Frequently Asked Questions at Legacy Cars
I have bad/no credit can I still get financing?
Legacy Cars has experienced financial advisors that specialize in challenging credit situations. No matter what your credit situation is, the team at Legacy Cars will work to get you approved. With access to all financial lenders, getting you approved at a rate that you want is what we do.
I am new to the country; will I get approved?
Absolutely! We offer convenient and flexible financing options to help you drive away with your first car in Canada. We understand that a vehicle offers freedom as well as easy access to places you need to go. Let us help get you settled!
Will a car loan help rebuild my credit?
Yes! A car loan through Legacy Cars will be placed with a recognized lender who will report your payments to the Credit Bureau. This will improve you credit as it will show you are making your payments. This will improve your credit score over time while at the same time providing you with reliable transportation.
Does Legacy Cars share my personal information?
No. Your information is confidential and will not be shared without your permission. Our client’s privacy is a top priority, and our trusted financial experts will always handle your information with the utmost discretion.
I do not live locally; can Legacy Cars still handle my financing?
Absolutely! Legacy Cars is proud to serve all of BC! The purchase process can be done almost entirely online or over the phone and we even provide FREE delivery all over BC!
How do I get started?
It is easy. To start the process to qualify for financing just APPLY ONLINE now.
Can I finance any vehicle?
Yes! You can choose your vehicle from our wide variety of trucks, cars, SUVs, and vans. At Legacy cars we sell all makes and models so we are guaranteed to have something that not only fits your budget, but that you will love to drive. See all inventory HERE.
WHAT IS CASH BACK?
You hear the "Cash Back" option from so many lenders, Mike will explain exactly what this option means. On approved credit, you can actually get up to $20,000 cash back. The goal for everyone is to pay off existing debt with the available cash back. Some use the cash back to pay off their high interest loans, credit cards, some use the cash to take a break and go on a much needed holiday.
CAN YOU ACCESSORIZE YOUR CAR OR TRUCK PROFESSIONALLY AND FINANCE INTO YOUR LOAN AT LOW INTEREST
We have the perfect truck, but you want custom rims and a lift on it. Legacy Cars can get this done for you professionally for a fraction of the price of what you would pay privately. Best of all, Mike can have this expense financed for you with your vehicle loan.
ACCESSORIZING - Whether you choose to have cash back or finance the extras into your loan, along with custom rims, wheels and lifts, Legacy Cars can add window tint, back up camera, heated seats, dash camera, winter tires, security system, remote start, etc... Just ask Mike!
CAN YOU PURCHASE EXTENDED WARRANTIES ON USED CARS?
YES! Some of our newer vehicles do come with an existing manufacturing warranty. However, it is great that Legacy Cars has established relationships with not just banks over the 15+ years in business, we have also established relationships with top-rated, well-known and reputable insurance and warranty companies to offer you affordable and customizable extended warranties.
"UNDERSTANDING THE "FINE PRINT" WITH NO PRESSURE" - BRIEF INTRO TO UNDERSTANDING THE SALES AGREEMENT.
Annual Percentage Rate* "APR" explained...
You as the buyer do not have the cash to buy the car or truck outright. So, you need to borrow. Borrow from a bank or a lending company. These lenders are in the business of loans, so they want interest for lending you the cash to buy the car or truck. The APR fluctuates based on your credit history, what vehicle you are purchasing, and can be different from lender to lender. If your credit is not the greatest, your APR rate will be higher. At Legacy Cars we have been in business for over 15 years and have established relationships with various lenders and banks so you can be confident we are getting you the best APR rate possible.
*Lenders have their own unique sales contract that they provide to our finance office. Some may use different terminology and have the same meaning as noted above here. ie. Some contracts will read "Annual Interest Rate" and others, "Annual Percentage Rate"... Luckily for you, Mike can help you make sense of it all!
FINANCE CHARGE* explained...
This is the actual dollar amount of your APR, the sub-total of your interest cost over the course of the loan. This dollar amount is presented as the financial charge so you know what the lender or bank is receiving for lending you the funds to purchase your car from Legacy Cars.
AMOUNT FINANCED* explained...
This is the amount you need to buy the car, plus the total Finance Charge.
TOTAL OF PAYMENTS* explained...
This will have the sum of the Finance Charge and the Amount Financed.
TOTAL PAYMENT* explained...
This is the original price of the car or truck, your down payment, plus the Finance Charge.
PAYMENT SCHEDULE* explained...
This is the breakdown of the number of payments and cost of each payment. You decide if you want your paymens monthly or biweekly. Your Total Payment is divided by the number of payments to give you the balance of your monthly or biweekly payment.
This section provides you with a cost breakdown on your purchase, such as, but not limited to, the selling price, taxes, fees, rebates, trade-in allowance, down payment, and optional add-ons such as accessories, extended warranties and gap insurance.
CONTACT MIKE ALEXANDER, OUR TRUSTED FINANCE EXPERT AT LEGACY CARS!