FREQUENTLY ASKED QUESTIONS
How is Elite Auto Finance a Part of The Guathier Group?
Elite Auto Finance is a sub-division of The Guathier Group, which allows us access to a wide range of inventory and support from the Guathier Groups financial services team. Elite Auto Finance is supported by The Gauthier Group to ensure the best service, support and expert credit advice for our clients.
What is a Credit Score?
A credit score is an overall review and judgement of your financial health at a specific point in time. It indicates your credit health at that time and the level of risk that you represent to lenders. Credit scores can range from a score of 300 to 900, with a higher score signifying a higher level of credit health. Therefore, the higher the score, the less chance of risk that you represent to lenders. Your credit score can be found on a credit report. The credit report is a snapshot of your credit history. This report includes companies that have lent money to you in the past. This could include banks, credit card companies, credit unions, retailers, cell phone carriers and more. The most common credit report companies in Canada are Equifax and TransUnion. Individuals can obtain their credit report from these companies to review their credit score and overall credit health.
What do I Need to Provide to Get Approved?
To qualify for auto loan financing, you will need to provide the following: Proof of full-time employment (minimum 3 months). Resident of Canada. Canadian citizenship or legal residence. Able to obtain auto insurance and a Valid driver’s license.
What interest rate will I get?
While everyone’s interest rate is depending on their personal credit, the easiest explanation is that Elite Auto Finance will help secure your financing at the best possible interest and finance rate possible. In many cases, this will be better than conventional rates and will help rebuild your credit as you secure an auto loan. Everyone’s case is different and your finance rate will depend on your individual situation.
What if I’ve been turned down by my personal bank?
We have several steps to help you if you have been turned down by your personal bank for a loan. Do not re-apply for a loan. Each time that an individual applies for credit, the lender will pull your credit file. After being turned down or denied a loan request, it is best to not re-apply to avoid multiple credit files being pulled in a short time span. What next? Every individual’s situation is different, we recommend contacting your Elite Auto Finance team to speak with our financial advisers. We can assist with your unique situation and advise you on
Can I select the vehicle I want?
The simple answer is, yes. At Elite Auto Finance, we work with your credit history and your approval from our lenders. However, our main focus is to help you rebuild your credit. This may result in our step-stone process. Our first step is securing financing on a reliable, budget friendly vehicle. After 12 to 18 months of regular payments, the next step is to get you approved at a much lower interest rate. This gives you significantly more buying power in selecting from a wider range of vehicles. Our step-stone process has worked for a majority of our clients, who have been able to rebuild their credit and drive the vehicle they want.
How Does Elite Auto Finance Process Work?
We try to make things as simple as possible and as such, our process is very straightforward. We take some basic information from you, so we know what type of vehicle you’re looking for and what type of payment fits your monthly budget. From there Elite Auto Finance team goes to work to find you a vehicle from our inventory that fits your parameters. Our team will guide you through the process, answering any questions you have along the way.
What Information Do You Need?
We don’t need much information to get the process started. Fill out the form on this page with your contact details and our team will be in touch to discuss vehicle options. Once we know what type of vehicle you are looking for, we can begin the process of putting together your vehicle loan and we can often have customers approved within 24 hours or less.
Questions
If you have questions relating to this Privacy Policy or about the collection, use and disclosure of your Personal Information, please contact us at: info@eliteautofinance.ca