We Can Approve You When Other Dealers Can’t
Search our inventory to find the vehicle you love. At Terrace Lincoln, we have hundreds of models to choose from, including Lincoln’s award-winning lineup of cars, trucks, and SUVs.
Now that you’ve decided on a vehicle, we can get you pre-approved for it without having to bring you into a dealership. Get approved in your pj’s!
Once you’ve been approved (Terrace Lincoln can finance your loan if the banks won’t) we work with you to choose a payment that fits both your lifestyle and your budget.
At Terrace Lincoln, we work with more than a dozen lenders to make sure we can give you the most flexible financing and leasing options. We have many financing options available for first time car buyers.
Having a hard time getting approved for a car loan? Don’t worry. Terrace Lincoln has solutions for nearly every credit situation. Our financing specialists can help you get back behind the wheel with affordable auto loans, even if banks turn you down.
If you have a car loan already, and you think you’re paying too much, Terrace Lincoln’s parent company, Go Auto, can buy out your loan and get you a better finance rate and lower payment.
All buyers should bring:
Depending on the specifics of your purchase, you may be required to bring additional information. For a complete list of what you’ll need to buy or trade in a vehicle with Go Auto, call the dealership ahead of time and speak with a Sales Consultant.
Four main factors determine whether you get approved for a car loan:
For the best chance of approval, and the lowest monthly payment possible, try to select a vehicle that fits your budget. Also, provide as large of a down payment as you can.
Once you’re approved for a car loan, three factors will affect your monthly payment (in order of importance):
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.
Your credit score is a number that helps financial institutions predict the risk associated with your purchase of a car, house, credit card, etc. Typically, your credit score ranges from about 350 to 850, and is essentially meant to forecast how (and if) you will pay your bills. In general, the higher your credit score, the more likely you are to get approved for a car loan.
The systems that generate your credit score look at your credit report, and take several factors into account when determining your credit score, including, for instance, your payment history, and the number of inquiries made on your credit report.
Your credit score is a number that ranges from about 350 to 850. In general, the higher the number, the more likely you are to get approved for a car loan. The systems that generate your credit score look at your credit report and take several factors into account, including:
Do you prefer to drive a new vehicle that will always be under warranty every few years? 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 (905) 632-6252 or any Go Auto dealership to schedule a free consultation.
You can also learn more at our financing vs leasing page.
Of course. 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.