Finance Department

AUTO FINANCING MADE EASY. GET PRE-APPROVED ONLINE.

APPLY IN SECONDS

✓ WE’LL FINANCE YOU IF THE BANKS WON’T
✓ WE’LL RE-FINANCE YOU IF YOUR RATE IS TOO HIGH

THE FINANCING PROCESS

We help you find a vehicle

Click the button below and we’ll not only work to get you the credit you need, we’ll help you find the right vehicle with the right features.

Get pre-approved online

Now that you’ve decided on a vehicle, we can get you pre-approved for it without having to bring you into a dealership. Get approved in your pj’s!

No credit? No worries

We work with more than a dozen banks to secure the auto financing you need. But even if they deny you, we can still finance you-with our own money.

Pick your payment

Once you’ve been approved (either by a bank or Terrace Ford) we work with you to choose a payment that fits both your lifestyle and your budget.

GET PRE-APPROVED TODAY

Bad Credit Car Loans

If you’re facing challenges getting approved, Terrace Ford has solutions for almost every credit situation. Our financing tools and credit specialists will help you get back behind the wheel with affordable auto loans.

In-House Financing

Terrace Ford offers convenient in-house financing solutions that will get you on the road fast. We report our loans monthly to the major credit rating suppliers in Canada so your creditors know you have a car loan in good standing.

Our Finance Partners

In addition, we also work with other world-class financial institutions to give our customers access to the best car financing rates and the widest variety of options.

OUR EXTENSIVE LIST OF LENDING INSTITUTIONS INCLUDES:

Alberta Treasury Branch

Bank of Montreal

Bank West

Chrysler Financial

Carfinco

Ford Credit

FinancialLinx

First Calgary Savings

Royal Bank

Scotia Bank

Scotia Dealer Advantage

Servus Credit Union

TD Canada Trust

VFC

WS Leasing

Dominion Leasing

OUR CAR LOAN SPECIALTIES

No Credit

Buying a new car is a great way to establish a credit score, and Terrace Ford can help you get credit for the first time. Stop waiting and get on the road

Bad Credit

Our finance sources provide offers to accommodate most credit profiles. Even with past problems, you will still get the credit you need, the car you want, and the respect you deserve as a Terrace Ford customer.

First-Time Buyer

Many Terrace Ford Customers qualify for financing on their very first purchase. Even if this is the first time you’ve bought a car, we can offer you a number of options.

Financing Benefits

Being the biggest auto group in Canada, we have the ability to set up our own financing solutions in order to help our customers get driving. You could say we set our own rules.

FINANCE VS LEASING: WHICH IS BETTER?

What are your goals? We all have different priorities — in cars, life, and finances. When deciding on leasing vs. financing, what’s right for one person can be totally wrong for another.

Generally, leasing offers lower monthly payments than financing, as well as the benefit of owning a new car every two or three years. However, financing offers its own set of advantages.

Luckily, we have a team of financial experts who are happy to help you find the best option for you. Call Terrace Ford at 905-632-6252 to book a free consultation.

FINANCE VS LEASING: COST COMPARISON

For the same car, same price, same term, and same down payment, monthly lease payments will always be 30%-60% lower than loan payments. This is still true even when compared to 0% or low-interest loans.

The medium-term cost of leasing is about the same as the cost of financing, assuming the buyer sells or trades his or her vehicle at loan-end and the leaser returns his or her vehicle at lease-end.

Some comparisons sometimes show that financing can cost a little less than leasing due to fewer fees, lower total finance costs, and the assumption that a purchased vehicle will return full market value if it is sold or traded at the end of the loan. However, when the benefits of wisely investing monthly lease savings are considered, the net cost of leasing can be less than financing.

The long-term cost of leasing is always more than the cost of financing, assuming the buyer keeps his vehicle after loan-end. If a buyer keeps his car after the loan has been paid off, and drives it for many more years, the cost is spread over a longer term. That means the cost of buying one car and driving it for ten years is less expensive than leasing or buying four or five different cars over the same period.

If long-term financial cost savings were the most important objective in acquiring a new car, it would always be best to buy the car and drive it for as long as it survives, or until the cost of maintenance and repairs begins to exceed the cost of replacing it. However, many automotive consumers have other more immediate objectives that are more important than long-term cost savings.

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