Going bankrupt or filing for a consumer proposal is never a fun experience. We at Auto Loan Solutions fully understand that life events may have impacted your credit and your ability to get a car loan. Auto Loan Solutions has highly trained and fully certified Finance Managers to help clients all over Ontario to get you approved for a car loan with ease. Don’t let bankruptcy or a consumer proposal stop you from getting an affordable car loan.
Getting a car loan after a bankruptcy or a consumer proposal can be a complicated and time-consuming experience, but here are some helpful tips that can make the process easier:
1. Clarify Your Priorities.
When purchasing a car after a bankruptcy or a consumer proposal, make sure to have a realistic list of what you need in your future vehicle. Think about the practical features that this vehicle will need to have. Understand that getting a car loan with credit challenges limits your vehicle options. Having a list of practical necessities makes it easier for our Finance Managers to help you find an affordable and safe car that meets both your needs and the auto loan approval. Think about the purpose of your vehicle, how many passengers will regularly drive with you, and how much you’re able to spend on gas each month.
2. Identify Your Budget.
It’s important to be aware that after a bankruptcy or a consumer proposal, your car loan approval rates may be higher than average for a period of time. Consider having an estimated budget for monthly car payments, one that allows you to comfortably manage the car loan and other monthly bills.
Having manageable car payments allows you to rebuild your credit while you’re on the road, as long as you’re making those payments on time and consistently. At Auto Loan Solutions, our Finance Managers will work hard to get you approved for a low-interest car loan that fits your monthly budget, even after a bankruptcy or consumer proposal
3. Find The Right Company.
Looking for the right car loan company after filing for a bankruptcy or a consumer proposal can be overwhelming. Many car loan companies online will promise to get you the car of your dreams, but will instead sell your information to an actual dealership. Once in contact with this dealership, you’ll soon find yourself disappointed when there are no sales reps trained to handle applicants with credit challenges, including bankruptcies and consumer proposals.
Auto Loan Solutions has staff specially trained to handle any kind of credit, regardless of bankruptcy or consumer proposal filings. Auto Loan Solutions is also a proud member of the Humberview Group, which has 29 dealerships and over 5000 certified vehicles in their inventory.
4. Start Driving While Rebuilding Credit.
Once you get a car loan that fits your needs and your budget, it’s vital to make your monthly payments on time to rebuild your credit. Getting a car loan after a bankruptcy or a consumer proposal can significantly increase your credit score, as it is an installment loan payment. Making payments on time on an installment loan demonstrates to lenders your ability and commitment to repaying your debts. Many customers who make their car loan payments on time, are able to refinance their vehicle at a much lower interest rate in as little as 12 months.
Getting a car loan after a bankruptcy or consumer proposal can be a difficult process, but it doesn’t need to be! An auto loan company who works hard to meet your personal and financial needs can get you back on the road as soon as possible. Here at Auto Loan Solutions, Ontario’s largest specialty auto loan company, we help hundreds of clients just like you get into a reliable vehicle at an affordable rate. Apply with us.
Everybody from the top to bottom was amazing, especially Chase.
Great salesman, great job. Thank you.
I really love the van. I was very impressed when it finally arrived. Going to take time to get used to. Also grateful with the staff and all their hel...
Yes very happy with process. Easy, service was excellent.
Scott was very helpful. We had a tiny mix-up but he fixed it within a timely manner. He got me the car I wanted. Richard was a great driver. He was in...
Nice dealing with these people.
Jessica helped me a lot on getting my first car in this country. She contacts me every time for updates and she did very well on her job.
From start to finish this company has been very professional. They helped me every step of the way. So grateful to have contacted this company.
We loved the services that we received from the agency. If I had to do it all over again, I would. Pleasant people all around. I thank you so very muc...
Alan and Paul were very helpful and made a promise to satisfy my needs and kept it. They were very understanding and polite, especially Alan. Thank yo...
First, I would to start off with thank you all very much for your help, especially Richard for all your help coming early to the office to help me fin...
Amazing service! Would definitely recommend!