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Reliable and Easy Auto Financing in Coquitlam, BC
At Eagle Ridge Chevrolet, we deal with many different financial institutions directly related to the purchase or lease of your next new or used vehicle. Our experts work hard to get you the best rates, terms and payments in the industry. We know that buying a car is one of the biggest purchases you will ever make and that's why we make sure you get all the facts you need when deciding how you will pay for your car. Our job is to provide you all the necessary information to help you better understand the auto financing/lease process.
Our experienced finance managers will also guide you through the process of protecting your investment from unexpected repair costs as well as protecting your very important credit.
Why Finance a car at Eagle Ridge GM?
The Finance team at Eagle Ridge GM has served the people of Coquitlam, and surrounding areas for over 30 years. That has helped us build a team and financing process that's fast, competitive and tailored to the buyers in our community.
Getting pre-approved for a credit car loan is an easy process by following these simple steps:
- Fill out our quick and easy online pre-approval form.
- Within 24 business hours, our Finance Managers will contact you with the results of the pre-approval. Once you are qualified for a car loan, we will work with you to find the perfect vehicle for you!
- Complete the paperwork and take delivery of your new car, truck, mini-van, or SUV!
- An online credit application can be found by clicking the apply today drive tomorrow button or by clicking on the pre-approved section under the finance tab. Whether you choose to lease ot purchase a vehicle, with our pre-approval credit centre your credit application is short and simple!
- You can take steps right now to start rebuilding your credit. Our program pre-approves you for an auto loan from your home or office, taking the stress out of your decision! Driving is a necessity, don't let bad credit stop you.
YOU ASKED. WE ANSWERED.
Of Course! We have a quick and easy online application that you can use to apply online. APPLY NOW
Our secure credit application will ask for standard personal information such as your first name, last name, current address, and other contact information. You will also have to provide information regarding your housing status (rent or own), job, and source of income. Feel free to check out our credit application and get familiar with the process before submitting.
We have streamlined our application processing, so getting approved for a car loan is faster than ever before. Eagle Ridge GM can start working on your application within minutes of receiving it (within business hours), and most of our lender partners work just as fast. If a bank is taking longer than your schedule permits, our relationship allows us to move things along with a phone call to our rep.
We have two major credit reporting agencies, Equifax Canada and Transunion Canada, and they can both provide you with a copy of your credit report, which includes your credit score. You can also try our simple credit reporting tool on our site to get a general idea (your credit will not be affected.)
Credit scores are used to assist lenders in risk assessment when considering a loan application. Credit scores range from 300 to 850, with 720 being the general benchmark for “good” scores. Knowing your credit score before you apply can help you understand the type of loan you’re able to pursue. Factors that affect credit score include:
- Timeliness of payments
- Credit history length
- Type and amount of debts
- Your public records
Not a problem. "Bad" can have different interpretations and is more of an opinion than fact. We work with customers with all types of credit situations, including damaged or no credit, bankruptcy, consumer proposal, repossessions, missed or slow payments, and new immigrants. If you are worried about your credit status, contact our finance team. They will review your situation with you, find a car you will love, and build a plan for you to start rebuilding your credit.
A personal loan is a lump-sum loan for a large, one time purchase (such as a car.) Personal loans have a term and a designated interest rate. Debtors will make payments on a weekly, bi-weekly or monthly basis at an interest calculated based on the full loan amount.
A line of credit is used for ongoing purchases and may be secured against equity in an asset like your house. You are approved for a set amount from which you can withdraw at any time for any purchase, and you only pay interest on the amount used. Depending on whether the line of credit is secured or not, you are either required to pay only the interest each month, or pay a percentage of remaining balance as well. For example, if the payment requirement is 5% each month, you would be required to make a minimum payment of $500 on a $10,000 loan.
- A variable interest rate fluctuates with the prime rate.
- The bank has the right to withdraw money from your account to pay for your line of credit.
- Secured lines of credit use your home as collateral. Default of payment for any reason allows the bank to take your home.
- In the result of your death, or you become insolvent or bankrupt the bank may require the total balance of your line of credit paid in full.
- If the bank sees any increase in risk to the security they can demand full payment.
- Home insurance costs may be higher due to the additional line of credit.
The first step is to find out why. We can help review your application and the results from the lender, and point out areas that caused the denial so you can work on correcting them. We understand that rebuilding your credit isn't always a quick process, but it's never too late to plan for that. Depending on the lender with which you submitted your application, we may also be able to provide alternatives.
We are authorized representatives for GM Financial and more than five major banks and ten financial institutions, all competing for your business, such as:
- Bank of Nova Scotia - Royal Bank - Td Canada Trust - Bank of Montreal
- Various Credit Unions
- VFC - Auto Capital Canada - iA Auto Finance - CarFinco
- General Bank Of Canada
- GM Financial
We offer many different Finance and Insurance products to help protect your investment. We will tailor a vehicle's service plan to meet your driving needs, thus protecting you from unexpected repair bills for worry free driving. Certain exterior and interior protection packages can save you money on unwanted excess wear and tear, specially when leasing a vehicle.