PERSONAL AUTO LOANS
Let M Financial make paying for your new or pre-owned vehicle a easier with a comfortable bi-weekly or monthly payment that fits your budget
WHY TAKE ADVANTAGE OF AN AUTO LOAN?
When it comes to buying a new or pre-owned vehicle it is a good idea to consider what type of payment method is best suited for you.
All auto loans in Canada are open ended which means the consumer has the option to pay it out early at any time or to put down a lump sum of any amount throughout the term, thus decreasing the term of the loan and saving themselves on interest. An auto loan is considered instalment credit, not revolving credit (like a line of credit or credit card) and can help you build a solid credit score.
Similar to an auto loan, leasing provides the consumer with the ability to pay for their vehicle over a period of time rather than upfront. Another benefit of leasing is that only pay tax on the monthly lease payments, not the entire cost of the vehicle. Leases are often a shorter term commitment and can be beneficial to those who appreciate flexibility.
There are many factors to consider when buying a new vehicle so we encourage you to weigh the pros and cons of all options. If you have any questions, we are more than happy to help!