Planet Financial specializes in Trucks and Trailers Financing, Commercial Truck Financing, and Re-Financing of all types of Trucks and Trailers. We deal with new Truck Loans, commercial truck loans, used truck loans, trailer loans, and leasing of all makes and model models that can help you get bad credit loans in Ontario. It is tough to get a loan with no credit check in Canada.
Truck drivers apply for financing if they are looking forward to becoming an owner operator and want to start their own trucking business and they can also refinance if they want to increase cash flow in their business. Generally, there are tonnes of misconceptions out there that if you have bad credit or no credit, you cannot get approved for a financing truck loan bad credit. This is somehow not true as dealerships and lenders have found that with the ups and downs of the Canadian economy, they need to make truck loans available for good and bad credit customers alike. Your lending source is the biggest difference between getting a truck loan with bad vs. good credit. Generally, a person with good credit can walk into a bank and get his loan approved but if you have bad credit, it becomes difficult to get approved as they prefer customers with good credit scores and spotless credit history. But at Planet Financial we can help you in getting your loan approved under restricted limitations. For instance, you can provide a co-signer to increase the chance of approval. Few factors like an old corporation, being a homeowner, and no consumer proposal can help you in getting approved easily. If you have bad credit, then there is a chance that your down payment and interest rate can be comparatively high but still, you can get your approval. We ensure the customer with bad credit is getting the truck loan instant approvals at an affordable interest rate.
You can also get your loan pre-approved from us which can help in saving your time while choosing your truck and getting truck leasing. There are very less companies to find who have no credit check loans in Canada. You can work with our team to estimate what you may be able to afford as a total loan amount. A co-signer or co-applicant is a useful option to think about when you have bad credit, especially as trucks are generally more expensive than cars. Adding a co-applicant with a higher credit score means you’re applying for a joint auto loan. Creditors see this as two sets of income that can be considered by the lender and balance the difference between your credit scores. That can increase your chances of approval and, if approved, may get you a larger loan amount at a better interest rate. Most lenders check their credit history and make decisions on loan applications. What you should keep in mind is that you can build your credit with good planning.
Even if you have red flags in your credit history, you can succeed to secure the truck loan. Surely you will be surprised to know all the options available.
Though it may take some time, it’s better to choose the right financing option for your business needs and goals. Next up, spend sufficient time on research to find a good truck.
Consider down payment, interest rates, and other things before moving ahead with financing a semi truck loan. Just think about the add-ons like extended warranties, insurance, service contracts, and other additional products. This way you can easily secure the truck loan at lower interest rates with no credit or bad credit.
Our application process is extremely fast, and we guarantee the most competitive interest rates, especially when you are getting truck refinancing or financing in Brampton for instant loans. Don’t wait any longer.
If you need a truck loan here is our Document Checklist for truck business loans in Canada:
- Valid ID
- Bill of Sale
- Article of Business Incorporation
- Last-three-month bank statements.
- Credit Application (download it here)
You can email all the documents to firstname.lastname@example.org or you can also get your free inquiry at 647-449-6060 We specialize in providing quick loans.
Click that “Apply Now” button to proceed with your desired heavy machinery loan provider. Some clients will rather have some guidance throughout this process, so we also have the added option for you to pre-apply at Planet Financial for instant approvals. Our team will sort through your information and give you the best rate of interest all over Canada. You can also Sign up for our newsletter for our recent updates and get special offers on heavy equipment loans. Apply online by filling up the credit application for quick approvals for your own or commercial truck loans or Call us and book an appointment. We would be happy to serve you.