Need An Auto Loan? written on the roadWhen you are looking for a Buick Car in Thunder Bay and you want to buy one from your new Buick Car Dealer, but you need financing in Canada, where do you begin and what are your options?  As it turns out, you may have several different ones.  “There are a number of options available to customers looking to secure used car financing in Canada. Two primary choices are available: either finance your used vehicle through a car dealership, or obtain financing through a bank.”  These options are really the same ones available to you in the US as well.  And, don’t forget, you can always pay cash if that is an option for you.  If it isn’t, then you may want to consider holding off until you can pay for your new Buick Cars up front as to save on interest and other fees associated with borrowing someone else’s money.

Before you begin, according to the experts and on behalf of your Thunder Bay Buick Car Auto Loans in Canada, you will be wise to know your budget.  By setting a max that you want to spend, you will keep your purchase at a level that works for you and your expenses and income.  In most cases, you can find an online car credit calculator to figure out an approximate payment based on the cost of the Buick Cars you are looking to buy.  This will help you know the rate you can shoot for as well, if you plan to finance with a car loan.

“When financing a vehicle, most major lending institutions recommend that you don’t exceed 15% of your gross monthly income for car loan payments. For example, if you have a monthly gross income of $2,000 then your car payment should be no more than $300.”  There are many people who do not take this advice.  Depending on how your other expenses line up, you may be able to figure these numbers a little differently.  However, when applying for  a car loan in Canada, your expenses and income will be figured into the amount with which you can get approved for you next new or used Buick Car.