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Ontario Car Loan Requirements
  • Gross monthly income of at least $1750.00
  • Car Loan payments must not exceed 20% of monthly income
  • Residents of Canada only
  • Ability to acquire valid car insurance
  • Not available for private party car purchases
  • No car loan repossessions within past year unless included in bankruptcy

Car Loan Articles

Car Advertisement Promises to Get Your Money

How many dealers offer extraordinarily low interest rates and other exceptional promotions? Ads promising high trade-in allowances, paying off your trade or low-priced options may get you into the store, but finding your best deal requires a few careful comparisons.

A Few Questions to Ask:

  • Does your financing require a large down payment?
  • Are there limits on the payment length of the financing?
  • Is there a significant payment, possibly several thousand dollars due at the end of your financing term?
  • Must you purchase special merchandise or services such as extended warranty, rust-proofing, or a service contract to qualify for a low interest loan?
  • Is the financing rate only available for a limited timey?
  • Does the low rate apply to every vehicle in stock or only certain models?
  • Are you required to give the dealer the manufacturer's rebate to qualify for financing?
  • Will the car be a higher price to qualify for the low interest rate loan?
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