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Financing With MGM Ford Lincoln Sales Ltd.

The Financing Process

Our financing process is as easy as one, two, three, MGM Ford Lincoln Sales Ltd.! Start by filling out our easy credit application, call (855) 998-2533 or email us!

You’re just a few steps away from owning your next car!

1

Find a Vehicle
you love

2

Estimate Your
Car Payments

3

Apply for Car
Financing online

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Bad Credit Car Loans

If you’re having challenges getting approved, MGM Ford Lincoln Sales Ltd. has solutions for almost every credit situation. Our financing tools and credit specialists will help you get back behind the wheel with affordable auto loans.

driving

In-House Financing

MGM Ford Lincoln Sales Ltd. offers convenient in-house financing solutions that will get you on the road fast. We report our loans monthly to the major credit rating suppliers in Canada so your creditors know you have a car loan in good standing.

partners

Our Finance Partners

In addition to Go Finance, our in-house finance company, we also work with other world-class financial institutions to give our customers access to the best car financing rates and widest variety of options.

Our extensive list of lending institutions includes:

  • Alberta Treasury Branch
  • Bank of Montreal
  • Bank West
  • Chrysler Financial
  • Carfinco
  • Ford Credit
  • FinancialLinx
  • First Calgary Savings
  • Royal Bank
  • Scotia Bank
  • Scotia Dealer Advantage
  • Sevus Credit Union
  • TD Canada Trust
  • VFC
  • WS Leasing
  • Dominion Leasing

Bad Credit & Car Loans

At MGM Ford Lincoln Sales Ltd., bad credit isn’t a barrier to buying a car. We have financing tools and credit specials on hand to help you get back behind the wheel with affordable car loans.

Our team has helped thousands of people who have had trouble getting a car loan through conventional sources. We’ll help you finance a car or truck with bad credit or no credit in Red Deer, Alberta or as far as BC or the NWT.

Apply for bad credit car loans

Want to make your bad credit history?

Start by filling out our easy credit application, call (855) 998-2533 or email happytohelp@goauto.ca

APPLY for bad credit financing

no-credit

No Credit?

Buying a new car is a great way to establish a credit score, and MGM Ford Lincoln Sales Ltd. can help you get credit for the first time. Stop waiting and get on the road.

bad-credit

Bad Credit?

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 the respect you deserve as a MGM Ford Lincoln Sales Ltd. customer.

first-time-buyer

First-Time Buyer?

Many MGM Ford Lincoln Sales Ltd. Customers qualify for financing on their very first purchase. Even if this is the first time you’ve bought a car, we can offer you a number of options.

in-house-financing

In-House Financing Benefits

Being the biggest auto group in Canada, we have the ability to set up our own financing solutions in order to help our customers get driving. You could say we set our own rules.

Estimate your Car Payments

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Finance VS Lease

Which Is Better:

Leasing or Financing?

What are your goals? We all have different priorities—in cars, life, and finances. When deciding on leasing vs. financing, what’s right for one person can be totally wrong for another.

Generally, leasing offers lower monthly payments than financing as well as the benefit of owning a new car every two or three years. However, financing offers its own set of advantages.

Luckily, we have a team of finance experts who are happy to help you find the best option for you.
Call MGM Ford Lincoln Sales Ltd. at (855) 998-2533 to book a free consultation.

Is leasing better for me?

You Want

  • To drive a new car every two or three years
  • Lower monthly payments
  • The latest safety features and a car always under warranty

You Don’t Mind

  • Trading in or selling used cars privately
  • Building ownership equity

You Have

  • A stable, predictable lifestyle
  • An average number of miles to drive
  • No problem properly maintaining your car

Is financing better for me?

You Want

  • To build up trade-in or resale value (equity)
  • Complete ownership of your car
  • The feeling of being payment-free after paying off your loan
  • The freedom to customize your car
  • To drive your car for a long time

You Don’t Mind

  • Unexpected repair costs after your warranty has expired
  • Higher monthly payments

You Have

  • To drive more-than-average miles
  • Possible lifestyle changes in the near future

If this sounds like you, then leasing may be the best option for your needs

If you prefer to own your vehicle outright, and plan to own for the long-term, then financing will be your best option

Leasing VS Financing:

Cost Comparison


For the same car, same price, same term, and same down payment, monthly lease payments will always be 30%-60% lower than loan payments. This is still true even when compared to 0% or low-interest loans.
The medium-term cost of leasing is about the same as the cost of financing, assuming the buyer sells or trades his or her vehicle at loan-end and the leaser returns his or her vehicle at lease-end.

Some comparisons sometimes show that financing can cost a little less than leasing due to fewer fees, lower total finance costs, and the assumption that a purchased vehicle will return full market value if it is sold or traded at the end of the loan.

However, when the benefits of wisely investing monthly lease savings are considered, the net cost of leasing can be less than financing.
The long-term cost of leasing is always more than the cost of financing, assuming the buyer keeps his vehicle after loan-end.

If a buyer keeps his car after the loan has been paid off, and drives it for many more years, the cost is spread over a longer term. That means the cost of buying one car and driving it for ten years is less expensive than leasing or buying four or five different cars over the same period.

If long-term financial cost savings were the most important objective in acquiring a new car, it would always be best to buy the car and drive it for as long as it survives, or until the cost of maintenance and repairs begins to exceed the cost of replacing it.

However, many automotive consumers have other more immediate objectives that are more important than long-term cost savings.

Frequently Asked Questions

All buyers should bring:

  1. Valid government-issued drivers license
  2. Current paystub
  3. Void cheque
  4. Contact a your Sales Consultant for a complete list of what you’ll need to buy or trade in a car with MGM Ford Lincoln Sales Ltd..

Four main factors determine whether you get approved for a car loan:

  1. Vehicle selection—Cost, age, and mileage
  2. Application information—Employment history, residence, and income
  3. Credit history—Information contained in your credit file
  4. Down payment—total of cash and trade equity

Tip: For the best chance of approval, and the lowest monthly payment possible, try to select a vehicle that fits your budget and provide as large of a down payment as you can.

On approval, three factors will affect your monthly payment (in order of importance)

  1. Amount financed
  2. Term or length of contract
  3. Annual Percentage Rate (APR)

We offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile. You can learn more about your personal finance options at any Go Auto dealership.

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. Monthly payments normally range from $20 – $25 per $1,000 financed.

Your credit score helps 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 Go Auto.

Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the lower the risk. The systems that generate your credit score look at your credit report and take several factors into account including:

  • The timeliness of your payments, including late payments
  • The amount and type of debt you have
  • The number and age of your credit accounts
  • Inquiries created by applying for credit
  • Public records such as liens and judgments

Do you prefer to drive a new vehicle very few years that will always be under warranty? That’s one advantage of leasing. Do you prefer to build up equity and drive one car for a long time? Then consider financing.

There are all sorts of factors to consider when choosing between financing and leasing. Luckily, we have a team of finance experts who are Happy to Help you find the best option for you. Call (855) 998-2533 or any Go Auto dealership to schedule a free consultation.

You can also learn more at our financing vs leasing page.

Many Go Auto 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 at any of our Go Auto dealerships for more information.

Have more questions?

Email or (855) 998-2533 and we would love to get back to you with your answer.