THE FINANCING PROCESS
We help you find a vehicle
Click the button below and we'll not only work to get you the credit you need, we'll help you find the right vehicle with the right features.
Get pre-approved online
Now that you've decided on a vehicle, we can get you pre-approved for it without having to bring you into a dealership. Get approved in your pj's!
No credit? No worries
We work with more than a dozen banks to secure the auto financing you need. But even if they deny you, we can still finance you-with our own money.
Pick your payment
Once you've been approved (either by a bank or Southtown Chrysler) we work with you to choose a payment that fits both your lifestyle and your budget.
HOW WE'VE APPROVED MORE THAN 300,000 PEOPLE
Bad Credit Car Loans
If you're facing challenges getting approved, Southtown Chrysler has solutions for almost every credit situation. Our financing tools and credit specialists will help you get back behind the wheel with affordable auto loans.
Southtown Chrysler offers convenient in-house financing solutions that will get you on the road fast. We report our loans monthly to the major credit rating suppliers in Canada so your creditors know you have a car loan in good standing.
Our Finance Partners
In addition, we also work with other world-class financial institutions to give our customers access to the best car financing rates and the widest variety of options.
OUR EXTENSIVE LIST OF LENDING INSTITUTIONS INCLUDES:
Alberta Treasury Branch
Bank of Montreal
First Calgary Savings
Scotia Dealer Advantage
Servus Credit Union
TD Canada Trust
OUR CAR LOAN SPECIALTIES
Our finance sources provide offers to accommodate most credit profiles. Even with past problems, you will still get the credit you need, the car you want, and the respect you deserve as a Southtown Chrysler customer.
Many Southtown Chrysler Customers qualify for financing on their very first purchase. Even if this is the first time you've bought a car, we can offer you a number of options.
Being the biggest auto group in Canada, we have the ability to set up our own financing solutions in order to help our customers get driving. You could say we set our own rules.
FINANCE VS LEASING: WHICH IS BETTER?
What are your goals? We all have different priorities -- in cars, life, and finances. When deciding on leasing vs. financing, what's right for one person can be totally wrong for another.
Generally, leasing offers lower monthly payments than financing, as well as the benefit of owning a new car every two or three years. However, financing offers its own set of advantages.
Luckily, we have a team of financial experts who are happy to help you find the best option for you. Call Southtown Chrysler at 780-490-3200 to book a free consultation.
Is leasing better for me?
To drive a new car every two or three years
Lower monthly payments
The latest safety features and a car always under warranty
You Don't Mind
Trading in or selling used cars privately
Building ownership equity
A stable, predictable lifestyle
An average number of miles to drive
No problem properly maintaining your car
If this sounds like you, then leasing may be the best option for your needs
Is financing better for me?
To build up trade-in or resale value (equity)
Complete ownership of your car
The feeling of being payment-free after paying off your loan
The freedom to customize your car
To drive your car for a long time
You Don't Mind
Unexpected repair costs after your warranty has expired
Higher monthly payments
To drive more-than-average miles
Possible lifestyle changes in the near future
If you prefer to own your vehicle outright, and plan to own for the long-term, then financing will be your best option
FINANCE VS LEASING: COST COMPARISON
For the same car, same price, same term, and same down payment, monthly lease payments will always be 30%-60% lower than loan payments. This is still true even when compared to 0% or low-interest loans.
The medium-term cost of leasing is about the same as the cost of financing, assuming the buyer sells or trades his or her vehicle at loan-end and the leaser returns his or her vehicle at lease-end.
Some comparisons sometimes show that financing can cost a little less than leasing due to fewer fees, lower total finance costs, and the assumption that a purchased vehicle will return full market value if it is sold or traded at the end of the loan. However, when the benefits of wisely investing monthly lease savings are considered, the net cost of leasing can be less than financing.
The long-term cost of leasing is always more than the cost of financing, assuming the buyer keeps his vehicle after loan-end. If a buyer keeps his car after the loan has been paid off, and drives it for many more years, the cost is spread over a longer term. That means the cost of buying one car and driving it for ten years is less expensive than leasing or buying four or five different cars over the same period.
If long-term financial cost savings were the most important objective in acquiring a new car, it would always be best to buy the car and drive it for as long as it survives, or until the cost of maintenance and repairs begins to exceed the cost of replacing it. However, many automotive consumers have other more immediate objectives that are more important than long-term cost savings.
WHAT SHOULD I BRING TO MY FINANCE APPOINTMENT?
All buyers should bring:
Valid government-issued drivers license
Depending on the specifics of your purchase, you may be required to bring additional information. For a complete list of what you’ll need to buy or trade in a vehicle with Go Auto, call the dealership ahead of time and speak with a Sales Consultant.
WILL I BE APPROVED
Four main factors determine whether you get approved for a car loan:
Vehicle selection—Cost, age, and mileage
Application information—Employment history, residence, and income
Credit history—Information contained in your credit file
Down payment—Total of cash and trade equity
For the best chance of approval, and the lowest monthly payment possible, try to select a vehicle that fits your budget. Also, provide as large of a down payment as you can.
HOW ARE MY CAR PAYMENTS CALCULATED?
Once you’re approved for a car loan, three factors will affect your monthly payment (in order of importance):
Term or length of contract
Annual Percentage Rate (APR)
We offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile. You can learn more about your personal finance options at any Go Auto dealership.
HOW DO I BUDGET FOR CAR PAYMENTS?
The rule of thumb from most financial institutions is to spend no more than 15% of your gross monthly income on your car payment.For example, if you make $2,000 a month you should spend no more than $300 on your car payment.
WHAT IS MY CREDIT SCORE?
Your credit score is a number that helps financial institutions predict the risk associated with your purchase of a car, house, credit card, etc. Typically, your credit score ranges from about 350 to 850, and is essentially meant to forecast how (and if) you will pay your bills. In general, the higher your credit score, the more likely you are to get approved for a car loan.
The systems that generate your credit score look at your credit report, and take several factors into account when determining your credit score, including, for instance, your payment history, and the number of inquiries made on your credit report.
HOW IS MY CREDIT SCORE CALCULATED?
Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the more likely you are to get approved for a car loan. The systems that generate your credit score look at your credit report and take several factors into account, including:
- The timeliness of your payments, including late payments
- The amount and type of debt you have
- The number and age of your credit accounts
- Inquiries created by applying for credit
- Public records such as liens and judgments
SHOULD I FINANCE OR LEASE?
Do you prefer to drive a new vehicle that will always be under warranty every few years? That’s one advantage of leasing. Do you prefer to build up equity and drive one car for a long time? Then consider financing.
There are all sorts of factors to consider when choosing between financing and leasing. Luckily, we have a team of finance experts who are Happy to Help you find the best option for you. Call (780) 777-7777 or any Go Auto dealership to schedule a free consultation.
CAN I QUALIFY FOR FINANCING ON MY FIRST VEHICLES?
Of course. Many Go Auto customers qualify for financing on their first vehicle purchase.
If a normal credit determination cannot be made based on your current credit history, you may still qualify for other programs, like those for recent college graduates.
Stipulations for college students vary by finance company. Check with a finance professional at any of our Go Auto dealerships for more information.