Car Credit Available to All
Car Credit Available to All
Posted on May 17, 2021
Financement automobile Montréal makes car credit accessible to everyone with its flexible credit program and its car financing calculator and car loan simulation tools.
Montreal, the city where everything is accessible. And that's why we offer our services to car buyers in Montreal. Our car financing allows buyers with tight financial situations to purchase a certified pre-owned vehicle without affecting their budget.
Our 2nd and 3rd chance credit program makes car financing accessible to all.
Glossary of terms to know for a car loan
You are about to take out a car loan, but you are not familiar with the technical terms and you want to know a little more before you have to sign a contract?
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Here is a small lexicon of the main terms that are used in the financial language concerning this type of contract.
Unfortunately, sometimes we find ourselves in a precarious financial situation, a reality that can affect anyone, and we don't always have any control over it. Whether it's because of a job loss or unexpected expenses, sometimes you have a bad credit record, making it challenging to access car financing.
Most financial institutions only offer auto financing to buyers with good credit. That said, it is not uncommon to be denied financing simply because of unpaid debts and too many credit applications.
At Financement Automobile Montréal, we aim to offer reasonable auto financing for everyone, regardless of their credit score. We understand the fear of being turned down for a car loan and are on a mission to eliminate the stigma about bad credit.
Financement Automobile Montréal offers you not only appropriate car credit but also a financial translator. Far too many banking institutions hide terms, conditions and interest rates under a blanket of jargon. Our experts will help you simplify the process and calculate the optimal down payment and loan amount. You can also use our car loan calculator to get a clear picture through a simulation.
The primary goal of Financement Automobile Montréal is to find the most cost-effective solution for you. Instead of complying with the strict requirements of a financial institution, you will have access to a range of cost-effective options optimized for your financial situation. This way, you won't have to deal with the stress of being turned down for a loan: you're in control!
In addition to easier access to credit, Financement Automobile Montréal offers you the peace of mind and security you need to purchase a vehicle. You will be sure to have car financing adapted to your financial situation, and you will not have to sacrifice the major part of your budget.
No matter what type of vehicle you are looking for, we will be able to offer you a cost-effective solution, without the fear of rejection that one finds with a financial institution. For more than 15 years, we have been offering car credit to people from all walks of life and all professions. We are here to help you and to offer you the best solution!
To make an application with Financement Automobile Montréal, go to our website at financing page. Fill out our credit application form, indicate your interest in pre-approval if required, and wait for us to contact you to take the next step. No matter what your credit score is, we'll have the solution for you.
It is the rent of the money, it is what your credit will cost you once you have repaid it. It is expressed as a percentage and can be either nominal, if it is defined when the contract is signed, or real, if it is linked to inflation and risk premiums.
The credit rate can be fixed, variable or mixed. It is the percentage by which the interest you will pay is calculated. With it, you can define the amount and especially the number of monthly payments. This percentage must be written on your contract.
Certain fees are added when you take out a car loan. In addition to the interest, there are other fees such as file fees, optional insurance fees and fees for the use of a payment method.
Yes, you can. It is possible to obtain a loan for the purchase of a used car in the same way as if it were new. Some vehicles, even used ones, are relatively expensive and many Canadians prefer to use auto financing rather than paying large sums of money at once.
For various reasons, you may no longer be willing or able to make your monthly car loan payments. It may also happen that, due to an illness or an accident, you are temporarily or permanently unable to drive. You may also want to change your vehicle. In short, there are three ways to get out of a car loan.
The first is to pay it back in full. Be careful, if you do not respect the duration of the contract, penalties may apply.
It is also possible to opt for a smaller or less expensive car and see with your credit organization the value of the remaining loan. The third option is to sell your vehicle and the loan that goes with it to someone who meets the credit requirements.
Each loan is different, as several factors come into play. They depend on the price of the vehicle, the interest rate you've managed to negotiate, how long you're willing to make the loan last, how much money you're putting down as a down payment, and the taxes that apply. Use our car loan calculator to estimate the monthly payment for your next new or used car.
For any other questions, call us at (866) 996-7548.