Toyota Dealership in Winnipeg, MB
Open Today! Sales: 9am-9pm | Call us at: (204) 269-1572
At our dealership, we want to help you make an informed decision about your auto loan. Often, customers will look to a Line of Credit with a lower posted interest rate to finance their vehicle or pay off their car loan early. Before you do this, here are a few points to consider!
Why choose an Auto Loan over using your Line of credit?
Your auto loan is a separate credit facility in place of the sole purposes of financing your vehicle. A line of credit can be used for any number of things. When you use your Line of credit to pay for a vehicle, you restrict the availability of credit for other purposes, especially emergencies.
Your vehicle is the only security our lenders have. If you choose to put your vehicle on a line of credit, it may be wrapped up in a bundle of collateral. This may even include your home! Do you want to put your home at risk for a vehicle?
If you use your Line of Credit for multiple expenses, you may never really know what you owe on your vehicle. You may still wind up with a large outstanding balance after five years on a car that is now worth far less than what you still owe.
The Crown Advantage
- Our lenders do not restrict how often or how much you wish to place against your loan to help pay it off faster.
- Flexible terms and conditions interest rates – Competitive interest rates and terms, often much better than what you can get at your bank!
- Convenience – same day delivery available
- Customer Service – responsive and personable