General Motors has announced a new subprime financing offer for the 2020 and 2021 model year Chevy Silverado 1500 pickup truck.
Under this new subprime offer, customers will be able to purchase a Chevy Silverado 1500 in the LT trim level at 10.9% APR for up to 72 months. This deal can be had with the purchase of either a 2020 Chevy Silverado 1500 Regular or Double Cab or a 2021 Chevy Silverado 1500 Regular or Double Cab. A down payment may be required in order to secure the vehicle with this financing rate as well.
Subprime loans are usually reserved for customers who have a low credit score or a high credit card balance, and fail to qualify for the best or prime interest rates. Customers interested in getting this subprime financing offer on a new Chevy Silverado 1500 must sign the purchasing contract between March 2nd and March 31st, 2021 and must qualify for the purchase through GM Financial. This offer may not be available with certain other special finance or lease deals and some other offers.
This isn’t the only deal being offered on the Chevy Silverado 1500 at the moment, either. As we reported earlier this week, Chevrolet is also offering low-interest lease rates for certain 2021 Chevy Silverado models, which include a zero-dollar security deposit and payments of less than $300 a month on select models in select markets. There’s also a $7,000 cash allowance available on select 2021 and 2021 model year Silverado 1500 Crew Cab models. These offers will also expire after March 31st, 2021.
Pricing for the 2021 Chevy Silverado 1500 starts at $30,595 including destination and freight for the Work Truck trim level with rear-wheel drive and the base 4.3L LV3 EcoTec3 V6 engine. The LT trim level that the subprime financing deal mentioned in this article applies to starts at $41,695 for a Double Cab model with the turbocharged 2.7L L3B four-cylinder engine and rear-wheel drive.