If you have been bankrupt and discharged or you’re entering into Bankruptcy there is help for you should you require a car loan.
Presently the Only Financial institution that will grant you a car loan while you’re still in bankruptcy proceedings is TD Financial Services. Once you have made 3 payments to your trustee you could qualify for a TD Vehicle loan.
TD Financial services Non-Prime division will contact your trustee to assure you can afford the new car payment and also check that you have paid as agreed with your trustee. Upon confirmation of this from your trustee TD Financial Services will grant you a car loan with rates starting from 10.9%, however you’re most likely to first get a higher rate starting off at about 18.5-24.5%. Don’t get to worried about the interest rate as TD financial Services does grant lower rates once you have proven your ability to pay after 12 months.
To get the lower rates you will have to make 10-12 timely monthly payments, meaning your payments must be on time without any interruptions, like you asking for a couple of days to pay etc. Once you have made your timely payments TD Financial Services will give you a preferred customer status and allow you to trade your existing vehicle in at any participating Car Dealer and get a brand new car loan rate of 9.9%
Working with companies like Auto Source Financial or Credit Car Canada they can assist you if getting your first vehicle loan through TD financial Services and then work with you after 10-12 Months to trade your existing vehicle in and get qualified for your low rate of 9.9%. These 2 companies work directly with you to make sure you get your financing in place and then work with you to keep your credit improving until you are back to perfect credit in Canada.
So if you require a no credit car loan, car loan in bankruptcy or a car loan after bankruptcy contact Auto Source Financial or Credit Car Canada to help you get re-established.