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Lender
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Gamache

Finanso.Multilogin™

About lender

Gamache is a Canadian company that over 40 years, has become a leader in the purchase, restoration, and resale of trucks and trailers in Quebec. As part of Gamache's operations, G-finance successfully works with customized solutions for the sale, purchase, lease, and trade-in of trucks and heavy equipment.

The business of agriculture, large trucks, and heavy equipment has many peculiarities, and traditional financing organizations usually do not have specialists tailored precisely to this business. As a result, they cannot understand your project as well as someone who is absolutely on the same page with you. For this reason, Gamache has decided to fill this gap. As a result, they stand out in the lending market, even though they are not a bank.

They state that the financing is at the lowest possible interest rate to support those who work with trucks and equipment.

Gamache Financing has a particular group of consultants who will analyze your project and offer you the best possible solutions from a win-win point of view.

According to official information, Gamache financing offers a range of products:

  • On-site financing when you buy a vehicle or equipment;

  • Accommodation for sales offers, i.e., financing your potential buyer at competitive interest rates;

  • Facilitating the purchase of your truck, even if you buy it from another company. You are not obligated to buy it from Gamache to get the most favorable terms for financing your deal;

  • Refinancing, if your loan expires with another institution, Gamache is ready to step in.

  • In addition to the above services, Gamache works with leasing programs and conditional sales.

Features

In addition to just financing, G-financing allows you to get additional services you need instead of just being sold a service or loan product. You can have your project analyzed and receive professional advice on the best options considering your interests and budget.

If you need a service for your trucks or equipment, you can get a complete package of services and spare parts there.

Selling and buying equipment and trucks means high investments and tax consequences. The company analysts are competent enough to advise you on this matter and correctly prepare the relevant documents.

The company has a good reputation in the market. In addition, the suitable size of the company makes it possible to offer customers favorable prices without compromising quality.

Pros and Cons

When choosing a company to support the financial and documentation side of a deal as large as buying /selling trucks and equipment, it takes an excellent analysis to make the right choice. Gamache, in particular its G-finance division, offers its customers several advantages.

Pros

  • The company has a long history in the Canadian market;

  • It has its financial advisors for preliminary analysis and support of the project;

  • The company declares to offer moderate interest rates for financing your business;

  • You can consider more than just a loan: leasing, trade-in, conditional sale, or refinancing, where the approach is less formal than the bank. Your situation will be thoroughly analyzed.

  • The company works with the guarantees; the possibility of getting a pre-approval, so you can get an idea of whether it suits you and know what financing options you can rely on when you decide to sign a contract;

  • Even if you did not purchase your truck from Company, you could still receive financing for your purchase;

  • You can get advice from the company's financial advisors about your deal and the tax implications.

Although many good things come with being a customer of this company, some things could be considered negatives when deciding where to get your financing.

Cons

  • The company states that the interest rate for financing is moderate, but the company's website does not even give a general idea of APR;

  • There is no information about eligibility requirements, i.e., whether the loan is offered for all of Canada or only for some states;

  • There is no information about the loan terms and the loan term, grace period;

  • The company does not indicate whether or not it collateralizes trucks and equipment;

  • Customer support is not available 24/7, or at least this is not mentioned in the official sources;

  • There is no information about the company UBO;

  • There is no information on whether the company reserves the right to sell receivables to third parties, such as collection agencies, etc.

  • G-Finance does not openly inform about which financing and repayment methods are available;

  • there is no information on whether a guarantee is required and whether it is possible to arrange early repayment or extension of the loan;

  • it does not say how many loans can be approved at the same time or whether you can have only one loan at a time and apply for the next after full repayment. Also, it is not clear what period must elapse from the date of repayment;

  • Speaking of modern technologies: the company does not have an application form on its website;

  • there is no member login or personal account information, and it appears that borrowing is done offline;

Financing through Gamache Group has many advantages, such as a good reputation, the company's experience in this niche of trucks and equipment, and professional financial advisors.

As for the disadvantages, the main one is probably the lack of clear information on the official website. Apart from the list of possible loans, you need to contact the company directly and only then get the information you need. If you are used to analyzing applying for a loan to compare the possible loan options and conditions, this will take longer as you would have to call at least or wait for your email request to be answered.

Loan conditions

Gamache Group does not offer fixed loan conditions, nor does it provide standardized solutions. Instead, it declares to be able to customize its program for the needs of every particular client.

Methods of loan funding

The company does tell how exactly it funds its loan, but usually, the funds are transferred to the client’s bank account.

FAQ

What is Gamache?

Gamache has a robust and active presence in Quebec, Canada, and the United States. In addition, through its subsidiary Gamex, the Gamache Group sells used trucks and spare parts in 35 countries worldwide. Through its ongoing commitment to excellence and customer service, Gamache Group has earned a solid reputation as a leading provider of premium used heavy-duty trucks and parts. Gamache Group management has a team of dedicated specialists. 

Who owns Gamache?

Information about UBO and the shareholders is currently not available.

Richard Gamache (President) and his brothers Serge Gamache (Vice-President – Operations) and Christian Gamache (President – GAMEX) have run the company for over 20 years.

Is Gamache a legitimate company?

Gamache was duly registered back in 1971. The company is duly registered in Canada and provides all services officially. The company has an official website, registered office, and accurate contact information. Open sources do not supply ownership information, but information about the company's management, financial advisors, and representatives is available and up-to-date.

How does Gamache work?

According to the available information, Gamache works offline and offers some consultations remotely (email, phone, contact form).

The specifics of the business and the high value of the equipment and trucks do not allow it to work online with applicants, as payday organizations do. Aside from the amounts involved in the projects, borrowers are interested in a detailed approach and quality services.

The company operates Monday through Friday from 7 a.m. to 5 p.m. and on weekends by appointment.

How do I contact Gamache?

Gamache offers several contact options that you can conveniently choose from.

If you would like to speak with Gamache live, please contact 450-246-3881 or 1 855 338-3881.

The office address is 609, rue Principale, St-Paul-de-L'Ile-aux-noix J0J 1G0 Quebec, Canada.

How trustworthy is Gamache?

Gamache is duly registered in Canada and has provided services for over 40 years. The company has an official website and corporate email addressIn. In addition, information about the company's management is available in open sources.

Does Gamache verify income?

There is no information about the income verification procedure. At the same time, the lender must ensure that the borrower can repay the loan, as trucks and heavy equipment are expensive.

Does Gamache hurt your credit score?

Gamache is a reputable company with no intention of hurting your credit, according to its mission statement. However, in doing so, it is essential to understand that when you take out a loan for a truck or heavy equipment, you are borrowing a substantial amount that must be repaid according to the terms of the agreement with the lender.

For 50 years, Gamache has been a leader in the acquisition, restoration and resale of used heavy trucks and trailers in Quebec.

© Gamache

What to pay attention to when applying for a loan from Gamache

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes Gamache from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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