Everything you need to know about how to get a car loan, why you need a car loan and where to get a car loan from a dealership near you.

  • You’ll need a car loan if you want to buy a vehicle without paying cash upfront.
  • Each month, you’ll pay a fixed amount toward the principal and interest over a set period.
  • You can use a local Ontario car dealer financing to buy a vehicle or arrange car loan financing through a bank, credit union or online lender.
  • Be sure to compare the APR, car loan term and dealership fees before formally applying for a local Toronto car loan regardless of having bad or good credit.

If you need to buy a car, you must first arrange for car financing. Auto loans in Ontario Canada in areas such as Toronto, Mississauga and Brampton Ontario are just funds you borrow to pay for the vehicle. This money includes the vehicle’s purchase price whether new or used, auto loan interest and any applicable dealership fees you choose to finance.

Comparing your auto loan options and getting the right vehicle loan could save you hundreds in fees. It’s important to learn the key terms  of an auto loan whether new or used so you know what you are applying for.

How do I apply for an auto loan in Ontario Canada?

You can review local interest rates and apply for your Ontario auto loan online in just a few minutes. There’s no fee to apply and most decisions with the dealership are available in about 5 minutes. In cases where auto loan applications require a more detailed dealer review, they will send you an email when the decision is ready.

You can also schedule an appointment with our local Toronto car loan provider to meet with a dealership at your convenience or contact us at 647.926.0046 to request more details over the phone.

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