blog:car loan Archives | Car Nation Canada
Are longer term auto loans a good idea?
We are seeing more queries than ever for longer term auto loans. Loan terms of 72 or 84 months are becoming increasingly popular. But are longer term auto loans a good idea? As cars get more expensive and we accrue more monthly outgoings, we are increasingly looking to reduce our monthly payments wherever possible. One […]
My car loan application was rejected, what now?
The title says it all really. This is a situation we see often when buyers apply for loans on the internet without proper preparation. It’s a tough situation to find yourself in but it isn’t irreversible. So what can you do if your car loan application is rejected? Car loan rejection reasons Most lenders will […]
What is cash-out car loan refinancing and is it a good idea?
Regular readers of this blog will know that I like to take customer questions and address them to a wider audience here. This week is no different but includes a question I haven’t heard before. Namely, what is cash-out car loan refinancing and is it a good idea? As the name suggests, this is loan […]
Five good reasons to regularly check your credit report
As far as we can see, there are five compelling reasons to monitor your credit report whether you’re planning to apply for a car loan or not. While it’s the agency’s responsibility to maintain the report, it’s our responsibility to make sure our credit report accurately reflects what’s going on in our lives. Those five […]
Fixed and variable rate car loans
When shopping around for car loans, you will see two terms used a lot, fixed rate and variable rate. All car loans will feature one or the other and some lenders deal exclusively in one form of interest over the other. So what are they and which is best? Fixed rate car loans Fixed rate […]
Can students get a car loan?
One of the many questions we are asked here at Car Nation Canada is around the different professions or stages of life and whether they can access car loans or not. This week we are going to tackle one of the most common life stages, being a student. Can students get car loans? The answer […]
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 […]