Can I get approved with bad credit?
We work with lenders of varying risk tolerance, giving you options to secure approval regardless of your credit score.
What interest can I expect?
Interest rates vary by buyer, from OEM rates to higher subprime rates. Contact us to see what you qualify for.
Do I need a down payment?
It depends. We aim to work with your preferred down payment, but lenders may require more to reduce risk. Our job is to find a balance that fits your finances.
Can I apply for credit if I don't have a co-signer?
A co-signer is not mandatory. However, for a guest that has credit challenges a good co-signer can help improve the likelihood that your deal is approved.
Will this affect my credit score?
No, this is a pre-approval tool that uses your information and bank data to estimate which financial institutions are likely to approve your deal.
What information do I need to provide?
This pre-approval collects your personal, financial, and employment details to estimate approval likelihood with various lenders accurately.
How long does pre-approval take?
Each applicant will vary in fill time, but the process should take five to ten minutes.
What factors determine my approval?
Whether a pre-approval or full credit application, items such as income, prior credit history, credit score, or debt-to-income ratio.
What types of financing options are available?
New and used car financing and leasing options are available.
What happens if I'm not pre-approved?
No sweat. This was a pre-approval. This has no negative impact on your credit score or credit bureau.
What is a credit application? What is a pre-approval?
A credit application provides lenders with your background to assess risk and approve your deal. A pre-approval uses this information to estimate your approval likelihood without submitting it to lenders.
How do I know if I'm eligible to apply?
Everyone with a registered Ontario address is eligible to apply for a pre-approval.
Do I need credit history to apply?
A previous credit history will increase the likelihood of a pre-approval but is not mandatory.
Is there a minimum income requirement?
No. However, if you are a candidate who is employed in a full or part time job, it will increase the likelihood of a pre-approval.
How can I build my credit if I don't have any?
You can build credit by making on-time payments on debts like credit cards, mortgages, student loans, or car loans.
Can I apply for a vehicle loan if I'm new to Canada?
Newcomers to Canada are eligible for financing, even without established credit in their new country. Let us help by understanding your financial situation and matching you with the best lending institution.
What do I need to complete my pre-approval application?
The pre-approval application will ask a guest for items such as address, personal identification, income, rental/mortgage, or debt-to-income ratio.
Will the credit application be in my name or a joint application?
The pre-approval is for one person, but you can add a cosigner to improve approval chances. Each application is for a single applicant.
How can I improve my chances of getting pre-approved?
These factors can boost your pre-approval chances: down payment, a cosigner with credit history, your own credit history, stable employment, rent payment history, and a low debt-to-income ratio.
We work with lenders of varying risk tolerance, giving you options to secure approval regardless of your credit score.
Interest rates vary by buyer, from OEM rates to higher subprime rates. Contact us to see what you qualify for.
