Auto Financing at Melloy Chevrolet — Los Lunas, NM
Melloy Chevrolet serves car buyers across Los Lunas, Albuquerque, Belen, and surrounding areas. Whether you're purchasing a new Silverado, Tahoe, Equinox, or a quality pre-owned vehicle, our finance team works with multiple lenders — including GM Financial — to secure competitive rates and flexible terms.
Most credit decisions are returned quickly, and many customers complete the process the same day.
How the Financing Process Works
Step 1 — ApplyComplete our secure credit application online or in-store.
Step 2 — Review OptionsWe present financing and leasing options from GM Financial and other lenders.
Step 3 — Drive HomeSelect your terms and take delivery — often the same day.
Financing for All Credit Situations
We work with all credit types — from excellent to first-time buyers to those rebuilding credit — through GM Financial and our network of lending partners.
| Credit Profile | Typical Range | What to Expect |
|---|---|---|
| Excellent | 720+ | Best rates, eligible for GM Financial promotional APR offers |
| Good | 660–719 | Competitive rates from GM Financial and lenders |
| Fair | 600–659 | Flexible terms available |
| Rebuilding | Below 600 | Options available through multiple lenders |
| First-Time Buyer | Limited credit | Ask about first-time buyer programs through GM Financial |
GM Financial Financing at Melloy Chevrolet
As a Chevrolet dealership, we offer financing through GM Financial, Chevrolet’s captive lender. GM Financial provides competitive APR rates, lease programs, and incentives for qualified buyers. Offers vary by model and are subject to approval.
What to Bring
- Driver’s license
- Proof of income
- Proof of residence
- Insurance info
- Trade title (if applicable)
- Social Security number
Vehicle Protection Products at Melloy Chevrolet
When you finance or purchase a vehicle at Melloy Chevrolet, our finance team can walk you through a range of optional protection products underwritten by Zurich, one of the world's largest insurance and financial services companies with an A-rated financial strength rating. Zurich has been a leading provider of automotive protection products for decades. These products are designed to help protect your investment, reduce unexpected out-of-pocket expenses, and keep your vehicle covered well beyond routine ownership costs. They are completely optional. Our job is to explain them clearly so you can decide what fits your needs, budget, and how long you plan to keep your vehicle.
A note on MelloyCare+: New vehicles purchased at Melloy Chevrolet include MelloyCare+ coverage for two years, helping cover scheduled maintenance during early ownership. The products below can extend protection beyond routine maintenance or help cover expenses that factory coverage and basic maintenance plans do not.
Extended Service Contract
Also called a vehicle service contract or extended coverage planAn extended service contract helps cover mechanical and electrical repairs after your factory warranty expires. Chevrolet factory warranty coverage varies by vehicle and component, but an extended protection plan can continue that coverage well into the years and miles ahead.
What it typically covers:
- Engine, transmission, and drivetrain components
- Electrical systems, sensors, and modules
- Air conditioning and heating systems
- Fuel system components
- Steering and suspension on higher-level plans
- Roadside assistance and rental benefits on many plans
Why it matters: Major repairs on modern vehicles can get expensive quickly. A single covered repair on a Silverado, Tahoe, Traverse, or Equinox can easily outweigh the cost of the contract. These plans can often be included in your monthly payment.
Melloy Chevrolet offers extended service contracts through Zurich. Coverage is honored at licensed repair facilities, which matters if you travel, relocate, or need service away from Los Lunas.
GAP Protection
Guaranteed Asset ProtectionGAP helps cover the difference between what you owe on your vehicle loan and what your auto insurance pays if your vehicle is declared a total loss due to accident, theft, or natural disaster.
Example: You finance a $45,000 Silverado. A year and a half later, it is totaled. Your insurance company pays actual cash value, but you still owe more than that on the loan. GAP helps protect you from paying that difference out of pocket.
GAP is especially important if you:
- Made a small down payment
- Financed for 60, 72, or 84 months
- Rolled negative equity into the new loan
- Lease your vehicle
- Purchased a vehicle with faster depreciation in the early years
Melloy Chevrolet offers GAP coverage through Zurich. In many cases, GAP can be included in your financing, making it easier to protect yourself without a large upfront cost.
Prepaid Maintenance Plan
Helps extend scheduled service coverage beyond MelloyCare+Once your included MelloyCare+ maintenance period ends, a prepaid maintenance plan can help keep your service costs predictable. Rather than paying for each visit individually, you prepay for a defined number of routine maintenance services at today’s pricing.
Typically includes:
- Engine oil and filter changes
- Tire rotations
- Multi-point inspections
- Air filter replacements on some plans
- Wiper blade replacements on some plans
Why prepay? Labor and maintenance costs rarely get cheaper. Locking in service pricing can help you budget better, maintain a consistent service history, and support long-term vehicle value.
Melloy Chevrolet’s prepaid maintenance plans are administered through Zurich and can often be included in your monthly payment.
Tire and Wheel Protection
Road hazard coverage for tires and wheelsTire and wheel protection helps cover repair or replacement costs when your tires or wheels are damaged by potholes, nails, debris, or other road hazards that are not covered by your factory warranty and often not worth filing through traditional insurance.
What it covers:
- Tire repair or replacement from road hazard damage
- Bent or cracked wheels
- Mounting, balancing, and disposal fees on covered replacements
Particularly relevant in New Mexico: Roads around Albuquerque, Los Lunas, and throughout Valencia County can be rough on tires and wheels. Replacement costs on newer Chevrolet wheel packages can add up quickly.
Melloy Chevrolet’s tire and wheel protection is underwritten by Zurich.
Appearance Protection
Paint, interior, and exterior protectionAppearance protection packages typically combine exterior treatment, interior protection, and cosmetic repair coverage into one plan. These products are designed to help protect your vehicle from the wear that comes with daily driving and ownership.
May include coverage for:
- Paint chips, scratches, and fading
- Interior stains on fabric or leather
- Windshield chip repair
- Dent and ding repair on some packages
This can be especially useful for buyers who plan to trade or sell in a few years, since vehicle condition affects trade value and resale appeal.
Key Replacement & Theft Protection
Covers lost, stolen, or damaged keys and fobsModern Chevrolet vehicles use advanced keys and fobs that can be expensive to replace and program. Replacing a lost or damaged key can cost hundreds of dollars depending on the model and equipment.
A key replacement plan helps cover the cost of replacement and reprogramming during the coverage period. Some plans also include theft-related benefits or deductible reimbursement.
This is one of those products people ignore right up until the exact moment they need it.
Protection Products at a Glance
| Product | What It Covers | Best For |
|---|---|---|
| Extended Service Contract | Mechanical and electrical repairs after factory coverage ends | Buyers keeping their vehicle long-term or driving higher miles |
| GAP Protection | Difference between insurance payout and loan balance in a total loss | Low down payment, long loan terms, or negative equity situations |
| Prepaid Maintenance Plan | Routine maintenance services after MelloyCare+ ends | Buyers who want predictable service costs and consistent upkeep |
| Tire & Wheel Protection | Road hazard tire and wheel damage | Drivers on rough roads or with larger wheel packages |
| Appearance Protection | Paint, interior, and cosmetic protection | Buyers focused on condition, trade value, or lease return standards |
| Key Replacement | Lost, stolen, or damaged key fobs | Any buyer, especially households with multiple drivers |
Common Questions About Protection Products
Who underwrites these protection products?
The protection products offered at Melloy Chevrolet are underwritten by Zurich, a long-established provider of automotive protection products and related services.
Can these products be financed into my loan?
In many cases, yes. Most protection products can be included in your financing so the cost is spread across your monthly payment rather than paid all at once.
Are these products required to get financing?
No. These products are optional. Your financing approval is not dependent on purchasing any protection product.
Can I cancel a protection product after purchase?
Many products include a cancellation provision with a pro-rated refund based on time and usage. Ask your finance manager for the exact terms before signing.
Is an extended service contract the same as a factory warranty?
No. A factory warranty comes with the vehicle from the manufacturer. An extended service contract is optional coverage you can purchase to help protect yourself after factory coverage ends.
Does GAP replace my auto insurance?
No. GAP works with your auto insurance. Your insurance pays actual cash value in a total loss, and GAP may help cover the remaining balance you still owe.
Questions About Your Protection Options?
Our team can walk through these products clearly and simply so you can decide what fits your needs.
Get Pre-ApprovedContact Finance Team-
Melloy Chevrolet
377 Emilio Lopez Road
Los Lunas, NM 87031
- Sales: (505) 431-9563
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Get Pre-Approved for Your Next Chevrolet in Los Lunas
Financing at Melloy Chevrolet is built to be simple. Apply online in minutes, review real options with our team, and move forward with terms that fit your budget. We work with local New Mexico credit unions, national lenders, and GM Financial to help drivers across Los Lunas, Belen, Albuquerque, and beyond.
Secure Online Application
Your financial information is handled with care and confidentiality.
Local & National Lending Options
We shop trusted lenders to help find terms that make sense for you.
All Credit Situations Welcome
Good credit, rebuilding credit, or first-time buyer, we work to find a path.
Fast Answers
Many customers receive a financing decision the same day they apply.
Finance Your Purchase
Why Buying Makes Sense
Financing a Chevrolet lets you build equity with every payment and gives you full ownership once the loan is paid off. There are no mileage restrictions, and you have the freedom to keep, customize, trade, or sell on your own timeline.
Buying is often the stronger long-term value for drivers who keep their vehicles for several years or put on higher annual mileage. It is also a strong fit for truck buyers who plan to work, travel, or tow without lease limits hanging over them.
Lease a Chevrolet
Why Leasing Appeals to Some Drivers
Leasing can offer a lower monthly payment and the ability to move into a newer Chevrolet every few years. It works well for drivers who like staying current with the latest technology, safety features, and design updates.
At lease-end, you can return the vehicle, buy it for the predetermined residual value, or move into another new model. Ask our team about current Chevrolet lease offers and programs on qualifying models.
Flexible Financing for Drivers Across Central New Mexico
Melloy Chevrolet works with buyers from Los Lunas, Belen, Albuquerque, Bosque Farms, Peralta, and throughout Central New Mexico. We help first-time buyers, customers rebuilding credit, self-employed shoppers with non-traditional income, and drivers trading in vehicles with equity or payoff balances.
Loan terms typically range from 48 to 84 months, and many customers can finance with little or no money down depending on approval. Taxes, registration, and eligible protection products can often be included in the financing structure if that better fits your monthly budget.
Shopping a Chevrolet EV? We can help with financing or leasing on electric models like the Equinox EV, Blazer EV, and Silverado EV, with the same goal as any other purchase: clear numbers, straightforward guidance, and a payment that works.
🇪🇸 Hablamos español. Nuestro equipo de finanzas puede ayudarle en español. Llámenos al (505) 431-9563.
Financing Questions, Answered
That depends on how you drive and how long you plan to keep the vehicle. Leasing often brings a lower monthly payment and easier upgrades every few years, but it comes with mileage limits and lease-end conditions. Financing usually makes more sense for drivers who keep a vehicle longer, drive higher miles, or want to build ownership equity over time.
A credit inquiry happens when you submit a full application and authorize lender review. In many cases, multiple lender inquiries within a short shopping window are treated as a single inquiry by the major credit bureaus. Our team can also help you understand payment options before you fully commit.
Yes. We work with lenders that serve a wide range of credit profiles, including customers rebuilding after past credit issues. A steady income, a down payment, a trade-in, or a co-applicant can all help strengthen an application. The best move is usually to apply and let our team show you the real options available.
Many qualified buyers can. Zero-down financing is possible in a number of situations, though a down payment or trade equity can reduce your monthly payment and sometimes improve your overall structure. We will walk you through both options so you can decide what fits best.
Most loan terms fall between 48 and 84 months. Shorter terms usually mean higher monthly payments but less total interest paid over time. Longer terms can lower the payment, though they increase the total cost. We can show you both side by side.
Yes. We can help with financing and leasing options on Chevrolet electric vehicles, including current EV models in inventory. Whether you prefer ownership or the flexibility of a lease, our team can walk through the numbers clearly and help you compare your options.
Get Pre-Approved in Minutes
Start online, review your options with our team, and take the next step with confidence. No pressure. Just real numbers and straightforward help.
Apply for Financing OnlineFinancing subject to credit approval. Terms, rates, and vehicle availability vary by applicant, lender, and program eligibility. See dealer for details. Melloy Chevrolet, 377 Emilio Lopez Road, Los Lunas, NM 87031. (505) 431-9563.