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Canada
Aug 23, 2017

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Bankrupty

Put your bankruptcy behind you with a new vehicle loan

Many banks view bankruptcy as a formidable obstacle; a credit blemish that is hard to overcome; a negative mark on your credit score that speaks of your trustworthiness.

However, the truth is that many people who have declared bankruptcy in the past are good people who have simply fallen on hard times. They didn’t intentionally get into debt, know that they couldn’t repay their creditors, or buy frivolous, expensive items they knew they couldn’t afford.

No, many people who have filed for bankruptcy just got in over their heads. Perhaps they struggled after a job loss or experienced a medical emergency that wiped out their savings. Whatever the case, you can get a car loan after a bankruptcy – you just have to know where to look.

So how do you go about getting a car loan with a past bankruptcy on your credit record? You could go into a bank or a car dealership, but chances are your financing options will be limited. They are not willing to take a chance on people; they just go by the numbers on paper.

For this reason, online vehicle financing is a good place to start. These are typically smaller businesses that work with local car dealerships on your behalf. They tend not to view bankruptcy so much as a credit failure, but as a fresh start. They have faith in people and know that most just want a reliable, quality vehicle that they can afford.

The online application process is simple. To apply:

  1. Fill out the online application questions in the privacy of your own home. You can even apply in the middle of the night if you want to!

  2. Submit the application, and then check your email inbox for instructions on how to log into your account. Once logged in, you can check the status on your loan application whenever you would like

  3. Receive a response. Most people are approved within hours, not days. You’ll receive an email with all the information you need to proceed with the car buying process