Credit and Rebuilding

Credit Rebuilding Options

So you're looking to buy a car, but you've had some problems in the past. Some places have told you that your credit isn't so great, or you are just starting out and don't have any credit yet. But, you have a steady job now, and you're looking forward to a better future. So you talk to the sales guy down the road, but he's offering to "help you" with an old car and a pushy attitude - surely you've got rights as a buyer? Well, whether you want to learn the whole process and how it works, or if you just want a newer, safer, and more reliable vehicle - Strathmore Motor Products is here to help!

At Strathmore Motor Products, we'll make sure that you get what you need: a fully reconditioned vehicle (and it will be newer than one from a non-franchise dealer), franchise dealer support, purchasing rights, and above all, respect.

We understand that financing is an important part of the vehicle purchase experience - and that it can be stressful. Keeping that in mind, we set a goal of creating a low-stress approach to financing. We work with our lenders and financial institutions to get the terms and rates that are right for you, and we'll always make sure that you know exactly what they are. We have dedicated staff just for financing who can create a personal plan just for you. And yes - we work with you even if you have no or low credit!

Understanding Credit

Understanding the ins and outs of credit and your score can be overwhelming. Below are three videos from GM Financial that can help take away some of the mystery.

WHAT CAN WE DO FOR YOU?

Financing a car can be difficult and stressful, especially if your credit score is low. Luckily, we know this, and we will do everything we can to get you into the vehicle you need. We have many options available that we can offer you. So - if you want to rebuild your credit, if you've been rejected before, if you think that a vehicle is out of reach....why not fill out an application first and see how we're different?

CAR FINANCING QUESTIONS

What companies does Strathmore Motor Products work with?

We offer financing through over a dozen financial institutions including RBC, TD Auto Finance, Scotiabank Dealer Finance, and GM Financial.

How does financing work?

It's very simple! First you fill out the easy application form. Then, based on approval from the bank, we will give you the best value vehicle that you are approved for!

What factors into the approval decision?

This is based on a few different things. Factors include the size of the down payment, your credit history, your income, how long you've been at your current job and residence, and vehicle qualities like model, style, age, mileage, and cost.

What does a credit score mean?

A credit score is a way for financial institutions, like banks, to predict the amount of risk involved with major purchases (cars, houses, credit cards, etc). It notifies the lender how (and if) you will pay what you owe.

How permanent is a low credit score?

All low credit situations can be resolved with enough time and patience. After all, the score is just one part of the whole approval process. In fact, by getting a loan and paying it off as necessary, you can help rebuild your credit as you go!

If I have a low credit score, can I still get a car loan?

Strathmore Motors wants to help you rebuild your credit and lay a solid base for your financial future. So, our staff works with you to create a personalized plan that works with your credit abilities...even if they are not perfect! You may have more options than you think. One thing is for sure - you have nothing to lose by filling out an application!