How do banks decide what you can afford?

How do banks decide what you can afford?

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....
How Long Can I Finance That Car?

How Long Can I Finance That Car?

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...