Having bad credit can feel like a never-ending cycle. You pay off a bill, which makes you late on your other dues, in turn lowering your credit score, increasing your perceived risk and causing applicable interest rates to skyrocket. Getting help while caught in this cycle can seem impossible, but we are here to tell you it’s not.
Companies, like ours, can facilitate automotive loans for Canadian individuals with damaged credit, those who are new to the country, are widowed or divorced, or those who haven’t yet established a credit history. We help you by connecting you with a dealer in our established trust network who can offer you the best loan option for a new or used vehicle purchase.
Differences between CarLoans411.ca and other financial institutions
There are a few major differences between us and a bank or other financial institutions. First, banks take a much longer time to review and process your application; we can process yours in just a few hours and connect you with a local lender. Second, many financial institutions want people with bad credit to have someone co-sign for him or her. We will only ask for one if it’s absolutely necessary or if you don’t have money for a down payment. Third, they are unwilling wit work with people who have a bankruptcy in their history, while we have helped lots of post- or current bankruptcies find a reliable automobile. And lastly, the lenders we work with can offer customized loans with either variable or fixed rates, as well as adjustable amortization and payment periods. Banks and other financial institutions have much fewer resources to draw from to offer the customer options.
Since banks, credit unions, etc… deal with a huge range of credit and loan products it’s difficult for them to offer flexible auto loan options. We are able to provide much more affordable loans because that is our sole service and focus. Therefore, we can extend our services to more individuals with diverse credit situations.
While this may seem like very basic information it can be a huge relief for people with bad credit to know they are not alone and that there are companies who can help.
Whether you’re looking for a new vehicle now or sometime in the future, remember that CarLoans411.ca can help. There is no charge for filling out and filing your application with us; it’s 100% free! And there are no obligations, even after the lender contacts you with your options. You don’t pay until you’re happy. Now there nothing preventing you from getting a new vehicle, not even that pesky credit score.