150 Deerhide Crescent, North York, ON, M9M2Y6
Dealership hours of operation
Mon - Fri 9:30am - 6:30pm
Sat 10:00am - 5:00pm
Sun closed
My Garage

Financing a Car with Bad Credit

Q: Is it possible to get financed for a car loan on a luxury vehicle if you have no credit?

A: Absolutely. We have a team of knowledgeable and experienced staff members that work in our finance centre and are able to to get our customers approved for a loan with various types of credit, including no credit history.

Q: What do I need to bring with me if I want to apply for a car loan?

A: When you come in to the dealership to apply for a loan, you will need to have your banking information, including chequing account information as well as your savings account information; you may also be asked to disclose any information about your current mortgage payments as well as any other loan that you currently have in your name. You will also need to list your current employer's name and your salary information in addition to your personal information, such as your legal name, street address, and your contact information.

For your convenience, we also have an online application available. By giving our financing team your information before you get to the dealership, you will save time and be able to just focus on picking out your dream car.

Q: When applying for a loan, do I need a co-buyer if I have bad credit?

A: The short answer is no, not necessarily. When you have a cosigner or co-buyer, you are able to use their good credit to help "boost" your overall credit score. This could essentially help you guarantee the loan or even get you better interest rates on your loan. However, our finance centre is able to work with customers who have all types of credit, so depending on your score, a cosigner may not be necessary.

Q: Is it true that if you have bad credit, you will have a higher monthly payment?

A: Having a lower credit score may affect your interest rate when it comes to applying for a loan. However, that is not the only factor to consider when it comes to monthly payments. The amount of money that you are able to put on a down payment in addition to how long your loan term is for are two other contributing factors that can help you to have a lower monthly payment.

Q: What is the best way to get financed with bad credit?

A: If you are wanting to apply for a loan with bad credit, do not get discouraged. There are many different financing options for you. Every person's situation and budget is different. The best way to find out what options are available to you is to contact our finance centre and let our friendly and knowledgeable staff help find the best financing solution for you and help you to turn your dream of owning a luxury vehicle into a reality.