Drayton Valley Toyota|5629 56 St, Drayton Valley

Financing a Toyota is easy

When you're ready to buy a Toyota but don't have the money to pay in case, Drayton Valley Toyota can provide options to you but don’t have the money to pay for it in cash, there are options available to you: financing or leasing.

We make financing
your Toyota simple


Get pre-approved online

Utilize our convenient online calculator to find the best solution for your particular situation.

Get pre-approved online
Choose your payment

Your credit score can affect the interest rate you receive, so it's important to check your status before seeking financing. With our service, you can check your credit score without any impact on it. We offer a range of financing options to suit all credit situations.

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Advantages of Drayton Valley Toyota financing


No matter what your financial situation may be, we are committed to helping you find the most suitable monthly payment options for your needs. Whether you choose to pay for your vehicle by borrowing, leasing, or with cash in the form of a certified cheque or bank draft, we will work with you to ensure you receive the best possible financing terms.

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First-time buyer

We understand that some car buyers, particularly young people, may not have a credit history, a down-payment, or a vehicle to trade-in. However, we can still help you get behind the wheel of a vehicle. We have established partnerships with Canada's major banks, allowing us to offer flexible financing or leasing options tailored to your specific needs, even if you lack a credit history or initial payment. So, don't worry - we've got you covered!

Bad or no credit

No matter your credit situation - whether you have a bad credit score, have been refused a bank loan, or have declared bankruptcy - we have financing solutions that can help you get the vehicle you need. Our team of financing specialists is dedicated to finding affordable solutions that suit your budget, even in challenging credit situations. So, don't let your credit history hold you back - contact us today to explore your financing options.

Newcomers to Canada

If you are new to Canada, you may not be aware that your credit score from your previous country doesn't carry over. However, that doesn't mean you can't get approved for a loan to purchase your first car in Canada. Our team has experience working with newcomers to Canada, and we can help you navigate the process to get you the financing you need. With our help, you can be behind the wheel of your first car in Canada in no time.

High rate on an existing loan

If you currently have a loan and believe that you are paying too much, we can assist you in finding a better solution. As part of the Go Auto family, we have the resources to buy out your existing loan and offer you a better finance rate and lower monthly payments. Our team is dedicated to helping you save money while still getting the vehicle you need. Contact us today to discuss your options and start the process of refinancing your loan.

What do I need to
get approved?


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Employment & income

To qualify for financing, there are some general requirements you must meet, such as being employed at your current job for a minimum of three months and earning a monthly income of at least $1,800. However, we understand that everyone's situation is unique, and we also accept other forms of income, including certain types of government assistance. Contact us to learn more about our financing options and find out if you qualify.

Down payment

While a down payment is not always required, it can help. By putting money down upfront, you are reducing the amount that you need to finance. This can make you a more attractive candidate to lenders and increase the likelihood of getting approved for a car loan. We understand that not everyone has the means to provide a down payment, but our team can work with you to explore your options and find a financing solution that fits your needs and budget. Contact us to learn more about our financing process.

Driver’s license

You need a valid driver’s license and be the age of majority in the province that you live in.

Current address

To complete your loan documents, please provide your current address details, including your monthly rent or mortgage payment.

Bank account

Lenders like to take your loan payment directly from your bank account each month. The best way to do this is to get a void cheque or stamped pre-authorized payment form.

Contact details

Please provide your full name, date of birth, phone number and email address to apply for a car loan.

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Paying off your Drayton Valley Toyota car loan


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Paying off your loan early

If you are currently making payments on a car loan, you may be able to pay off the remaining balance after a certain period of time has passed. Many banks allow borrowers to do this, typically after six months of making regular payments. We recommend contacting your bank to inquire about their policy on early repayment. Alternatively, our financing specialists can also assist you in understanding your options and finding a solution that works best for you. Contact us to learn more.

Changes to payments

If you currently have a car loan and wish to pay it off faster or reduce the amount of interest you pay, there are options available to you. Many lenders allow borrowers to make lump-sum payments or increase their regular payments, which can help pay off the loan sooner and potentially save you money on interest charges. Our financing specialists can work with you to explore these options and find a solution that fits your financial goals. Alternatively, you can contact your lender directly to inquire about their policy on extra payments. 

Extending a loan term

Once you have secured a car loan, the terms of the financial agreement are typically fixed and cannot be extended. However, it's always a good idea to confirm this with your lender or speak to our finance specialists to explore your options. Depending on your lender's policies and your specific situation, it may be possible to extend the loan agreement in certain circumstances. Contact us or your lender to learn more about your options.

Car loan insurance

While car insurance is a common type of protection for drivers, many people may not be aware that they can also insure their car loans. This type of insurance can be particularly valuable in case of unforeseen circumstances such as job loss or illness, which could make it difficult to keep up with regular loan payments. If you're interested in learning more about this type of insurance, our team at Drayton Valley Toyota can provide you with more information and help you find the right coverage for your needs.

Affordable financing

If you have a low income, don't worry - we can help you get the car you need! Even if you earn $1,800 a month or less, you may still be able to borrow money for a vehicle.

Switching a loan to another vehicle

Looking to upgrade your vehicle but still have a car loan to pay off? Don't worry, we can assist you with that. Our team can help you choose your next car, settle your existing loan, and combine any remaining amount into your new financing agreement. Contact us to learn more about our loan payoff and vehicle upgrade options.

Getting a Drayton Valley Toyota car loan and managing it

How long does it take Toyota finance to approve a loan application?

Approval is quick and easy. With all the documents and information in place, it can happen in minutes! Keep in mind that each lender has different approval processes. Some lenders can take a few hours or a couple of days.  

Is the pre-approval a hard query of my credit rating?

No, pre-approval is a soft query and does not affect your credit rating.

Could I be declined after approval?

That can happen, but not often. If there's a problem with a credit check or your documents you may be declined after approval.

Is it better to pay car payment twice a month?

Making payments on time is important to maintain a good credit score. How often you make payments won't affect your credit score as long as you make them on time. Choose a payment schedule that suits your budget and stick to it to avoid late payments.

How much should you put down on a car?

Providing a larger down payment can help lower your monthly payments. However, each lender has their own specific requirements for down payments. Some lenders may require no down payment at all. It's important to discuss your options with our financing specialists to determine the best plan for you.