Frequently Asked Questions

If you have a question that we haven't answered here, please let us know.  We'll get the information for you, and add your question and the answer to this list of FAQ's so that others can benefit from the answer to your question.

Q1. What is the cost and what obligation will I have?
There's no cost, no risk, no obligation. Our service and expert guidance are free. We earn a commission when your loan is approved and you purchase a vehicle from us.
Q2. Who should apply with Elgin Chrysler?
Our auto loan service is for anyone looking to purchase a new or used vehicle, regardless of credit history. If you have good credit, slow credit, no credit history, or you need a second chance loan, we can get you pre-approved for a Certified pre-owned or brand new vehicle  at a very competitive price and finance rate.
Q3. Am I eligible if I have really bad credit?
We understand and respect your situation. Life is unpredictable. Sometimes events beyond your control have a negative impact on your credit. Our goal is to repair your credit and get you back on the road.
Q4. What if you can't approve my loan?
If your credit situation prevents us from getting you approved, our lending specialists will explain what you need to do to get a future auto loan approval.
Q5. What if I've been turned down before?
Don't give up, even if you've been refused elsewhere. We may have lenders to accommodate you. Talk to us. We'll explain what needs to be done for you to get a approved for an auto loan.
Q6. How do I qualify for an auto loan?
To qualify, you must have job and residence stability of at least 4 months, you must have sufficient revenue to cover your monthly payments: a minimal monthly income of $1800 and have no late payments currently pending with other creditors.
Q7. How do you handle my application?
When you send us your online application for an auto loan, we review it and then contact you personally to discuss your situation and financing options. (Please don't be embarrassed to describe your credit circumstances. You will be treated with courtesy and respect, and every word is confidential.)
Q8. How long does it take to get approval?
When your auto loan is pre-approved the lender may require paystubs for proof of employment. Once proof of employment is established all that remains is to finalize the details at the dealership. Some applications may take a little longer, but we typically complete the approval process in 24 hours.
Q9. How are auto loan interest rates calculated?
Our lenders determine interest rates, influenced by a number of factors-including the age of the vehicle, severity of credit difficulties, your employment stability, and degree of credit risk. When our auto loan expert contacts you, they will explain these factors, and tell you what your interest rate will be.
Q10. Does an auto loan help me repair my credit?
Yes, it does. Major lenders report your monthly payments to the credit bureaus. We use these lenders. When other lending institutions check with the Credit Bureau to verify your credit rating they give close consideration to an auto loan. (Note: buying your vehicle from a buy-and-pay-here lot, "in-house" lender or a credit union, that doesn't report to a credit reporting agency, does nothing at to help repair your credit record.)
Q11. Why should I use Elgin Chrysler, rather than a lender at a typical dealership?
As you may have discovered already, if you have credit problems, your experience at a typical dealership likely won't be a happy one. Attitudes and courtesy change at many dealerships when they learn your credit isn't perfect . At Elgin Chrysler we treat all of our clients with utmost respect throughout the entire process and take into account your wants and needs when helping you select a vehicle.


Elgin Chrysler Ltd.

275 Wellington Street
Directions St. Thomas, ON N5R2S6

  • Sales: 5196332200

Virtual Showroom Hours

  • Monday 12:00am - 11:59pm
  • Tuesday 12:00am - 11:59pm
  • Wednesday 12:00am - 11:59pm
  • Thursday 12:00am - 11:59pm
  • Friday 12:00am - 11:59pm
  • Saturday 12:00am - 11:59pm
  • Sunday 12:00am - 11:59pm
  1. Elgin Chrysler Ltd.

    275 Wellington Street
    St. Thomas, ON N5R2S6

    • Sales: 5196332200
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