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Secure Used Car Financing Approval in Minutes!

At Lebada Motors, we are your trusted used car dealership serving Cambridge and the Kitchener-Waterloo area. With over two decades of experience, we specialize in providing used car financing solutions for every credit type, ensuring that everyone has the opportunity to drive a quality vehicle. Our extensive inventory features a diverse selection of second-hand cars from top brands, all meticulously inspected to meet our high standards.

We work with a network of over 10 lenders to offer competitive rates and flexible terms. Whether you have excellent credit, poor credit, or are a first-time buyer, our auto finance specialists are dedicated to making the financing process straightforward and stress-free. Discover your next vehicle with confidence at Lebada Motors—where we turn your automotive dreams into reality.

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FAQ

What credit score do I need to finance a used car?
For the best possible interest rates, 650+ is ideal, but financing options are available for scores as low as 500 with higher interest rates.
Can I finance a used car with bad credit or no credit?
Yes, many lenders offer options for bad or no credit. You can improve your approval chances by providing proof of income, a co-signer, or a larger down payment.
What are the interest rates for used car loans?
Currently interest rates range from 7% to 25%, depending on your credit score, loan term, and vehicle age. Excellent credit can secure rates as low as 6.5%. If you’re looking for the best used car loans, we can help you get the best deals!
How much should I put down for a used car loan?
Downpayment is not required to get approved, but can help your chances by showing you are invested in the purchase. A down payment of 10-20% of the car’s price is considered a good investment. A larger down payment can reduce your monthly payments and total interest.
What loan terms are available for used car financing?
Loan terms usually range from 36 to 72 months, with some lenders offering terms up to 84 months.
How can I get pre-approved for a used car loan?
Pre-approval can be done online or in person with banks, credit unions, or dealerships. You’ll need personal information, proof of income, and employment details.
Can I use my current car as a trade-in?
Yes! Trade-ins can be applied as a down payment, and the value will reduce the amount you need to finance.
Are there any hidden fees in used car financing?
At Lebada Motors, we pride ourselves on being completely transparent. There are no hidden fees when you finance with us. Any applicable charges, such as loan origination or optional warranties, will be clearly explained upfront so you can make an informed decision.
Can I refinance my used car loan later?
Yes, refinancing is possible if your credit improves or interest rates drop, potentially lowering your monthly payment or interest costs.
How do I know how much I can afford?
Your car payment should generally not exceed 25% of your monthly income. Use our online loan calculator to estimate payments. Financing a second-hand car has never been easier with flexible terms and transparent processes!