Conventional loans typically require longer terms to achieve affordable payments.
This keeps you:
Conventional loans have obligations when you trade:
Leasing offers affordable payments with shorter terms.
Leasing allows you to:
If the vehicle is worth more than the residual value, you can:
If the vehicle is worth less than the residual value:
Usually, a minimum requirement of three months of employment and a monthly income of at least $1800 is necessary. Other sources of income such as specific forms of government assistance may also be considered.
A valid driver’s license and meeting the age of majority in your province of residence are both essential requirements. Lenders are aware that individuals who possess a legal license to drive are more likely to fulfill their car loan obligations.
To facilitate the monthly payment process, the lender prefers to withdraw the amount directly from your bank account. The most convenient method to set this up is to provide a void cheque or a stamped pre-authorized payment form.
While a down payment may not always be mandatory, it can be beneficial in many cases. The smaller the amount that needs to be financed, the higher the likelihood of obtaining approval for your car loan from the lender.
To finalize your loan agreement, it is necessary to provide the lender with your present address and address-related information, such as your monthly rent or mortgage payment.
To apply for a car loan, you must provide your complete name, date of birth, phone number, and email address.
You may pre-qualify by filling out our quick online car loan application. We provide financing options for individuals with all types of credit.
Trade in your old vehicle for a new one or sell it directly to Bannister for cash. You may receive a higher than market value offer.
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