Car Loan during Bankruptcy

Car Loan During Bankruptcy

Buying a car during bankruptcy is not easy, but there are a few lenders in Canada that will finance you for a car loan or truck loan. Many Canadian car loan companies specialize in bad credit financing. By applying at Toronto Car Loan you will be connected to a network of dealers and lenders across Canada who specialize in this type of financing.

Buying a Car During Bankruptcy

There are a few things to keep in mind when looking for a car loan during bankruptcy:

If you in a bankruptcy and need an auto loan, we can help, but there are some things you should know:

• We can get you approved but the interest rates will be higher than normal rates as you are considered to be a high risk loan

• You may be required to have a down payment

• Although you will be making payments towards you loan, you cannot repair your credit until you are discharged from the bankruptcy

• Regardless of how much money you earn, you will be approved for an amount under $15,000

• If you desire a more expensive vehicle, no problem....then you will need to come up with a larger down payment.

Have more questions? Fill out our contact form and we will get back to you with the answers.