Get Approved for Winnipeg Vehicle Financing
Financing A New or Used Vehicle
Depending on which vehicle you choose, you may qualify for low financing rates. Even some used cars can have great low interest rates. After you have an idea of the vehicle you might want, let any of our enterprises at Prairie Auto Group find you the best rate available based on the vehicle, term and your credit score.
The Importance of Figuring Out What You Can Afford
Before you decide to finance a vehicle in Winnipeg, it is important to look at what you can really afford. As a general estimate, you don’t want to spend more than 20% of your monthly income on your vehicle, including insurance costs. This might seem high too, especially if you have a lot of other debts. Taking a look at how much your monthly payments and costs are, can give you a great idea of what your budget should be for your new vehicle.
Getting A Car Loan with Bad Credit
Your credit score is one of the major factors in getting a vehicle loan, lower credit scores usually mean a higher interest rate. But even with bad or no credit you can still qualify for a vehicle loan. At Prairie Auto Group, we work with people in all situations to find a car loan in Winnipeg. Don’t worry though, because even if you start with a higher rate, you can often refinance after. A vehicle loan is also one of the best ways to rebuild your credit.
Rebuilding Your Credit Through Vehicle Financing
Credit rebuilding can be tough, at Prairie Auto Group we understand that. Unexpected circumstances and missed payments can plummet your credit score and make it difficult to get another loan, job or move forward. After bankruptcy or other debt problems, it can seem like there is nowhere to go. But we are here to help, we work with a variety of lending institutions to find you financing that will fit your needs. Once you secure a loan, as you make payments on time and in full, you’ll watch your credit score rise. This is because 35% of your credit score is made up of payment history– the better your payment history, well the better your score. It’s as easy as that, especially with car loans in Winnipeg with Prairie Auto Group.
Winnipeg Vehicle Leasing VS Vehicle Financing
If you think that a vehicle loan seems like too long or too much money, then vehicle leasing in Winnipeg might be the option for you. With shorter term leases, you can change your vehicle every few years, trading it in for something better! A lot of the time leasing a vehicle in Winnipeg is at a low interest rate and allows you to change your vehicle more often. Vehicle leasing is like renting, you are responsible for all maintenance and costs though. When your term ends, you can start leasing something new, or pay out the remaining portion of the vehicle.
Prairie Auto Group is Here To Help!
No matter whether you’re considering financing or leasing in Winnipeg, Prairie Auto Group has you covered. We can answer all your questions and find a solution that fits you and your family’s budget. You can even start right now by filling out our convenient online credit application! Then you are on your way to vehicle financing in Winnipeg.