A consumer or business' credit history is tracked by credit rating agencies on a regular basis. The data reported by these agencies is primarily provided to them by creditors and includes detailed records of the relationship a person or business has with a lender. Detailed account information, including payment history, credit limits, high and low balances, and any aggressive actions taken to recover overdue debts. Any and all of the above are reported on a monthly basis. This information is assigned a grade/score and can difficult to navigate by potential lending companies whose policies and/or parameters shift on a monthly basis. This is where our experience pays off as we study these policy changes and choose a specific lender or even a specific loan feature in a lenders portfolio

In Canada there are just a few credit bureaus. Credit bureaus offer another service to potential lenders in the form of credit score. Credit scoring is the process of using a mathematical algorithm to create a numerical value that shows the full picture of an applicant’s creditworthiness. Scores, frequently based on numbers (ranging from 300-900 for consumers in the North America), are used to statistically analyze a credit history, in comparison to other debtors, and value the level of financial risk. Since lending money to a person or company is a risk, credit scoring offers a standardized way for lenders to assess that risk rapidly and "without prejudice”.

Credit scores allege to assess the likelihood that a borrower will repay a loan or other credit obligation. The higher the score the better the credit history and the higher the probability that the loan will be repaid on time. When creditors report any number of late payments, or trouble with collecting payments, it has a negative impact on your credit score. Similarly, when negative judgments and collection agency activity are reported, even bigger "hits" on this score are suffered. Repeated hits can lower the score and trigger what is called a negative credit rating or adverse credit history. Your credit history will also determine what type of interest rate you will be required to pay when you get your car loan.

A consumer or business' credit history is tracked by credit rating agencies on a regular basis. The data reported by these agencies is primarily provided to them by creditors and includes detailed records of the relationship a person or business has with a lender. Detailed account information, including payment history, credit limits, high and low balances, and any aggressive actions taken to recover overdue debts. Any and all of the above are reported on a monthly basis. This information is assigned a grade/score and can difficult to navigate by potential lending companies whose policies and/or parameters shift on a monthly basis. This is where our experience pays off as we study these policy changes and choose a specific lender or even a specific loan feature in a lenders portfolio

In Canada there are just a few credit bureaus. Credit bureaus offer another service to potential lenders in the form of credit score. Credit scoring is the process of using a mathematical algorithm to create a numerical value that shows the full picture of an applicant’s creditworthiness. Scores, frequently based on numbers (ranging from 300-900 for consumers in the North America), are used to statistically analyze a credit history, in comparison to other debtors, and value the level of financial risk. Since lending money to a person or company is a risk, credit scoring offers a standardized way for lenders to assess that risk rapidly and "without prejudice”.

Credit scores allege to assess the likelihood that a borrower will repay a loan or other credit obligation. The higher the score the better the credit history and the higher the probability that the loan will be repaid on time. When creditors report any number of late payments, or trouble with collecting payments, it has a negative impact on your credit score. Similarly, when negative judgments and collection agency activity are reported, even bigger "hits" on this score are suffered. Repeated hits can lower the score and trigger what is called a negative credit rating or adverse credit history. Your credit history will also determine what type of interest rate you will be required to pay when you get your car loan.

Our auto loan service is for anyone looking to purchase a vehicle, regardless of credit history. If you have good credit, bad credit, no credit history, or you need a second chance loan, we can guide you through the process of selecting a vehicle at a very competitive price and finance rate

No problem, don’t give up even if you’ve been refused elsewhere. We have the know-how, the expertise and the contacts to accommodate you. If you have been turned down, just communicate you’re circumstances and we will take the time to explain what needs to be done for you to get approved for a bad credit auto loan.

After submitting your application, you will get a response by email within an hour if you applied during our business hours: M-F 8:00 a.m. to 9:00 p.m. (Eastern), Saturday 9:00 a.m. to 6:00 p.m. (Eastern), Sunday 10:00 a.m. to 5:00 p.m. (Eastern). Once your auto loan is approved, all that remains is to schedule an appointment where we will walk you through the stipulations from the lender. Even the best credit has stipulations that need to be fulfilled. Some applications may take a little longer, but we typically complete the approval process in 24 hours.

Our lenders determine interest rates, influenced by a number of factors—including the age of the vehicle, severity of credit difficulties, your employment stability, and degree of credit risk, home ownership etc, etc…. When our Car Loan Credit Managers contact you, they will explain these factors, and help inform you as to what your interest rate will be.

Yes, it does. When lending institutions check with the Credit Bureau to verify your credit rating, they place a significant amount of importance on a car loan. Other than a home loan, this is the highest level of consideration to an auto loan. (Note: buying your vehicle from a buy-and-pay-here lot, that doesn’t report to the credit reporting agency, does nothing to help repair your credit record.)

As you may have discovered already, if you have credit problems, your experience at a dealership is stressful, uncomfortable and possibly even embarrassing. Imagine, get your credit approved and walk in knowing you’re approved, knowing how much you can spend and even possibly, already knowing what you want to buy. Attitudes and courtesy change when a dealership learns your credit is not perfect. If the dealership has a second chance finance department, you were probably shown a limited selection of low quality vehicles that don’t match your needs or expectations. By completing our FastApp you can avoid this situation and be in control of your automotive purchase. You can select ar vehicle confident that we have pre-qualified and pre-approved you as our customer.

You can choose model years that are 2002 and newer BUT before you select an older vehicle let our Car Loan Managers explain a Carloanprofessionals.ca program that allows you to get into a 1 year old or current model year vehicle for the same or nearly the same as older ones. This is not a gimmick it is actually a logical reality once we explain it to you.

Absolutely! We will work with you in order to get you top dollar for your trade-in vehicle.

No. If we do require a cash down payment, the lender will communicate this in there offer. If so, it is usually a small amount often less than 5%. Ex: a $10 000 vehicle is only $500 down. In most financing situations, cash down is not required. We can usually include all the financial transactions in your monthly payment.

Once you submit your application it is encrypted for transmission and then stored with industry-leading security on our servers. Firefox, Microsoft Internet Explorer and other web browsers are compatible with this form of encryption. All the application pages will display the "secure icon" in your browser indicating that the information you enter on these pages will be transmitted securely.

New cars can depreciate as much as 20-30% in the first 2-3 years*. As a result, insurance payouts can be much lower than the vehicle purchase price-even for those with full coverage. GAP (Guaranteed Auto Protection) insurance is additional protection to cover this "gap" between what one owes on a financed vehicle and its actual cash value, which is usually lower.
As an example, let's say you borrow $26,000 for a new car and its totalled one month later. In the eyes of the insurance company, that vehicle has likely depreciated up to 30% (or about $7800) immediately after you drove it off the lot. Without GAP insurance, you could pay the full difference between what you owe to your lender and what your insurance company pays out to you! You can see why it's important.
Please note that GAP insurance is cancelled after refinancing a vehicle. Those who plan to refinance for greater savings, and are currently covered, will need to reapply to maintain it.

Our auto loan service is for anyone looking to purchase a vehicle, regardless of credit history. If you have good credit, bad credit, no credit history, or you need a second chance loan, we can guide you through the process of selecting a vehicle at a very competitive price and finance rate

No problem, don’t give up even if you’ve been refused elsewhere. We have the know-how, the expertise and the contacts to accommodate you. If you have been turned down, just communicate you’re circumstances and we will take the time to explain what needs to be done for you to get approved for a bad credit auto loan.

After submitting your application, you will get a response by email within an hour if you applied during our business hours: M-F 8:00 a.m. to 9:00 p.m. (Eastern), Saturday 9:00 a.m. to 6:00 p.m. (Eastern), Sunday 10:00 a.m. to 5:00 p.m. (Eastern). Once your auto loan is approved, all that remains is to schedule an appointment where we will walk you through the stipulations from the lender. Even the best credit has stipulations that need to be fulfilled. Some applications may take a little longer, but we typically complete the approval process in 24 hours.

Our lenders determine interest rates, influenced by a number of factors—including the age of the vehicle, severity of credit difficulties, your employment stability, and degree of credit risk, home ownership etc, etc…. When our Car Loan Credit Managers contact you, they will explain these factors, and help inform you as to what your interest rate will be.

Yes, it does. When lending institutions check with the Credit Bureau to verify your credit rating, they place a significant amount of importance on a car loan. Other than a home loan, this is the highest level of consideration to an auto loan. (Note: buying your vehicle from a buy-and-pay-here lot, that doesn’t report to the credit reporting agency, does nothing to help repair your credit record.)

As you may have discovered already, if you have credit problems, your experience at a dealership is stressful, uncomfortable and possibly even embarrassing. Imagine, get your credit approved and walk in knowing you’re approved, knowing how much you can spend and even possibly, already knowing what you want to buy. Attitudes and courtesy change when a dealership learns your credit is not perfect. If the dealership has a second chance finance department, you were probably shown a limited selection of low quality vehicles that don’t match your needs or expectations. By completing our FastApp you can avoid this situation and be in control of your automotive purchase. You can select ar vehicle confident that we have pre-qualified and pre-approved you as our customer.

You can choose model years that are 2002 and newer BUT before you select an older vehicle let our Car Loan Managers explain a Carloanprofessionals.ca program that allows you to get into a 1 year old or current model year vehicle for the same or nearly the same as older ones. This is not a gimmick it is actually a logical reality once we explain it to you.

Absolutely! We will work with you in order to get you top dollar for your trade-in vehicle.

No. If we do require a cash down payment, the lender will communicate this in there offer. If so, it is usually a small amount often less than 5%. Ex: a $10 000 vehicle is only $500 down. In most financing situations, cash down is not required. We can usually include all the financial transactions in your monthly payment.

Once you submit your application it is encrypted for transmission and then stored with industry-leading security on our servers. Firefox, Microsoft Internet Explorer and other web browsers are compatible with this form of encryption. All the application pages will display the "secure icon" in your browser indicating that the information you enter on these pages will be transmitted securely.

New cars can depreciate as much as 20-30% in the first 2-3 years*. As a result, insurance payouts can be much lower than the vehicle purchase price-even for those with full coverage. GAP (Guaranteed Auto Protection) insurance is additional protection to cover this "gap" between what one owes on a financed vehicle and its actual cash value, which is usually lower.
As an example, let's say you borrow $26,000 for a new car and its totalled one month later. In the eyes of the insurance company, that vehicle has likely depreciated up to 30% (or about $7800) immediately after you drove it off the lot. Without GAP insurance, you could pay the full difference between what you owe to your lender and what your insurance company pays out to you! You can see why it's important.
Please note that GAP insurance is cancelled after refinancing a vehicle. Those who plan to refinance for greater savings, and are currently covered, will need to reapply to maintain it.