Credit checks are necessary but shouldn’t be a worry for you. Our company has very high acceptance rates and great relationship with lenders that are focused towards poor credit. Therefore there is a great chance of finding the best deal.
We offer great rates and you will find poor credit auto financing here. This additional collateral could be a property or any other asset and you will be required to show proof that you own the asset before being granted the loan. Bear in mind that if you fail to repay the loan, the lender might seize the collateral and take possession of it.
A no-credit-check vehicle loan is a secured loan in which the purchased vehicle is part of the loan's collateral. But that is not all since vehicles decrease in value over time, lenders require an extra collateral to be able to secure the loan without the need of running a credit check.
What Does No Credit Check Car Loans Entail? We do not blame you for not knowing the answer to this question, many of our customers have no idea of their existence either. And it is a pity, because if they did, they would have already obtained a loan long ago.
Who Can Apply For Such Loan?
Many years of experience in this field in Canada have shown us that this loan is particularly good for those who have recently gone through bankruptcy or foreclosure. This loan can be perfect for fixing ones credit and also for establishing it. How does credit fixing work? Well, once you are granted the loan and the car are bought, you will have to begin repaying the loan. After a few months of timely and accurate repayment, it will be reflected on your credit history and, most likely, your credit score will improve.