PRE-QUALIFY FOR FINANCING
At Mertin Hyundai, our experienced finance team will work with you to help make sure you get the affordable auto loan you deserve. If you have had credit challenges in the past we also have a specialized credit team that will get you approved with the payment you can afford.
Some of our financial partners include:
Frequently Asked Financing Questions
All buyers should bring:
- Valid government-issued driver's license
- Current paystub
- Void cheque
- Contact a Sales Consultant for a complete list of what you’ll need to buy or trade in a vehicle.
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—a total of cash and trade equity
Tip: For the best chance of approval, and the lowest monthly payment possible, try to select a vehicle that fits your budget and provide as large of a down payment as you can.
On approval, three factors will affect your monthly payment (in order of importance)
- Amount financed
- Term or length of the 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 Bannister Automotive Group dealership.
Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the lower the risk. 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
- Do you prefer to drive a new vehicle every few years that will always be under warranty? 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 us to schedule a free consultation.
- You can also learn more at our financing vs leasing page.
- Many Bannister Ford 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 the finance company. Check with a finance professional at our dealership for more information.