Do You Have Questions About Vehicle Financing?
We are here to help! You deserve to feel secure and comfortable with your next investment in a new or used vehicle. At Mainland Ford, we make sure that you receive all the information necessary to make an informed decision about auto loans — regardless of your credit history.
The Mainland Ford Financial Team
The Mainland Ford finance team will work with you to provide transparent and useful information about your car loan options, vehicle payment options, and all warranties and programs. It is our mission that every Mainland Ford customer can feel confident that you are getting the most affordable auto loan available. Our financial team examines your credit situation and develops a plan with you to that meets your needs without exceeding your budget.
When buying a new or used vehicle, there are lots of great choices to select the right vehicle that suit your lifestyle and budget. Why should paying for your vehicle be any different?
There are plenty of different payment options for your vehicle that are designed to suit your financial lifestyle and budget. Some of the different payment options available are:
- A vehicle loan or lease from our Mainland Ford Lending Centre
- A vehicle loan arranged with your own bank or credit union
- A line of credit from your bank
- Cash from your savings or investments
What are the benefits to financing through the Mainland Ford Lending Centre?
1. We’re part of the Trotman Auto Group
As members of the Trotman Auto Group family, Mainland Ford is capable of offering financing programs that many dealerships simply can’t match. The Trotman Auto Group has established partnerships with numerous Canadian banks, including Scotiabank, TD Bank, Bank of Montreal, Royal Bank, and many others. Our connections with these banks allow our dealership to provide convenient and speedy automotive loans to all of our customers. Our Financial Service managers even have the authority to draw up the vehicle loan agreements on behalf of the chartered bank, meaning you’ll never even have to visit a bank branch to get a great deal on your next car.
2. Convenience of one-stop shopping
You can purchase or lease your vehicle and finance it all under one roof. Since the Mainland Ford Lending Centre is open when the dealership is open, you can arrange your financing in the evening when your bank or credit union is usually closed. You simply sign the vehicle loan agreement when you pick up your new vehicle.
3. Open Agreements
Unlike many loans, our vehicle loans are Conditional Sale Agreements (C.S.A.). These loans can be paid into or paid off at any time without interest penalties. This allows you the option of paying off your loan faster than the payment schedule.
4. Low Interest Rates
As we have a large volume of vehicle loan business, our Dealer Plan chartered bank partners pass onto our customers lower interest rates than available through the branches.
5. Fixed and Variable Interest Rates Available
Mainland Ford allows you to choose between fixed and variable interest rates when financing your vehicle. A variable interest rate (also known as a floating or fluctuating rate) means that the interest rate can go up or down during the term of your loan agreement. A fixed interest rate means that the interest rate stays the same (locked in) for the term that you choose. But the benefit of a variable interest rate is that they are often lower than fixed interest rates.
Many customers that may want to use their line of credit choose our variable interest rates instead in order to keep their line of credit available for other purchases or opportunities.
6. Flexible Down Payments or Zero Money Down
Our Financing Centre allows you to put as little or as much of a down payment as you choose toward your vehicle loan. You can even choose to put $0 down and finance 100% of the vehicle and taxes.
7. Mainland Ford Offers Special Programs
Mainland Ford offers several special programs to our customers. Some examples include:
- The new to Canada program – the Start Right Program through Scotiabank that is designed specifically for you.
- The Graduate Rebate Program – this plan allows recent college graduates to qualify for a new vehicle loan with only a small down payment and no co-signer.
8. Tailored Loan and Lease Packages
Mainland Ford offers loan and lease packages that are tailored to your lifestyle. Here are just some of the choices you can make on your next purchase:
- Choose fixed or variable interest rates
- Finance your vehicle for up to 96 months to keep your payments manageable
- Choose monthly or bi-weekly payments
- Choose your monthly payment date
- Defer your payments
- Opt for a Future Value Loan (this allows you to make payments on a portion of the vehicle purchase price and then allows you to pay off the balance at the end of the term)
9. Available Loan Protection
Most people who have a home mortgage have it protected with life and/or disability insurance. Mainland Ford offers the same coverage for your vehicle loan, which is often your second largest asset. Life insurance pays the remaining loan or lease of your vehicle, in the event of the unthinkable. Disability insurance covers your vehicle payments if you are ill or injured and unable to work and your regular job.
10. New Source of Credit
By financing through our Mainland Ford Lending Centre you establish a new source of credit. Having several relationships with different lending institutions is important as it allows you to shop and compare financial services in the future. Having several relationships also makes it easier to attain more credit (as opposed to consistently asking one bank for all your money needs). A simple example; It is easier to get a Visa card with a $1,000 credit limit as well as a MasterCard with a $1,000 limit as opposed to just a Visa card with a $2,000 limit. It is easier to accumulate more credit by spreading it around.
11. Speedy Approvals
Once a credit application is completed, Mainland Ford is often able to secure an approval within minutes. Our sophisticated technology allows us to get your application to our lending partners as quickly as possible, enabling a quick turn-around.
12. Knowledge and Broker Representation
Our Financial Services Managers are skilled vehicle lending specialists. Our team is able to provide customers with in-depth knowledge of vehicle financing and accurate answers to their questions and concerns. Additionally, our Financial Services Managers are specifically trained assertively seek out an approval. If you have difficulty in qualifying for a vehicle loan because of age, time on the job, time at residence, payment affordability, or poor credit history, a professional Financial Services Manager representing your application for credit may dramatically improve the chances for a favourable loan approval.
13. Bad Credit Car Loans
At Mainland Ford, your credit situation doesn’t matter. Our financial team will work with you to get the service you need. In fact, financing your vehicle through Mainland Ford allows you to establish a new source of credit, making it easier for you to obtain credit from other sources. So what are you waiting for?