Credit rebuilding using Vehicle Financing
At Approval Genie, we believe that everyone deserves a second chance when it comes to financing an automobile, regardless of how bad the credit was in the past. Traditional methods of financing, such as a bank or going through a dealership only has one result, when you have bad credit; the answer is almost always a “no.”
Approval Genie ensures that every customer, regardless of their credit history has the opportunity to obtain financing. Approval Genie specializes in helping customers who have bad credit obtain financing through a major lending institution.
As evident by our testimonials page, Approval Genie has helped thousands of people all across the country get the financing they need. Approval Genie makes a commitment to its clients that not only will they receive the financing for an automobile but the pre and post service will be the highest in the industry. We care about our customers, and we will bend over backwards to keep them happy.
Approval Genie can help you build your credit by ensuring the new automotive loan appears on your consumer credit report. Establishing a new “trade line” is important when you have suffered from bad credit. Ironically, the only way you can start building your credit, is by obtaining new forms of credit. An automotive loan is one of the strongest forms of credit that can help you tremendously improve your credit rating.
Many different lenders are available to people that have had bad credit get an auto loan. Very often, a lot of these companies offer what is known as a buy-here-pay-here option. These options, while they seem attractive, can lead to a road of nightmares. First, and foremost these types of loans are private financing options and do not appear on your credit report. Secondly, the vehicles that qualify are very old and have very high mileage on them. Thirdly, the finance company requires a large down payment. Sometimes, the amount of money that is required as a down payment is the actual cash value of the automobile. Moreover, these loans are actually a lease, where the ownership of the vehicle remains with the finance company. The interest rates on these types of loans near the loan sharking rates by the time the fees are added to the contracts. In Canada loan sharking is anything over 60% interest.
Approval Genie is an authorized merchant of many institutional finance companies. Some of our partners include RBC, TD Auto Finance, etc… It is absolutely imperative that you make an informed decision before you decide to jump into any sort of finance contracts. Approval Genie, offers a program where a client has an option to trade in their vehicle after 12 months, granted that they are in good standings with the finance company, on approved credit and life circumstances, at a significantly lower interest rate. Having the flexibility to trade in the vehicle in 12 months is a benefit to many people as you have an opportunity to get a lower interest rate and possibly upgrade your vehicle.
Make an informed decision to get an automobile loan from a company that has been trusted by thousands of people country wide. Apply today, and drive within 72 hours!