I went bankrupt and have (really) bad credit. Can I still get a car loan at LowestRates.ca?
Yes. The main purpose of our car loan service is to serve Canadians with bad credit or no credit. We will connect you with an Ajax dealership capable of processing your car loan application.
I just moved to Ajax from another country. Am I able to get a car loan?
Yes. We can get you a loan in Ajax or anywhere else in the Greater Toronto Area even if you have no Canadian credit score. The dealers in our network specialize in bad and no credit auto loans.
Can I get a car loan if I’m a new driver?
Of course. We work with all Ajax drivers, regardless of their driving experience.
What do I need to qualify for a car loan in Ajax?
You need to be employed and earn a minimum income of $1,500 per month. You also need to be 18 years or older, a resident of Canada, and have a valid driver’s license.
How much tax do I have to pay on a vehicle purchased in Ajax?
The Harmonized Sales Tax (HST) is 13% in Ajax (and the rest of Ontario). Remember to include this amount in your car-buying budget.
How does the length of my car loan affect my monthly payments?
Long car loans result in smaller monthly payments spread out over a greater duration of time. Short car loans do the exact opposite: your principal balance (plus interest) is divided into larger payments over a more compressed duration of time.
Check out the graph below to compare monthly payments on short and long car loans.
Monthly payments on a $9,000 car loan (at 8% interest)
|Length of car loan||Car loan payment|