What Is Special Finance?
by: bradw
Total views: 92
Word Count: 239
What is 2nd Chance Financing?
Second Chance Financing was designed for someone who has current or past credit
problems and may have experienced some degree of difficulty in obtaining
financing.
In order to save you time and help insure your loan approval, we have listed below
the standard qualifications and documents required by lenders prior to issuing
you an automobile loan.
To Qualify:
·
You must make at least $1500.00 gross income per
month.
·
You need to have a steady work history.
·
You must have a steady residence
·
You will need a minimum of 10-15% down payment.
(cash or trade)
If you have ever filed bankruptcy, it has to have been
discharged.
(You will need to present your discharge papers.)
If you have any collections, liens or judgments against you, or ever had an
automobile repossessed, you will need to provide acceptable explanation for
your lender.
The Standard documentation required are as follows:
·
Proof of income for each individual on the
application.
·
Current phone bill.
·
Proof of residence.
·
Proof of rent/mortgage amount.
·
List of 8 references. (complete address and
phone number) friends, family, etc..
·
Evidence of vehicle insurance is due at time of
delivery.
·
Copy of valid drivers license for each
individual on the application.
About the Author
Brad Whitehead works as an executive in the special
finance department for Car Loans Canada. To gain more information about
securing an auto loan, online car finance, used car finance, new car finance,
special car finance, or bad credit car loans please visit http://www.carloanscanada.com/canada-auto-financing-resources/car-loan-after-bankruptcy.aspx Bankruptcy Auto Loans: Car Loans Bankruptcy
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