Finance with Us

We have negotiated with several lenders in efforts to streamline the finance process for you

Benefits of financing with Gyro Mazda

  • Discipline of fixed payments
  • Fixed rates
  • Competitive borrowing costs
  • Match term with depreciation
  • Open loans

Customers perception of Personal line of credit

  • Perceived interest cost savings
  • Prime rate is has gone up 0.5% since July 2017 to 3.45%. Your LOC could be1.5% to 5% over prime.
  • Loss of emergency fund when used for vehicle purchase
  • Loss of investment opportunity (RRSP, RESP, TFSA, GIC or Real estate)
  • Loss of opportunity to pay down mortgage
  • Our loans are fixed and competitive vs. LOC which is Variable.

Discipline

  • Line of Credits allow you to make interest only payments (the never never plan)
  • Dealer plan loans are referred to as “installment credit”. You are building equity in your vehicle.
  • If paying cash, there is no opportunity to establish credit for better rates on future investments.

Early Loan Termination — at any point you can pay off the full remaining value of the loan without any

Historical Prime Rate Canada

Date of Change MCAP Prime Rate
January 18, 2018 3.45
September 7, 2017 3.20
July 13, 2017 2.95
July 17, 2015 2.70
January 29, 2015 2.85
September 9, 2010 3.00
July 21, 2010 2.75
June 2, 2010 2.50
April 22, 2009 2.25
March 4, 2009 2.50
January 21, 2009 3.00
December 10, 2008 3.50
October 23, 2008 4.00
October 9, 2008 4.50
April 24, 2008 4.75
March 5, 2008 5.25
January 23, 2008 5.75
December 5, 2007 6.00
July 11, 2007 6.25