Financing a Car: 101

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Often times, financing a car may sound as a complicated process but in fact it isn’t. Financing a car has a lot of benefits and in fact some experts say that it is better to finance a car rather than buying it outright for cash. In this blog post we break it down and explain why financing a car is a better option.

Financing VS Cash Buy
  • When financing a car, you have the option of tailoring the monthly payments in a way that suit your lifestyle the best. Financing allows you to break down a huge lump sum of payment into much smaller monthly payments. This allows you to free up money for other things, be it gifts for your kids or your college tuition.
  • Financing a car can help improve your credit, in fact it is one of the best ways to improve your credit quickly. The way this works is, loans such as automotive or RRSP loans are preferred by banks over credit card payments or other revolving accounts. This helps increase your credit score at a faster rate than other revolving accounts.
  • Saving up for that dream car of yours? Finance a regular car to get by and then let us buy your car back as you work your way up the credit score and are eligible to finally buy your dream car.

It is true, that we at Legacy Auto, guarantee financing to everyone; even if you have bad credit or no credit. It’s quite simple to apply for financing your next car, simply head on to our financing page in the top menu or click the button below, fill the form and that’s it. Yes, it is as simple as that.