FAQs
Where does Online Auto get their vehicles?
Shop Online Auto has nation wide access with certified dealers, so whether you choose a new or pre-owned vehicle, you’ll be rest assured that’s it’s properly inspected, and running great. You tell us what you want and our access to our network of dealers will almost fully guarantee that you get what you’re looking for, with the best price and possible rates for your loan.
What if i have bad/no credit?
Online Auto and it’s specialists look beyond just your credit score and employment to get the most in depth look at your current financial situation, because we want know any and everything that will help you get your loan. For instance, some financial institutions may not approve of your loan while others will. Because of our extensive affiliations with 16+ financial institutions we are able to utilize every possible and potential avenue of financing and maximize your approval chances, whether you have bad, no, or good credit.
What can i finance?
Everything from cars, trucks, SUVs, ATVs, snowmobiles, side-by-sides, RV’s, boats and almost everything else with a motor that moves. Because of our extensive national connections, we are able to acquire whatever, wherever.
How much should my car payment be?
When car shopping the rule of thumb is typically the 20/4/10 rule, meaning 20% down payment, 4 year term, and 10% of your total monthly income. However, financial experts suggest that your car payment should not exceed 20% of your total monthly income. The 20% accounts for the total payment, oil changes, insurance and maintenance.
What questions are asked when financing a car?
Things we need are Identification card/Government photo ID (eg. E.I. Drivers License, birth certificate, status card, passport) proof of minimum income of $1750 and that you have been working for at least 3 months. We require this information because it’s needed to tailor and source the best financial options moving forward with your auto loan. If we didn’t grab this information we wouldn’t be able to get an idea of what institution would work best for you or even know if you can get approved or not.
What do dealerships/banks look at when financing?
Things we need are Identification card/Government photo ID (eg. E.I. Drivers License, birth certificate, status card, passport) proof of minimum income of $1750 and that you have been working for at least 3 months. We require this information because it’s needed to tailor and source the best financial options moving forward with your auto loan. If we didn’t grab this information we wouldn’t be able to get an idea of what institution would work best for you or even know if you can get approved or not. your total monthly income. The 20% accounts for the total payment, oil changes, insurance and maintenance.
How long does it take from applying, to delivery of my new vehicle?
You could have your new vehicle by the end of the day if the application goes smoothly and local inventory is available, but depending on what you want and need, it can take longer. We understand this is big financial decision, but we are diligent and thorough on delivering our customers exactly what they want and need, and with the best possible rate and loan.
What if the vehicle i want isn't available locally?
Online Auto has access to a nationwide network of dealers, so we can almost fully guarantee that we can find exactly what you’re looking for, but we don’t get your vehicle from any Joe Schmo. We make sure it comes from a dealer and that there has been Certified Inspections, a detailed vehicle/maintenance history. hassle and problem free.
Is it better to finance through a dealership or a bank?
Depending on your credit score, current promotions, rebates or sales events, can fluctuate the best avenue to go down. For example, some car brands will offer low interest rates and cash rebates if you get their vehicle. They design these sales programs especially for people with sub-prime credit but when you apply we find all that out for you because we present all the best options for our applicants.
Does financing build credit, or does it hurt my credit?
Financing a vehicle that suits yourself and is financially appropriate can be a great way to build credit. Making consistent, punctual payments will increase your credit score, so it can be a great opportunity to prove that you’re capable of reliably paying your debts. This can open the doors for bigger loans down the road, and as result, increase the chances of being offered better rates and bigger loans. Online Auto tries its best to ensure that the loan you get is nothing but affordable so we can be as as much help as possible for your credit to have positive increases.
What happens if a car loan is not approved?
There are many reasons why a bank or a financial institution may decline your loan, but it could be as simple as an application error. Most of the time it is because of your financial situation regarding credit score, outstanding debt, or not enough credit history. But this is why at Online Auto we work with over 16 different financial institutions. For instance, each institution offers unique benefits to each and everyone’s financial situation, ranging from bankruptcy to a perfect 900 credit score. We understand there’s no one-size-fits-all approach when it comes to financing a vehicle, so that’s why we tailor a loan based on your unique financial situation.
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Contact Us
- 204-970-1009
- 611 Corydon Avenue
- sales@shoponlineauto.ca