Frequently Asked Car Loan Questions Toronto, Ontario,



Q. What types of cars do you carry?
A. We carry all makes and models.

Q. Do I have to finance or can I choose to lease a vehicle?
A. You may choose to finance or lease your new vehicle.

Q. I recently came out of a bankruptcy- can I still be approved for a car loan?
A. Of course! Just after a bankruptcy is a good time to get a car loan because it will help to re-establish your credit. Our credit experts will get you approved and find a car loan to fit your needs.

Q. Can I still buy a car if I don’t have a driver’s license?
A. Yes, you can finance a car without a driver’s license, although you will not be allowed to drive it.

Q. Do I need to have money down or a co-signer in order to be approved?
A. We try to get you approved with no money down and no co-signer.

Q. I am currently in a lease- am I still able to get a car?
A. We will get you out of your lease and into a new car- regardless of what you owe.

Q. Is the car loan open-ended?
A. Yes, all of our loans are open-ended- that is to say, you can choose to pay the full amount at any time, without being stuck with the accumulated interest.

Q. What is the interest rate on a car loan?
A. The interest rate on a car loan can range anywhere from 0% to 29.9%. The interest rate is dependent upon a number of factors, your credit being the most important of all. The better your credit is, the lower your interest rate will be. This is because the bank deems it as a low risk loan. If you have not so perfect credit, the bank sees it as a higher risk loan and may ask for a higher interest rate.

Q. Will I be stuck with a high interest loan for the full term?
A. Absolutely not. If you make all your payments on time, we can make the necessary arrangements to payout the old contract and get a new contract setup at a much lower rate. Of course, the banks are happy to do this when you have a PROVEN PAYMENT HISTORY.

Q. I would like to lower the rate of my current car loan. Is this possible?
A. If you are currently paying a high interest rate on your car loan and you have been making your payments then we can certainly help you lower your monthly payments on your current car loan.

Q. Do I need to have insurance?
A. If you buy a vehicle then you must have insurance before you take delivery of the vehicle. It’s the law.


Welcome to Canada Motor Car Toronto!

Whether you are looking for a bad credit car loan or just a great used car in the Toronto region, Canada Motor Car has the experience and the selection to help you. We currently have three convenient locations to help you find the perfect vehicle: Toronto, Ottawa and our newest location, Cambridge!

We have helped thousands of people in the Toronto region who had bad credit obtain auto financing for their new and used cars. Canada Motor Car's Toronto auto loan specialists are here to help you apply for an auto loan, regardless of your current credit situation. We have on-site auto finance managers ready to help get your car loan pre-approved! With so many people applying with us for their car loans, we have become recognized as one of Canada's fastest growing dealer groups!

Feel free to browse our used car inventory, for Toronto used cars, to find the vehicle of your dreams. You can search our new and used car inventory online and receive free no obligation price quotes. We also accept trade-ins. In fact, we love trade-in vehicles! Tell us about your current car and we will make you an offer! We have onsite experiences auto appraisers.

If you want some valuable background information before making any decisions, be sure to check out the informative articles regarding credit, vehicles and general car maintenance and tips. That information has been taken from our many years in the auto industry. If you still have questions look over the frequently asked questions to see if they're already covered.

Contact the Canada Motor Car Toronto location at 866-622-2475 today! You may also request information online or stop by at 2944 Eglinton Avenue East, Scarborough, Ontario, during regular business hours. Canada Motor Car Toronto is here to help you with all your auto needs.

Canada Motor Car Toronto proudly serves the following communities: Toronto, Scarborough, Pickering, Ajax, Whitby, Oshawa, Courtice, Bowmanville, Markham, Richmond Hill, North York, Stouffville, Aurora, King, Bolton, Caledon, Brampton, Newmarket, Vaughan, Mississauga, Etobicoke, Port Hope, Cobourg, Trenton, Belleville and the Greater Toronto Area.

Feel free to visit our blog, our directory resources of auto links for all things automotive or our list of partner sites.

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