Canadians from coast to coast to coast for the most part need a car. If you are living in downtown Vancouver or the GTA, you may be able to get by with public transit but for the rest of us, without a car, it would be impossible to lead a normal life.
That’s certainly true for Brantford, which is where our auto loans team spends a lot of their time!
Have you noticed the price of cars?
We have established the need for a car, but have you looked at the price of a new or even used car? The prices are high and due to a host of economic factors will not be going down any time soon.
Since most Canadians do not have several thousands of dollars sitting idle in their bank account, they need a way to finance the purchase of the car.
Auto Financing 2.0
A decade or so ago, if you wanted a car loan in Brantford you would have to go to a bank. The challenge with bank loans is they are very conservative and if you do not check all of the boxes on their checklist, the loan will be declined.
While credit unions are a bit more flexible, it was only in the last decade with the proliferation of the Internet that Canadians have more car financing options available.
The majority of us do our shopping online and also research financial products like insurance and yup car loans. The information provided online is helpful but when trying to secure a competitive auto loan, your best bet is a local car dealership. These dealerships have a few strategic advantages that the average person does not have.
The dealership is your friend
One of the distinct advantages the dealership has is the number of Brantford auto loans they work regularly. For the average person, they may apply for a car loan once every couple of years. The local dealership works on hundreds if not thousands of applications in the run of a year.
This experience gives the dealership to quickly determine which lender is most likely to approve your loan and give you a good deal. While on the topic of lenders, another advantage the dealership offers is access to a network of lenders you would never be able to interact with.
The lender within this channel works solely with dealerships and gives the dealers preferential service and rates. When you go to a dealership for a car loan, they will be able to secure offers that you cannot get anywhere else.
Another unique benefit the dealership offers is professional credit rebuilding advice. Perhaps you are having some challenges or just want to make sure your credit score is at an optimum level. The dealership representatives are fully versed in how to rebuild and maintain great credit. These dealerships want to provide you with a holistic approach to car buying and have a great experience doing it.
Without auto financing, most of us would not be able to drive or lead a normal life. Now that you have some insight into how auto loans work you can contact your local dealership and meet up with them.
For those of you who know that you have a challenging credit situation, please visit Dixie Auto Loans where we have a team of credit specialists ready to help you get approved for a car loan today!
For any questions or concerns, please don’t hesitate to contact us here!