Category: Auto Financing

Posts related to Auto Financing

One’s financial status can be tempestuous. One day you could be doing fine and make timely payments, while you may also be one crippling bill away from filing bankruptcy. While going bankrupt is eminently a troubling thought for many, especially for those currently under financial burden, even when bankrupt you can still commit to some financial dedication, such as buying a car.

We certainly understand that realistically speaking, you’d need a car in Canada to get to places that you need to be. That’s why that even when faced with financial adversities that we reckon a car still remains a daily necessity to get you out of a rut. However, owning a car even after bankruptcy needn’t be a stressful undertaking. That said, there are things that you should acknowledge about owning or purchasing a car post-bankruptcy.

Obviously, the worst thing about filing for personal bankruptcy is the fact that it will leave a lasting [...]

Are 0% Interest Rate Loans for Real?

What is the catch with 0 percent financing?

Recently, something you’ll often see while browsing newspapers or some dealership websites are the advertisements selling cars with a dubiously attractive text – “0% financing”. It almost seems like magic, how do they profit from this? Of course, many would be apprehensive about this and do a bit of calculation themselves, but even with that, it can seem like there’s no caveat. But there must be a catch, so what is it?

Thing is, it can often cost more to finance a car through the seemingly enticing 0% financing deals. To truly understand, you’ll have to grasp new car purchase incentives well. Right now, there are two major kinds of incentives that are popular: 0% financing and a cash rebates. However, particularly the case for more expensive cars, 0% financing certainly sounds like a more tempting prospect.

What car manufacturers are offering 0% financing?

0-percent financing is really simple to comprehend, it’s a loan that [...]

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 used 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 [...]

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 [...]

Want to trade in a car that is not paid off yet?

Trade in a car you still owe on?
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 [...]