Car Loan No Credit – No Credit Auto Loan Financing in Canada
Lack of credit history should not stop you from getting approved an auto loan approval. A no credit car loan may be available from a lending company in Canada. You just need to do research and make sure you are working with a car dealer that understands your situation and has relationships with financial institutions that are able to handle a no credit auto loan.
If you are considering a no credit car loan, there are some preliminary steps you can take to make yourself a better candidate:
Establish a Chequing and Savings Account with a bank or credit union – Lenders like to see that you are responsible and haven’t overdrawn your account. They also need to see some financial activity.
Apply for a Credit Card – You can use and pay off a credit card to build up some credit history. Gas and department store cards are generally easier to get. As a last resort, you can get a secured credit card which requires a deposit. It’s important to make sure that the card issuer reports to a credit bureau. Otherwise, building up a history would have no advantage.
Maintain a Steady Background – Lenders usually award applicants with a steady employment and residence history. Having a utility and phone number in your name can also be quite helpful.
All Canada Cars No Credit Car Loan Services
We can help you with your no credit car loan needs and requirements. We work with a large network of car dealers who specialize in this area of financing. A local auto dealer in your area has access to a number of financial institutions and will shop around to find you the best deal – best rates and best terms – on a no credit car loan.
Simply fill out our quick and easy application, and you’ll be on your way to getting your new car! The service is free and you are under no obligations.