Financial Services
We like it at AutoNomix when everybody wins. For this reason, when you need auto financing, we are available to broker an attractive deal that favours you and the lender. From our stockpile of industry experience, we will advise and guide you on the best auto credit options that will not fill you with the anxiety of default. We know from experience that lenders want security for their funds. They prefer a deal where your vehicle’s value is equal to or greater than the value of the loan amount. What we will do for you is to package an attractive deal they cannot refuse. We possess a detailed knowledge of each lender’s loan strategy and requirements. Also, we will do our best to understand your credit situation to enable us to match you with the most suitable lender. When assessing your credit situation, all lenders pass you through the Five Cs of risk assessment. We know how this works, and because will know and understand your credit situation, we know best how to guide you to lenders you will qualify for their loans. When assessing your credibility, all lenders pass you through the Five Cs of risk assessment. We know how this works, and because we know your credit situation, we know best how to guide you to lenders you will qualify for their loans.
The Five C’s of Car Loan Assessment:
Character:
Refers to your credit history which is used to decide your credit score. The Lender will use your credit score and the current market condition to help determine the interest rate on your car loan.
Capacity:
Lenders need the assurance that you can repay the loan. To determine your capacity to repay, they assess your employment with a debt-to-income metric (DTI). DTI divides the sum of your monthly debt payments by your gross monthly income. The lower your DTI, the greater your capacity to take on a new loan.
Capital:
Lenders prefer to see you invest some of your own money either from your savings or from the equity available in your trade instead of lending you the whole amount. It consolidates their confidence that you will not default. But guess what? AutoNomix can help you in two ways either by increasing the positive equity or by eliminating the negative equity by selling your vehicle a retail price boosting its value.
Collateral:
Remember that every lender wants the security of his fund, and often, they use the vehicle as collateral. Lenders prefer vehicles whose value is equal to or higher than the loan. But you have no reason to worry since we can help you maximize your vehicle’s value.
Condition:
This refers to the car loan terms and generally includes the credit score, DTI, and the required collateral value.
Our Lending Partners
At AutoNomix we are pleased to offer you the lowest possible interest rate on your next car, SUV, van or truck loan.
AutoNomix is located in Toronto, Ontario and also serves Scarborough, North York, Etobicoke, Mississauga, Oshawa, Brampton, Barrie, Newmarket, Ajax and surrounding areas.
Hours of Operation
| Monday | By Appointment Only |
| Tuesday | By Appointment Only |
| Wednesday | By Appointment Only |
| Thursday | By Appointment Only |
| Friday | By Appointment Only |
| Saturday | By Appointment Only |
| Sunday | By Appointment Only |