Andrew was stuck – he didn’t know where he could get cash quickly. He has moved from one bank to another but his low credit rating couldn’t allow him om’n loan to get. He was stuck, with nothing to do. What he did not know was that he can make a loan get quick by the use of his car as collateral.

How does it Work?

We make use of your car as collateral to give jy’n loan. The loan structure is similar to any other loan on the market, whereby we advance you the principal vir’n given period. You have to repay the principal plus’n interest rate that one of our borrowers determine.

The principal on these loans refers to the total cost of your vehicle plus any other fees the lender imposes on you to make the loan possible. You have to pay off the loan in a predetermined period, usually 36, or 72 months. However, this period can be shorter or longer.

The lender you end up with costs that jy’n interest rate to cover for the expenses. This rate is gewoonlik’n percentage of the principle. The interest rate on car loans in Canada usually depends on the condition of your car and the perceived risk of the transaction. The interest rate is so low as 3.49 percent on pre-owned vehicles and 0 percent on new vehicles.

What do You Need to Qualify for Car Loans in Canada?

For you to qualify for these loans, you have to meet certain requirements. It includes:

Proof ofâ Stable Income

You need to be in a stable job for the past 3 months or more. It shows the lender that you can keep your job for longer, therefore, the management of the loan repayments.

The job must pay at least $ 1600 per month. It shows that you can not afford the payments. Our lenders also accept alternative sources of income, such as government subsidies.

a Valid driver’s license

You moet’n valid driver’s accident to qualify for our auto loans in Canada. In addition, you need to be 18 years or older to show that you’s a responsible adult who can not pay the loan back.

a Bank Account

The loan cash will be channeled via your bank account. In addition, most lenders will want to get automatic payment from your bank account, which is more convenient.

a Down Payment

Our lenders require you to pay something in the direction of the down payment of the loan. It is gewoonlik’n percentage of the principal. However, it is not mandatory. Some of our auto loans in Canada allow you to get the loan without any money down.

Auto Loans vir’n Bad Credit

a poor credit history are at times inevitable. Most lenders will not touch your application with a poor or no credit history. Don’t worry, we have the car loans that are tailored just for your situation. All you need to do is to your situation to us and we will give you the options.

Our Lenders

To give you the best car loans on the market, we have identified only the best lenders to give you the loans. We understand that the right auto loans in Canada can only be provided by the best borrowers. We have 15 top lenders that offer more than 300 unique car loans just for you.

What are You Waiting For?

We bied’n free consultation and online service that you can use at any time. We has a loan experts who understand auto loans and that are just waiting for your call to help you find the right loan today.

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