subject: Can I get approved for a car loan without a credit check in Toronto? [print this page] Can I get approved for a car loan without a credit check in Toronto?
If you are reading this article that means you has done extensive research in the topic of bad credit or no credit car loans. You have probably applied to these loan providers numerous times and been turned down from them repeatedly. You may be aware of another type of loan that will require no credit checks at all, this is what we called "no credit check" car loans. These types of car loans are funded by private investors, or the car dealerships themselves. The requirements for these types of loans are as basic as your most recent phone bill, and a small amount of down payment. With the current economical down turn as well as the credit crunch in North America. Many Canadians today are been forced into the category of bad credit even with good incomes. Having access to a vehicle is something everyone should be able to obtain, but been marked as a bad credit applicant you will be disadvantaged to pay a higher interest rate, additional stipulations in your contract, and stiff penalty if the obligations are not met. But even with these types of loans the applicant needs to proof their credit rating to a degree, a credit bureau is required along the application. The reason for these types of security measures is simple, these loans are originated from the banks and having a credit bureau is the standard practice for these bank institutions. On the other hand the "no credit check" car loan providers are mostly privately owned, and many of these loans are generated from the dealerships themselves. Since it is unofficial type of loan from the business owners themselves, it is not required to have a credit report when you are applying. These loans do exist for people that require financial assistance to obtain a car loan, and one of the top no credit check loan provider in Toronto is "Benchmark Automotive Group" you can find it online at http://www.benchmarkautomotive.ca/bad-credit-car-loans-whitby.php This article is brought to you by SOS Car Loans, your credit specialist when it comes to used car financing. Visit us online for more helpful articles at http://www.soscarloans.com
