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Can You Get a Car Loan While on EI in Canada?

blog:auto loan Archives | Northway Ford Lincoln

Can You Get a Car Loan While on EI in Canada?

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Life is full of unexpected twists and turns, and sometimes circumstances arise that require us to rely on Employment Insurance (EI) benefits to navigate through challenging times. However, just because you're on EI doesn't mean you have to put your dreams of owning a car on hold.   At Northway Ford, we believe that everyone […]

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96 Month Car Loans in Canada: Are They a Good Idea?

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If you live in Ontario and are looking to buy a new car, you may be aware of the 96-month auto loan option. Yes, 96 months—you read that right. That's a whopping eight years' worth of monthly car payments.   But before you jump at the chance to pay less each month, it's crucial to […]

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In-House Car Financing in Ontario: Get Pre-Approved Today

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It’s time for a customer question and while we have lots to choose from, one in particular caught our eye this week. It was ‘What is in-house financing and is it a good idea?’ As we have come across this question before, we thought we would ask our London car loan team to answer.   […]

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Can I Get a Car Loan With a New Job in Ontario?

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If you're looking to buy a car, but have just started a new job, you may be wondering whether you can get a car loan. While it can be more challenging to obtain a car loan with a new job, it is still possible.   Here's what you need to know about getting a car […]

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Independant Contractor Car Loans: Getting Approved

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You cannot beat being your own boss. If you can manage the extra responsibility and are a self-starter, being self-employed is an amazing way to earn a living.   There are complications though when it comes to auto loans as a contract worker. especially when it comes to accessing credit in Guelph. Even though contracting […]

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What’s an Upside Down Car Loan & How Do You Get Out of It?

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Nobody likes going upside down on a loan. It’s an uncomfortable feeling and even if you have no intention of selling your car in the near future, it’s not a position anyone wants to be in.   So what can you do about it? What's an Upside Down Car Loan?   Going upside down is […]

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Negative Equity on a Car Loan Explained in 2 Minutes

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What is negative equity? Is it the same as being upside down? How does it impact auto loans and can you avoid it? These are all questions fielded by our Brantford auto loan team this year alone so we thought the subject would make an excellent blog post.   Negative equity is most often used […]

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Self Employed Car Loans: How to Get Approved in No Time

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Being self-employed comes with a lot of benefits such as being your own boss and having a flexible schedule, but it also means that you may face some challenges when it comes to obtaining financing, including car loans.   However, being self-employed doesn’t necessarily mean that you can’t get a car loan. Here’s what you […]

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Car Loan Refinancing: How to Drive Down Your Payments

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Car loan refinancing is a common tactic to improve your finances or position in one way or another. Technically there isn't a single best time to refinance an auto loan. It isn’t a universal benefit and it won’t work in every situation but there are times when it makes perfect sense.   In this article, […]

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400 Credit Score Car Loans Are Still Possible: A Simple Guide

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The chances of you being able to get approved for a car loan with 400 credit score or less are very low unless you work with finance experts. The average Canadian has a credit score of 660, so you have some serious work to do if you want to qualify for competitive car loans. We […]

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