You've chosen your car, and now it's time to meet with the bank.

You find yourself on the car dealership's showroom floor, falling in love with that sweet little drop top with the fancy chrome wheels, but suddenly there's the realization that maybe your bank account won’t be able to accommodate paying the full sticker price all at once. What's a car buyer to do? If you find yourself in this situation, it's useful to know that you have financing options available when it comes to buying a car. Check out our online pre-approval to get started today. The average Toronto GTA car buyer likely has some basic knowledge about things like car financing and 0 financing, but here are a few of our favourite tips for those looking to buy a car or truck in Toronto and the GTA, including Hamilton, Barrie and Scarborough:

Know your credit score.

Even before you pick up the phone, you should have some idea what you credit score looks like. Your credit history can affect your car financing so keeping a close eye on your credit history will help you stay on top of your score and any potential inaccuracies.

What's your budget?

Decide in advance how much you can afford to spend each month for your vehicle loan payments. Don’t forget to include less obvious car expenses, like insurance, gas and maintenance into your budget too. As yourself how much money you can realistically put down?  Most lenders, including banks are going to ask for a down payment of some type based on your credit.

Gather your paperwork.

You will need several documents to support the claims you make on your loan application and the bank will follow up on them. Make sure that you have all of the documents available so that you are not running around searching for them thus delaying your loan approval. Although every bank has different criteria, some of the common documents you will need in addition to your credit score are proof of identity, residence and income.

These are just a few of the basic tips to get you ready to start talking about financing for your car. Being prepared prior to your meeting will give you the best chance for success. We have a large inventory of quality new and used vehicles for those looking to lease or buy in Toronto GTA. Ask us about our financing options. We’re here to help get you on the road.