100,000 km
First Major Value Drop
Trade-in value falls sharply at this milestone. Buyers and dealers both know it, and your offers will reflect it.
How Motofi Works
Getting into your dream vehicle is easier than you think
Step 1
Tell Us What You Want
Share your vehicle preferences, budget, and credit situation in our simple 3-minute application.
Step 2
We Find Your Match
Our experts search across all major brands to find the perfect vehicle and financing for your situation.
Step 3
Drive Away Happy
Get approved at competitive rates and drive the car you actually want with payments that work for you.
Smart Timing
The Best Time to Upgrade Your Vehicle Is Before You Have To
If your vehicle is approaching 100,000 km, 150,000 km, or 200,000 km, you're at a critical window. Acting before these milestones can save you thousands and open doors that close quickly after.
150,000 km
Accelerated Depreciation
Depreciation speed picks up. Your loan balance may now exceed what your vehicle is worth on the open market.
200,000 km
Significant Equity Risk
At this stage, most lenders see high-mileage risk. Rates climb, trade-in value drops, and options narrow fast.
Why Upgrading Early Makes Financial Sense
Once you cross a mileage threshold, your negotiating position weakens. Here's what you gain by exploring your options now.
Protect your trade-in value
Act before the next mileage drop and lock in a stronger trade-in offer while your vehicle is still worth more.
Lower your interest rate
Newer vehicles often qualify for better financing rates, which can meaningfully reduce what you pay every month.
Get back under warranty
Moving into a newer vehicle before yours ages out means fewer surprise repair costs and more peace of mind.
Upgrade before equity disappears
Every kilometre you drive past these milestones is equity leaving your pocket. Moving early puts that value to work for you.
Trusted by Canadians, Coast to Coast
We help Canadians get into the vehicles they deserve.
All Credit Welcome
Prime, near-prime, subprime, rebuilding, new to credit, self-employed, newcomers. We work with everyone.
All Major Brands
Toyota, Honda, Ford, Chevy, BMW, Mercedes, and every other major brand. One place, many options.
Established Across Canada
Years of experience helping Canadians coast to coast get into vehicles they actually want.
Secure & Transparent
No hidden fees, no surprises. Just honest service and competitive rates for your situation.
Happy Customers Across Canada
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All credit types welcome: prime, near-prime, rebuilding, and new to Canada.
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Giving you the best selection, incentives and promotions.
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Rate Review
Are You Paying More Interest Than You Have To?
If you financed your vehicle with a high interest rate and have been making payments consistently for a year or more, there's a good chance your credit has improved, and you now qualify for significantly better terms.
You may qualify for a better rate if:
- You've made all your payments on time for 12+ months
- You haven't had any new collections or major negative marks
- You've been at the same job or income level for a year or more
- Your original loan was approved at a high interest rate due to credit history
What a better rate can unlock
- A stronger approval than when you first financed
- A lower interest rate that reduces what you pay every month
- Access to a better vehicle at the same or lower payment
Why keep paying more to the bank?
Motofi reviews your current financing at no cost and no obligation. In 3 minutes we can tell you whether refinancing or upgrading saves you money, and by how much.
Financing Savings Example
$20,000 loan | 60-month term (5 years)
Before: Current Loan
Interest Rate
18.99%
Monthly Payment
$518.70
Rate drops after review
After: Improved Financing
Interest Rate
9.99%
New Payment
$424.84
Monthly Savings
$93.86 / mo
That's $5,631.60 back in your pocket over 5 years
Good to know: We also explore trading in your current vehicle, as there may be a better deal available. Used vehicles typically carry higher interest rates than new vehicles.
New vehicles: 0% financing is available on select new models. If these example rates seem high, they are meant to illustrate what refinancing can save someone currently in a high-rate used-vehicle loan.
Example for illustration only. All rates and approvals subject to credit qualification.