Author Archives for Rafael Peduti
Well, that depends on who’s asking! If you’ve got a good credit score (at least 650), you may qualify for a rate between 1% and 7% for a new car, depending on the make. For a pre-loved model from Laneway Auto Loans used car lot, you could be looking at 6% to 8%. But if your credit score isn’t so good, your interest rate could soar to over 45%. Averaged out across the market nationwide, interest rates on car loans in Canada generally hover around 7%.
Where Do I Find the Lowest Interest Rate in my Area?
Your next step is to check out auto financing interest rates in New Brunswick. The easiest source of financing is the dealership where you buy your car, cutting back on the time and paperwork needed to close the deal. This is also where you can bargain for extra perks (like undersealing, a set of snow tyres, or even [...]
Initially launched in 2007, all subsequent iterations of the Ford Edge have continued its success. This is due largely to the fact that this no-nonsense crossover SUV makes a lot of sense to many people.
After a 2015 upgrade, the 2019 model also got a facelift. Instantly recognisable through its smart, clean design, the 2019 Ford Edge SEL AWD is ageing elegantly, with some well-designed creasing and sculpting along its sides. Its high-gloss grille is an eye-catcher, framed by assertive air intakes on the lower front corners. All-led lighting adds a modern touch: Headlights, fog lights, daytime running lights, tail lights, and signal lights are strong and effective, but not dazzling.Sleek Interior with
Plenty of soft-touch plastics offer warmth and welcome, with loads of leg space, even in the rear. With room for five people, the seats are comfortable and can be reclined. For added relaxation, the FordPass Connect system [...]
No matter whether it’s new or pre-loved, buying a car is always an exciting time. However, it can also be stressful, as today’s decisions have financial effects that may extend way into the future. But there are ways of streamlining this process and lessening the risks. So let’s join the auto loan experts at Laneway Auto Loans and Sales and see what they have to say.
Exactly What Is an Auto Loan?
When you borrow money to buy a car, you’re signing up for what will probably be the second-largest commitment of your life, in terms of time and money. Car loans are secured, which means they are backed by collateral – the vehicle itself. Additionally, your personal credit score is used to measure your perceived ability to pay back your loan, which affects the amount of financing offered to you, and even how easy it is to get an offer.
Revived after a fourteen-year gap, the sophisticated 2019 Chevrolet Blazer 3LT AWD barely recalls its rough and ready predecessor. On the Laneway Auto Loans and Sales used car lot, this two-row, five-passenger crossover slots in seamlessly between the more compact Equinox and the three-role Traverse. Brimming with road presence that handles even the roughest routes in New Brunswick, its muscular sheet metal structure leans heavily on the distinctive lines of the Camaro, with a front grille inspired by the ZL. With its unibody construction ensuring a smooth ride, it’s also fuel-efficient, with excellent road handling, thanks to a smooth-shifting nine-speed automatic that always picks the perfect gear.
The Camaro of the SUV Category
Much more fun than its peers in the mid-size SUV category, it offers an occasional waft of its Camaro cousin, while sharing a platform with the GMC Acadia and Cadillac XT5. Regardless of its configuration, the crossover is a stable, [...]
It looks as though pressures on the Canadian vehicle market may start to ease up in 2023. As demand stabilises and inventory expands, prices could drop by up to 20% for pre-owned vehicles, and 5% for new models. This could also lead to cheaper auto financing in Atlantic Canada. However, with an economy still stumbling through the post-pandemic landscape, wise buyers are taking advice from the financial experts at Laneway Auto Loans and Sales and checking their finances before diving into a multi-year commitment like getting a car. Here are some pre-purchase points to ponder:
- make sure your job is stable, with enough financial headroom to pay off such a major investment, taking into account unpredictable factors such as inflation and interest rates that could eat into your monthly budget;
- check your credit score, as this is a major factor in the interest rates offered you by lenders, saving (or costing) you thousands of dollars [...]
You want to buy a car, and now you’re thinking about your credit score, right? You’re aware it’s important – but do you know exactly what a credit score is? As explained by the consultants at Laneway Auto Loans and Sales, this is a figure between 300 and 900 on the bottom line of a report on your financial track-record, calculated by authorised credit bureaus. When you apply for vehicle financing, these institutions measure your creditworthiness through five key factors (which are weighted differently) as percentages of your total score:
- 35% – Bill Payment History lists all your prompt and late payments, together with any debts currently under collection;
- 30% Credit Use shows how much of your credit you’re using, which should ideally be less than a third of your ceiling amount;
- 15% – Credit History, with a longer good record scoring higher, as this predicts your spending habits and repayment ability;
- 10% – Credit [...]
Famed for its focus on value, Hyundai continued its winning streak with its 2017 Accent, which continues largely unchanged since 2012. A great example of the brand’s strategy of providing high quality cars at affordable prices, this attractive sedan offers pleasant driving dynamics, with plenty of useful amenities. Launched in 2017, its new Value Edition trim included features like four-wheel disc brakes, 16-inch alloy wheels, and cruise control. Available as a five-door hatchback (SE and Sport models, with up to 47.5 cubic feet of cargo capacity) or a four-door sedan (base SE and Value Edition, with up to 13.7 cubic feet of trunk space), the sub- compact 2017 Hyundai Accent seats five passengers in comfort.
Under the Hood
Its 1.6L four-cylinder engine is also one of the few in its class with direct injection, helping it reach 138 hp and 123 lb-ft of torque. For urban driving, its suspension is more than adequate for [...]
There’s plenty of good news for car buyers in Halifax and nearby Provinces. As reputable dealers like Laneway Auto Loans and Sales grant auto loans at fixed rates in Canada, your monthly payments don’t increase in parallel to rising interest rates. Instead, all your fixed loan payments remain unchanged throughout their repayment periods. But (and there’s always a but…) if you decide to renegotiate or renew your fixed-rate auto loan, there’s a chance your monthly payments could be higher, if interest rates have risen since you closed the deal. That’s because interest rate hikes announced by the Bank of Canada are applicable nationwide, generally keeping pace with inflation.
Will my Auto Loan Repayments Go Up if Interest Rates Rise?
As prices soar across the board for services and goods, the purchasing power of the Canadian dollar shrinks, and higher interest rates are imposed to keep the nation’s economy running smoothly. Luckily, vehicle owners [...]
Sure you can! But it’s more complicated than selling a car you actually own – which is already a tricky and time-consuming task. There are plenty of good reasons why you might want to sell your car before the end of your loan term: your family has grown (or shrunk), so you need more (or less) seating room for passengers and storage room for stuff; you’re moving house and no longer need your own wheels; you got a raise (or took a pay cut), so you want to splurge or need to economise.Can I Sell My Financed Car by Myself?
You can certainly handle the entire process yourself. Or you can save yourself a lot of time and hassle by seeking guidance from the auto loan experts at Laneway Auto Loans and Sales. In their considerable experience, there are three ways of selling a financed car in Canada:
- A private sale means you’ll [...]