Vehicle Financing & Insolvency
In need of vehicle financing and are considering filing for bankruptcy or consumer proposal?
Or have you already filed? You are now faced with a daunting task as you feel who will finance you anything for the foreseeable future?
Well, there are two main types of credit, secured and un-secured. While in a proposal or bankruptcy, you can not qualify for credit cards, lines of credit, and personal loans. These would be considered un-secured credit.
The Good news, vehicle loans are what you call secured credit. In the sense that a vehicle is secured to the loan as collateral.
At the most dire of times, prior to filing for insolvency, you may not even qualify for an auto loan even at exorbitant rates. What a lot of people don’t know is that on the day you have filed for bankruptcy or proposal you may qualify for aggressive subprime rates for vehicle financing as low as 10.5%.
You may ask, how? Why? Well it is a lot simpler than one would think. On the day you file, you have taken responsibility for debt you may no longer be able to manage and are on your way to rebuilding your credit! Additionally, your un-manageable debt load has now been eliminated and your payments are a fraction of what they once were. This makes you more appealing in the eyes of certain sophisticated vehicle lenders.
Vehicle loans that are paid on time are an excellent way of rebuilding your credit to! This can give you a fantastic head start in raising your score and rebuilding your credit far before your proposal or bankruptcy has been discharged.
Lucky for you, here at Alberta Wholesale Motors,
We have a variety of sophisticated lenders that offer exactly this, vehicle financing for people that are in proposal or bankruptcy. No matter where in Alberta you are, we will deliver to your door. Question is, why wait any longer, Apply Here today!