Secure the Lowest Used Car Loan Rates in Toronto

At Good Fellow’s Auto Wholesalers, we strive to provide our clients with the best car loans so that everyone can find affordable options for driving.

Since a vehicle is likely to be one of the biggest investments a person will make, making smart choices regarding its purchase is critical. To find options that are within your budget, choose to work with our dealership. Our team is known to be one of the most friendly and knowledgeable teams of people that you will meet in the industry. If you are unable to purchase a vehicle outright, allow our department of finance to guide you through the options you have available. Whether you seek a good or Bad Credit Car Loan, allow our team to find you the best rates possible.

Used Car Loan Application -Toronto, Ontario

How Financing Works

Whether you are looking for a used car, truck, electric vehicle, or SUV, our dealership in Toronto has solutions that can help you lower upfront costs by creating manageable payments to be paid throughout an agreed-upon term. To finance means to obtain lending where you can borrow money from a lender for a specific amount of time or “term” that you agree to pay it back in. Until the term ends, payments are usually scheduled weekly, bi-weekly, or monthly until the advance is paid back. Allow our dealership to work with you to find you a solution that can spread your vehicle’s expense over a period of time.

To help you shop within budget, our team has created a Payment Calculator that you can use to determine an approximate figure regarding how much your payments might be. This feature will help you compare payment options so that you can make the best decision for your situation.

Loan Calculator

This tool will help you estimate what your payments will be. Please note that the interest rates shown are for demonstration purposes only. Good Fellows Auto Wholesalers cannot guarantee this rate.

Finance Lease
Down Payment
Estimated Residual
Balance to Finance/Lease
Term (months)
Interest Rate
*estimated for demonstration purposes

The Advantages of Car Loans

Obtaining this form of money management is often an appealing option for buyers as it offers several benefits. Some of these include the following.

  • Manageable Payments. Select an amount of time (the term) to repay the borrowed amount in a manner that fits your budget.
  • Preserved Savings. Instead of choosing to purchase the vehicle outright, you can keep cash on hand to help with living expenses or emergencies.
  • Improved Credit Score. Making payments on time and in full can signal lenders that you are a responsible borrower.

Apply With Us

When you choose to work with our team, we provide a simple, fast, and secure service. With our online application form only taking a few minutes, you can submit your information securely and efficiently with the comfort of knowing our team will not harm your credit score by shopping your information to other parties. Once we have received your application, our in-house team will work to get you approved as quickly as possible. Once approved, you can start driving in your selected vehicle. With us, you can enjoy flexible payment options as well as the ability to manage your affairs at any time. No matter what your credit score is, good, bad, or Bankrupt, allow our team the chance to get you approved.

client applying for auto loan

Count On Us

With our low rates and flexible terms, our team at Good Fellow’s Auto Wholesalers is confident that we can make it easy for you to drive away in the vehicle of your dreams at affordable terms. With our knowledge, experience, and expertise, we make this process as easy as possible for all of our clients. Choose to purchase a used vehicle to avoid new cars depreciated value, and allow our team to set you up in a similar model with the same advanced technology and safety features. With a large inventory and an easy application process for those with any credit, we can’t wait to help you along this journey.

To ensure a smooth and enjoyable experience, choose to work with our team for the following reasons.

  • Expert Financial Advisors. Deal with real people who can understand your situation and provide you with feasible solutions.
  • Competitive Rates. Allow us to save you money by providing you with low interest rates and terms that fit your budget.
  • Exceptional Customer Service. Happy clients are our mission. With a customer-centric approach, feel confident with our friendly and supportive associates.
  • Extensive Inventory. With many available vehicles, our team can match you with selections from our inventory that meet your preferences and needs.

Frequently Asked Questions

Should I Know My Credit Score?

Knowing your credit score is important when submitting an application as understanding your score helps you identify your position and helps you to better understand the terms you have been provided with. Further, tracking your score allows you to monitor your progress in improving it as every bill you pay can influence and impact your credit score.

An improved score can result in lower interest rates and quicker approval. There are significant differences between a poor score and an average score. Therefore, it’s important to know your credit score to secure better terms.

How Long Do Terms Typically Last?

In the past, terms typically lasted about five years. However, trends suggest that customers now prefer lower monthly payments over shorter payment periods As a result, it can be difficult to provide an exact range for the duration, as each situation is tailored to the customer’s needs. One advantage of this flexibility is that it can accommodate a variety of situations.

Can I Get Approved if I Have Bad Credit or No Credit?

When it comes to purchasing a used car in Toronto, our dealership understands that not every applicant has a perfect credit history. For this reason, we make it our mission to provide options to those with any credit. Allow our team to work closely with you to support you in securing the approval you need to purchase a used vehicle. With extensive experience in these situations, our team is confident that we can find a solution that suits your circumstances. To get the best possible terms, contact our team to discuss your options.

What Information Do I Need to Apply?

While the application process is generally a straightforward process, to ensure a smooth process, it’s best to have a few key pieces of information ready:

  • Proof of Income (Pay stubs, bank statements, etc.)
  • Proof of Residence (Official home document, lease agreement, etc.)
  • A Valid Driver’s License (Or another form of government-issued ID)
  • Down Payment (If applicable)
  • Trade-In Information (All vehicle trade-in details required)

Having these documents ready can help speed up the process. To ensure you have everything you need, contact our team before coming into our dealership.

How Much of a Down Payment Is Required?

While the required down payment can vary case to case, our dealership can provide a general estimate. Typically, the amount depends on factors such as vehicle price and credit score, but a common range is 10-20% of the vehicle’s purchase price. Our experts understand that every situation is unique, so we offer flexible options to accommodate various budgets and needs. A larger down payment is always recommended as it can reduce the overall payment and help qualify for a better interest rate.

Can I Pay off My Loan Balance Early?

When situations change, one may find themselves in a situation where they can pay off their auto loan ahead of schedule. While there is no straightforward answer to this question, our experts would recommend that you carefully review your agreement to understand if any penalties or fees will apply. If not, you may be able to save the cost of future interest and achieve freedom sooner. To help you navigate this process, our team is available to advise the best course of action.

What Should I Do if I Have Questions After Purchasing my Vehicle?

Our customer service extends beyond the day of purchase. Whether you have questions before, during, or after, our team of experts would be happy to assist you. Start by contacting our dealership, and our team would be happy to answer all of the questions and inquiries you have. Whether you wish to inquire about interest rates or changes in your situation, allow our team to guide you through these challenges.

Auto Loan Application

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Apply for a Used Car Financing

Need help filling out your auto loan application? One of our helpful sales associates would be happy to go through this with you.

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