FAQ

• Is Approve Me First for me?

  Car loans from Approve Me First are for people that cannot get pre-approved for an auto loan through traditional lending sources such as local banks, credit unions or the lending arms of car manufacturers such as Ford Credit, and GMAC. These lending sources normally will not finance vehicles under the following circumstances:

  • If your credit score is low.
  • If you have ever filed for bankruptcy.
  • If your income level is low.
  • If you have zero down payment.
  • If you have ever had a vehicle repossessed.
• How do I Qualify for credit with Approve Me First?

  The basic qualifications are:

  • A monthly provable income of at least $1,800 per month.
  • Currently reside in Canada.
  • Canadian citizenship or legal residents.
  • Able to obtain automobile insurance.
  • Possess a valid driver’s license.
  • Full time employment or guaranteed fixed income for the length of the loan.
  • A working phone number and proof of residence such as a utility or credit card statement.
• How do I repair my bad credit?

  If you were to receive and use a secured Credit Card you will start to rebuild your credit score. Be careful never to exceed the card limit and avoid being late on payments. If you pay via online banking, submit your payment at least 4 business days before the statement date.

• Do I need a co signer?

  Although each situation is different, a co-signer is often not required

• What is the interest rate?

  Your interest rate depends greatly on your credit history, however rates can be as low as .5% above prime.

• What type of vehicles can I choose from?

  the vehicle you can choose will need to fit within the financial amounts you are approved for. Filling out our fast application is the first step to getting your vehicle.