Getting A Car Loan After Bankruptcy In Atlantic Canada

To many people, bankruptcy usually signifies the END. It represents financial ruin and the impossible task of rebuilding your credit score; for obtaining car loans. If you think that you have no chance to get a car loan after bankruptcy in Canada, you’re wrong!

Bankruptcy is nothing to be feared or dreaded. In fact, it is more common than you might think. A survey by the Canadian Government revealed that 1 in every 6 Canadians would file for bankruptcy at least once. You need not worry about how it might affect your chances of getting a car loan; reputable lenders are willing to approve you.

Hayden Auto Agencies also partners with many dealerships that offer in-house financing and specially tailored programs for individuals with bad credit. Filing for bankruptcy doesn’t have to be the end; you can obtain car loans in Canada easily.

Managing Your Expectations

The reality is that filing for bankruptcy means you won’t qualify for standard loan terms. Take the time to become fully aware of the interest rates and terms of your loan. While you are less likely to be approved for a splurge on a brand-new expensive car.

Hayden Auto Agencies is here to help connect you with your chosen vehicle; with the right lender that covers your budget. The process of buying a car on bad credit can take a bit longer than usual. But Hayden Auto Agencies is there to make the process effortless and stress-free.

Finding The Right Lender After Filing For Bankruptcy

The key is to find lenders who are willing to work with you through bankruptcy and provide you with funding. Hayden Auto Agencies brings you in direct contact with the perfect lender for your budget. Giving you the opportunity to be in charge of your regular payments so as to reflect positively on your credit score. When you provide us with your location and financial information, we instantly match you with partner lenders giving you the highest approval chances.

Getting Your Credit Report And Credit Scores

Improving your credit score might not be too easy, but a clear understanding of where you stand financially is important; especially after bankruptcy. Keep a close tally of your credit score to ensure the lenders aren’t making any mistakes. Auto lenders use a credit scoring model that favors positive growth of your credit score. Pay on time monthly, and you will start to see an evident change.

Refinancing Your Car Loan

Making consecutive on-time payments on your car loan will reflect positively on your credit score. In just 6 to 12 months, you could get a chance to start refinancing your car loan at a lower interest rate.

Get Started Today

Should refinancing your car loan after filing for bankruptcy be so worrisome? You’re right; it shouldn’t be! Hayden Auto Agencies offers professional help in getting you a local dealership that can help secure and provide financing for your car.

Whatever your financial situation, we have you covered.

If you would like to get all the information you need to get started, do fill the short form below. We also offer a comprehensive no-obligation assessment of how best to upgrade your car, for much less.

Fill the form below, and get started on your journey to better credit.