Is it hard to get approved for Canada Drives?
Even if you have a low credit score, Canada Drives can help you get approved for auto finance and shopping for your new vehicle today. While not essential, a cash down payment can help boost your chances of approval because it reduces the overall amount you need to borrow. Does Canada Drives do a credit check? As a trusted lender, Canada Drives does check credit to help determine a buyer’s interest rate on a car loan. Since Canada Drives pre-approvals count as a soft check, this credit check will not negatively impact your credit score.Credit Score FAQs While there’s no minimum credit score that applies to all lenders in Canada, typically a score of 660 or higher is ideal for getting a car loan. That said, there are lenders out there who work with borrowers with fair and also bad credit scores.First-time buyer car loans in Canada can be difficult to come by, simply because first-time buyers (usually) don’t have strong credit histories. But don’t worry.
What do Canada Drives do?
Canada Drives is a Canadian online vehicle retailer founded in 2010 and based in Vancouver. The company allows customers to buy certified used cars online. Customers can also sell their vehicle to Canada Drives or trade it in. For the most part, driving in Canada is very similar to driving in the United States, but there are some slight differences in the laws and provincial rules of the road between the countries.