Lease vs Finance

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Auto Loan and Lease Options to Fit Your Lifestyle

At Rick Hendrick Chevrolet Norfolk, you have options when it comes to acquiring a new car. Financing the car of your dreams isn’t the only way to get behind the wheel. Leasing offers Norfolk-area customers an alternative which usually includes greater benefits than financing a new vehicle. If you’re stuck between financing or leasing or are simply unsure of what leasing entails, our knowledgeable sales professionals at Rick Hendrick Chevrolet Norfolk can help to determine what your best options are.

Sales Info

Phone Number:Sales Hours:
  • Mon - Sat9:00 AM - 8:00 PM
  • Sun12:00 PM - 6:00 PM

Advantages of Leasing


Leasing will usually get you a lower monthly payment than if you were to purchase the same car. You may also be able to upgrade to a more expensive model or add additional options while staying within budget.


With cars these days evolving at a fast pace, the technology options are nearly endless. Through leasing, you’re able to have a car with the most up to date technology features.


At the end of your lease, you will simply turn the car into the leasing agency.


Typically the length of your lease will be shorter than a basic warranty. This will help you save maintenance and repair costs.

Disadvantages of Buying


Not only is the overall cost of purchasing a car higher, but with a loan the interest you will pay is based off the entire loan amount.


Purchasing a car sometimes comes with facing uncertain market values when the time comes to sell or trade your car in. When financing, you are still liable for paying the loan balance if you owe more than the vehicle is worth.


Long-term loans = more money out of your pocket. Because long term loans carry a higher rate and interest has more time to accrue, the total cost may rise significantly.


Financing or purchasing a vehicle means that the bank or leader will need an initial payment from you. Among other factors, this payment is usually calculated according to your credit score.

Rick Hendrick Chevrolet Norfolk is located at: 6252 E. Virginia Beach Blvd. • Norfolk, VA 23502
Hendrick Vehicle Disclaimer

$799 Dealer Processing Fee not included in advertised price.

Advertised prices EXCLUDE options added by the dealer and displayed on the vehicle’s window sticker addendum. Please contact dealer for additional details.

All prices exclude all taxes, tag, title, registration fees, government fees and electronic filing fee. Out of state buyers are responsible for all taxes and government fees and title/registration fees in the state where the vehicle will be registered. All prices include all manufacturer to dealer incentives, which the dealer retains unless otherwise specifically provided. Dealer not responsible for errors and omissions; all offers subject to change without notice; please confirm listings with dealer. All vehicles may not be physically located at this dealership but may be available for delivery through this location, and any applicable transportation charges will be disclosed upon vehicle selection.

Additional Disclaimers:

Well-qualified customers who purchase a new, used, or certified preowned vehicle, 5 model years or newer with less than 72K miles between January 2, 2023 and February 6, 2023 and finance through a participating dealer and lender have an option to defer monthly payments for 90 days from contract date. Finance charges begin to accrue on the date you sign the Retail Installment Sale Contract at the Annual Percentage Rate (APR) disclosed in the contract. May not be combined with other preferred lender financing offers. 72 months maximum term limit. Non-commercial transactions only. Equal monthly payments only. Dealer participation required. Not available to Pennsylvania residents, see your dealer for details. Must take retail delivery by February 6, 2023.

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Rick Hendrick Chevrolet Norfolk 36.8553, -76.1913.