You are a new resident of Toronto, Canada and it is time to buy your first car here. You will be happy to know that receiving a car loan in Canada is a very similar compared to the US and other countries’ car loan process. We will work with you and get you approved for a guaranteed car loan, even with bad credit.
Hopefully, you have begun establishing a credit profile in Canada, or have an existing credit history in your previous country. Your credit score will be your biggest asset in becoming approved for a car loan in Canada, especially if your credit score is particularly high. In these cases, many car lenders will not even ask for your social insurance number (SIN) and treat you like a permanent Canadian resident.
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As a new resident in Canada, it is likely you have a 9-series SIN number. These are exclusively issued to Canadian residents the fit the following criteria:
- Foreign student
- Foreign worker
- Temporary resident
- Refugee Claimant
In other words, the 9-series of SIN numbers are for residents who are not yet permanent Canadian citizens. You may be planning to stay in Canada for the rest of your life, but a lender may see that “9” and classify you as a risky, temporary resident. Apply online or over the phone and begin the adventure to your first car in Canada.
If you need to get approved for a bad credit car loan in Toronto, Canada www.newcarcanada.ca/torontoon/ is your best choice. They approve 99% of working applicants from Toronto regardless of credit history or credit score. As long as you’re earning $1800+ per month you will get approved and then you can pick the new car you want to drive.
Are you from Toronto or surrounding area? Check out new car Canada and get approved for a car loan within 24 hours.
Learn How Fast It is to Receive Fair Credit Car Loan Financing