Auto Source Financial has worked with Financial Institutions like TD Canada Trust and Scotia Bank to provide its customers with a loyalty program. This program is designed to help people who have had past credit problems and wish to secure a vehicle loan. Due to the high risk of lending people with bad credit the program is based on your ability of repayment.
You will be granted a conditional loan to purchase a New or Used vehicle at a higher than average interest rate, this rate is based on your income, job stability, past credit issues and the age of the Vehicle you wish to purchase. Upon completing 10 months of payments on time without any reminders you will be granted a guaranteed approval for a New Vehicle loan for 8.9% interest.(Which is the Prime Rate for Good Credit Customers)
To take advantage of this offer you will have to trade your existing vehicle in on a New Model Year Vehicle.
Example:
Your initial purchase is a 2005 Honda Civic LX Sedan for $15,000.00 Plus Taxes
Based on Booking Chart your payment would be $480.00 per month @ 24.50 %
After 10 Months you trade the vehicle back in to Auto Source Financial and Get a Brand New Vehicle. If you have maintained your Vehicle Auto Source will give you what you paid for it against your new Vehicle.
You drive away in a 2009 Honda Civic LX Sedan 24,890 Plus Taxes
Based on Booking Chart your payment would be $480.00 per month @ 8.90 %
“ Your payment doesn’t change but your Interest Rate and Vehicle Will ”
The best way of taking advantage of this program is to find a vehicle you like that when trade in will give you the same monthly payment on your New Vehicle. Try to be realistic about the amount you can truly afford per month as your payment will reflect the amount you can borrow and the type of vehicle you can purchase.
Remember Auto Source Financials advisors are trained in all types of credit issues and will work directly with you to get the vehicle loan that best suits your needs. As part of their service Auto Source will consult you for free on your existing credit and how to bring your credit score and rating back to an A1 rating.
For more information about Car Leasing for New Immigrants or Foreign Students in Canada visit www.autosourcefinancial.com. Auto Source specializes in all makes leasing and Car, Truck and SUV loans for people with No Credit, Bad Credit in Canada.
Filed under: 1 | Tagged: bad credit car loans bc, bad credit loans, bad credit rating, bd credit car loans bc, buy a car, car loan, car loan BC, Car loan foreign student Canada, credit application, credit rating, Foreigner Car Loans Canada, free credit report canada, free credit reports canada, free equifax, Getting a Car Loan, Getting a Car Loan | Tagged: bad credit car loans, interest rate, new cars, no credit auto loan bc, no credit british columbia, No Credit Car Lease, no credit car loan foreigner, No Credit Car Loans, No Credit Leasing BC, poor credit, student car loan bc, student car loan Canada
Jeez..These days its tough to get the finance you need to buy a decent car. Seems my credit isnt the best and everyone I talk to seems to want a big downpayment or just says no. Times are hard for those who who dont have a good credit record, dont you think?