Making timely payments every month is a tedious obligation for adults to fulfill. Especially when we’re talking about car loans, the most common method to purchase new and used cars alike. However, things never quite stay stagnant, it’s likely that after a few years you might be thinking about changing things up, or even just attempting to refinance your auto loan for a better interest rate. However, there are few options you can take aside from the two as well. When you’re talking about a serious investment like a car, you should also count all your straws beforehand. That said, it essentially boils down to this – your vehicle’s estimated worth. What’s your next move depends on this. Negative Equity Auto Loan To begin with, if you have negative equity, or colloquially known as an ‘upside down’ loan, maybe maintaining the status quo is the right thing to do. Negative equity is when your car’s trade-in [...]
What credit score do I need to apply for a car loan in Cambridge Ontario? Under 500 only means you’d probably not qualify for a juicy car loan interest rate, however, though, this doesn’t mean you’ll not get a car! If you’re worried that your bad credit will keep you away from getting a vehicle in KW, then you’re dead wrong. According to the reports made public by Experian at year end 2017, the ideal credit score for new cars was 712, and 654 for fairly-used cars. You’d be surprised to learn that nearly 20% of car loans went to people with <600 credit scores. Statistics of car loan rates in Canada Someone with a 700 score would probably see a 5% auto loan rate on a used car compared with a 15.1% rate for someone having a score below 500. A 5-year loan of $20,000 gets you a $483 monthly payment compared with $378 [...]
First impressions mean everything, so showing up in a nice company car, lets them know that you mean business. Many business owners are leasing cars for business use. Leasing cars have been gaining popularity with the appealing monthly costs and the capability to change cars repeatedly to keep up with new technology and safety features.
Length of ownership is one of the most important factors to consider when leasing a company car. Many business owners and employees put a lot of miles on a car, therefore will want to turn the car in sooner, making a lease for business purposes a better deal than buying.
Mileage is also an important cost and must be factored in when considering a business lease since company cars typically get more miles on them than personal use cars, which ends up increasing costs.
The total cost of the car must be calculated when trying to figure out if you [...]
How do you make the decision between leasing or buying a vehicle?
To make the car buy vs lease decision is difficult because so many factors are affecting your life right now and cash flow is often the most pressing and demanding factor.
Leasing can often mean your monthly payments are lower, and you only need a low, or no down payment, and those are powerful incentives, but it’s a good idea to look at all the differences between the buying and leasing, to be sure it’s right for you in the long term.
Car leasing is attractive as it can get you a higher-priced, better-equipped, vehicle than you could afford to buy, and often a later model, so it may still have the manufacturer’s warranty. You get to drive the vehicle for the most trouble-free years of its life, then hand it back to the dealer. Then you can either lease a newer car [...]
A lot of students in Cambridge, Kitchener, Waterloo, Guelph or Hamilton find life much more comfortable when they’re able to secure a car for themselves. It’s a good thing lot of lenders are effortlessly working on processes that’d make obtaining car loans for students in Canada easy.
As a student schooling in Ontario, follow these simple steps to increase your chances of qualifying for an auto loan. As usual, before applying for a car loan as a student in Canada, you should do your due diligence, and these tips are here to guide you if you follow them religiously.
Step 1 – When you’re preparing for your car loan application as a student in Canada, it’s essential to keep in mind that these lenders are going to ask you of the full proof of your student enrollment. In fact, a majority of lenders place an age restriction on the kind of student that can apply [...]
While it’s exciting to browse through used car purveyors, especially with the intention of purchasing one, it’s often tricky when it comes to the finance side. It’s easy to overstretch your budget and end up with something that you can’t actually afford. With car financing, which is by far the most commonplace method to purchase a car, there are also some costs that should be budgeted into your used car purchase. So, how do you actually budget for a car? Nowadays, it’s much easier to know how much room you have to work with when it comes to financing a car thanks to online calculators. Many websites do provide this, including ours, Garston Motors at any vehicle’s landing page. It’s a very simple and intuitive, yet helpful utility that can swiftly estimate your monthly payment, and it scales properly with the payment period, interest rate and down payment. This will be your best friend when [...]
Making timely payments every month is a tedious obligation for adults to fulfill. Especially when we’re talking about car loans, the most common method to purchase new and used cars alike. However, things never quite stay stagnant, it’s likely that after a few years you might be thinking about changing things up, or even just attempting to refinance your auto loan for a better interest rate. However, there are few options you can take aside from the two as well. When you’re talking about a serious investment like a car, you should also count all your straws beforehand. That said, it essentially boils down to this – your vehicle’s estimated worth. What’s your next move depends on this. Negative Equity Auto Loan To begin with, if you have negative equity, or colloquially known as an ‘upside down’ loan, maybe maintaining the status quo is the right thing to do. Negative equity is [...]
Financing a vehicle is the most approachable method of owning a new car right now. Albeit technically speaking, you don’t own the car until you’ve paid it off entirely. But you do have some flexibility regarding how you handle the car loan. With that said, it’s common for some folks to want to trade-in their financed car after a few years with a standing debt. In fact, if your car has been problematic to own, or your needs have changed, or even if you just want something better, and you have breathing room financially, trading-in for newer car can prove to be a prudent move. There are a few things you should understand before you attempt to trade-in a financed vehicle though, having some prior knowledge can help you make the right decision for your status quo. How does it work? Your debt doesn’t just vanish when you attempt to trade-in with an auto loan [...]
Are you in a hurry to get car finance? Perhaps you had given up on securing a loan for a vehicle at all, let alone in such a short amount of time. If you are looking for a fast car loan approval, look no further. Here at Garston Motors, we specialize in speedily used car sales with great financing options available to all, no matter what your borrowing history or credit score. You could be driving away in a great quality used car within 24 hours.
The Quickest Car Loan Approvals in Canada
It is secure and easy
Our application process is so quick and easy that doesn’t even require you to leave your home. You can apply online with our simple ca loan application, and one of our qualified finance managers will get back to you the very same day. Once your pre-approved car loan is ready and you have sorted all the [...]
Getting a used car auto loan is as convenient as ever – especially when you choose a dealer who follows all the regulations. You can get a used car loan with 3 headache-free steps.
1. Choose your favorite pre-owned vehicle from the inventory2. Fill our secure credit application form3. Get a quote and a used car approval loan at a preferable rates
You want affordable loan payments of course– and that is a realistic expectation as in-house financing used car dealers connects you to lenders at a very good rates forwarding the savings down to you. This is the nature of the business – as competition tightens, many used car dealerships are willing to offer you zero down payment with decent interest rates – even with bad credit. Yes, you read it right – bad credit is not an issue anymore. However, there are other things to consider – like the condition, quality and the honesty of [...]