Did you know the average cost for a new concrete driveway is about $6 per square foot? A 200-foot driveway could cost over $1,200. But, financing your dream driveway is easier than you think. Welcome to Driveway Finance, where we make home improvements simple.
Driveway Finance Corporation (DFC) is a leading auto lending finance company. We offer competitive programs and top-notch service. This makes financing your driveway project simple. No matter your credit, DFC can help you get the driveway you’ve always wanted.
Looking to install a new asphalt, concrete, or specialty driveway? Driveway Finance has the tools and expertise to help. We’ll work with you to find the best financing option. Whether it’s a personal loan or home equity financing, we’ll find what fits your budget and timeline.
Key Takeaways
- Driveway Finance Corporation (DFC) provides easy financing solutions for homeowners looking to upgrade or install new driveways.
- DFC offers a range of financing options, including personal loans and home equity financing, to suit various credit profiles and budgets.
- With DFC, you can access loans for driveway projects ranging from $1,500 to $100,000, with competitive rates and flexible terms.
- DFC’s programs are designed to help homeowners achieve their dream driveways without breaking the bank.
- Financing your driveway project can be a smart investment, as it can increase your home’s value and curb appeal.
What is Driveway Finance?
Driveway Finance Corporation (DFC) is a top finance company in the U.S. It offers unique financing options for driveway projects. Started in 2012 as Southern Cascades Finance Corporation, DFC now helps customers all over with driveway financing services and driveway finance programs.
Overview of Driveway Finance Corporation
DFC is the main lender for Lithia Motors and its dealer groups. It’s known for great service and competitive financing. With Lithia Motors having 267 dealerships in 24 states and making $23 billion a year, DFC plays a big role in helping with driveway upgrades.
Services and Offerings
Driveway Finance Corporation offers many driveway finance programs for different needs and credit levels. If you want a new driveway or to improve an old one, DFC’s team can help. They’ll guide you and provide the financing you need to achieve your driveway goals.
DFC works with Shaw Systems Associates for top-notch service. Shaw’s Spectrum loan servicing suite helps DFC manage its auto finance portfolio well. This ensures DFC can grow and serve customers better.
Financing Options for Driveway Paving
Thinking about a new driveway or repaving? There are many financing options to make it easier on your wallet. You can choose from personal loans to home equity loans, finding the perfect fit for your budget.
Personal Loans for Driveway Financing
Personal loans are a popular choice for driveway projects. They’re unsecured, meaning you don’t need collateral. While they might have higher interest rates, applying is often easier. Personal loans can cover up to $100,000, with repayment times from 7 to 12 years.
Interest rates vary from 5% to 36%. This depends on your credit score and other factors.
Home Equity Loans and Other Alternatives
Home equity loans are another option. They let you borrow against your home’s equity. This can offer lower interest rates but requires more paperwork. Some homeowners prefer to pay cash upfront to avoid interest and fees.
Choosing the right financing is key for your project. Look into different driveway financing options to find what works best for you. This way, you can get the driveway you’ve always wanted without breaking the bank.
Financing Option | Average Cost | Loan Term | Interest Rate Range |
---|---|---|---|
Personal Loans | Up to $100,000 | 7-12 years | 5% to 36% |
Home Equity Loans | Varies | Varies | Typically lower than personal loans |
Cash Payment | Depends on project size and material | N/A | N/A |
Benefits of a New Driveway
Getting a new driveway can really boost your home’s value. A well-kept driveway can increase your home value by up to 10%. It also makes your home look better, which is great for selling and looks nice.
A new driveway can fix problems like ruts and cracks. It makes your home look new and inviting. This can help sell your home for more money because it looks good.
Increased Home Value and Curb Appeal
A good driveway adds value and looks to your home. Here are some reasons to get a new driveway:
- Increased Property Value: A new driveway can make your home worth up to 10% more, which is a smart choice.
- Enhanced Curb Appeal: A new driveway makes your home look welcoming and well-kept.
- Improved First Impression: A new driveway gives a good first impression, which is key when selling your home.
Fixing driveway problems and getting a new one can increase your home value and curb appeal. This is a smart investment for selling your home or just making it look better.
Cost Factors for Driveway Paving
The cost of driveway paving can change a lot based on several things. The main factor is the material used. For example, a new concrete driveway might cost about $6 per square foot. On the other hand, an asphalt driveway usually costs between $3 to $4 per square foot.
Repaving an old driveway is often cheaper. Asphalt repaving can cost around $1 to $3 per square foot.
Average Costs by Material Type
- Concrete Driveways: $4 to $8 per square foot, with a lifespan of approximately 75 years.
- Chip Seal Driveways: $5 to $10 per square foot, lasting 7 to 10 years.
- Asphalt Driveways: $7 to $13 per square foot, with a lifespan of 15 to 30 years.
- Gravel Driveways: $1 to $3 per square foot, potentially lasting up to 100 years.
- Rubber Driveways: $6 to $25 per square foot, with a life expectancy of 20 years or more.
- Paver Driveways: $10 to $50 per square foot, with a life expectancy of 50 years or more.
- Heated Driveways: $12 to $25 per square foot.
Factors Affecting Driveway Paving Costs
Other things can also change the cost of driveway paving. These include the size and design of the driveway, its current state, and where the home is located. Labor costs can vary from $2 to $7 per square foot, depending on the material. Removing an old driveway can cost $1 to $6 per square foot for asphalt and concrete.
Choosing the Right Driveway Material
There are many driveway materials to choose from. The right one can make your home look better and increase its value. It should also be durable and easy to maintain. Let’s look at the different driveway material options and help you choose the right one for your needs.
Concrete and asphalt are the most popular choices. Concrete lasts up to 30 years with care, but it’s more expensive upfront. Asphalt is better in cold weather and can handle thaw cycles well.
If you want something unique, consider pavers, brick, or stone. They can last up to 50 years with the right care. But, they’re more expensive and harder to install because each stone is placed individually.
Think about your budget, climate, and what you like when choosing the right driveway material. A good budget for installation is $20-$30 per square foot. New driveways cost $2,000 to $5,000, and updating an old one costs $1,000 to $2,000.
Driveway Material | Durability | Maintenance | Aesthetics | Cost |
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Gravel | 1 | 4 | 1 | 1 |
Concrete | 3 | 2 | 3 | 3 |
Asphalt | 2 | 3 | 2 | 2 |
Pavers | 4 | 1 | 4 | 4 |
By thinking about these factors and looking at the different driveway material types, you can choose wisely. This ensures a driveway that’s both durable and looks great for your home.
Comparing Concrete vs. Asphalt Driveways
Both concrete and asphalt have their own benefits and drawbacks. Knowing what each offers can help you choose the right one for your home and budget.
Pros and Cons of Concrete Driveways
Concrete driveways are very durable and can last up to 50 years with care. They can handle twice the pressure of asphalt, making them strong. Plus, you can customize them with different patterns, colors, and textures to make your home look great.
But, concrete driveways cost more to install, between $8 and $15 per square foot. They also need about 7 days to cure, which might be a problem if you need your driveway fast.
Pros and Cons of Asphalt Driveways
Asphalt driveways are cheaper, costing between $6 to $9 per square foot. They work well in cold weather, making them good for places with harsh winters. They last about 30 years with care and are easier to fix than concrete.
But, asphalt driveways can get damaged by UV rays and soften in the heat. They also have fewer design options, usually just gray or black.
Concrete Driveways | Asphalt Driveways |
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Choosing between a concrete vs asphalt driveway depends on your budget, climate, and style. Both have their own pros and cons of concrete driveway and pros and cons of asphalt driveway. Think about what you need and want before deciding.
Driveway Finance: Competitive Programs and Exceptional Service
Driveway Finance Corporation (DFC) is a trusted partner for financing your dream driveway. As the main lender for Lithia Motors and Lithia-owned dealers, DFC provides driveway financing solutions for homeowners. These solutions are designed to meet your unique needs.
DFC is all about competitive programs and exceptional service. They focus on making financing easy and helping you reach your driveway goals. Their goal is to make the process smooth and confident for you.
- DFC offers auto loans up to $100,000 with terms from 12 to 84 months. Their interest rates start at 3.99% APR.
- They also have refinancing options for loans up to $75,000. You could see interest rate reductions of up to 2%.
- Lease buyout loans from DFC can finance up to $50,000 for up to 60 months.
- The company also supports auto dealership financing. They offer inventory loans up to $500,000.
At DFC, personalized support is key. Their team of experts will guide you through the financing process. They ensure clear communication and solve any problems quickly.
Whether you’re a first-time homeowner or a seasoned DIYer, DFC’s driveway finance competitive programs and exceptional service make achieving your dream driveway easier than ever.
DIY vs. Professional Driveway Installation
Homeowners face a choice between DIY or hiring a professional for driveway installation. Saving money upfront is a big plus of DIY. Yet, there are many things to think about before making a decision.
When to Hire a Professional Contractor
Most people should choose a professional for driveway installation. Driveway paving needs special tools, hard work, and a team to get it right. A pro ensures your driveway is top-notch and lasts a long time.
The size, design, and complexity of your driveway matter too. Big or complex driveways need a pro’s skills and tools.
- Professional installation means the job is done right and meets standards.
- Experts have the right gear and know-how for the hard work of paving.
- Contractors often offer warranties, giving you peace of mind.
While DIY might seem appealing, it’s key to consider both sides before deciding. Your choice depends on your budget, the project’s complexity, and your skills.
Maintenance and Longevity of Driveways
Keeping your driveway in good shape is key to its long life. Concrete driveways can last over 50 years with the right care. Asphalt driveways, on the other hand, usually last about 30 years.
Driveway upkeep includes fixing cracks, sealing the surface, and handling potholes or erosion. Regular maintenance helps your driveway look and work well for longer.
Here are some tips to make your driveway last longer:
- Avoid heavy loads on the concrete during the first few weeks after it’s laid.
- Seal the concrete to protect it from water, chemicals, and stains.
- Fill the edges of the concrete driveway with dirt to strengthen it.
- Keep trees and bushes away from the driveway to avoid root damage.
- Don’t use rock salt or de-icing chemicals, as they can harm the concrete.
- Use plastic or snow blowers instead of metal shovels to avoid scratches.
- Clean spills right away to prevent stains and damage.
- Fix cracks quickly to keep the driveway strong.
By following these tips, you can make your driveway last longer and look great for years.
Driveway Maintenance Task | DIY Cost | Professional Cost |
---|---|---|
Patching or Sealing Cracks | $5 – $15 | $100 – $1,000 |
Patching or Resurfacing Surface Damage | $5 – $80 | $2,000 – $5,000 |
Lifting Uneven or Sunken Slabs | $15 – $80 | $500 – $6,000 |
Tree Root or Stump Removal | $0 – $150 | $300 – $800 |
Replacing Extensively Damaged Slabs | $500 – $1,000 | $2,000 – $15,000+ |
Cleaning Stains and Discoloration | $60 – $90 (pressure washer rental) | $400 – $500 |
The cost difference between DIY and professional maintenance shows the value of hiring experts. They offer better solutions and save you money in the long run.
Conclusion
Getting a new or repaved driveway is a big home improvement step. But, with the right financing, it’s doable. Driveway Finance Corporation offers many programs and great service. They help homeowners finance their driveway projects, no matter their credit.
They have options like personal loans, home equity loans, and cash payment plans. This way, you can find the best financing for your needs. It lets you improve your home’s look and value.
Driveway Finance Corporation can help with asphalt, concrete, or paver driveways. They offer flexible terms, low-interest rates, and even government grants or discounts. This makes your driveway a beautiful part of your property without costing too much.
The driveway finance conclusion is clear: the right financing and a trusted partner like Driveway Finance Corporation can enhance your home. By looking at the driveway financing summary in this article, you can make a smart choice. Start transforming your outdoor space today.
FAQ
What is Driveway Finance Corporation (DFC)?
Driveway Finance Corporation (DFC) is a finance company in Southern Oregon. It offers easy financing for both consumers and dealers. They have competitive programs and great service, making financing your driveway project simple.
What financing options are available for driveway projects?
You can finance your driveway project in several ways. Personal loans are unsecured and can be used for home improvements. Home equity loans let you borrow against your home’s value.
What are the benefits of investing in a new driveway?
A new driveway can boost your property value by up to 10%. It also makes your home look better, attracting buyers and improving your property’s look.
How much does driveway paving typically cost?
Driveway paving costs vary based on the material and other factors. Concrete driveways cost about $6 per square foot. Asphalt driveways cost $3-$4 per square foot. Repaving costs less, with asphalt at $1-$3 per square foot.
What are the most common driveway materials?
You can choose from many driveway materials. Concrete and asphalt are the most popular and affordable. Concrete lasts longer but costs more upfront.
What are the pros and cons of concrete and asphalt driveways?
Concrete driveways are pricier but last over 50 years with care. Asphalt driveways are cheaper but last about 30 years. Concrete is better for warm climates and offers more design options. Asphalt is better for cold weather but has fewer design choices.
When should I hire a professional contractor for driveway paving?
While you can pave a driveway yourself, hiring a professional is usually best. Paving needs special equipment and a lot of work. A professional ensures a quality, lasting driveway.
How can I maintain the longevity of my driveway?
Keeping your driveway in good shape is essential. Concrete driveways can last over 50 years with regular care. Asphalt driveways last about 30 years. Maintenance tasks include filling cracks and sealing the surface.
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