Frequently Asked Questions
Don't Let Past Rejections Stop You. Get Pre-Approved Today!
Worried about a past credit rejection? Don’t be. Our goal is to look at your current situation and help you get behind the wheel. We have a high success rate, even for those who have been turned down before. We specialize in finding paths to “yes.”
How Quickly Will I Get an Answer?
We know you’re excited to get your next vehicle, so we don’t waste time. After you submit your application, you can expect to hear from us with an approval decision within 24 to 48 hours—and often, it’s even sooner than that! We’ll reach out by phone or email the moment we have news for you.
What Will My Interest Rate Be?
Your interest rate is determined by a few key factors, such as your overall financial profile, the vehicle you choose, and your credit history. Our promise is to work diligently to find you the most competitive and affordable interest rate available for your specific situation.
I'm New to Canada. Can I Still Get a Loan?
Absolutely! We welcome new Canadians and work daily to secure financing for those with no established credit history in the country. We have strong relationships with numerous lenders and also offer a unique in-house leasing program designed specifically for new arrivals.
What Do I Need to Qualify?
Getting approved for a car loan with us is straightforward. We’ve streamlined the process to get you on the road faster. All you need to have is:
- A valid driver’s licence
- Canadian residency
- A monthly income of at least $1,500
I Already Have a Car Loan. Does it Make Sense To Apply?
Absolutely. Even if you already have a car loan, applying with us is a smart financial move. Think of it as a free, no-obligation check-up on your current loan. Your financial situation has likely improved since you first got your car, and just 12 months of on-time payments can often qualify you for a significantly lower interest rate or a more affordable monthly payment. Within minutes, our team here in Nova Scotia can assess your current loan and tell you if you’re overpaying. You have nothing to lose and could potentially save thousands over the life of your loan or free up cash in your monthly budget.
What If I Have Bad Credit or No Credit at All?
This is our specialty. Bruce Auto Approvals was founded on the principle that everyone deserves a chance to own a safe and reliable vehicle. A credit score is just one part of your story, and we’re here to listen to the rest. We have extensive experience and a strong network of lenders to assist with various financial situations, including:
- Bad Credit or No Credit History: We believe in fresh starts.
- First-Time Buyers: We’ll guide you through your first vehicle purchase.
- Payment History Issues: Late or missed payments don’t automatically disqualify you.
- Bankruptcy or Consumer Proposal: We can often secure financing even if you’ve recently filed.
- New to Canada: Welcome! We have custom financing solutions for new residents.
- Life Events: We understand that divorce, unexpected job loss, or other events can impact your credit.
I Have Good Credit. Does It Make Sense To Get A Pre-Approval?
Absolutely. For those with good credit, a pre-approval is a smart, strategic move that puts you in complete control.
What is My Credit Score?
Get Your Free Credit Score Estimate
Knowledge is power, especially when it comes to your finances. Fill out our simple and secure form below, and our team here at Bruce Auto Approvals will provide you with a completely free credit score estimate. This no-obligation estimate helps you understand your current financial standing and plan your vehicle options with confidence, all without impacting your credit rating. It’s the smart, simple first step in your car-buying journey. Get started now!
Pre-Approvals: Shop with Confidence
Getting pre-approved for your car loan with Bruce Auto Approvals is the smartest first step in your vehicle search. It instantly empowers you by establishing your exact budget, which allows you to save time, shop with confidence and find the right fit vehicle for you!
Credit Re-establishment
Re-establishing your credit is one of the most important investments you can make in your financial future, and the partner you choose is critical to your success. A car loan is a powerful tool for rebuilding, but only if your positive payment history is reported correctly to Canada’s credit bureaus. At Bruce Auto Approvals, we understand this responsibility. We view your loan as more than just a transaction; it’s a strategic partnership designed to set you up for long-term success. We work to secure fair, manageable terms and ensure your consistent payments actively boost your credit score, paving the way for a stronger financial future.
New to Canada?
Welcome to Canada! Don’t let a lack of credit history stop you from getting the vehicle you need for the best job opportunities. At Bruce Auto Approvals, we specialize in helping new Canadians get approved for financing. We focus on your local income and employment, not a past credit score, to get you the reliable car you need to drive your new career forward.
Stuck in a Bad Car Loan? Find Out If Your Can Lower Your Payment Or Get a Better Rate
Feeling trapped by a car loan with a high interest rate or an unaffordable payment? Your financial situation doesn’t have to stay the same. If your credit has improved or you’ve been making consistent payments, you may now qualify for much better terms. At Bruce Auto Approvals, we specialize in reviewing existing car loans to see if we can refinance your vehicle with a lower interest rate, a more manageable monthly payment, or both. Let us provide a quick, no-obligation assessment to see if you can escape your bad loan and start saving money today.