Author Archives: Timothy Gonzalez

The Advantages and Disadvantages of Car Financing


Are you stuck and can’t decide whether you should finance your next car purchase? Needless to say if you can afford a straight full payment for a new or used vehicle then why not. However this is not true for most people and in fact more people choose to apply for a loan simply because they don’t have the cash or maybe they have other important financial obligations that also needs to be paid.

Moreover, people don’t know about the fact that there are a lot of options for them when it comes to car financing. Even consumers with poor credit or those with credit issues (i.e. bankruptcy) can still avail of an auto loan.

In order to help you decide, we are going to discuss the pros and cons of auto financing.


  • Monthly Payments with Interest

Obviously in car financing, whether a new or used car, there will be monthly payments and interest payments. To add, cars are expensive therefore one should be prepared of such financial obligations. The main downside to auto financing is the monthly payment obligations that come with added interest.

Every situation is unique and depending on your financial state, the interest may be high or low. Lenders add interest because of the risk that they are taking with you as a borrower. Whether they see you as a high risk or moderate-risk debtor will largely depend on your credit rating.


  • Go home with your Own Car

This is what car financing is all about – to provide you with a car that you need. Of course saving up money and then purchase a car would still yield the same result but the downside is saving up money could take years until you can afford to buy a car. Additionally, you might end up just settling with a car that you can afford but don’t really like. With car financing, it is more likely that you will achieve the car that you have yearned for.

  •  Build and Fix your Credit

If you have a poor credit or no credit at all, applying for a car loan is the best and easiest way to establish good credit. How? By making on-time monthly payments and successfully settling your loan, you can significantly improve your credit rating. By doing this, you will have a strong chance of securing another approval when you decide to buy another vehicle. To add, because of your good credit it is likely that you will not only get instant approval, you might also enjoy low interest rate offers on your next loan.

  •  Having the Car that You Want

With car financing, you don’t have to wait and save the amount of money required for your target car. More importantly, auto loans offer a lot of financing options for you to choose from. It is worth noting that if you decide to apply for a car loan, you have a wider array of vehicles to choose from and most of all, you get to go home with the car that you really love. To sum it up, the pros clearly outweigh the cons.

Tips for Researching A Vehicle

Woman Sitting In Kitchen Using Laptop with Blank Screen. Screen can be easily used for your own message or picture using the included clipping path.

Doing a considerable amount of research before making a purchase is always wise. But the question is are you doing it the right way? Are you looking for the right stuff online and is your source credible? While searching online makes it easier, personally checking a car and doing it the old-fashioned way is still the surest way to do research. Looking for a vehicle is a process and can take a little bit of time.

Below are a few tips to consider before making a purchase.

You Already Know More than You Realize

Casual browsing the internet or even reading some free brochures about a car’s engine, safety features and other specs is already considered doing research. You just don’t realize it. When taking a ride with your family or friends and making an opinion about the car’s power, speed and comfort is another sign that you are knowledgeable enough. All you need to do is use these information and apply them when you are looking for the right car.

Online Research might Not be Enough

Doing your research online is easier and it is very likely that you will find a more comprehensive review about a certain vehicle. Information such as size of the engine, fuel efficiency, maintenance costs and other vital specs are readily available online.

However, you also need to make sure that your looking at credible sources. The safest way to do this is to go directly to an automobile manufacturer’s site and acquire necessary information about the car you are gunning for.

After spending a great deal of time surfing the web, doing an actual  test drive is still the most reliable way of checking a car’s performance and reliability.

Visiting your Dealer

Online search is indeed helpful but visiting a dealer directly and checking out a car up-close and personal is still the best way of doing research. The “feel” of the car is the deciding factor.  Always ask for a test drive so that you will have an idea about the smoothness of the ride, its handles and other added features that is designed to impress. Besides, this way you can actually test a variety of car prospects so you will not miss out anything.

Buying a car is a serious and personal decision. You need to be patient and meticulous in checking out a prospective car. To add, it helps to make a preliminary list of cars so that your search is narrowed down to a fewer number of vehicles. From this list, do a comparison and slowly make your way to the final car that suits your preference.

Looking for a dealer? New Car Canada is at your disposal.

Top Ultimate Luxury Crossovers/SUV’s of 2016

Who wants something super luxury? Who doesn’t want something that looks absolutely amazing and will definitely get you luxury on the inside? Well these vehicles are extremely high luxury and they are vehicles you’re not going to want to miss looking at (though no one is really going to be able to afford them in a regular lifetime. But these vehicles are the best of the best out there and if you could afford them … well you’re going to absolutely love driving them everywhere you go.

Bentley Bentayga

The Bentley Bentayga is super luxury and it looks like it from the outside all the way in. This car gets very low gas mileage (only 10-18 miles per hour) but it looks just like it is, elegant. The twin turbo engine means that you get 600 horsepower and you can get this thing from 0 to 60 in 3.5 seconds flat. The inside is made with leather, and not just any leather but super soft leather that makes you feel amazing when you slide behind the wheel. You’ll also have no problem with the size on the inside, with up to five seats. You’ll even be able to get diesel and hybrid options at some point in the future because the company is working on it. Of course, you’re going to pay a fortune for this vehicle, but when you get behind the wheel you’re definitely going to understand why.

Mercedes-AMG G63

The other option is the Mercedes-AMG G63 and G65, which is definitely an interesting vehicle. It has a unique style that’s almost paying homage to the old Model T vehicles with its shape, but it definitely makes a difference. This vehicle offers twin-turbo engines and over 600 horsepower to go along with it in the upgraded version. You’re also going to love sliding behind the wheel because it has absolutely everything you’re looking for. On the inside you get luxury styling, high tech features and everything you could possibly think would be inside a car in this day and age and then some. Your entire family is going to adore this car, if you can get together the money it’s going to take to afford it, which most of us definitely aren’t.

These vehicles are definitely out of the price range for just about everyone, but that doesn’t mean that you’re going to have to miss out entirely on a luxury vehicle. It just means you’re going to need to look a little harder and you’ll be able to find the car of your dreams. Take a few minutes to fill out this application and you’ll be ready to do it for yourself, and you’ll be able to get driving in no time at all.

The Importance of a Large Down Payment in Toronto

car loanHave you been looking at getting a new car in Toronto but aren’t sure about getting the money you need? Well the best thing you can do to afford your new car is to make sure that you can get a loan. The problem is that you need to ask several different questions when it comes to that car loan as well. The first of which is what can you afford, but even after that you need to know a little about your down payment options and how much you should be paying.

Many dealerships and even loan providers will give you a large loan without having to pay a large down payment. In fact, some of them may even let you pay little to nothing as a down payment. If you don’t have a lot of extra money that could seem like a good option, but it’s actually not as good as you might think because there’s a whole lot more involved. In fact, the less you pay for your down payment the more you’re going to pay overall when it comes to your payments and interest amount. That doesn’t sound like a good way to save you money in the long run.

downpaymentIf you have a little bit of extra money, above the amount that’s required for your down payment, you’re actually going to be better off in the long run. Think about this. If you’re going to buy a vehicle that’s $10,000 and you finance the entire $10,000 you have to divide that amount between all of your monthly payments and add interest on the entire thing. On the other hand, if you want a $10,000 vehicle and you put a down payment of $1,000 you are only financing $9,000 and only paying interest on $9,000. That can save you quite a bit.

So maybe you want to rethink how much money you really want to put down. You’ll be able to pay the loan off over a shorter amount of time and you won’t be paying as much money over and above what the vehicle is actually worth. It’s going to help you out greatly because you’ll be able to save over the long term instead of only saving money in the short term (on the actual down payment process for your vehicle).

If you’re able to make a larger payment or even a moderate down payment you’re definitely going to appreciate it later on. So make sure you’re looking closely at your finances and figuring out just how much you can afford to put down. Your loan could be a little better than you might think if you put even a little extra money into your down payment. If you don’t have your loan set up quite yet make sure you find out more about what it’s going to take for you to get the bad credit car loans Toronto that you need for the car your family deserves. You’ll be able to save some money in the process.