Weak credit history builds up when a person is not able to pay the payments on time and struggle to manage the debts incurred. Because of this, a person assumes that with weak credit history car financing options are difficult to be permitted.
Here is the guide for those who have a bad credit history for car financing.
How this works
A clean score is difficult to maintain while maintaining and juggling between several kinds of debts such as mortgage and others. This is where we offer multiple choices to our customers who have a weak credit history.
If you believe that not having a robust credit history can reduce the chances to get loan approval for a car and it will shatter your dream. Then fear not, we help you to make your chances better.
If you have not been successful in getting car financing, then we will provide you with our best support. There are financing support choices that might be feasible for you if you have a debt consolidation plan or Individual Voluntary Arrangement.
The first step for customers is to thoroughly ensure their credit profile. Make sure everything stated in it is fine and the latest. There are guidelines that assist in refining your credit history for forthcoming.
Also, customers should know that if they don’t have any kind of debt or involve in any kind of financing then they don’t have a history. This means that lenders will not be able to evaluate how robust and dependable you are and they might put you raise a flag.
Don’t be afraid, we are here to guide customers who are facing the same issue. We want to bring their dream car closer to them and get them out of the bad situation.
Make sure to make payment installments of your previous bad credit borrowings to re-erect a sturdy credit history in the longer run, which will open the doors for further choices for financing.
How we can assist you
First, we evaluate what is the affordable monthly installment that you will be able to pay over the period of time without any difficulty.
There are options where the initial deposit is zero
After application approval, a NOC quote will be given. Every customer is assigned a personal account manager to answer any query that a customer can come across.
Our one of a kind tool for calculating approximate repayments can help you to further evaluate your debt financing.
Our pool of lenders specializes in the field of providing loans to those who have a weak car credit history. The documents requirement can depend on the situation but some of the important documents are:
- Original License
- Evidence of Address
- Evidence of income (salary slip or anything equivalent)
Good news for self-employed that our lenders have no discrimination for them and self-employed can also avail of this option even with weak credit history.
It is to be noted that is based on application approval
After the application is accepted, all you have to do is select your dream car from any reliable Canadian dealership and we will support you to find the best car that fits for you.
Our services are not limited to the car only, we also finance bikes and vans.