Where can I apply for a car loan without a credit check in Toronto?

Where can I apply for a car loan without a credit check in Toronto

?

You have probably heard of the sub-prime business before, it is the loan service many dealership offers today. These types of car loans are not the same as the typical bank loans because they are geared towards people with bad or no credit. A typical bank loan for a car if you have a good credit standing with your bank, will run you from 8 to 9 percent of annual interest rate. But a bad credit car loan on the other hand will cost you 19% and higher in interest rate, but your chance of approval is much higher. Even when applying for these types of loans, since it is still coming from the banks they will require to pull a credit bureau or credit score on you just as a procedure.

If you have been turned down from these service providers before, that usually means your credit score is too low, or too risky for the banks to lend you any money. If you don't need the car badly enough, that would be your rock bottom service provider and should be your last resort for a car loan. But if you are like many Canadians today who is troubled by their credit history, but really need a vehicle for your family or work there is still one last resource you can try. It's called the "no credit check" car loans, these types of loans are much rare to find but they do exist.

A no credit check car loan will usually require a small amount of down payment, and the money will be lend to you from the dealership directly. Since this type of lending practice is private in nature, they do not require a credit check at all. Hence the name no credit check car loans, they may carry a very similar interest rate, but for some one who can not get approved in any other way, this is the only way to get a loan. The top no credit car loan provider in Toronto is called "Benchmark Automotive Group" you can find them online at http://www.benchmarkautomotive.ca/nocreditchecks.php or call 416-877-2419.

This article is brought to you by SOS Car Loans; please visit us online for your instant approval at http://www.soscarloans.com or for more valuable tips on bad credit car loans.

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