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Hey guys, for my fellow Canadians, I’m looking to finance an aventador s or sv, in the 500-550k price range. Based on your guys’ knowledge and experiences, which banks/finance companies in Canada are the best for exotic car loans, and also what are the typical down payments and incomes they look for?
 

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I don’t know about Canada, but in the US, on average, 20% down, and the salary of being able to afford ~400k/x (x=Months) of payment.

In this car segment is often a “if you have to ask” kind of thing.
 

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Current: SVJ, Pista, Urus, G80 M3 | Previous: 610, 580, Performante, Aventador
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Lambo dealers in Canada use various lenders. The top tier lender of course is Lamborghini financial which is for buyers with excellent credit and "legit" income meaning you can show a T4 with your income. Benefits of Lambo financial is they will have the best rate, better residuals but their leases are closed end.

The second lender is Pffaf, they're a popular lender among supercar dealers and they usually use Pfaff for for clients who are business owners but don't show their full income on their T4 for various reasons.

That said, Pfaff still uses the banks to fund supercars so they will still require a T4, proof of income like bank account statements, excellent credit and a 20-25% down payment. If you own a home that's a big plus, if you don't you will have to show proof you have investments. Down side is the rate will be high, anywhere from 6-9% and I believe they only offer 60 month finance. The last I heard was they've tighten up on lending because of COVID which usually means they will want more proof of income and more down.

There's other lenders out there,some of them are gone due to COVID or they've stopped supercar lending. They're alos the high interst lenders who don't care about credit reports but they usually cater to rich Chinese students. I know Autoone does loans but they don't seem like a popular choice among supercar dealers.
 

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Discussion Starter · #4 ·
Lambo dealers in Canada use various lenders. The top tier lender of course is Lamborghini financial which is for buyers with excellent credit and "legit" income meaning you can show a T4 with your income. Benefits of Lambo financial is they will have the best rate, better residuals but their leases are closed end.

The second lender is Pffaf, they're a popular lender among supercar dealers and they usually use Pfaff for for clients who are business owners but don't show their full income on their T4 for various reasons.

That said, Pfaff still uses the banks to fund supercars so they will still require a T4, proof of income like bank account statements, excellent credit and a 20-25% down payment. If you own a home that's a big plus, if you don't you will have to show proof you have investments. Down side is the rate will be high, anywhere from 6-9% and I believe they only offer 60 month finance. The last I heard was they've tighten up on lending because of COVID which usually means they will want more proof of income and more down.

There's other lenders out there,some of them are gone due to COVID or they've stopped supercar lending. They're alos the high interst lenders who don't care about credit reports but they usually cater to rich Chinese students. I know Autoone does loans but they don't seem like a popular choice among supercar dealers.
Thanks for the info man, you’re a great help. I spoke to Grand Touring previously when they had an SV (which sadly was sold), and they recommended me the major banks in Canada like RBC. However they did say that with COVID most of the banks are a little more strict with their lending, so that’s why I was wondering which would be the best lender to go with. Thanks again!
 

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The US has a deposit requirement of 20%, and you must have a salary that can afford the monthly payments of *400k/x (x=Months) to qualify.

When it comes to this segment of the car market, you often have to ask.
regards
wordfued
 
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