We here at Smart Start Credit know that buying a
vehicle while worrying about your credit rating can be a bit daunting. We want
to make sure that the process goes as smoothly as possible.
We have compiled a list of frequently asked questions that we get from our customers so you can learn more about the process and understand how we can help you get the vehicle that you deserve.
How can I get a vehicle with bad credit?
Don't let bad credit get in the way of you getting the vehicle you deserve. If you currently are employed and have a valid driver's license, we will work on your behalf to get you the vehicle loan you need. It can be as easy as a 5 minute application.
Do I need to provide a social insurance number?
No SIN is required but it can help your credit process. Sometimes the bank will request it to ensure they are pulling the correct information.
How do I get the vehicle that I want?
With Smart Start Credit it is simple.
First, we recommend that you set a budget so you can better understand what vehicles are available to you.
Second, browse our wide inventory and find the vehicles that interest you.
Third, book a test drive so you can determine if the vehicle fits your needs.
Once you've determined the vehicle you want we will then work with the banks to get you approved for your loan.
If you can't get approved for your dream vehicle today, Smart Start Credit will work with you to improve your credit situation to get you the vehicle you want in the future.
Will I need someone to co-sign my loan?
If you have a valid license and a job then you won't need a co-signer. However, a co-signer can sometimes help you get a better interest rate and terms from the banks.
Who will my loan be through?
Here at Smart Start Credit we work with dozens of lenders to get you the best opportunity for your vehicle loan. They all specialize in different credit situations.
Your payments will however come out of your bank account. The best thing part of our loans is that they are open ended - which means you aren't penalized for paying out your loan early! You can put money towards it at any time.
How do I get a lower interest rate over time?
We focus on teaching and helping people understand the complex credit industry. We will work with you to find ways to lower your interest payment. The best way for you to do this is making on time and consecutive payments.
Ideally after 1 year of clean payments, and if all other lines of credit stay the same or improve we can find ways to lower your payments. Job stability and making successful payments play a big role in lowering interest rates on loans.
I have been not approved before how will this time be different?
We promise that we put a 100% effort in to getting you a loan. Some of
the lenders we work with our competitors do not have access to. This gives us a
better opportunity to get you approved. If we cannot get you approved we will
inform you of what needs to be done in order to get you approval in the future.
We want to help you!
Can I pay my loan faster than the minimum payment terms?
Yes, you can - all of our loans are open ended. This means you can pay them off as quickly as you would like. As long you make the minimum payments you can do anything you please with the vehicle loan.
I am currently not working, can I still get a vehicle loan?
Yes, you may be able to get a loan but you will need a strong qualified co-signer.
I am new to Canada and not a citizen can I still get a vehicle loan?
Yes you can! Even though you are not a citizen of Canada you can still get a vehicle loan. You must have a valid work visa and be currently employed.
What type of vehicle can I get?
You can get any vehicle that fits your budget however most lenders will pre-approve you for a certain monthly payment limit. As long as we can fit your ideal vehicle into those payments then you can take it home!