Finance FAQs

Let's talk financing. It might not be the flashiest part of buying a car, but at DriveNation, serving Saskatoon, Prince Albert, and Regina, Saskatchewan, we're here to make it a little easier and a lot more empowering.

You've got questions, and we've got answers. These finance FAQs are designed to help you feel prepared, informed, and maybe even a bit excited about the process. Let's dive in.

Can I Finance with Less-Than-Perfect Credit?

Absolutely. Even if your credit history has some bumps, there are ways to secure a car loan--and even use it as a tool to improve your credit over time. Think of those monthly payments as small steps toward a brighter financial future.

Looking to boost your credit score? Here are some practical tips:

Pay your bills on time, it's a small habit with a big payoff.
Keep your credit card balances low. A good rule of thumb? Use less than 30% of your limit.
Be mindful of opening new accounts. Less hard inquiries can expedite your progress.

Need a little extra help? A co-signer might be the solution. This trusted ally--someone with a strong credit history--can give your application a boost and potentially open the door to better terms. At our finance center, we'll explore every option to make sure you're set up for success.

How Can I Best Prepare for Financing?

Getting ready for financing is all about taking control of the process. A great starting point is applying for pre-approval online--something you can do anywhere, at any time. This quick step gives you a clear idea of your financing power, so you can shop with confidence.

Want to crunch some numbers? Our car loan calculator is a handy tool. Adjust things like down payments, loan terms, and vehicle rates to see how it all fits. It provides you with a sneak preview of your potential monthly payments.

Still have questions? Our team is here to help. Whether it's over the phone, online, or in person, we're ready to walk you through your options and help you make decisions that feel right for you. The more prepared you are, the closer you'll be to your next ride.

Can I Use My Current Vehicle's Value in Financing My Next One?

You sure can. Trading in your current vehicle is like giving it one last job: helping you pay for your next one. It's simple, efficient, and satisfying.

Here's how it works: Bring your vehicle to our used car dealership for an evaluation. Our team will assess its value based on factors like condition, age, and market trends. Once you've got your trade-in value, it can go straight toward your next purchase.

This approach is especially handy if you're looking to upgrade without the complexities of selling your car privately. We make the process straightforward, so you can focus on picking out your next set of wheels.

Finance FAQs: Ready to Start Your Financing Process?

At DriveNation near Saskatoon, Prince Albert, and Regina, SK, we're here to make financing feel less like a chore and more like a step toward something exciting. From helping drivers with unique credit situations to providing tools that put you in charge, our team is ready to assist.

Have questions? We've got answers. Contact our team, and let's chat about your options.

Frequently Asked Financing Questions

Yes! If you've been paying an existing high-interest auto loan on time, DriveNation can often reduce your interest rate to make your vehicle more affordable. If you come back to DriveNation after fully repaying an auto loan, we can guarantee you an even better interest rate on your next purchase.

Yes! We work with our lending partners to offer open loans. You can pay out your used auto loan whenever you like with no fees or penalties. If you want to trade in your vehicle for a different one and have made all of your payments on time, we guarantee you will get an even lower finance rate!

That's a question we'll be asking you! To make it as easy as possible, we'll let you choose when you want to pay your loan. Bi-weekly, semi-monthly or monthly, we'll set up payments in the way that makes sense for you.

No! Every day, DriveNation helps its customers build or rebuild their credit by financing used vehicles with no money down. When you let us work for you to get financing, we work with our lending partners to get you a vehicle you can afford with no money down necessary. *In some very rare cases we will require trade equity, or a down payment if no trade equity is available.What's a co-signer? Do I need one?

What's a co-signer? Do I need one?

A co-signer, or co-applicant, is someone who applies for a loan with you. Even though having a co-signer can help get you a better finance rate, they're not usually required to get you approved for credit. The DriveNation team will work hard to get you the best rate with or without a co-signer, and will fully explain what co-signing means for both you and your co-signer if you choose to have one.Can I finance a car with no credit?Can I finance a car with no credit?

Yes! One of the best ways to establish credit is with a car loan. DriveNation specializes in getting people approved for their first no-credit loan at the best rate possible.

If you've had an auto loan repossessed or even completely written off, we can help you. DriveNation can get you approved at a competitive rate even if you have a repo on your credit report.

If you're struggling with credit card payments or if you're past due on any of your other loans, DriveNation can get you approved for vehicle financing. Even if you've been facing calls from collection agencies, we can help. We deal with every kind of credit situation and pride ourselves on having the expert knowledge required to get you approved and driving -- no matter what.