Finance Articles

How to Finance a Car Through Your Business

business use needs. There are a few things to consider when looking to finance a vehicle for your business. In this post, we outline what you should know about financing a used car for your business and what other options you might wish to look into.

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How Much Will a Bank Finance on a Used Car

rs drive cars they love with financing rates that truly suit their needs. We know that understanding auto financing can be tricky. In this post, we help you understand what you should know about financing a used car and what you might want to keep in mind concerning negative equity.

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Should You Finance a Used Car or Pay Cash?

Buying a used vehicle is an economical choice that can help you save money while driving a car you love. As used cars are often more affordable than used vehicles, some buyers consider whether it is better to pay cash for a used vehicle or take advantage of financing options. There is no one-size-fits-all answer to this question, however, there are some things you may want to consider when you start looking for your next vehicle.

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How Do I Finance a Car from a Private Seller?

ar for sale that suits your needs and also suits your budget, you might find that used cars sold privately are slightly more affordable than those from a dealership. Though buying and selling privately can offer a financial benefit, it can be more challenging to navigate the car buying process for a private sale and also comes with some risks.

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Can I Transfer My Financed Car to Someone Else?

If you are currently financing a car and for whatever reason are looking to have someone else take over the financing, you might be wondering what options you have. Though it is not generally possible to transfer your loan to another person, you still have options.

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Can You Return a Financed Car Back to The Dealer?

Life happens, and sometimes you may find yourself wanting to return your car back to the dealership you bought it from. Though in many cases, a dealership will take back the car that you bought from them, they are under no obligation to do so and do not have to give you back exactly what you paid for it. When looking to sell your car back to the dealership it's important to know what the process entails so that you don’t become disappointed or frustrated with the process.

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What Credit Score is Needed to Finance a Car?

Are you looking to purchase a new or used car and are wondering what sort of credit score is required to be successful with financing? With so many financing offers being advertised it can be hard to know what you will qualify for without starting a financing application. Though every person’s financial circumstances are unique, there are some basic truths to auto financing that you can rely on.

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How Does Financing a Car Actually Work?

f you are buying a car for the first time you likely have a lot of questions about the process and will want to lean, how does financing a car work? Though it might seem complicated or even intimidating, financing a car can be easy. Learning how to finance a car is your first step towards

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What You Need to Know About 0% Financing and Used Cars

At Autorama, we are dedicated to helping our customers get behind the wheel of cars they love, all while ensuring their financing option is great too. Many of our customers are first-time car buyers who have a lot of questions about the car buying process and auto financing. Often, they hear about 0% financing through advertising initiatives and hope that they too can get 0% financing on a used car.

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How to Finance a Car with No Money Down

From having your car break down for good, to a rapidly expanding family or even just wanting something new, there are countless reasons why you may want to get into a new car. Sometimes your need for a new vehicle can mean that you haven’t had time to save for a down payment. When this happens, you’re going to want to learn how to finance a car with no money down.

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Can You Cancel a Car Finance Agreement

ake this isn’t a problem and you can likely return it. But when it comes to buying a car, things can get a bit more complicated. This is especially true if you have financed a vehicle and still owe a balance.

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Car Insurance and Financing, What You Need to Know

There’s no getting around it, if you own a car, you need car insurance. Though it is a standard expense that comes with owning a car, most people don’t enjoy having to pay for car insurance. In most cases, vehicle owners will seek out the best possible car insurance rates which can sometimes mean opting for lower coverage levels. Sometimes our customers ask us, can I finance a car without full coverage insurance? Though having partial coverage can be a good option for those whose cars are paid off, you’ll want to ensure you have full coverage for your financed vehicle.

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What Do I Need to Finance a Car?

Are you getting ready to purchase a vehicle? If so, you’ve likely considered financing to make the purchase easier to manage. Financing can be a great way to keep your auto costs low and manageable all while allowing you to drive a car you love. When first time car buyers come to our dealership they often have a lot of questions about financing. From, what do I need to bring when financing a car? Do you need a down payment to finance a car? There is a lot to learn.

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How to Buy a Used Car – Your Used Car Buying Guide

have some questions about the car buying process. Though there are many similarities between the new and used car buying processes there are a few unique aspects of used car buying that you might want to be aware of. From financing to warranties and beyond, you’ll want to be fully informed about how buying a used car works as well as the benefits of choosing a previously owned car over a new one.

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How to Get Approved for a Car Loan

Whether you are looking to get approved for a car loan to buy your very first car or are an experienced car owner looking for an upgrade there are a few things you will want to know. Getting approved for a car loan can be as simple as applying for auto financing online, but sometimes you may find that you are not getting approved for the amount you desire or are not getting a financing rate or term that is ideal for you.

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Can You Use Spousal Income for a Car Loan?

When you are looking to get approved for auto financing there are many things you will want to consider. Beyond the length and term of your auto loan, you’ll also want to be sure that you are getting into a car that suits your needs and is affordable for you. At our used car dealership, we often find that families and couples are looking to maximize the amount they are approved for on their auto loan. One of the most common questions we get asked is, can you use spousal income for a car loan?

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What Should a Used Vehicle Interest Rate Be?

Are you shopping for a new or new-to-you vehicle and are wondering if the interest rates offered to you are any good? You wouldn’t be the first to notice that used cars don’t come with the ultra-low promotional offers that are frequently advertised for new vehicle purchases. You shouldn’t expect to see a 0% financing rate when purchasing a new car. But what should used vehicle interest rates be and how can you know you have found the best possible rate available for you?

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Self-Employment and Auto Financing, What You Need to Know

When you apply for an auto loan one of the main conditions of approval is that you have the income to make the payments. For many potential car buyers, a paystub or letter of employment is sufficient proof of income. But what happens when you are self-employed and don’t have access to a pay stub to prove that you have adequate income to pay the loan?

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What Happens When You Trade in a Car You are Still Financing?

There are many great reasons to finance a car and it’s no surprise that many car owners choose this convenient option. Financing helps you to get into a car you love at an affordable and predictable monthly cost. One thing that some consumers worry about when financing any vehicle is the possibility that their circumstances may change during the financing period of their current vehicle.

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How Long Should You Finance a Used Car?

If you are looking to finance a used car in Toronto, you might have some questions about the financing process. It can be easy to become confused by the overwhelming amount of advertising about interest rates and terms of loans. But what does this all mean for you as a car buyer? There are many options to choose from when it comes to financing and the loan option you choose will be highly dependent on your personal financial circumstances and goals.

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Credit and Car Buying 101

When you are looking to purchase a car, it is likely that you will want to take advantage of financing to make the purchase more financially feasible. Auto financing can feel stressful or even hopeless to those who have low credit scores or even no credit. But it does not have to be something to stress about. Though it is true that your credit score will affect things such as how much or at what interest rate you will be approved for, there are options available to most buyers.

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How to Finance a Car Without a Job

When you are looking to purchase a new vehicle, you might need to consider financing options. When you are unemployed it can be a little more challenging to get the financing, you need. If you are wondering, how can I finance a car with no job, we are here to help.

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Can a Parent Finance a Car for Their Child?

Are you about to have a new driver in your household? Or possibly a student off to post-secondary education that needs a reliable form of transportation? Purchasing a new car for your child or helping them to purchase their own can be an exciting time. Though you may be wondering, can you finance a car for someone else?

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How to Finance a Car with Poor Credit

When you are looking to finance a car, having bad credit can be an obstacle. If you have been applying for a line of credit with your bank and are not getting anywhere, you still have other options. Though you may not have the most diverse selection of financing rates, you can get a car loan with bad credit.

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Financing a Car with Little or No Credit

There are many reasons that someone may have no credit, but these reasons should stop you from financing the car you need. Often individuals who are new to Canada, or younger car buyers may have no credit simply due to not yet having had the time to establish credit. When you do not have any credit you may be wonderings, is it possible to finance a car with no credit? Thankfully, the answer to this question is yes.

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Can I Get Approved for a Car Loan if I have Bad Credit

Within the widespread landscapes of the Greater Toronto Area and fast pace environment we have all grown accustomed to, it is without a doubt, necessary to have a vehicle if you want to keep up. The luxury of purchasing a car may seem a bit of a far reach for those whom may not have the means to make a big purchase, which often leads to the idea of acquiring a car loan. Car loans hold a lot of benefits: financing allows you to not have to freeze up equity in a depreciating asset, it makes car buying possible for those who do not have enough equity to make a purchase out right, and it allows you to grow your personal credit history.

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Can I Get Approved For a Car Loan If I have No Down Payment?

With interest rising for financing options in used car sales, it is important for the buyers to educate themselves on the details and requirements of a car loan. One of the main concerns buyers have when playing with the idea of financing their next vehicle is: How much down payment do I need?

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Obtaining an Car Loan with Late Payments

In the fast pace environment we all live in, it is common for people to miss payments from time to time on their credit cards, phone bills or even a loan. Late payments are detrimental to your credit score and as much as one late payment can drag your score down significantly.

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Buying a Used Car in Toronto

Your average consumer in the North American market makes a car purchase every 5 years which also means that most people have not had enough experience to be familiar with the used car buying process. Here is a quick guide to help you through your next purchase

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Car Loan Approvals While Being Retired

You are now retired after many years of working, it is time for you to enjoy the fruits of your labour and that means do the things you want to do and buy the things you want to buy. A lot of retirees will eventually want to purchase a new vehicle, whether it is for pleasure or just something new and efficient for daily errands. You may wonder, are there any specific expectations or requirements are needed in order to obtain a car loan as a retiree?

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Getting Approved After Bankruptcy

For the longest time, Bankruptcy is seen as a financial dead end; but with today’s economy, banks and lenders are more understanding that in certain circumstances, it is the logical thing to do. While experiencing financial woes, it is important to pick yourself back up and equip yourself with tools that will efficiently bring you back to comfortable standing.

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Divorcing With a Current Car Loan

Divorce is an end of a partnership. Martial assets split and so does martial debt. When dealing with splitting a current car loan during a divorce, you must be clear in the contract as to what you wish to do with it.

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Auto Financing for Students

Student at a postsecondary level are at the time of their lives where they transition over to adulthood. During this transition, it is important to acquire tools that will assist them in the work field as much as their studies.

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Get Approved with New Credit

New credit is when you have had no prior or existing trade lines, whether it be telephone line, credit cards, and loans of any sort. If you fit in this category and are wondering if it’s possible to get a car loan, yes you can!

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It is never too late to start building your credit.

If you pay cash and live within your means, this would appear to be financially responsible. However, many lenders to not share this point of view. Many look upon no credit as bad credit. We look beyond the numbers and work with our lenders to secure you the best terms and rates for your no credit car loan. A car loan is one of the most efficient ways of establishing a good credit rating, while enjoying the new vehicle you have purchased.

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Stop dreaming. Start driving!

There are a lot of considerations when buying your first car and all these decisions can add up to a rather stressful experience. Let us make your first car loan experience simple and uncomplicated. Our Credit Specialists have worked with many first time car buyers and we can secure you a first time car buyer loan at the best rate and financing terms available. A car loan, paid back promptly, is one of the best ways to establish your credit and improve your credit score, and you get to enjoy your new vehicle while doing it!

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Life is full of complications but your Car Loan should not be!

If you have had a vehicle repossessed in the past, this does not necessarily disqualify you from obtaining a car loan. Our Credit Specialists will work with you closely to help obtain a car loan at the best rates and terms for your circumstances. We know that a promptly paid car loan is probably the best way to repair your credit after a repossession. Let us help you re establish your credit.

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Your Late Payments should not stop you of moving forward!

We understand that, from time to time, almost everyone has some temporary financial problems that may result in a record of late payments. Many lenders will penalize you for this with very high interest rates to compensate for a late payment history. Our Credit specialists will go beyond the numbers to better understand your current credit circumstances in order to secure you the best rate and term for your car loan. Put our years of credit experience and expertise to work for you.

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