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Financing a Chevrolet through Bob Howard takes one credit application. The finance team can send it to GM Financial, Chevrolet's own lender, and to partner banks and credit unions, then walk you through the approvals. Your rate depends mostly on your credit tier and the loan term. Before you sign, check three numbers: the APR, the term, and the out-the-door price including Oklahoma's 4.5% combined vehicle tax.
A dealership doesn't usually lend you the money itself. It arranges the loan with a lender, then handles the paperwork, title and registration so the purchase closes in one place.
With a Chevrolet, the lender is often GM Financial, the automaker's captive finance company. Chevrolet's own promotional APR offers go through it. Dealers also work with banks and credit unions. That lets a finance manager send one application to several lenders and bring back whichever terms fit your budget, rather than you applying at each bank separately.
That is the main practical advantage of financing at the dealership: one application, several offers, and a purchase that closes the same day. What it doesn't change is the math. A loan from any source is priced by your credit, the amount borrowed, the length of the loan and the vehicle's age, so you should still compare what you are offered against a rate you secured on your own.
Start from a monthly figure that leaves room for insurance, fuel and maintenance. A finance center payment estimate is a starting point, not a quote.
The online credit application collects your income, housing and employment details so lenders can decide. Whether you're coming from Edmond, Moore or Norman, applying from home first shortens your visit to the Oklahoma City store.
Look at APR and term together. A lower payment on a longer loan can cost more in total interest than a slightly higher payment on a shorter one.
Every dollar of equity from a trade or cash down reduces the amount financed. Get your trade appraised through Sell Your Vehicle before you finalize.
Confirm the sale price, taxes, fees, any add-on products, the APR and the number of payments match what you agreed to before signing.
Lenders group borrowers into credit tiers, and the tier drives the rate more than anything else. The figures below are national averages for new-vehicle loans from Experian's State of the Automotive Finance Market report for the second quarter of 2026. They show the spread between tiers. They are not Bob Howard's rates or an offer. Your actual APR depends on the lender, the term, the vehicle and any manufacturer promotion in effect when you buy.
| Credit tier | Typical score range | Avg. new-vehicle APR (Q2 2026) |
|---|---|---|
| Super prime | 781 and up | 4.41% |
| Prime | 661–780 | 6.23% |
| Near prime | 601–660 | 9.67% |
| Subprime | 501–600 | 13.44% |
| Deep subprime | 300–500 | 16.11% |
Source: Experian, average car loan interest rates by credit score. Manufacturer promotional APRs through GM Financial can fall well below these averages on specific models for qualified buyers. Current Chevrolet programs are listed on the Bob Howard finance center and the new vehicle specials page.
Stretching a loan lowers the monthly payment and raises the total interest. The table shows the arithmetic on an illustrative $35,000 amount financed at 6.35% APR, the Q2 2026 national average for new vehicles. It is a worked example of the math, not a quote or an offer.
| Term | Monthly payment | Total interest paid |
|---|---|---|
| 48 months | About $828 | About $4,725 |
| 60 months | About $682 | About $5,942 |
| 72 months | About $586 | About $7,181 |
| 84 months | About $517 | About $8,444 |
Going from 48 to 84 months cuts the payment by roughly $300 but adds more than $3,700 in interest. A longer term also keeps you owing more than the vehicle is worth for longer, which matters if you plan to trade in within a few years. Longer terms can also carry higher rates than shorter ones, so the real gap is often wider than a fixed-rate example shows. Pick the shortest term whose payment fits your budget comfortably.
Neither route is automatically cheaper. The strongest position is to walk in with an outside pre-approval and let the dealer try to beat it.
| Factor | Dealer-arranged loan | Bank or credit union loan |
|---|---|---|
| Number of lenders | Several, from one application | One per application |
| Manufacturer promo APRs | Available through GM Financial on eligible models | Not available |
| Closing | Same visit, title and registration handled | You bring the check or loan documents |
| Rate leverage | Strongest when you hold a competing offer | Gives you a benchmark to negotiate against |
Oklahoma taxes a vehicle purchase differently from most retail goods, and those taxes are commonly rolled into the loan. On a new vehicle, the state charges a 3.25% motor vehicle excise tax plus a 1.25% sales tax, 4.5% combined. Since July 1, 2026, under House Bill 1183, the excise tax is calculated on the vehicle's actual sales price instead of a guidebook value range.
| Item | New vehicle | Used vehicle |
|---|---|---|
| Motor vehicle excise tax | 3.25% of the sales price | $20 on the first $1,500, then 3.25% of the remainder |
| Sales tax | 1.25% | 1.25% |
| Title and registration | Set by Service Oklahoma and itemized on your buyer's order | |
Sources: Oklahoma Policy Institute and the Oklahoma House of Representatives on HB 1183. Rolling tax into the loan is convenient but means paying interest on it, so paying it up front is worth weighing if you have the cash.
A valid driver's license and proof of auto insurance you can transfer to the new vehicle.
Recent pay stubs, or tax returns and bank statements if you are self-employed. Lenders use these to confirm what you listed on the application.
A recent utility bill or lease showing your current address.
Your title, or your current lender's name and payoff amount if you still owe on it, plus both sets of keys.
A lower score narrows your options rather than closing them. Lenders that specialize in near-prime and subprime borrowers exist, and a larger down payment, a shorter term, or a less expensive vehicle all improve approval odds and the rate offered. Knowing your score before you apply keeps the conversation grounded.
A loan builds ownership: once it is paid off, the vehicle is yours with no mileage cap. A lease usually costs less per month because you pay for the depreciation during the term, not the whole vehicle, but you return it or buy it out at the end. If you drive a lot, keep vehicles for many years, or plan to modify a truck, financing usually wins. If you want a new vehicle every few years and drive predictable miles, a lease can make sense. The full breakdown is in Should I Buy or Lease a New Chevy?
If you are comparing trucks, the Colorado vs. Silverado 1500 comparison covers which one fits your towing and hauling, which also sets the price range you will be financing.
How do I finance a car at Bob Howard Chevrolet?
Submit the online credit application or apply in person. The finance team can send it to GM Financial and partner lenders, walk you through the approvals, and complete the contract, title and registration when you choose a vehicle.
What credit score do I need to finance a Chevy?
There is no single cutoff. Lenders approve borrowers across credit tiers, but the rate rises as the score falls. In Q2 2026 the national average new-vehicle APR ranged from 4.41% for super-prime borrowers to 16.11% for deep-subprime borrowers, according to Experian.
Is it better to finance through the dealer or my bank?
Get a pre-approval from your bank or credit union first, then let the dealer try to beat it. Dealer financing gives access to several lenders and GM Financial promotional APRs from one application, while an outside offer gives you a benchmark.
How much tax will I pay on a new car in Oklahoma?
A new vehicle carries a 3.25% motor vehicle excise tax and a 1.25% sales tax, 4.5% combined, plus title and registration fees. Since July 1, 2026, the excise tax is based on the actual sales price.
Can I include my trade-in when I finance?
Yes. Your trade-in's value is applied to the purchase, which lowers the amount financed. If you still owe on it, the payoff is handled as part of the deal.
Does applying for financing hurt my credit?
A credit application typically triggers a hard inquiry, which can lower a score by a few points temporarily. Credit scoring models generally treat multiple auto-loan inquiries within a short shopping window as a single inquiry.
One application reaches GM Financial and the lending partners Bob Howard Chevrolet works with. Apply online, then review your options with the finance team before you commit.
