FAQ Dealers

FREQUENTLY ASKED QUESTIONS

 

  • What are your rates? We handle all types of credit. Therefore, the rates start at the lowest fixed rates (ex. 5.99%) to 29.99%. The customer pays the appropriate rate for their individual situation.
  • What model years do we finance? We can finance any model year of vehicle. If the vehicle is more than 10 years old, the interest rate is higher. 
  • What types of vehicles can be finance? We finance any passenger vehicles, plus light-duty commercial vehicles. 
  • Do we finance anything other than cars and trucks? Yes, we finance leisure and recreation products such as: Motorcycles, ATVs, personal watercraft, snowmobiles, recreational vehicles (RVs), trailers, etc.
  • What are your fees? Our fees range from $499 to $999.
  • Are you brokers? We use our own money and also outsource. We find the best home for each customer.
  • Do I need to sign a contract? No. No dealer agreement has to be signed. 
  • Do I have to pay for the program? No. There is not cost for the dealer.
  • Do you talk to the customer? We make an introductory call in order to get the customers’ consent, and ask basic questions such as, do they receive paystubs from their workplace.
  • Can we sell our own warranties? Yes, sell anything you want. You will be paid as long as the customers’ credit qualifies.
  • Do you have kilometer restrictions? There are no restrictions for prime customers. Non-prime customers we usually restrict the vehicles at 185,000 km.
  • What about accident claims? No restrictions for prime customers. Deep sub-prime is usually restricted to $5000 in Carproof claims.
  • When do I get paid? Before the vehicle is delivered.
  • Where does the customer sign? Our office is in Toronto, however, our agents can meet the customer wherever it is convenient for them.
  • Are the customers able to paid the loan at any time without penalties? All our loans are open, the customer is able to paid any amount of the loan, in part or in whole at any time without penalties. For example, if the customer pays the loan in full in 1 month they will pay only 1 month of interest.
  • Alternatively, we can offer leases (for commercial vehicles in most cases) these leases can be paid at any time, but not partial payments are allowed. They can only be paid out in full.