EASY & AFFORDABLE FINANCING OPTIONS!​

The amount a bank will finance is dependent on the book value. Banks in Canada use Canadian Black Book to determine the car’s value.

Yes, in Canada most car loans are open-ended. This means that you can pay off your loan early without any penalties.

Yes, you can get a car loan. Here are some things you can do to help secure a car loan approval if you are self-employed.

Financial institutions typically take four major factors into account:

1. Down Payment

2. Vehicle specifics (model, style, age, mileage, and cost)

3. Application information such as income, time at current job, and time at residence

4. Credit history

The interest rate is the amount of money a lender would charge you to lend money. Depending on your credit, interest rates in Canada can range anywhere from 0% to 29.99%. If a lender believes that the loan is a higher risk, they would charge a higher interest rate. It is important to maintain a strong credit profile to avoid this.

Unlike some US States, there is no cooling-off period in Canada. This means that you need to be sure of your decision before signing a contract. In some cases, a dealer can work with you to make changes before delivery. It is extremely difficult for a dealer to reverse the process after delivery. So please, be sure of your decision before purchasing.

YES YOU CAN! We would need to secure you a new approval with a lower interest rate. From there, a new lender with a new rate would pay off your existing lien in full. After that, you would be able to move forward with your new loan. Keep in mind, if you rolled in negative equity on your original loan and your loan is over book value, you could be asked to put money down.