Credit Rebuilding Program
Discover Accent.ca’s Credit Rebuilding Program
Very often, the clients referred to us with bad credit have been exploited by car dealers who are aggressively advertising for that type of business. What most consumers are unaware of is the fact that car dealers don’t lend money. Their sole reason for advertising is to sell more cars. They simply broker the financing to a select few lenders who may approve a bad credit car loan with interest rates typically between 17.9% and 29.9%.
Accent.ca, your BC car leasing and financing provider, is different. We are a Private Lender. Credit decisions are made in-house, typically within a few hours. The thing that truly sets our Richmond car leasing and financing provider apart from those other lenders who work exclusively for the dealers is our interest rates. Our rates range from 4.99% to a maximum of 11.9%. Never again will you pay more than 11.9% regardless of how bad your credit may be. Our competition said that it couldn’t be done. They said that we wouldn’t be able to absorb the losses if we dropped our rates below 18%.
The reason that we can offer these ultra low rates for bad credit car financing is because we are the Lender. We do not sell your financing to a third party like a typical car dealer. The difference is that, as a Private Lender, we are lending you our own money. We are not acting as a middle man between you and the finance company, like the car dealers do. Another little known fact is that the dealers are offered a referral fee in the form of a dealer reserve from most lenders. Usually, the higher the interest rate charged, the higher the referral commission payable to the dealer.
By capping our Bad Credit Financing rate at a maximum of 11.9% (regardless of your credit history) we have seen our business flourish. We truly care about a consumer who has faced an insurmountable financial challenge, often due to circumstances beyond their control. Our belief is that people are inherently good and trustworthy. At our Richmond car leasing and financing provider, we treat every client with the respect they deserve. We look at financing your future, not your past.
Our only requirement is that you be honest with us when completing our credit application and provide us with proof that you can afford the monthly car payment for the car you choose. That’s right, you choose the car, whether it’s new or pre-owned. With pre-owned, there are more than 800 vehicles that are offered for sale each week to local dealers at wholesale prices. Together, we select a suitable vehicle, usually a late model car with new car factory warranty still valid.
As a Private Lender, we mitigate our risk by only financing vehicles that we can acquire at wholesale prices. This is a much more favourable situation than that faced by the third party lenders who are asked by dealers to finance cars at inflated retail prices. It’s understandable that these lenders must therefore charge higher interest rates to offset their higher losses in the event of a default. We are asked over and over again, at Accent.ca, your Richmond car leasing and financing provider, to finance similar deals from local dealers, however we are unable to offer our low non-prime interest rates when the dealers insist that we pay a high retail price for the car, plus additional fees and dealer commissions. We are unwilling to be party to any financial agreement that is weighted too heavily in favour of the dealer. In many instances auto dealers take advantage of a clients bad credit status to make additional profits for themselves. We believe that this is inherently an unfair trade practice and we refuse to engage in that type of business.