Top Six Reasons Why You Should Not useYour Line of Credit to Pay for a Vehicle!

1) Interest rates fluctuate with prime which can result in variable payments

Unknown interest and unknown terms.

2) Lines of credit are designed for emergencies and investment opportunities

Don't get caught without a backup plan.

3) Many lines of credit are secured by your home; credit providers consider this a second mortgage

Default of payment for any reason allows the bank to repossess your home.

4) Lines of credit were designed as interest only loans

Interest only payments result in long term liabilities without assets.

5) Your credit line is a demand note

Your bank has the right to demand payment in full, discretion, at their discretion any time, with or without cause. If you do not have the cash to pay off your line they will use their "Right of Offset".

6) Our full service finance team represents all major banks and can negotiate the best terms and conditions on your behalf

Fixed term open loans save you money and allow you to trade sooner.



500 Bayly Street West
Directions Ajax, ON L1S 4G6

  • Sales: 1 (888) 296-9348
  • Service: (905) 686-0555
  • Parts: (905) 683-0555

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