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665 Goddard Avenue N.E., Calgary, AB, T2K 6K1
Mon - Thu 8:30am - 9:00pm
Fri - Sat 8:30am - 6:00pm
Sun closed
Mon - Fri 7:00am - 5:30pm
Sat 8:30am - 4:00pm
Sun closed
Mon - Fri 7:30am - 5:30pm
Sat 8:30am - 4:00pm
Sun closed
Mon - Fri 7:30am - 5:30pm
Sat - Sun Closed

Get Approved for Low-Interest Auto Loan in Calgary

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Get Approved for Low-Interest Auto Loan in Calgary

Buying a vehicle is definitely an exciting step in life. Whether it's your first or last auto you're buying, it represents a new venture in life. Having a new ride can be purely functional for you--it gets you where you need to go. Or it can be a work-related, providing you a work vehicle for hauling supplies to and fro. For others, a new ride may be as much a status symbol as it is anything else. Whatever the case may be, getting the best auto loans with low-interest rates, will ensure you get the vehicle you want with the lowest monthly payment. So how can you get approved for an auto loan with low-interest rates in Calgary, Alberta? Check out these tips below.

 

Steps to Getting Approved for Low-Interest Auto Loan in Calgary

 

Having a loan approved for auto financing in Calgary is not difficult. However, you don't want to just settle for any loan approval, because you may not get the best terms. It's essential to make sure you get low rates for your auto loan. When you secure an auto loan in Calgary with low-interest rates, then you benefit in the following ways:

 

How to get Low interest rates on auto loans in Calgary

 

  • You will be able to get a higher-priced car and still keep the payment doable
  • You will have a lower payment
  • You can decrease the amount of time you'll pay on the auto without increasing your monthly payment that much
  • You save money!

 

Any of these reasons are great ones to ensure you can secure a lower interest rate on an auto loan. When lenders assess what type of interest rate to give you, they look at a few different things such as:

 

  1. Credit history

 

The lender will run a credit check to determine your score and history. If your score is low, don't worry. That's not the only factor that goes into determining your interest rate. They will look at why your credit score is low. If there are negative things on your report, then that may impact it some; it depends on the exact nature of the information. If you already know there is incorrect data on your report, now is a good time to dispute that information and get your credit report fixed.

 

  1. Debt-to-income ratio

 

Lenders like to know that you have the means to repay the loan. That's why they will look at how much debt you currently have as opposed to how much your income is. They don't want you to be over your head in bills trying to pay for a vehicle. On the other hand, as long as your debt-to-income is around 40% or less, then lenders are usually happy. It's especially helpful if you have a down payment.

 

  1. Find the right lender

 

A good lender makes all the difference. When purchasing your vehicle, you should work with someone who is established and experienced. An auto place that works with several different lenders will be able to offer you the best car loans in Calgary because they have more options.

 

Now that you're ready to find that perfect dream vehicle, stop by Varsity Chrysler, Dodge, Jeep, Ram, and we'll get you the best auto financing rates around!

Get a Free No-Obligation Auto Finance Quote

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Introduction
As a valued customer, we want to ensure that your private information is kept private and only shared with those companies that are authorized by yourself or that are allowed or required by law. This document explains our privacy policy, gives you reasons why we ask for the type of information we do, and if we do reserve a right to share information with non-affiliated third parties, lets you "opt-out" of our reservation to do so. Please take a moment to read this entire policy.

Collection of Information
The purchase of a motor vehicle requires considerable accumulation of non-public personal information. For example, if we sell or lease you a vehicle—extending credit to you at your request—we will receive information from you in order to determine your creditworthiness. We may also obtain information from a credit reporting agency. We may also obtain information from third parties such as employers, references and insurance companies.

Some of the information we obtain from you may be required by provincial or federal agencies, such as the Department of Motor Vehicles or the Canada Revenue Agency. This information may be required even if you were to pay cash for your vehicle. Examples would be a driver's license or social security number.

Protecting Your Information
We safeguard nonpublic personal information according to established industry standards and procedures. We maintain physical and electronic safeguards that comply with provincial and federal law. We restrict access to non-public personal information about you to those employees and outside contractors who need to know the information to provide goods or services to you. We prohibit our employees and agents from giving information about you to anyone in a manner that would violate any applicable law or our privacy policy.

Information Sharing
Unless we have indicated our desire to share your non-public personal information with non-affiliated third parties (by checking the box in the section below), we share information:

A) For everyday business purposes, such as to process transactions, maintain account(s), to respond to court orders and legal investigations, or to report to credit bureaus.

B) For the purposes of processing a sale or lease transaction at your request or authorization, such as submitting information to third party financial institutions that may be requested to take an assignment of the contract, or verifying insurance coverage information.

C) When using outside service providers to help us provide you with products and services. Before providing information to our service providers, we enter into contractual agreements prohibiting them from disclosing or using the information other than for the purpose for which it was disclosed.

D) With "Affiliated" companies. Companies that are affiliated with us include any company that controls us, any company that we control, or any company under common control with us.
I am interested in purchasing or leasing a vehicle and request that my Consumer Credit Report be obtained, at no cost to me, in order to help determine the types and extent of financing which may be available to me.

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