get approved

the application takes a few minutes and puts you in front of several lenders rather than one.

applying does not commit you to buying anything, and it does not commit you to accepting whatever comes back.

what you will need

• identification. a valid Ontario driver's licence.
• proof of income. recent pay stubs, or if you are self-employed, notices of assessment. pension, disability and support income all count.
• your address history, usually going back three years.
• employment history, usually going back three years.
• what you owe, roughly. other loans, credit cards, and any current car payment.
• your trade, if you have one, and whether there is money still owing on it.

rough figures are fine at this stage. the lender verifies before anything is finalised, so a guess that turns out wrong just slows things down rather than causing a problem.

what happens next

we submit the application and come back to you with what the lenders actually said: the amount, the term, and the rate.

sometimes that is straightforward. sometimes it comes with conditions, like a larger down payment or a shorter term. occasionally the honest answer is that now is not the right time, and we will say that rather than pushing you into something expensive.

nobody is approved until a lender approves them. a dealer cannot promise that in advance, and any dealer who does is guessing.

about your credit score

a financing application does involve a credit check, and multiple applications in a short window for the same purpose are normally treated as one enquiry by the scoring models. so shopping for a car loan does not damage your credit the way six separate credit card applications would.

if you want to see where you stand first, that is free and it does not affect your score. see checking your credit score.

prefer to talk first

call 519-773-7132. sales is open until 7:00pm Monday to Wednesday, which is easier if you work days.