Finance Department

Helping You to Finance Your Vehicle

At Bannister Ford, we are all about providing peace of mind for our customers. This is the reason why we go even further by not only selling you vehicles but we also help you find a way to finance them. We can get you affordable interest rates and flexible payment terms, regardless of your credit situation.

Bad credit? No credit? No problem! Our finance experts are fully equipped to find a solution for each person.

Our financing process is simple, efficient, and straight-forward. All you need to do is apply online and we will get back to you within 24 hours.

Our Partnerships

At Bannister Ford, we believe that partnership is the key to success. One of the main reasons we are able to provide our customers with affordable rates and flexible terms is mainly thanks to our partnership with major financial institutions. Our finance experts work hard to find the best plans that suit your budget and goals.

Some of our financial partners include:

Finance vs. Leasing

You are probably asking yourself this question. What is the difference between financing and leasing? What is the best option for you? Well the difference is quite easy to understand. When financing a vehicle, at the end of the payment term, the ownership of the vehicle entirely goes to you. But when you lease a vehicle, the ownership of the vehicle comes back to the dealership at the end of the lease. So if you are looking to have complete ownership of your vehicle, be able to customize it and drive your vehicle for a long time, then financing is the best option for you. But if you are looking to drive a new vehicle every two or three years with the latest safety features and have lower monthly payments, then leasing would be a better option. If you have any more questions, our finance experts will be here to help you.

Frequently Asked Financing Questions

All buyers should bring:
  • Valid government-issued drivers license
  • Current paystub
  • Void cheque
  • Contact a Sales Consultant for a complete list of what you’ll need to buy or trade in a car with Bannister Ford.
Four main factors determine whether you get approved for a car loan:
  • Vehicle selection—Cost, age, and mileage
  • Application information—Employment history, residence, and income
  • Credit history—Information contained in your credit file
  • 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)
  • Amount financed
  • Term or length of contract
  • 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 Bannister Automotive Group 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 Bannister Ford.
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 1-250-782-8589 to schedule a free consultation.
  • You can also learn more at our financing vs leasing page.
  • Many Bannister Ford 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 our dealership for more information.

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  • Monday - Friday

    8:00am - 5:00pm

  • Saturday - Sunday


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