blog:car loan Archives | Car Nation Canada
How does a previous repossession affect your chances of a car loan?
We were asked an interesting question in a Car Nation Canada dealership last week. One I don’t think I have covered in the blog before. We were asked ‘How does a previous repossession affect your chances of a car loan?’ The person asking the question had their car repossessed a couple of years back and […]
Is your credit impacted if you have to refinance a car loan?
As you can imagine, Car Nation Canada has been asked a lot of questions around car finance, loans, servicing loans and refinancing over the past few months. One of the more prevalent questions has to be, ‘Is your credit impacted if you have to refinance a car loan?’ Refinancing is a popular way to rebalance […]
Car buying mistakes to avoid when shopping for a new car
Buying a new car is a big step whether you’re have the spare cash lying around or have to get a car loan. It’s a lot of money and a car is something you will spending a lot of time in and around. If you’re in the market for a new car, try to avoid […]
What to do if your car loan application was rejected
If you have applied for a car loan and had it rejected, it’s not the end of the world. You may have some work to do to remedy the situation but nothing is forever and there are some simple ways to ensure your next application is successful. If you apply for a car loan through […]
Can you lease a car with bad credit?
We talk a lot about buying a new car with bad credit but we don’t often mention leasing. As Car Nation Canada also leases new cars, it makes sense to cover that too. So can you lease a car with bad credit? Yes you can. Like buying a car with a loan, your options may […]
Does paying off a car loan early make sense?
Car loans can be a significant monthly payment. Being in a position to settle a loan early could mean you have more cash to spare each month and one less debt to worry about. Does settling a car loan early make sense? Not always, as much depends on your situation. You would think that paying […]
Should you buy a car online?
With COVID-19 having closed much of the auto industry, including dealerships, now isn’t the best time to be shopping for a new car. It is a great time to research and get pre-approved for a car loan but the purchase itself may have to wait. Or does it? Is buying a new car online a […]
What is car loan pre-approval and what can it do for you?
You will often see pre-approval used with car loans. It is just one of the many terms you need to become familiar with if you are to fully understand the loan process. As Car Nation Canada likes every customer to know exactly what they are getting into before making a decision, let’s cover pre-approval and […]
How to find out if your car has negative equity
With the current situation, many people are having to take a long hard look at their finances and maybe deciding what has to go in order to survive. Of all the assets we have, our cars offer the best option for generating enough money to see us through. If you have a loan on that […]
Is now a good time to refinance a car loan?
With the world in turmoil, people being furloughed, laid off or worse and employers having to save money wherever they can, cash can be tight. If a car loan makes up part of your monthly outgoings, would now be a good time to refinance? Maybe yes. Maybe no. Refinancing should be more about your personal […]