Get A Car Loan With No Credit
How to Get a Car Loan With No Credit in Norval-Georgetown, Brampton and Surrounding Area
Buying Your Car With No Credit History?
Buying a car is an intimidating process, and if this is your first time it can seem more difficult that it really is. If you have little or no personal financial history then you will not have a credit score. Many lenders will not consider making car loans with no credit because they do not have a way to gauge the risk in lending to you. Don’t let this worry you, as there are many lenders who will make these kinds of loans.
Make sure that you document everything on the loan application as thoroughly as possible such as if you have any assets they can be used as collateral against the loan. Also, if you are employed be sure to accurately report your income as this will show you have the ability to repay. If you have a healthy bank account balance, you will be deemed a more credit-worthy borrower on the assumption that you have financial sense. Some lenders also provide special offers and terms to students or military service members, so be sure to mention if you belong to either group.
Another way to get financing is to have a co-signer. Someone with a good credit history can partner with you on the loan and that way you can get a lower rate and more favorable terms. Of course you should only ask someone you know well and trust to cosign a loan with you, since the co-signer shares responsibility with you to repay the loan. If you default, your partner will be expected to make the payments.
We will work closely with you as we prepare all the applicable documentation. Then we will select one of our lenders that best suites your unique situation. We have secured loans for many people who, for whatever reason, had yet to establish credit. Please fill out our secure credit application to begin the process, one of our Finance Experts will contact you shortly.
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.