1- Traditional Clients – those in bankruptcy, proposal, or credit counselling. SAME DAY as their filing, with no down payment (only standard fees and pro-rate apply)
2- “Mid-Prime” Consumers – those with a Beacon of 550+, or under 550 with supporting verification. All forms of legal income accepted.
3- Self-Employed – tax returns not required in all situations
4- Student or New Immigrant VISAs – 20% down, up to 60-month lease term, regardless of length of VISA. (For example, if an applicant’s VISA expires in 18 months, we can still write their lease over 48-60 months, yielding a significantly lower monthly payment)
All payments are reported to Equifax. That makes this the strongest credit-rebuilding program available. Nothing builds individual credit faster than 36 perfect payments on a car loan.
Please note, we finance core business (*consumer proposal or bankruptcy clients); clients with a 550+ Beacon; clients in consideration of financing 500 – 550 Beacon; or those new to the country looking to establish credit. Should the client fall outside these criteria, we would only advance an amount equal to the Ontario Wholesale Book + your documentation fee (up to $999), and any extended warranty (up to retail, max gross $1,000)
Should you wish to proceed under the conditions above, or if the applicant has a co-signor who does qualify under the aforementioned criteria, please submit the remaining information required for our standard adjudication process, and we would be happy to conduct a further application review!