Get A Car Loan After Bankruptcy
How to Get a Car Loan After Bankruptcy in Norval-Georgetown, Brampton and Surrounding Area
Getting approved for a car loan after bankruptcy is not beyond reason. In fact we have provided auto loans for many of our customers who recently had a bankruptcy.
Steps That Lead To An Approval
Credit Report Analysis
Take the time to thoroughly review your credit report with both Equifax and TransUnion, you may find some discrepancies that you can easily correct. Also, ask both bureaus to include a memo as to what hardship lead to your Bankruptcy.
Planning Your New Vehicle Purchase
Make a realistic detailed budget so you can easily prove your ability to successfully make your new loan payments. This will enable us to negotiate the lowest interest rate and shortest term for your new loan. We don’t want to be under the burden of a loan that you will never be able to gain equity.
An Honest Explanation is Valuable
Most lenders will want a person who had a recent bankruptcy to explain what happened and to give some evidence that it will not happen in the future. The more prepared and detailed you are the more helpful it will be to getting an approval and positively affecting your interest rate and term.
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Get A Car Loan Today is located in Norval-Georgetown, Ontario and also serves Brampton, Mississauga, Vaughan, Milton, Orangeville, Oakville, Burlington, Barrie, Newmarket and surrounding areas.