Low or NO CREDIT Options
At International Auto Depot we have strong relationships with various financial institutions – so we can help you find you the best rates that suit your lifestyle.
We’ve got options for you and our finance specialists will work hard to help you get into the vehicle you need!
Borrowing With Bankruptcy
If you’ve declared bankruptcy, you may be thinking that you have no lending options available to you. Don’t panic, our finance specialists are here to help you find lending options that you can afford, so you can get the vehicle you need. With our outstanding relationships with many major lenders, we can help you find the best option.
Such as your: drivers license, social insurance number, passport or even your birth certificate. We recommend that you bring 2 forms of ID with you – this will prove who you are and can save you time, money and a hassle.
Proof of Employment
Showing proof of your employment through pay stubs will help to show lenders that you can safely take on the auto loan you’re looking to get. If you are past your probationary period at work (usually around 3 months), then you are considered to have steady employment in the lending world. By showing your record of employment, you will be able to speed up the loan process and may even get access to higher loan amounts
Lenders will need to know how much you earn in order to calculate what you can safely afford. Having this information ready before you come in will help to save you money and time. With this information, lenders will quickly be able to tell you how much money you are approved for on your auto loan.
A cosigner is a person who agrees to be responsible for your debt if you find yourself unable to make the your payments. A cosigner helps lenders feel more at ease about lending you money as they know that the odds of getting repaid are greatly increased if you miss your payments. Banks usually prefer if your cosigner is a parent or spouse. With a cosigner, you should have access to better interest rates and higher auto loan amounts that will give you more options in choosing what vehicle you purchase.
Don’t be afraid to tell our financial specialists about your possessions. Your assets have great power in the lending world. If you have low or no credit, proving that you can afford high-ticket items such as previous auto loans will help to show lenders that you have enough cash flow to cover costs.
A good credit history will help to speed up the loan process and possibly give you access to better interest rates and more lending options. A good credit rating helps to show lenders that you are reliable and can make regular payments on time. That being said, lenders will be looking at factors outside of your credit history as well, so don’t fret!