Chevrolet First-Time Buyer Program is designed specifically for buyers who have little to no credit history, provided they do not have an adverse credit record.

• Finance Up to 105% of MSRP: One of the biggest hurdles for first-time buyers is the down payment and covering taxes and fees. This program allows eligible buyers to finance up to 105% of the vehicle's Manufacturer's Suggested Retail Price (MSRP). This helps absorb those extra upfront costs so you can keep more money in your savings account.
• 90-Day Payment Deferral: To give you time to adjust your budget, well-qualified buyers financing through GM Financial can take advantage of a 90-day deferred payment option. This means you drive off the lot today but do not have to make your first payment for three months.

The Chevrolet College Appreciation Offer

If you are currently enrolled in college or have graduated within the past two years, you have an additional avenue for savings. The Chevrolet College Appreciation Offer rewards your hard work with a $500 cash allowance toward the purchase or lease of an eligible new vehicle.

This program also includes a 90-day first payment deferral option when you finance your loan through GM Financial.

Leasing vs. Financing: What is the Difference?

When you sit down with our finance team, you will choose between two primary paths: leasing or financing (buying). Here is a quick look at how they compare for a first-time buyer:

Expert Tip: Financing is often the stronger long-term choice for first-time buyers because it helps you build equity in a vehicle you own. If keeping monthly payments lower is your top priority and you like driving a newer car with warranty coverage every few years, leasing can also be a smart option.

The Perfect First Car: The 2026 Chevy Trax

You do not have to settle for a bare-bones vehicle just because it is your first purchase. The 2026 Chevrolet Trax is arguably the best entry-level SUV on the market. It features a bold design, standard wireless Apple CarPlay® and Android Auto™, and standard Chevy Safety Assist. Best of all, the 2026 Trax lineup starts under $26,000, making it incredibly accessible for first-time buyers on a budget.

Start with Confidence at Chevrolet of Homewood

When you buy your first car at Chevrolet of Homewood (18033 S Halsted St, Homewood, IL), you also get the ultimate peace of mind: our exclusive Smart Shopper Advantage. We protect your investment long after the sale with:

• Lifetime Engine Guarantee: Your engine is covered for as long as you own the vehicle.
• Lifetime Car Washes: Keep your new ride looking pristine.
• Lifetime Towing: Complimentary towing within 15 miles of the dealership.

Your Next Step: You do not have to guess what you can afford. You can submit an online application to prequalify for financing through GM Financial—and because it is a prequalification, it will not affect your credit score.