Notices

Financial institution for car loan/lease?

Thread Tools
 
Search this Thread
 
Old 06-25-2013, 10:52 AM
  #1  
9LVN_TT
Pro
Thread Starter
 
9LVN_TT's Avatar
 
Join Date: Mar 2012
Location: Ontario, Canada
Posts: 563
Received 1 Like on 1 Post
Default Financial institution for car loan/lease?

Looking for some recommendations on any Canadian based car loan/lease financial institutions. I have always been under the impression that I could only use a dealer or, my bank for this service. I hear that there are "other options" out there? A quick Google search pulls up a few but I am hoping someone on here can provide a lead for someone they personally have used.

I am looking to purchase an '07 997TT. I find most dealership's and bank's will only offer 48mth payment terms - hoping 60mths is available. I am hopeful that a 3rd party lender can offer a 5yr loan/lease program.

Any suggestions?

Last edited by 9LVN_TT; 06-25-2013 at 11:17 AM.
Old 06-25-2013, 11:18 AM
  #2  
atr911
Burning Brakes
 
atr911's Avatar
 
Join Date: Nov 2003
Location: Stoney Creek
Posts: 1,130
Likes: 0
Received 3 Likes on 3 Posts
Default

My car is leased through Pfaff Leasing. They'll do any make model. Despite a hiccup or two, they've been reasonable to deal with and rates weren't terrible.
Old 06-25-2013, 11:28 AM
  #3  
boraiv333
Instructor
 
boraiv333's Avatar
 
Join Date: Jan 2004
Location: GTA
Posts: 185
Likes: 0
Received 0 Likes on 0 Posts
Default

Howson Leasing will help you.
Old 06-25-2013, 03:34 PM
  #4  
Christien
Race Car
 
Christien's Avatar
 
Join Date: Nov 2004
Location: Hamilton, Ont. Canada
Posts: 4,856
Received 48 Likes on 33 Posts
Default

I run a small leasing company. We cater to the sub prime market, so I doubt our services are what you're looking for, but I can tell you that there are plenty of small lenders out there. Be careful with a straight google search on car loans - many of the hits are dealerships looking to draw traffic to make sales.

TD bank does car loans, and their rates start at 5.9 last time I checked.
Old 06-28-2013, 06:31 PM
  #5  
Dr Mitch
Burning Brakes
 
Dr Mitch's Avatar
 
Join Date: Jan 2010
Location: Toronto
Posts: 768
Received 0 Likes on 0 Posts
Default

+1 on Howson - I've dealt with them for years...
Old 06-28-2013, 08:07 PM
  #6  
KillPhil
Instructor
 
KillPhil's Avatar
 
Join Date: Nov 2010
Location: Toronto, ON
Posts: 189
Likes: 0
Received 0 Likes on 0 Posts
Default

Try Stephen Goodbody, Chief Instructor, UCR - that's the business he's in. 905-415-8248 or lsgform@idirect.com
Old 06-29-2013, 11:41 PM
  #7  
Richard930
Instructor
 
Richard930's Avatar
 
Join Date: Jun 2004
Location: Toronto Canada
Posts: 178
Received 1 Like on 1 Post
Default

Don't like to be the one to say it, but if you need financing for a used Porsche you probably shouldn't be buying one. My 2 cents only;do as you wish!
Old 06-30-2013, 12:23 PM
  #8  
Hyper911
Pro
 
Hyper911's Avatar
 
Join Date: Apr 2011
Location: Toronto, Ontario, Canada
Posts: 535
Received 12 Likes on 6 Posts
Default

vs financing a new?. Still a 70-90k car so as long as the peron can afford the payments i dont see the big issue.
5 years though will be tough on an 07. Rates will be higher. Pfaff is good as stated above.
Old 07-01-2013, 10:18 AM
  #9  
King_James
Instructor
 
King_James's Avatar
 
Join Date: Dec 2012
Location: Toronto, ON
Posts: 115
Likes: 0
Received 0 Likes on 0 Posts
Default

Originally Posted by Richard930
Don't like to be the one to say it, but if you need financing for a used Porsche you probably shouldn't be buying one. My 2 cents only;do as you wish!
One prudent with finances would argue the exact opposite. Putting cash into a depreciating asset is a bad idea considering lending can be had for as low as prime rate. That cash is better left in investments earning higher rates.

Just my 2 cents, do as you wish!
Old 07-01-2013, 03:28 PM
  #10  
moab
Rennlist Member
 
moab's Avatar
 
Join Date: May 2012
Location: TO
Posts: 2,062
Received 670 Likes on 328 Posts
Default

Originally Posted by Richard930
Don't like to be the one to say it, but if you need financing for a used Porsche you probably shouldn't be buying one. My 2 cents only;do as you wish!
I always find unsolicited advice like this amusing. You know nothing about the OP's circumstances.



Quick Reply: Financial institution for car loan/lease?



All times are GMT -3. The time now is 10:28 AM.