Car Loans

A Car Loan from Tandia keeps you in the driver’s seat.

Let’s face it – whether you lease or borrow-to-own a car, it’s an expensive undertaking, plain and simple.  It’s not unusual to see a price-tag on a new car that’s as much as the cost of an average house only a generation ago.  The low monthly payments advertised with car leases can be appealing, but there’s more to leasing a car than the payments.  Anyone who is in the market for a new set of wheels should consider both the pro’s and con’s of leasing before ruling out borrowing-to-own.

Advantages of leasing Expand/Collapse

  • You can usually keep your monthly car payments lower than if you purchase.
  • You can usually drive a more expensive car than if you purchase.
  • There can be a tax advantage if you drive a car for business purposes.

Disadvantages of leasing Expand/Collapse

  • You don’t own the vehicle.
  • You can be subject to end-of-lease charges for excess mileage and wear-and-tear. 
  • Inflexible terms – if for some reason you need to end the lease early, you can be subject to a penalty for early termination.  Think it couldn’t happen to you?  It can happen to anyone… job loss, auto theft or an accident.

Advantages of borrowing-to-own Expand/Collapse

  • Our loan payments can be as low as lease payments.
  • Payments will be based on the purchase price of the car including taxes (for qualified applicants).
  • Competitive rates.
  • You own the vehicle.
  • You can sell the vehicle at any time with no interest penalty for paying off the loan.
  • You can modify the car any way you choose (paint or after-market options).
  • There’s no mileage restrictions or worry about excess wear-and-tear.
  • You can be car-payment-free some day and have some equity to show.
  • For additional peace of mind, we offer affordable creditor life and disability insurance to protect your family from financial risk.
  • You have control and stay in the driver’s seat.

Get started now

You can apply online, in-person at your branch or by phone - call our Member Solutions Centre at 1.800.598.2891.


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