Paying financing off early in Canada

Unbuckled2579 · 10-09-2022, 07:10 PM

Are there any restrictions on getting a car financed and paying it off the next week if you feel like it. In Canada obviously but more specifically in Quebec.

PLF69 · 10-09-2022, 07:34 PM

Quote:

Originally Posted by Unbuckled2579

Are there any restrictions on getting a car financed and paying it off the next week if you feel like it. In Canada obviously but more specifically in Quebec.

I don't know think so, I sold my M4 after 1.5 months to another dealer and had over 100k financed so the balance was paid off by the dealer to BMW Canada.

Unbuckled2579 · 10-09-2022, 07:50 PM

Quote:

Originally Posted by PLF69

I don't know think so, I sold my M4 after 1.5 months to another dealer and had over 100k financed so the balance was paid off by the dealer to BMW Canada.

Appreciate the data point. I think I'll need to call bmw financial services and ask for more information. They don't show much on the website!

Seb910 · 10-09-2022, 09:39 PM

I have had two loans with BMO and RBC, I had no problem paying off everything the second day I took delivery. Doing financial is a great way to let the dealer earn from bank and then a portion of which becomes your "discount". I am in BC, and I guess QC could do the same? Laws there seem to lean more toward customers.

Habber · 10-09-2022, 10:51 PM

My SR (Quebec) said no issues if we pay it off right away.

Forzanerazzurri · 10-25-2022, 12:15 PM

No

10-09-2022, 07:10 PM	#1
Unbuckled2579 Private First Class 187 Rep 179 Posts Drives: 2023 M340i Join Date: Jul 2022 Location: QC iTrader: (0)	Paying financing off early in Canada Are there any restrictions on getting a car financed and paying it off the next week if you feel like it. In Canada obviously but more specifically in Quebec.
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10-09-2022, 09:39 PM	#4
Seb910 Registered 0 Rep 2 Posts Drives: 2022 BMW G82 M4C Join Date: Oct 2022 Location: Vancouver iTrader: (0)	I have had two loans with BMO and RBC, I had no problem paying off everything the second day I took delivery. Doing financial is a great way to let the dealer earn from bank and then a portion of which becomes your "discount". I am in BC, and I guess QC could do the same? Laws there seem to lean more toward customers.
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10-09-2022, 10:51 PM	#5
Habber Colonel 3515 Rep 2,005 Posts Drives: BMW M3 2024 Brooklyn Grey SOLD Join Date: Sep 2016 Location: Canada iTrader: (1) Garage List [9.83]	My SR (Quebec) said no issues if we pay it off right away.
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10-25-2022, 12:15 PM	#6
Forzanerazzurri Banned 6918 Rep 3,277 Posts Drives: E46 M3 Coupe/G80 M3CX Join Date: Jul 2021 Location: Alberta iTrader: (0) Garage List 2003 BMW M3 Coupe [0.50] 2022 BMW M3 Competi ... [5.12]	No
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