September 19, 2014

FAQ

Why use Credit Rebuilder

At Credit Rebuilder we help people whom the banks are unable to due to bad credit, no credit, and bankruptcy. Our partners specialize in helping those with credit problems buy a vehicle by approving car loans, which will help you rebuild your credit score.

What Kind of Information do you need?

We only ask for the minimal amount of information needed by our lending partners to approve your car loan application. By knowing your location and financial situation, we are able to match your application to the best automotive financing partner.

Can this build my credit?

You need to borrow money to create a better financial history and rebuild your credit score. As you make your monthly car loan payments, the financial institution will report your responsible credit behaviour to the credit bureau and your score will rise accordingly. Like with any loan, missed or late payments will negatively affect your credit score and making regular timely payments, over time, will increase the score.

Do you take Trade-ins?

Yes, we will take your current vehicle in as a trade – in, even if you still owe money on the car. Any equity in the vehicle will be used as a down payment on your new purchase, lowering your monthly payment.

I’ve been turned down. How can you help me get an auto loan?

We match you with one of our financing partners who specialize in loaning money to people in your situation for the purchase of a car. This way you don’t negatively affect your credit score by trying multiple times to get a loan. Each time you apply for a loan it lowers your credit rating. Once we’ve found a partner who matches your needs, they will contact you to discuss your options, so you can make an informed decision. We want to make sure that you get the right car loan for you. After you have decided to move forward and purchase a vehicle, we can help you to get the car you want.

How Much Can I Be Pre-Approved For?

The amount will depend on a number of factors and our vehicle financing partners will need to talk to you to determine how much you can be approved for. A Credit Rebuilder representative will call you and help you find the right vehicle for your monthly budget.

How Long Does the Process Take?

Filling out an application will take approximately 2 minutes and then within 24 hours one of our auto financing partners will call you.

What are your Minimum Requirements?

The minimum requirement to apply for a loan is that you must be a permanent resident of Canada, at the age of majority of the Province you live in. In BC, this is 19 years of age.

Do I have to do a Credit Check?

Yes, a credit check is a necessary part of our car loan approval process.

Am I Obliged to Buy a Vehicle if I Apply?

No. When our auto loan financing partner contacts you, it is to advise you of your options and allow you to make an informed decision about borrowing to buy a car.

Do you Help People Receiving Income Assistance?

Yes we do. Your options might be limited, but there are options we can help you find.

Do I Need a Down Payment?

A down payment will not always be required. If you want to lower your monthly payment or borrow a larger amount, you may need to put money down. Talk to our car loan financing partners to find out what your unique options are.

Am I going to need a Cosigner?

We are usually able to help people without asking for a cosigner. Whether or not this will be a requirement will need to be determined upon talking to one of our car loan financing partners.

What Kinds of Vehicles do you help People find?

All types. Cars, Trucks, SUVs, Vans.