Missing any payment is not something we would recommend but isn’t the end of the world. What’s most important is what you do next. This is something we see often. Life is busy, we all have a lot going on and it’s very easy to miss something like this. We asked our auto loans team to outline the steps you should take if you miss a car payment. Act fast and you may be able to rescue the situation. Missed a Car Payment To be blunt, missing an auto loan payment is a big deal and

We all want to save money. Whether it’s to have less going out each month, to help build a college fund for the kids, or something else entirely, we all want more cash at the end of each month. So how can you get cheap car finance on your current car or for your next one in Ontario? Car loans are a part of modern life and are almost inescapable for many. Unless you live in a city where public transport is plentiful, you’re going to need a car. With the price of new cars stead

Most people know that you need a credit score to get a car loan in Burlington but does financing a car help build credit? Once you qualify for the loan, do it begin repaying you by helping your credit score? Servicing any debt will help boost your credit score, including an auto loan! How Does Financing a Car Help Build Credit? Your credit score will influence how many lenders will work with you and the interest you pay on that loan. Once you have the loan, a few successful p

When you finance an auto loan, it’s usually for a set period called the loan term. Some loans will allow you to reduce that period using overpayments, so if you want to pay the auto loan off early, you often can. This post will walk you through everything you need to know about how to pay off a car loan early. Check Your Loan Paperwork As we mentioned at the top, not all lenders will allow overpayments. Some will flat out not allow it while others will charge early repayment

We all know that car loans are made up of the amount you borrow, the principal and interest, but is that it? Is there more to how car loans are calculated? We asked our auto loans team to explain how to calculate car loans and why you end up paying what you do. How to Calculate Car Loans There are three main influences over the cost of a car loan, the amount you borrow, the interest rate you’re charged and the term of the loan. Each combines to make up the overall cost of the

Are you planning on purchasing a new car but don't have the financial resources to do so on your own? Don't worry, you're not alone. Many people require financing in order to afford the vehicle of their dreams. However, not everyone can qualify for a car loan on their own, especially those with bad credit or no credit history. This is where co-signing and co-borrowing come in. Both options allow individuals to secure financing, but they are not the same thing. In this article

It can feel intimidating to try and finance a car loan with 500 credit score or less. But with a few of our easy to follow tips, you'll get a car you want in no time. The majority of people in Canada rely on credit to lead a normal life; with the average Canadian just $200 away from insolvency, your credit score can make or break you financially. Buying a car with 500 credit score could lead to some significant challenges, especially if left unchecked. Your credit score is no

Are you in the market for a car, but don't want to break the bank by purchasing a brand-new vehicle? Well, have you ever considered a certified pre-owned car? A certified pre-owned car, or CPO car, is a used car that has undergone a rigorous inspection process to meet specific manufacturer standards. This process typically includes a multi-point inspection, a review of the car's history report, and necessary repairs or replacements to ensure the car is up to par. CPO cars are

Getting a car loan can be daunting, especially if you don't have someone to co-sign for you. In Canada, many people rely on co-signers to secure loans, but it's possible to get a car loan on your own. Here’s a straightforward guide on how to navigate this process without a co-signer, specifically through dealerships. Understanding Your Credit Score Your credit score plays a crucial role in securing a car loan without a co-signer. It reflects your creditworthiness and helps le

When shopping for a new car, Canadians often encounter various financing options. One popular choice is the 72-month auto loan. But what exactly does this mean, and is it a good idea for you? In this article, we will break down everything you need to know about 72-month auto loans in a simple and easy-to-understand manner. What is a 72-Month Auto Loan? A 72-month auto loan is a type of financing option where you agree to pay off your car over six years. This means you have 72

If you're in Ontario and looking for the best way to buy a new car, you're not alone. Whether it’s your first car or you're simply upgrading, the process can feel overwhelming. The good news is—it doesn’t have to be. When we say “new car,” we don’t necessarily mean brand new from the factory. We’re talking about a car that’s new to you—whether it’s fresh off the lot or a well-maintained used vehicle from a trusted dealership. Here’s a step-by-step guide to help you understand

Although buying a car with cash has advantages, it might not be the best choice for your circumstances. Although they are more expensive in the long run, auto loans can occasionally come in handy. Another query that we are unable to properly respond to because it heavily depends on your particular circumstances. Instead, we'll provide some advice on the advantages and disadvantages of paying cash for a car so you can make a more wise choice. Buying a car with cash Buying a ca

If you’re in Ontario and wondering if you can finance a car with bad credit, the good news is that it’s possible. Many dealerships understand that not everyone has perfect credit and offer options specifically designed for people in your situation. Let’s explore how you can finance a car with bad credit in Ontario and what to watch out for during the process. Understanding Bad Credit Bad credit usually means your credit score is low, often due to missed payments, high debt, o

Financing a car can be an exciting step toward owning a vehicle without paying the full cost upfront. If you're in Ontario, Canada, and considering this option, understanding the requirements to finance a car is crucial. At our dealership, we aim to make the process as simple and transparent as possible. Let’s break it down for you. 1. A Steady Income One of the first requirements to finance a car is proof of a steady income. Lenders want to ensure you have the financial stab

Buying a car can feel challenging, especially if you have bad credit. But at our dealership, we believe everyone deserves a second chance to drive their dream car. If you live in Ontario and are worried about securing financing for a pre-owned car because of your credit score, we’re here to help! Why Choose Pre-Owned Cars? Pre-owned cars are an excellent option for anyone on a budget. These vehicles often come at a much lower price than brand-new cars, saving you money upfron

If you’re looking to buy a car in Ontario, going with a used vehicle can be a smart move. It’s often more affordable, and you can still get a great car that meets your needs. But what if you don’t have all the money upfront? That’s where used car financing comes in. Let’s break down exactly what used car financing means, how it works, and what to expect when buying from a dealership in Ontario. What is Used Car Financing? Used car financing simply means getting a loan to help

This week we’re discussing situations some borrowers find themselves in that present a challenge managing the day to day. Today, we’re covering how to prevent missing loan payments by transferring a car loan to someone else. If you are in financial trouble or think you’re going to have genuine issues affording your car loan repayments, you can transfer a car loan. It isn’t the only option though. You could also consider refinancing the loan, selling the car, taking a payment

Driving for Uber in Ontario is a great way to earn extra income or even make a full-time living. But to get started, you need a reliable car. Many drivers wonder, "Can I get a car loan as an Uber driver?" The answer is yes! You can get a car loan from a dealership, even if your primary income comes from driving for Uber. Here’s a simple guide to help you understand how it works. Can Uber Drivers Get a Car Loan? Yes, Uber drivers can get a car loan. Dealerships and lenders und

Fresh Start Auto Financing is a fantastic option for Canadians in Ontario who need a second chance at buying a car, especially if they have a less-than-perfect credit history. Whether you’ve experienced financial setbacks in the past or are looking to rebuild your credit, Fresh Start Auto Financing can help you secure the vehicle you need, even if you’ve been turned down by traditional lenders. Let’s explore how Fresh Start Auto Financing works and how you can take advantage

Thousands of Canadians have found themselves in difficult situations through no fault of their own. The pandemic has wrought devastation across all aspects of our lives and financial difficulties are just one aspect of that. So what can you do if you can't afford a car loan anymore? Don’t Panic First things first. Don’t panic. Everyone needs help at some point in their lives and there is help available. There are also some practical things you can do if you can't pay a car lo