Frequently Asked Questions

FAQ

  • What Does it Cost?
    We don’t charge any fees up front for an approval, all of our fees are charged on the finance contract which is repaid monthly. Our fee depends on the total amount the loan is for but will max out at $995.00. There may also be some fees charged by the lending institution also (ranging from $499-$699) . We will never ask you for these fees up front
  • Are Your Loans Considered a Second Mortgage?
    No. We finance secured loans and they are not considered mortgages. The loan shows as an installment loan (repaid monthly or bi weekly) The loan can be paid out at anytime with NO PENALTY to you. The interest is only effective until the loan is paid in full.
  • Do I Need a Co-Signer?
    No you do not need a co signer to apply; however, having one could possibly help get a better interest rate but is not required.
  • Do I Need Money Down?
    No! Money down is not required. However, it can be requested by the lender sometimes to lower your payment to fit your budget or to cover the difference between what you’re approved for and how much you need for your purchase. If you do not have a down payment no worries we usually can work around this problem with you.
  • Can I apply over the phone?
    Absolutely! we do most transactions over the phone, by fax or online. If you do not wish to apply online one of our account managers would be more than happy to help you.
  • I live outside of Ontario. Can you still help me?
    Yes! We can help people in ALL provinces Ontario including Quebec . We service all of Canada!
  • Is this an open loan?
    YES! All of our loans are open ended. This means it can be paid out anytime with no penalty to you. This means big savings on interest.
  • Can I make my purchase from a private seller?
    100%! You can definitely buy from a private seller. We simply make the bank draft in the sellers name and send it to you. This allows you to take the cheque with you when you pick up your new purchase.”
  • I don’t live near your office. How do I sign the documents?
    That’s ok! We will send you everything by a web based program called docusign. Docusign is a way to sign documents electronically right on your computer or smartphone. Once your ready to sign the documents you will receive an email, open the e mail follow the promts and a signed copy will be sent to you and us! Just that easy. Our staff can help walk you through this process also to make it easy on you. We are also still able to e-mail, fax, or mail of you prefer.
  • How do I license my new purchase?
    Our team makes the licensing process as easy as possible. Included in your couriered package is:
    • The certified bank draft
    • A certified bank draft for the taxes
    • The documents needed to take to your local licensing office.
    • Hard copies of all of your financing documents
    • Pamphlets explaining the wonderful products you have acquired

    In the event of any questions or concerns please don’t hesitate to call us!

  • Do you offer personal loans?
    Sadly, We cannot assist in personal cash loans at this time. Our services are designed to assist you with major purchases.