Financing for your Lincoln

MGM Lincoln invites you to discover the exceptional experience of Lincoln luxury. Explore how effortless it is to own a Lincoln vehicle. Take advantage of our numerous finance and leasing options to embark on your journey with Lincoln today.

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Financing Your Lincoln Vehicle

What's your budget?

Our online calculator lets you find the best finance alternative for your lifestyle.

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Your interest rate for car financing is affected by your credit score. You can check your credit status with us without affecting your score!

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Why MGM Lincoln financing

We can tailor a payment plan that suits your needs, whether you choose to finance, lease, or pay cash with a certified cheque or bank draft.

First-time buyer

We recognize that some car buyers, particularly young individuals, may not possess a credit history, a down payment, or a trade-in vehicle. Nonetheless, you need not be concerned since we collaborate with Canada's top banks to present adaptable financing and leasing alternatives that cater to your preferences.

Bad or no credit

We acknowledge that credit history can pose a difficulty for certain individuals. Regardless of whether you have a poor credit score, have been declined a bank loan, or have gone through bankruptcy, we are available to assist you. Our financing professionals are dedicated to collaborating with you and discovering a cost-effective solution that meets your financial plan, irrespective of your credit circumstances.

New to Canada

When relocating to Canada, it's important to know that your credit score won't transfer over.

High rate on an existing loan

We may be able to help you reduce your payment and obtain a better finance rate by purchasing your existing loan through our parent company, Go Auto.

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Finance vs. lease?

When deciding on financing versus leasing, what's right for one person can be totally wrong for another.

What do I need to
get approved?

Employment & income

Normally, you must have been employed at your present occupation for a duration of three months or longer and receive a minimum of $1,800 per month. In addition, certain types of government assistance may also be considered as a valid source of income.

Down payment

While a down payment may not always be mandatory, it can be beneficial in many cases. The smaller the amount you need to finance, the greater the likelihood of your car loan approval by the lender.

Driver’s license

Having a valid driver's license and reaching the age of majority in the province of residence is mandatory.

Current address

In order to finalize your loan application, the lender will require your current address information, including your monthly rental or mortgage payment.

Bank account

Lenders prefer to withdraw monthly payments from your bank account automatically. The simplest method of accomplishing this is to obtain a void cheque or a stamped pre-authorized payment form from your bank.

Contact details

To apply for a car loan, you will need to furnish your complete name, date of birth, telephone number, and email address.

Paying off your MGM Lincoln car loan

Paying off your loan early

Several banks allow you to pay off the outstanding amount after a certain period of time, typically six months. You can inquire with your bank or us to determine if this option is available.

Changes to payments

Nearly all lenders permit customers to make lump-sum payments or increase their regular payments. You can get in touch with us or your lender for further information.

Extending a loan term

After the loan agreement has been finalized, most lenders are unlikely to extend the financial terms. However, you can confirm with MGM Lincoln's finance specialists or your lender to determine if an extension is feasible.

Car loan insurance

While car insurance is a familiar concept, did you know that you can also insure your car loan? In the event of job loss or illness, how would you manage to make your regular loan payments? Insurance can provide you with added protection. Please inquire with MGM Lincoln to learn more about this type of insurance.

Affordable financing

If you have a low income, we can offer a solution to meet your automotive requirements! If you earn at least $1,800 per month, you may be eligible to obtain a car loan.

Switching a loan to another vehicle

If you are looking to change your vehicle while still paying off your existing car loan, we can assist you with this process. We can help you choose your next vehicle, pay off the balance of your current loan, and incorporate any remaining amount into your new agreement.

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Getting a MGM Lincoln car loan and managing it

Is it better to finance through Lincoln or the bank?

Choosing between financing through Lincoln or a bank depends on several factors, such as your credit score, income, and financial goals. Financing through Lincoln may be more convenient for those who prefer to have all their financing and vehicle-related services in one place, while a bank or credit union may offer more flexible terms and interest rates. It's important to shop around and compare offers from different lenders to find the best financing option that suits your needs and financial situation.

How can I make my Lincoln payments?

If you are looking to make payments on your Lincoln vehicle in Canada, there are a few options available to you. Firstly, you can sign up for pre-authorized payments, which automatically withdraws payments from your bank account on a regular basis for added convenience. Alternatively, you can set up Lincoln as a payee on your online banking platform and make payments directly from your bank account. 

Mailing a cheque or money order to the address provided on your billing statement is also an option, as well as making payments over the phone through certain banks' telephone banking services. Finally, you can visit your bank branch in person to make a payment. If you require more information or assistance with making payments, you can contact Lincoln's customer service.

Can I defer my payment to Lincoln Finance?

Lincoln Financial Services may offer payment deferral options, but it ultimately depends on the terms of your specific financing agreement and your individual circumstances. You should contact Lincoln Financial Services directly to inquire about their payment deferral options and eligibility requirements. They will be able to provide you with the most accurate and up-to-date information regarding your account and any options available to you.

Does the Debt Waiver program apply during the deferred months?

To confirm whether the Debt Waiver program from Lincoln Finance applies during deferred months, it is recommended to contact them directly. They will have the most accurate and up-to-date information regarding their program and policies. You can reach out to them through their customer service hotline or online portal.

How do I prepay for my Lincoln in full?

Call us or your lender and we will see if we can arrange for you to prepay for your vehicle. 

How do I report a total loss by my insurance company to Lincoln?

In case your financed vehicle has been written off, you should contact your vehicle insurance company as the first step. Once you and your insurance company have agreed on a settlement, the insurance company will issue a cheque payable to all policyholders and Lincoln Automotive Financial Services. After receiving the cheque, make sure that all payees sign the back of the cheque and mail it to the following address: Box 1800 RPO Lakeshore West, Oakville, ON L6K 0J8. You should then contact Lincoln Automotive Financial Services for further instructions.

If you are a lease customer and your vehicle has been written off, please contact your vehicle insurance company to obtain a claim number. After receiving the claim number, contact Lincoln Automotive Financial Services, and we will work with your insurance company to settle the claim. Once the settlement has been reached, we will reach out to you with further instructions.

It is important to keep in mind that if the insurance settlement is less than the amount remaining on your loan, you are responsible for the outstanding balance. Conversely, if the insurance settlement is more than the remaining balance on your loan, Lincoln Automotive Financial Services will issue a refund cheque for the difference.