FAQ

We only ask for the information that we need to help you find an approval. By knowing your location and a bit about your financial circumstance we are able to determine which partner will have the highest chance of finding you an approval.

Essentially, it’s a number assigned to a person that indicates to lenders their capacity to repay a loan.

The amount that you will get pre-approved for depends on several factors. Once you apply, the specialist dedicated to your account will get in contact with you to work towards matching you with the right vehicle that fits within your monthly budget.

Your payments are calculated by the amount you are financing, the terms of length in your contract, and the annual percentage rate (APR).

Here at Elite Car Leads we offer competitive rates from a variety of finance companies to fit nearly every budget and credit profile.

It is important to confirm this with your finance provider, but usually when you purchase a vehicle your payments are reported to the credit bureau. If all payments are made promptly and on time, a vehicle purchase can hold the potential to help repair your credit.

Yes, a credit check will be a necessary part of the approval process.

A down payment will not always be required, though it is often a great way of lowering your payments and helping to pay off your vehicle faster.

Yes! Many of our customers are referred by a trustee while the customer is in bankruptcy or proposal. Securing a car loan is very helpful to reestablishing your credit.

Our minimum requirements are that you are the age of majority in the province that you reside in, and that you are a permanent resident in Canada. Other than that, we are happy to accept applications from people in all types of financial circumstances.

We are usually able to help our customers without a cosigner. However, whether or not someone will need a cosigner will depend on the information from their entire application. Applying is free and holds no obligation to make a purchase, so it does not hurt to find out what your options would be.