The ABC’s of Your Car Loan

If you are looking to buy a used car, chances are good that you will need to have a car loan in order to buy the car. We specialize not only in selling top-quality cars at affordable prices, but also in making sure our customers have affordable car loans in Ontario that make buying the right car easier than ever! If you are looking for a car loan to go along with your new or used car, here are a few things we want you to know:

How car loans work

It’s important that you understand how car loans work before you take out a car loan. A car loan is an amount of money that a lender will lend you. That money needs to be repaid. Car loans generally come with interest rates. An interest rate is a percentage of the total car loan that is charged to the borrower in exchange for the loan. Interest rates vary based on the lender, economy, and the borrower’s credit history. The interest rate can also vary based on special deals that are currently going on here at The Approval Centre.

Car loans also last for a longer period of time. You may take out a car loan to buy a car this year and still be repaying the loan in five years. Therefore, it is important that you are comfortable with the amount of the car loan – and that you are prepared to make that long-term commitment to repaying it.

Complete the credit application

Before you can get a car loan, you need to give the lender some important information about your financial situation and credit history. The way to get this information quickly is to complete a credit application. The credit application will allow us to run a credit check on you, which will help us to learn more about your spending habits and history, which will then help us to establish a loan program that is just right for your financial needs.

Speak with a lender

Once we have a general idea for what kind of car loan you may qualify for, we will be able to advise you as to which loan options are right for you. It is then up to you to select the loan option that you are most comfortable with.

We look forward to helping each of our customers get the right loans for their needs – right when they need them. Speak with us today for more details about how to apply now!

Buying Used and Saving Money

car should you buy

When it’s time to purchase a new vehicle, one of the first things you need to think about is whether you are going to buy used or new. Depending on your needs and your budget, either choice can be the right one for you. But here’s a money saving tip, buy used cars if you are confident in your ability to find a good model and you will walk away with a lot of savings. including your payment on your car loan.  Here are a few of the advantages of purchasing used vehicles.

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Finding The Best Car For Your Needs

car

Everyone has a dream car, but many people don’t ever see that dream realized. Luckily, getting your dream car may be easier than you’ve previously thought, because auto loans can make it attainable. There are lots of things to consider when you’re looking at your options for loans, but it’s important that you keep things as simple as possible to keep yourself from getting overwhelmed. Here are some things to keep in mind as you go through this process.

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What To Look For In A Dealer

car

Buying a car can be intimidating. Even at the best price, buying a car is a large financial commitment and you want to make sure you’re making the right decision. You may be wondering what to look for in a quality car dealer, how you can go about getting financed, and what sorts of makes and models are the most reliable.

These questions can seem overwhelming, but purchasing a car can be a genuinely fun experience. With a little time, a little know how, and an internet connection, you are going to be able to learn exactly what to look for in a quality car dealer, how to go about purchasing your car and what sort of financing options are going to be available to you.

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Get Approved With No Credit

no credit

If you don’t have a credit history, you might think that you can’t get a car loan.  This isn’t necessarily true.  If you lack a lack a credit history or have no credit, there are still  a number of options available to you when purchasing a vehicle.

First, you can make yourself a better candidate by opening a checking and savings account which can show a lender that you are responsible with money when you maintain a balance.  You can apply for a credit card which reports to a credit bureau.  If you use the card and pay it off monthly this can show a lender that you are able to manage credit and will also begin your credit history.  You can keep a steady employment and residence.  If you move around a lot, lenders are likely to think that you are not stable.

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