Finance Department

Bad Credit Car Loans

If you're facing challenges getting approved, Southtown Chrysler has solutions for almost every credit situation. Our financing tools and credit specialists will help you get back behind the wheel with affordable auto loans.

In-House Financing

Southtown Chrysler offers convenient in-house financing solutions that will get you on the road fast. We report our loans monthly to the major credit rating suppliers in Canada so your creditors know you have a car loan in good standing.

Our Finance Partners

In addition, we also work with other world-class financial institutions to give our customers access to the best car financing rates and the widest variety of options.

No Credit

Bad Credit

Our finance sources provide offers to accommodate most credit profiles. Even with past problems, you will still get the credit you need, the car you want, and the respect you deserve as a Southtown Chrysler customer.

First-Time Buyer

Many Southtown Chrysler Customers qualify for financing on their very first purchase. Even if this is the first time you've bought a car, we can offer you a number of options.

Financing Benefits

Being the biggest auto group in Canada, we have the ability to set up our own financing solutions in order to help our customers get driving. You could say we set our own rules.

Is leasing better for me?

You Want

To drive a new car every two or three years

Lower monthly payments

The latest safety features and a car always under warranty

You Don't Mind

Trading in or selling used cars privately

Building ownership equity

You Have

A stable, predictable lifestyle

An average number of miles to drive

No problem properly maintaining your car

If this sounds like you, then leasing may be the best option for your needs

Is financing better for me?

You Want

To build up trade-in or resale value (equity)

Complete ownership of your car

The feeling of being payment-free after paying off your loan

The freedom to customize your car

To drive your car for a long time

You Don't Mind

Unexpected repair costs after your warranty has expired

Higher monthly payments

You Have

To drive more-than-average miles

Possible lifestyle changes in the near future

If you prefer to own your vehicle outright, and plan to own for the long-term, then financing will be your best option

For the same car, same price, same term, and same down payment, monthly lease payments will always be 30%-60% lower than loan payments. This is still true even when compared to 0% or low-interest loans.

The medium-term cost of leasing is about the same as the cost of financing, assuming the buyer sells or trades his or her vehicle at loan-end and the leaser returns his or her vehicle at lease-end.

Some comparisons sometimes show that financing can cost a little less than leasing due to fewer fees, lower total finance costs, and the assumption that a purchased vehicle will return full market value if it is sold or traded at the end of the loan. However, when the benefits of wisely investing monthly lease savings are considered, the net cost of leasing can be less than financing.

The long-term cost of leasing is always more than the cost of financing, assuming the buyer keeps his vehicle after loan-end. If a buyer keeps his car after the loan has been paid off, and drives it for many more years, the cost is spread over a longer term. That means the cost of buying one car and driving it for ten years is less expensive than leasing or buying four or five different cars over the same period.

If long-term financial cost savings were the most important objective in acquiring a new car, it would always be best to buy the car and drive it for as long as it survives, or until the cost of maintenance and repairs begins to exceed the cost of replacing it. However, many automotive consumers have other more immediate objectives that are more important than long-term cost savings.