Finance your Toyota today!
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Our online calculator can help you find the best solution for your finances and lifestyle.
Choose your payment
Prior to pursuing financing, it's important to be aware that your credit score may have an impact on the interest rate you qualify for. We suggest verifying your credit status beforehand through our service, which can provide a soft credit score check without affecting it. Our financing options cater to a broad range of credit scenarios.
Advantages of Langley Toyota financing
At Langley Toyota, we are dedicated to assisting customers in all financial circumstances to obtain a payment plan that best works for their requirements. Regardless of whether you opt to finance, lease, or pay with a certified check or bank draft, we will work with you to secure the most advantageous financing terms possible.
Certain car buyers, particularly young people, may not possess a credit record, a down payment, or a trade-in vehicle. But we can still help you buy a vehicle. Our connection with Canada's principal banks means we can provide adaptable financing or leasing possibilities personalized to your individual circumstances, even if you lack a credit history or an initial payment. Rest assured, we have your back!
Bad or no credit
If you have a bad credit score, have been refused a bank loan, or have declared bankruptcy - Langley Toyota has financing solutions that can help you get a vehicle. Our financing specialists are committed to getting affordable solutions that fit your budget, even in challenging credit situations.
Newcomers to Canada
If you are new to Canada, you may not know that your credit score from your previous country doesn't carry over. However, you can still get approved for a loan to purchase your first car in Canada. Our team has experience working with newcomers to Canada, and we can help you navigate the process to get you the financing you need.
High rate on an existing loan
If you have a loan at the moment and think you're paying too much, we might be able to help you find something better. As part of the Go Auto family, we can buy out your existing loan and offer you a better finance rate and lower monthly payments. We'll help you save money while still getting the vehicle you need. Contact us today to explore options and begin refinancing your loan.
What do I need to
Employment & income
To be eligible for financing, there are some broad criteria that you need to satisfy, such as holding a job for a minimum of three months at your current workplace and receiving a monthly income of at least $1,800. However, we realize that each individual's circumstances are distinct, and we acknowledge other forms of revenue, such as particular types of government assistance. Please get in touch with us to learn more about our financing possibilities and determine your eligibility.
A down payment is not always needed, but it can help. By putting money down upfront, you are reducing the amount that you need to finance. This can make you a more attractive candidate to lenders and increase the likelihood of getting approved for a car loan. We know not everyone has the means to make a down payment, but we can work with you and explore your options and find a financing solution that fits.. Contact us to learn more about our financing process.
You need a valid driver’s license and be the age of majority in the province that you live in.
To complete your loan documents, please supply your current address details, including your monthly rent or mortgage payment.
Lenders want to be able to take your loan payment directly from your bank account each month. Please bring a void cheque or stamped pre-authorized payment form.
Please provide your full name, date of birth, phone number and email address to apply for a car loan.
Paying off your Langley Toyota car loan
Paying off your loan early
If you are currently fulfilling payments on a car loan, you may be eligible to settle the remaining balance after a specific period. Several banks authorize borrowers to complete early repayment, usually after six months of regular payments. We suggest reaching out to your bank to learn about their policy on early repayment. Alternatively, our financing professionals are available to guide you in comprehending your alternatives and securing an optimal solution. Please do not hesitate to contact us for further information.
Changes to payments
Most lenders let borrowers make lump-sum payments or increase their regular payments, which can help pay off the loan sooner and potentially save you money on interest charges. Our financing specialists can work with you to explore these options and find a solution that fits your financial goals. Alternatively, you can contact your lender directly to ask about their policy on extra payments.
Extending a loan term
Once you have secured a car loan, the terms of the financial agreement are typically fixed and cannot be extended. However, it's always a good idea to confirm this with your lender or speak to our finance specialists to explore your options. Depending on your lender's policies and your specific situation, it may be possible to extend the loan agreement in certain circumstances. Contact us or your lender to learn more about your options.
Car loan insurance
Many people may not be aware that they can also insure their car loans. This type of insurance is valuable in case of unforeseen circumstances such as job loss or illness, which could make it difficult to keep up with regular loan payments. If you want to more about this type of insurance, Langley Toyota can give you with more information and help you find the right coverage for your needs.
Don't worry If you have a low income. We can help you get the car you need! Normally, you need to earn a minimum of $1,800 a month from income, a pension, or government assistance to be able to qualify for a loan.
Switching a loan to another vehicle
If you want to change your vehicle but are currently paying off a car loan, there's no need to worry. We're here to help you with that. Our team can guide you in selecting your next vehicle, closing your existing loan, and incorporating any outstanding balance into a loan. Feel free to contact us to obtain further information regarding our loan payoff and vehicle upgrade possibilities.
How long does it take Toyota finance to approve a loan application?
Approval is usually fast, especially if you have a good credit score and the correct documents with you. Each lender has a unique approval process. Some lenders take a few hours or a couple of days to approve a loan.
Is the pre-approval a hard query of my credit rating?
No need to worry. Pre-approval is a soft query and won't impact your credit rating.
Could I be declined after approval?
It's possible, but it doesn't happen often. If there's an issue with a credit check or your documents, you could be declined after approval.
Is it better to pay car payment twice a month?
Making payments on time is important to maintain a good credit score. But paying once or twice a month won't affect your credit score, as long as payments are on time. Be sure that your payment schedule fits your budget and avoid late payments.
How much should you put down on a car?
Making a substantial down payment can assist in reducing your monthly payments. However, every lender has their own prerequisites for down payments. A few lenders may want no down payment at all. Consider your options with our financing experts to ger the best strategy for you.