Understanding how auto financing works is known to be confusing and stressful, but it doesn’t have to be.
Before a headache comes on, let us explain to you how you can get a car loan even if you have bad or low credit. Payments for a car loan are calculated using three components: principal, term and interest rates.
The principal is the total cost of a vehicle including any fees Trillium Auto Group may have for the car loan and any other add-ons you choose.
The term is the length of time that payments will be made for. Shorter and longer terms are available. If you’re thinking “can I get a car loan with bad credit?” the answer is yes. Once your term is finished, your credit will improve. That’s a guarantee from us.
Interest rates are the percentage that Trillium Auto Group is charging you to borrow money. Interest rates depend on the make & model of the car you’re purchasing and your credit score.
Are you looking for cars for sale in Toronto? At Trillium Auto Group, we provide automotive financing services to people of all credit scores across Canada. Apply for your loan today and join the list of Trillium Auto Group happy customers.