Recently Migrated and have no credit history in Canada? Looking for a car with no credit car loans? Working or Studying in Canada as a temporary resident? Getting an auto loan with no credit background can often be difficult. Financial institutes can’t assess your background and become hesitant to lend money. Some of the financial institutions may require larger down payments, proof of income, or a local guarantor to mitigate the risks on their investment. No credit car loans are now a reality with us!
Non-Residents and Recent Immigrants need to present some essential documents for an auto loan application. The most important piece of document would be a Canadian Driver’s License. You would also need to provide your visa or immigration documents that indicate your type of residency and the duration of your stay (if you are residing in Canada temporarily. It’s important to note that the loan term must end three months prior to your visa expiration date, as financial institutions will not lend you money based on future possibilities of extending your visa. It’s much easier to get a car loan if you’re a permanent resident in Canada or if you’re on a work visa with a sponsored employer. When buying the car of your dreams rest assured we can guarantee the lowest rates whether you are new to Canada or not! If you have bad credit or even no credit we can still process your application get you a no credit car loan and also help you get your credit score higher in the process! That is what we call a win-win situation in our books!
Your credit health is improved by paying your utility and credit card bills on time and setting up auto-payments for loans and rents. If you have not developed a credit background yet, it’s alright. 902 Auto helps you develop a good credit through proper financial advice. Our financial consults not only help you get an auto loan, but they also help you develop a good credit history that benefits you in the long run for any kind of loan application. Check your eligibility with our quick pre-approval quiz, and one of our consultants will reach out to help you choose your car.