Here's How It Works

Easy 3 steps to get your into your new vehicle.

1. Apply Online

We’ve designed our application with you in mind. Our online application only takes 60 seconds to fill out and your information is completely secure.

2. Receive Approval

After your application has been submitted, our team works with you to get an auto loan. Our expert team will help guide you and get you approved as quickly as possible.

3. Purchase Your New Car

Once you're approved, our team will gladly help you get into your new car! It's as simple as that.

  • Our salesman Allan was awesome, Very informative with all of the features of the vehicle. Couldn't have had better service anywhere else. Went to a Ford dealership earlier in the day, the salesman was horrible. Thank you Allan for working with us on this purchase.

    Chris & Tina

  • We dealt with dilshan from out of city and he went above and beyond to get me and my husband into the jeep we loved. They met our needs and exceeded our expectations. Other dealers we went to lacked the desire to make a sale that Ottawa dodge gave me and my husband! Highly recommend dilshan and everyone at Ottawa jeep dodge Chrysler.

    Erin Adam

  • We received an excellent service from everyone we met throughout all the process, from negotiation to delivery. Our concerns were dealt with rapidly and to our entire satisfaction.



Do I need to make monthly payments when buying a new vehicle?

Unless you’re in the position to pay cash for a new or pre-owned vehicle, you’ll need to establish a payment plan to obtain that vehicle. Two options exist – taking out a loan or leasing. You can choose to pay monthly, bi-weekly, or even weekly when negotiating your deal.

How loans different than leases?

When you take out a loan, all of the money used to pay it off applies to your eventual ownership of the vehicle. The initial down payment and principal on the loan cover the total cost of the purchase. Lease payments, however, apply only to the use of the vehicle. The total sum of payments covers the vehicle’s depreciation over the time you drive it and is usually less than the outright price of the vehicle. At the end of a lease you are given the option to buy out the vehicle, but if you do not buy out the vehicle, you do not own the vehicle.

When is ownership transferred when purchasing a vehicle?

If paid by cash/certified funds, you assume ownership when all funds have been received by the dealership, the legal documents have been executed, and ownership is transferred to you. If financing is secured in the form of a loan, ownership of the vehicle is transferred to you when all documents have been executed and the dealership transfers ownership to you; note that the institution that provides the financing will most likely hold a lien on the vehicle until the outstanding balance is paid, which means you cannot legally transfer ownership until the lien is cleared. When a lease period ends you forfeit the vehicle to the lessor, unless the lessor offers to sell the vehicle afterwards. During the entire lease period the lessor maintains ownership and simply allows you to use the car. Ownership is only transferred if you chose to buy the vehicle after the lease terminates.

How are finance rates determined?

The size of monthly loan payments depends on the amount borrowed, the length of the loan, the interest rate, and other factors such as your credit history. Paying more money initially lowers the principal of the loan, thus reducing individual payments. At any period during the loan you may opt to pay off the principal in its entirety, at which point the title of the vehicle is transferred to you. Special financing rates may be available to you if the dealership is able to successfully negotiate on your behalf; most new vehicles often come with special finance rates like 0%.

Can I finance a used vehicle?

Yes, although the term of the loan can be dictated by the age of the vehicle. For example, a 1-year old vehicle can be financed longer than a 5-year old vehicle.

Will I be charged any extra fees to finance a vehicle?

The only additional charge to finance a vehicle is a small loan setup fee, usually around $75. Generally, offering a “cash deal” to a dealership will not result in a lower price. Whether funds for the purchase comes from the bank or from the customer, it is all the same to the dealership.

Is financing better than leasing?

The answer to this question depends on how you plan to use the vehicle. If you like the idea of driving a more expensive vehicle for a smaller monthly payment, leasing is a great option. However, if eventually owning the car is important, financing with a loan is the way to go.

Are there any restrictions when leasing?

Annual kilometers restrictions are a major limitation for customers who choose to lease. A typical yearly figure is between 18,000 and 25,000 kilometres. Beyond the established limit, fees accrue on a per-kilometer basis, usually in the range of $0.10 to $0.25 per kilometre. So if most of your driving is local, leasing makes sense. However, if you consistently tack on 500 or more kilometres a week, definitely look into a loan.

What are the benefits financing a vehicle rather than leasing?

Loans are also sensible for those who want to customize their vehicles, plan on keeping their cars for long periods of time, and plan to re-sell their vehicles to help recoup the costs of ownership or expenses of additional cars. For those who quickly wear vehicles out, loans may be safer bets as lessors often add “excessive wear” charges if the car is returned with wear over the limits established by the contract.

What are the benefits of leasing?

Leasing ensures that you’ll always drive a late-model vehicle, won’t have to pay for warranty-covered repairs, and won’t have to bother with re-selling at the end.

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We will provide you with the tools you need to get into your new vehicle.

  • Principal

    The Principal is the total cost of a vehicle including any fees included in the transaction as well as any add-ons you choose.

  • Term

    The term is the length of time that payments will be made for. Terms can typically run anywhere betwee n 24 Months and 96 Months with payments made monthly or bi weekly.

  • %

    Interest Rate

    The Interest Rate is the percentage of the principle that the lender is charging for you to borrow money for the agreed upon term. Interest rates will vary depending on the risk the lender perceives for repayment of the loan. Interest rates can be determined by a combination of the vehicle information as well as your credit history.

Why choose Ontario Automotive Financing?

  • Guaranteed Approval
  • No upfront fees for financing
  • Competitive Interest Rates backed by major banks and lending institutions
  • Fast Approvals-usually same day or next day

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Ottawa St-Laurent Jeep & RAM

1500 Classic


1500 TRX

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