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Car Financing

Reasons why you are not approved for a car loan

The reasons for not getting approved for a car loan vary. It is usually not one reason, but a combination of factors that lead to being disapproved for an auto-loan. Length of employment is one of the factors.  If the borrower has been employed for no more than three months his or her income may not be deemed as being stable and reliable.

The next is monthly income. If gross monthly income plus debt plus overhead expenses leave too little for the monthly loan payment and it is obvious that is the case then approval is unlikely.

Lastly, even after paying all outstanding debts, a person can still have bad or poor credit. In this case a borrower may be denied not just because of their bad credit score, but more because of missing payments to other lenders. To better the chances of obtaining an auto-loan, make sure all payments are up to date with no written requests outstanding.  Any one of these reasons can lead to a disapproved loan, but it is usually a combination of them causes the denial of the loan.

Guaranteed Auto Loans  will work for you to get the credit approval you want and need to be driving a vehicle today!  We have access to a huge network of  lending partners and  unique finance programs. We will create the easiest way for a person, despite their situation, to get into a trouble free great vehicle today.

Experience for yourself why British Columbia customers are turning to Guaranteed Auto Loans to achieve their financing dreams of owning their next vehicle fill out our application page now!

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