964 Regent Ave. West, Winnipeg, MB R2C 3A8 | 1 (888) 290 4811

FAQs

Who all are eligible for a car loan?

At Bank Approved, we approve Individuals on Disability, Self-Employed, Pensioner, Child tax, Part time workers, and Full time workers, Students, New Immigrants and International Students.

How much car loan am I eligible for?

Car Loan amount depends upon different factors like your credit history and credit score. Better your credit score, the more money you are eligible for.

How much down payment money do I need when applying for a car loan?

Down payment for vehicle purchases can vary from $0 to $1000 depending upon different circumstances. 95% of our car loans are approved with $0 down payment.

Will attaching a co-signer application help me in securing a car loan?

In most cases at Bank Approved, Primary Applicant is approved without the need of a co-signer. In some cases, Co-Signer may be required when applicant doesn’t meet minimum requirements (low income, low credit score).

What are the minimum requirements to qualify for a car loan at bank approved?

There are no minimum qualifications to get pre-approved for a car loan. Apply our online Pre-Approved form to qualify for a car loans.

I have no credit, do I need a co-signer?

At Bank Approved, co-signer is not required. However, applying for a Car Loan with a co-signer strengthens your Loan Application which results in lower interest rates and affordable payments.


I am a First Time Car Buyer/New to Canada, am I eligible for a for a car loan?

We are always excited to work with first time buyers. We will help to build your credit rating through our FIRST TIME BUYER PROGRAM.

Am I eligible for a car loan after declaring bankruptcy?

At Bank Approved, getting approved for a Bankruptcy Car Loan is easy and hassle-free process. Bankruptcy Car Loans helps an individual to build their credit history.

Will my personal information be protected when applying for a car loan?

Bank Approved website is fully protected and encrypted through the use of SSL certificates, securing all your personal information.

How long does it take for a car loan to process?

Car Loan Approval Process at Bank Approved is fast, secure and hassle-free. Once your application is processed, our Finance Rep will call you and discuss the best options available with lowest rates possible and affordable payments. (For a rapid approval, fill out our full car loan application).

What Documents are required to apply for a car loan?

Driver License, Last 2 Months Pay-stub, First Nations Status Card (if, applicable) or a Government ID

How much interest rate am I expecting when applying for a car loan?

At Bank Approved, we strive to offer lowest interest rates possible in the market with affordable monthly/bi-weekly payments. Interest rates are as low as 2.4% and 0% sub-vented rates on Newer Vehicles.


Am I eligible to trade in my old vehicle when applying for a car loan?

We accept and welcome all Trade-Ins.

How can I rebuild my bad credit through car loans which bank approved offers?

We can help you rebuild your credit score by getting you approved for a car loan. Once approved, after making 6-12 car payments straight you will have a positive boost in your credit score and we can refinance your current car loan to get you lower interest rates.

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