by Centennial Credit | Dec 9, 2020 | Financing
Today we’re going to take a quick look at debt-servicing. Debt servicing is a fancy way of saying ‘affordability’. Affordability is a key part of the approval process for banks. Oftentimes, debt servicing is the reason for an application getting approved or declined....
by Centennial Credit | Dec 9, 2020 | Buying A New Car, Financing, Leasing
What is a cosigner? A cosigner is someone that signs the loan contract with you to strengthen your application. By signing the contract they are equally responsible for maintaining the loan. That means if you miss a payment, it will be reported to your credit bureau...
by Centennial Credit | Dec 9, 2020 | Buying A New Car, Financing, Interest Rates
Rates Are Always Changing Auto finance terms and interest rates are always changing. The banks update their rates at the beginning of each month to reflect the current economic climate. Manufacturers also follow this practice, updating their rates and incentives at...
by Centennial Credit | Dec 9, 2020 | Buying A New Car, Financing
Car loan finance terms How long you can finance a car for depends primarily on two factors: the age of the vehicle the kilometers on the vehicle For new cars the shorter the term you choose the better interest rate you will get. For used cars there’s a little more to...
by Centennial Credit | Dec 9, 2020 | Buying A New Car
Choosing a new vehicle can be a stressful task. There are so many options and there’s so much information online it can be difficult to be confident in your decision. For most people, buying a vehicle is the second biggest purchase after buying a house. Mistakes can...
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