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The unbridled truth about bad credit car loans in Ontario

The unbridled truth about bad credit car loans in Ontario

Today, our Paris auto loans team are going to take a deep dive into the Ontario automotive finance industry. By the time we reach the end, your eyes are going to be opened to the reality of electric car loans.

You will never look at auto financing the same way again!

Very competitive marketplace

While it may seem like the auto industry is not as exciting as crypto, which has pricing swings on a daily basis.

The auto industry is fiercely competitive, and the stakes have never been higher now that we are entering a post-pandemic reality.

Lenders are all fighting to increase the number of electric car loans in its portfolio.

The real estate market bubble is going to burst soon, so investors, both individual and institutional, are throwing huge sums of money into the auto financing industry.

The issue with this huge influx in capital is we have too much money chasing a finite number of potential deals

There is a limit to the number of new cars a person can buy at any given time, with the exception of Jay Leno, who has quite a vast collection of cars.

These lenders are trying to get market share, and the only way they can do that is by reaching out to the best source of car deals, namely dealerships.

Lenders are bending over backward to court dealerships with the sole intention of having the dealership send deals to that lender instead of their competitor.

While the ultimate winner of this competition is the consumer, you need to educate yourself on what steps you must take in order to gain leverage when buying a new car.

Knowing when to holdem and when to foldem

Kenny Rogers said it best; you need to know when to hold 'em and when to fold em.

If you have great credit and substantial income, then you can practically dictate the terms.

If your credit is borderline good and your income is modest, you can still get a good deal, but it boils down to the dealership and how strong is their poker face.

The dealership is working for you and trying to get you the best terms; if you work with a local dealership that originates a large number of new electric car loans, you benefit from the clout and leverage the dealership has with those lenders.

There are websites and advertisers all saying to apply online; it only takes a few minutes to get approved for an electric car loan.

Those sites are convenient, but you are not going to get a fair shake. IF you are serious about getting a car loan that is competitive based on your situation and top-tier customer support, the choice is clear; you need to work with a local dealership.

We will use all our skill and experience to deliver the lowest possible Paris auto loan rates, guaranteed. Contact Car Nation Canada Direct to learn how we can help.

Categories: Auto Loan

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