Repayment of loan
You can decide whether to repay the loan with one installment or with timely monthly payments. Either way, timely auto financing repaying will preserve your credit score. You also may decide to set up a pre-authorized payment where money will be transferred directly from your account to the lender's account on each agreed date of the month.
Loan extension
Canada Drives allows its customers to extend loans over a long time. For that, you need to call the Help Centre toll-free phone +1 (888) 877-2898 or send a request at the special form on the official website and discuss the possible arrangements. However, as much as this could give you a monthly rate that you are comfortable with, it will raise the interest.
Early repayment
It is quite possible if you would like to pay off the loan earlier than the estimated time. Canada Drives allows the borrowers to add some cash on the loan's regular monthly payment or settle the loan once and for all.
You may also consider refinancing the current vehicle via the company's website.
Debt collection methods
Canada Drives always issues a constant reminder to ensure that paying your loan does not escape your mind when the time comes. However, if it has been 150 days since your last payment and there is no communication, the lender will send your debt to a collection agency.
