Today we’re going to take a quick look at debt-servicing. Debt servicing is a fancy way of saying ‘affordability’. Affordability is a key part of the approval process for banks. Oftentimes, debt servicing is the reason for an application getting approved or declined....
What is a cosigner? A cosigner is someone that signs the loan contract with you to strengthen your application. By signing the contract they are equally responsible for maintaining the loan. That means if you miss a payment, it will be reported to your credit bureau...
Rates Are Always Changing Auto finance terms and interest rates are always changing. The banks update their rates at the beginning of each month to reflect the current economic climate. Manufacturers also follow this practice, updating their rates and incentives at...
Car loan finance terms How long you can finance a car for depends primarily on two factors: the age of the vehicle the kilometers on the vehicle For new cars the shorter the term you choose the better interest rate you will get. For used cars there’s a little more to...
Guaranteed asset protection (GAP) insurance is a very underrated protection available to you when you finance a vehicle through a dealership. It can save you thousands of dollars in the event that your car gets written off by your auto insurance company. You do not...
Warranties are not free. They increase your base car payment typically by about $1 per day in most cases. The average person can afford to set aside $1 each day and not have a negative impact on their finances or their daily lives. However, it is much more difficult...
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