Toyota Financing and Leasing in South Calgary, AB
Welcome to Macleod Trail Toyota‘s Finance Centre, your auto loan and car lease resource. All types of credit, from good to bad, can qualify for an auto loan. Even if you have no credit, we are here to help. We will work with you to secure a no credit car loan if your situation demands it. Throughout the years Macleod Trail Toyota has built strong relationships with reputable finance companies, and is committed to finding you the perfect car loan to suit your needs.
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Financing your Toyota
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Use our online calculator to find the best option for your situation.
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Your credit score has an impact on your interest rate. Check your status with no impact on your score! We offer financing options for all credit situations.
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Benefits of
Macleod Trail Toyota financing
Whatever your situation, we’ll get you the right monthly payments. Pay for your vehicle by borrowing, leasing, or with cash in the form of a certified cheque or bank draft.
First-time buyer
Some car buyers, including young people, don’t have a credit history, a down-payment, or a vehicle to trade-in. Don’t worry! We work with Canada’s big banks and we’ll get you flexible financing or leasing options.
Bad or no credit
A bad credit score, refused a bank loan, or bankrupt? Our solutions cover all kinds of credit situations. Our financing specialists can get you an affordable solution that suits your budget.
Newcomers to Canada
When you move to Canada, you may not realize that your credit score doesn’t move with you. The good news is that we can still qualify you for a loan, and you’ll soon be driving away with your first car in Canada!
High rate on an existing loan
If you have an existing loan and think you’re paying too much, we can help. Our parent company, Go Auto, can buy out what you owe and get you a better finance rate and lower payment.
Employment & income
Typically, you need to be at your current job for three or more months and make at least $1,800/month. Other forms of income (certain types of government assistance) may also be accepted.
Down payment
Although a down payment isn’t always necessary, it will often help. The less you have to finance, the more likely the lender will be to approve your car loan.
Driver’s license
It is necessary to have a valid driver’s license and be the age of majority in the province that you live in.
Current address
To complete your loan documents, you must provide the lender with your current address details, including your monthly rent or mortgage payment.
Bank account
Lenders want to be able to take the payment out of your bank account each month. The easiest way to do this is to get a void cheque or stamped pre-authorized payment form.
Contact details
You will be required to provide your full name, date of birth, phone number and email address to apply for a car loan.
Financing Options: various are available for all vehicle brands which include traditional financing through Toyota Financial Services (TFS), which offers competitive interest rates and flexible terms.
Macleod Trail Toyota In-House Lease Option We provide Macleod Trail Toyota Special Leasing Programs for New and Pre-Owned Toyotas or other makes.
Refinancing option you can explore options through (TFS), third-party lenders or financial institutions. These options allow you to replace your existing loan with a new loan that may have better terms, such as lower interest rates or extended repayment periods.
- You can even choose to refinance and unlock equity you may have in your current vehicle and take cash back.
- It’s important to note that the availability and specific details of these options can vary on the specific vehicle you are interested in. To obtain accurate and up-to-date information, it’s recommended to contact us for details.
Extended Warranty options provides additional coverage for all vehicle brands beyond the standard warranty. These plans can vary in terms of coverage duration and components covered, so it’s essential to review the specific details.
Vehicle Protection Options:
- Glass protection programs
- 4 Way Protection (undercoat, rust, paint, interior)
- Tire and Rim Hazard Protection
- Deluxe PPF
- Macleod Trail Toyota Only Worry-Free program includes a lifetime powertrain warranty
Check out our online car loan calculator for an instant car loan rate. Then, proceed to our online finance application.
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What You Need to Know About Your Loan Rate
At Macleod Trail Toyota, we work with trusted lending partners to offer competitive auto loan rates tailored to your financial profile.
Current interest rates for used vehicles range from 7.99% to 10.99% (Prime Rate Based)
What Affects Your Auto Loan Rate?
Several key factors determine your personalized rate:
- Vehicle type & age | Newer vehicles often qualify for lower rates than used ones. Luxury or specialty vehicles may also have different terms.
- Credit History | Your credit score and payment history play a big role. Higher scores typically unlock better rates.
- Down Payment Amount | A larger down payment can lower both your interest rate and your monthly payment.
- Loan Term | Shorter loan terms generally come with lower rates compared to longer ones.
- Income & Existing Debt | Lenders consider your income and financial obligations when assessing your rate and eligibility.
Important to Remember:
- Rates vary from customer to customer – even for the same vehicle.
- We partner with multiple lenders to help you get the most favorable terms available.
- You’re not alone – our experienced finance team is here to guide you through every step.
Get the new Go Auto App
Download the Go Auto App to start earning Go Card rewards today!
Paying off your loan early
If you are currently making payments on a car loan, you may be able to pay off the remaining balance after a certain period of time has passed. Many banks allow borrowers to do this, typically after six months of making regular payments. We recommend contacting your bank to inquire about their policy on early repayment. Alternatively, our financing specialists can also assist you in understanding your options and finding a solution that works best for you. Contact us to learn more.
Changes to payments
If you presently have a car loan and want to pay it off more quickly or decrease the amount of interest you are paying, there are alternatives available to you. Numerous lenders permit borrowers to make lump-sum payments or increase their regular payments, which can assist in paying off the loan faster and potentially save you money on interest charges. Our financing professionals can work with you to explore these possibilities and find a solution that meets your financial objectives. Alternatively, you can contact your lender directly to learn about their policy on extra payments.
Extending a loan term
After securing a car loan, the terms of the financial agreement are generally fixed and cannot be extended. However, it is always a good idea to confirm this with your lender or speak to our finance professionals to explore your alternatives. Depending on your lender's policies and your specific situation, it may be possible to extend the loan agreement in particular circumstances. Contact us or your lender to discover more about your options.
Car loan insurance
Car loan insurance is a lesser-known type of protection for drivers that can be highly beneficial in the event of unexpected situations such as job loss or illness, which can make it difficult to keep up with regular loan payments. This type of insurance can be highly valuable, especially for those who rely on their vehicle to get to work. If you're interested in learning more about car loan insurance, our team at Macleod Trail Toyota can provide you with more information and help you find the right coverage to fit your specific needs.
Affordable financing
We understand that everyone's financial situation is unique, and we work with a variety of lenders who offer financing solutions for individuals with lower incomes. While there may be some general requirements, such as having stable employment, we can explore various financing options to find a solution that fits your budget and needs.
Switching a loan to another vehicle
It's important to keep in mind that when combining your existing loan into your new financing agreement, the total amount you owe will increase. This means that you may end up paying more interest over time. However, our financing specialists can work with you to find a solution that fits your budget and financial goals. Don't hesitate to contact us for more information or to get started on upgrading your vehicle.
Getting a Macleod Trail Toyota car loan and managing it
How long does it take Toyota finance to approve a loan application?
The time it takes for car loan approval can vary depending on the lender and the specific situation. Some lenders may require more documentation or have stricter criteria, which could prolong the approval process. However, if all the necessary information and documents are in order, some lenders may be able to provide approval in a matter of minutes. It's always best to consult with your lender or speak with a financing specialist to get a better understanding of the expected timeline.
Is the pre-approval a hard query of my credit rating?
No, pre-approval is a soft query and does not affect your credit rating.
Could I be declined after approval?
Sometimes, but not very often. It can happen if there's a problem with a credit check or your documents.
Is it better to pay car payment twice a month?
Making on-time payments is crucial to maintaining a good credit score. Your payment history accounts for a significant portion of your credit score, so consistently making payments on time is one of the best ways to establish and maintain good credit. It's also important to note that making multiple payments throughout the month or on a more frequent schedule won't necessarily improve your credit score, but it can help you stay on top of your finances and avoid missing payments.
How much should you put down on a car?
While providing a larger down payment can help lower monthly payments and potentially decrease the interest rate on your car loan, it's not always necessary. Our financing specialists can work with you to find a financing solution that fits your budget and specific needs, whether or not you are able to provide a down payment. Contact us to learn more.
