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faqs

Why finance with AutoFUNDS?

The AutoFUNDS guaranteed approval process is fast, on budget and features offers tailored for specific customer needs. We have helped thousands in acquiring car loans they thought they would of never had.

How does financing with AutoFUNDS work?

Afer completing our online application, one of our finance specialists will contact you to confirm all information. Once we have confirmed all details, we will then process your application for your approval. This happens on the same day!

Can I apply for credit online?

You can apply for financing online at GoAuto.ca or at any one of our dealership websites. Request financing information by clicking the link found on any vehicle listing, fill out an application form on one of our finance pages, or simply call Auto Funds at 1-888-559-7854.

How are auto finance decisions made?

Financial institutions typically take four major factors into account: Down Payment Vehicle specifics (model, style, age, mileage, and cost) Application information such as income, time at current job, and time at residence Credit history

What does your credit score mean?

Your credit score is designed to help financial institutions predict the risk associated with your purchase of a car, house, credit card, etc. Essentially, it's meant to forecast how (and if) you will pay your bills. The higher your credit score, the greater your chance of receiving a better financing offer from Auto Funds. Four contributors to your credit score are: Timeliness of previous and current payments The length of your credit history The type and amount of your debts Your public records

I have excellent credit, what can Auto funds do for me?

We offer you highly competitive terms, reduced time and effort, and a transparent transaction.

I have had past credit problems, what can Auto Funds do for me?

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 respect you deserve as an Auto Funds customer.

Can I qualify for financing if this is my first vehicle purchase?

Many Auto funds customers qualify for financing on their first vehicle purchase. If a normal credit determination cannot be made based on your current credit history, you may still qualify for other programs, like those for recent college graduates. Stipulations for college students vary by finance company. Check with a finance professional for more information.

What finance rate can I get?

Your past credit history, the type of car you're buying, your down payment, and overall market conditions will all affect the finance rate for which you can qualify. We offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile.

What factors impact monthly payment?

Down payment, the amount financed, term (length of contract), and annual percentage rate (the yearly cost of a loan) all affect the monthly payment.

How much should I budget for my car payment?

The rule of thumb from most financial institutions is to spend no more than 15% of your gross monthly income on your car payment. For example, if you make $2,000 a month you should spend no more than $300 on your car payment.

What documents should I bring?

All buyers should bring a valid government-issued drivers license, a current pay stub, and a void cheque. Because different financing companies may require additional documentation, you may want to contact a Sales Consultant for a complete list of what you'll need to buy a car from Auto Funds. If you also intend to sell a vehicle to Auto Funds, please contact a Sales Consultant for a complete list of what you'll need.

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