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A. The DriveFaster finance process is fast, competitive, and features offers tailored for specific customer needs. If you have bad credit, no credit or a low credit score, we will insure that the right partners are working with you that can assist you best with an approval.
A. Our customers use DriveFaster because banks are set up to only help people with good credit, and most dealerships will not have access to the specific financing programs that they need. Being in the sub-prime and credit industry, we have worked with all of our partners and know that they are best able to help you achieve your goals buying and financing your new car.
The major advantage to using our services is that we have ensured that the finance partners that we work with have departments that specialize in helping people with bad credit, no credit or low credit scores. This is how we have been able to play an instrumental role in helping thousands of Canadians find affordable cars, trucks, and SUVs. Even if you have had a bankruptcy, foreclosure or collections on your credit report, we have lenders that will be more than glad to help you get rolling.
A. The finance process at DriveFaster is simple: submit a credit application. We will review your credit application with our network of lenders, and, if approved, they will help you decide which finance offer and vehicle suits you best. We know credit and we know and in many cases you will gain the advantage by working with us to help improve your credit while applying for your auto loans.
A. Filling out an application will take approximately two minutes. After that, you will hear back from one of our dealership partners within 24 hours.
A. We only ask for the information that we need to help you find an approval. By knowing your location and a bit about your financial circumstance, we are able to determine which partner will have the highest chance of finding you an approval at the best rates.
A. Our minimum requirements are that you are the age of majority in the Province that you reside in, and that you are a permanent resident in Canada. Other than that, we are happy to accept applications from people in all types of financial circumstances.
A. You can apply for financing online at DriveFaster. Use one of our easy to fill credit applications or if you so choose, chat or call us to complete your application over the phone. It’s that easy!
A. Financial institutions typically take four major factors into account:
A. Your credit score is designed to help financial institutions predict the risk associated with your purchase of a car, house, credit card, etc. Essentially, it’s meant to forecast how (and if) you will pay your bills. If you have a low credit score please check out www.creditcanada.net and ask about their credit improvement programs. If you have errors or mistakes on your credit report please check out www.canadacreditfix.com for help with your credit repair.
A. Your credit score is designed to help financial institutions predict the risk associated with your purchase of a car, house, credit card, etc. Essentially, it’s meant to forecast how (and if) you will pay your bills.
The higher your credit score, the greater your chances will be getting financed. Four contributors to your credit score are:
A. The major credit-reporting agencies below can provide you with information about your credit history. Both can provide you with a copy of your credit report, which includes your credit score. Contact them via the Internet or call toll free:
Toll-free: (800) 465-7166
Toll-free: (800) 663-9980
Free Credit Reports
Toll-free: (866) 530-3646
A. Our partners will offer you highly competitive terms, reduced time and effort, and a transparent transaction.
A. Our finance sources provide offers to accommodate most credit profiles. Even with past problems, you will still get the credit you need, the car you want, and respect you deserve at DriveFaster.
A. Many DriveFaster customers qualify for financing on their first vehicle purchase. If a normal credit determination cannot be made based on your current credit history, you may still qualify for other programs, like those for recent college graduates. Stipulations for college students vary by finance company. We have great new programs designed and tailored for first time how buyers.
A. Your past credit history, the type of car you’re buying, your down payment, and overall market conditions will all affect the finance rate for which you can qualify.
We offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile. You can learn more about your personal finance options by filling out a credit application and allowing our network of lenders to find you the best rate and vehicle for your specific needs and credit conditions.
A. Down payment, the amount financed, term (length of contract), and annual percentage rate (the yearly cost of a loan) all affect the monthly payment.
A. The rule of thumb from most financial institutions is to spend no more than 15% of your gross monthly income on your car payment. For example, if you make $2,000 a month you should spend no more than $300 on your car payment.