Do you want to re-establish or establish your credit and do not know where to begin? We can both advise and help you re-establish your credit with an Auto Loan.
Collections, Bankruptcy, Lien, Judgment, Write Off, Repossession, Foreclosure … to name a few major credit problems that must be addressed on your Equifax and Trans Union credit report (also called credit bureau). This is the only way a credit score will ever increase enough for you to get a loan with a good interest rate especially for a Mortgage or Auto Loan. The BEST way to re-establish your credit is to take on a loan and pay it off. We will illustrate how to get the loan and save you thousands of dollars in interest while paying off your loan.
Many Canadians falsely believe that if they wait long enough after their credit issues occur, they will qualify for a loan with low interest rates. This is not the case. While most credit issues remain on your credit bureau for seven years, once they are removed, you find yourself in a situation of having No Credit! No credit is viewed as worse than bad credit because the lender has no background information to consider while deciding on your loan. So once again, you may be approved, but with high interest rates.
Two examples of interest rates saved when reports are cleaned up and repaired. The top one is a 30 year mortgage at only $100,000. The second one is a regular five year loan at only $20,000