Where can I apply for a car loan without a credit check in Toronto?

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This article looks at the sub-prime or bad credit car loan services in
the Toronto area, and focuses on the no credit check car loans in
particular.

You have probably heard of the sub-prime business before, it is the
loan service many dealership offers today. These types of car loans
are not the same as the typical bank loans because they are geared
towards people with bad or no credit. A typical bank loan for a car if
you have a good credit standing with your bank, will run you from 8 to
9 percent of annual interest rate. But a bad credit car loan on the
other hand will cost you 19% and higher in interest rate, but your
chance of approval is much higher. Even when applying for these types
of loans, since it is still coming from the banks they will require to
pull a credit bureau or credit score on you just as a procedure.

If you have been turned down from these service providers before, that
usually means your credit score is too low, or too risky for the banks
to lend you any money. If you don't need the car badly enough, that
would be your rock bottom service provider and should be your last
resort for a car loan. But if you are like many Canadians today who is
troubled by their credit history, but really need a vehicle for your
family or work there is still one last resource you can try. It's
called the "no credit check" car loans, these types of loans are much
rare to find but they do exist.

A no credit check car loan will usually require a small amount of down
payment, and the money will be lend to you from the dealership
directly. Since this type of lending practice is private in nature,
they do not require a credit check at all. Hence the name no credit
check car loans, they may carry a very similar interest rate, but for
some one who can not get approved in any other way, this is the only
way to get a loan.

This article is brought to you by Selected Fine Cars; please visit us
online for your instant approval at http://www.selectedfinecars.ca or
http://www.soscarloans.com for more valuable tips on bad credit car
loans.