Important Finance Information for Our Customers

Northumberland Motor Products has an in house financing specialist with over 30 years experience in Automotive Financing and a solid track record for getting customers approved with competitive and affordable payments and rates.

We feature TD financial services for prime and non-prime customers as well as several other financial institutions and we continually search the market for competitive rates.

Here are some frequently asked questions called FAQs:

1. How do I get financing?

Easy complete our online application or drop by and we will take down your information for preapproval O.A.C.

2. What are the dealerships interest rates?

These vary from 5% and up (see the rate example chart below) and are determined by the year of the vehicle, the term, the credit rating of the borrower and the amount borrowed.

PAYMENT AND COST OF BORROWING EXAMPLES

The above listed payments are for budget purposes only please multiply by the amount per $1000 you would need to borrow. Your actual payment maybe higher or lower O.A.C. Example $10,000 amount at 9.9% would be $45.40 wkly and cost $4,140 to maturity in 72 months. Rates vary to 28.5%

3. What is the difference between a prime customer and a non-prime customer?

Prime customers have previously established major credit, higher credit scores and track records and qualify for the lowest rates.
Sub-Prime customers may have some past poor credit history ie slow payment, account writeoffs, judgement or even bankruptcies or no previous credit whatsoever.

Note: we have found many people feel they have less than perfect credit which is either not reported to the credit bureaus or has simply vanished due to time and in fact they have a good rating.... Therefore it is recommended to let us process your application with a view to getting you approved. Remember our lenders want to finance your vehicle purchase.

4. How much money do I have to have down to get approved?

Zero if you prefer although some lender s may make it a condition of approval. Down payments will reduce your instalments.

5. How much income do I need to get approved for financing?

Approximately $1800 per month (gross before deductions) Call us to discuss lesser amounts as exceptions are quite often made.

6. Do I need to have a job?

Yes, if that is your source of income. Alternatively pensions and disability incomes with some conditions qualify as income for financing purposes. Unfortunately UI benefits and child support etc do not.

7. What about financing for Self Employed or Small Business owners?

Yes, with bank statements, financial records or tax statements to support the income used to qualify for financing.

8. Is my loan open and are there penalties for early payout etc?

All our finance agreements are open and can be paid off at anytime with only interest for the time the loan was open.

The aforementioned information is to help our customers make informed decisions when considering purchasing and financing with Northumberland Motor Products. All applications are subject to lender approval.

IF YOU HAVE ANY FURTHER QUESTION PLEASE CONTACT US TO DISCUSS YOUR CONCERNS.

WE ARE ALWAYS HERE TO HELP.

Credit Application

Fields marked with asterisks ( ** ) are required.