Car loans
08-10-2005 | 11:06 AM
#1
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Car loans
Hey guys, could you throw some phone numbers of car loan companies in Toronto. Can anyone look at the Star and Sun, and automart magazine, for some numbers, really apriciate..(I know most of you have them everyday lying around here and there)
Last edited by shuller1458; 08-10-2005 at 11:09 AM.
08-10-2005 | 05:12 PM
#2
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Instead of an automobile loan with their automatically higher interest rates, you should consider getting a Line of Credit from you bank. It will usually have a cheaper interest rate, will have more flexible payment options, and it could also be used for other things besides the car.
08-11-2005 | 08:03 AM
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Re-negotiate it with your PBO.. some LOC's are 2% repayment plus interest, or "interest only".
If you took out all $40,000 from your current LOC at 6%, the "interest only" monthly payment would only be $200. It's a pretty sweet deal if you can get it.
If you took out all $40,000 from your current LOC at 6%, the "interest only" monthly payment would only be $200. It's a pretty sweet deal if you can get it.
Last edited by Croesus; 08-11-2005 at 08:05 AM.
08-11-2005 | 08:46 AM
#5
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They wouldn't give me interet only payments, because in is not secure investment or withdrawal. I tell them : "I am buying a CAR" but they say, that they do not consider an automobile as security, only house, stocks, bonds are considered to be securities and are available for interest only payments and lower prime rates. It is TD btw.
That's why I want to try 3rd party landers. so does anybody knows, companies or lenders who specialize in car loans?
That's why I want to try 3rd party landers. so does anybody knows, companies or lenders who specialize in car loans?
08-11-2005 | 10:32 AM
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you can get a better rate from the dealerships depending on the car you're looking at getting. Usually from 0% financing to 3.9% again the financing rate they'll usually base on not only credit but on the car, the more popular the car the higher the interest rate.
08-11-2005 | 04:47 PM
#8
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Originally Posted by Chubby_C
you can get a better rate from the dealerships depending on the car you're looking at getting. Usually from 0% financing to 3.9% again the financing rate they'll usually base on not only credit but on the car, the more popular the car the higher the interest rate.
I would love to, but the problem is that I whant to buy a car from a dealer auction. soo.. basically I have to buy a car and then get a loan.
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