Ontario's Largest Specialty Auto Loan Company
Apply Now

Bankruptcy & Consumer Proposal Car Loans

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:

Tips for Getting a Car Loan After Bankruptcy & Consumer Proposal

 

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.

trust-auto-loan-solutions

Quote
Everything was to my satisfaction!

Nancy C - May 12th, 2017 - Chatham, ON

RatingRatingRatingRatingRating
Quote
Quote
All I have to say is that you helped a lot, even though it was because of my credit.

Raghd A - May 4th, 2017 - Ottawa, ON

RatingRatingRatingRatingRating
Quote
Quote
Everything was great, very happy. Thanks for going the extra mile for me and my brother.

Chris A - June 16 2017 - Belleville, ON

RatingRatingRatingRatingRating
Quote
Quote
The car is great and the delivery man was very nice and professional. Chase did a great job finding us a car at a great price and rate.

Kathleen O - Jun 26th, 2017 - Peterborough, ON

RatingRatingRatingRatingRating
Quote
Quote
Perfect human, great service.

Milica M - May 2nd, 2017 - Mississauga, ON

RatingRatingRatingRatingRating
Quote
Quote
Great helpful (very).

Kerri S - May 3rd, 2017 - Warsaw - Lake Field, ON

RatingRatingRatingRatingRating
Quote
Quote
The process and service was {great} and the staff was resourceful and helpful. Thank you.

Amandeep A - May 16th, 2017 - Windsor, Ontario

RatingRatingRatingRatingRating
Quote
Quote
What an easy way to buy a car! My initial contact was Gina she took my info and processed everything. Then I dealt with Jess and she confirmed info and got some more info. Then later on in the day talked to Raymond who found me the loan I wanted and the best interest rate and found me the suv I wanted with the extra warranty . Then it was back to Jess to finalize everything and arrange for the delivery. 5 days from start to finish. I had been searching for a car for a while and had so much stress. This team made my experience buying a car so easy that I will never try to do it on my own again.
Thanks for the great service Jess, Gina and Raymond

Mary Ellen Churchill - June 13th, 2017 - Ramara, ON

RatingRatingRatingRatingRating
Quote
Quote
Sunny has made the experience easy and enjoyable.

Justin M - June 15, 2017 - Niagara Falls, ON

RatingRatingRatingRatingRating
Quote

Ready to Get Started? Apply Now