Shawn Ryder

JANUARY 22, 2025

When considering purchasing a used car in Ontario, Canada, one major financial aspect to be aware of is the Annual Percentage Rate (APR) you might encounter when financing your purchase. In Canada, lenders are legally required to disclose the APR, allowing consumers to better compare financing options from various providers.

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Shawn Ryder

JANUARY 18, 2025

In this blog post, we will explore the intricacies of automotive financing, including how interest is determined, what factors influence the rates, and how manufacturers and dealerships play a role in this process. Lenders may see borrowers who make substantial down payments as lower risk, leading to better financing terms.

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Shawn Ryder

FEBRUARY 14, 2024

These can include cash rebates, low Annual Percentage Rate (APR) financing, lease specials, and other promotional offers. Low APR Financing: Special financing rates below standard market rates to make financing more attractive and affordable for buyers.

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AutoRaptor

APRIL 5, 2024

Furthermore, it’s vital to take into account your customer’s down payment capacity. A substantial down payment not only reduces the total loan amount but also signifies a higher level of commitment from the buyer. When discussing interest rates and APR, simplify the explanation.

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Shawn Ryder

JANUARY 25, 2025

Down Payment: A substantial down payment can lower your monthly payments and the overall interest paid over the loans term. Questions to Ask Your Lender When negotiating financing, consider asking your lender these important questions: What is the APR of the loan? Are there any fees associated with the loan?

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Shawn Ryder

JANUARY 17, 2025

When it comes to the world of automotive finance, many car dealership professionals often find themselves inundated with a myriad of questions regarding financing options. They may encounter terms and concepts like APR (Annual Percentage Rate), credit scores, down payments, and loan terms, which can be confusing.

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Shawn Ryder

JANUARY 20, 2025

Down Payment A larger down payment reduces the amount you need to finance, which can lower monthly payments and potentially lead to better loan terms. A general rule of thumb is the 20-4-10 rule20% down, financing for no more than four years, and monthly payments should not exceed 10% of your gross income.

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