TREND Financial understands immigrants applying for a car loan may not have an established credit history and offers customized car loan solutions
Toronto, Ontario -- (SBWIRE) -- 09/18/2013 -- It’s not easy to get car loans for new immigrants as they are regarded as having essentially no credit history, and therefore with no credit. In Canada it is estimated that 250,000 people emigrate to the country every year, and most if not all will have no Canadian credit score. Many Canadian lenders require that new immigrants have a minimum credit score before they can start a car loan application. TREND Financial understands the importance of a car in everyone’s life, so this is why they look to find easy customized car loans for everyone including new immigrants.
At TREND Financial wide approval criteria are used assessing a car loan application. This means that if an applicant is weak in one area, such as no credit history, other factors can make up for approvals that then become easier. For new immigrant car loans, the company looks at the following, including but not limited, to provision of a signed employment contract from an employer showing the person’s salary, employment verification contacts, a housing lease/rental agreement or mortgage or proof from an employer showing that the employer is providing housing, and more.
Know More About Car Loans For New Immigrants
According to Eric Kaplan, COO of TREND Financial, “Deposits can play a large role in equalizing the playing field.” Adds Mr. Kaplan, “One of the best ways to deal with a new immigrant car loan or no credit situation is to look at the security deposit, which can be a major factor in the loan approval process.”
Simply put, Trend Financial is an expert in providing car loans for new immigrants and for those without credit. As one of the Canada’s leading car loan lenders, they are able to search through a wide range of flexible car loans options. As an independent car loan lender and not a broker, TREND is not tied to any one lender and can offer their customers a wider choice of car loans at competitive rates.
ABOUT Trend Financial
TREND Financial is an auto lender based in Toronto Canada that deals with all car loans from Bad Credit, Good Credit and No Credit. Trend utilizes a multi-tier approach to auto loan applications, more than conventional lenders, in order to offer the best loan rates and most affordable payments. As well its approach to auto lending does not focus solely on the loan applicant's credit score, in using a different approach to qualify individuals based on all their financial strengths.
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