Welcome

Problem credit, bad credit, no credit? Divorced, student, new to country? Bankrupt, behind in payments, judgments, unpaid collections? Credit counselling or proposal, unpaid family support, or self-employed?

Our clients often have poor credit scores and are bad credit risks. Due to life circumstances such as age, divorce or other reasons, they face the uncertainty of obtaining credit.  We are their bad credit loan solution.

What We Do

Consult

We need to talk to you and understand the circumstances of your past financial dealings and your current employment and family incomes that could contribute to getting you approved.

Your credit score dictates your ability to get a vehicle loan and is obtained by evaluting your past earnings stability and your ability to pay your bills. This is a standard measure that car loan lenders look for in determining whether to extend a loan to you.

We work with our lenders and with your credit counsellor or bankruptcy trustees, or other financial advisors to put together a car loan or truck loan that you can afford. We then look for the optimal vehicles for your consideration and purchase.

We are a division of a vehicle dealer partnership that provides us with operating leverage and inventory of both new and used cars and trucks. friendlyFinance.ca has provided services for the special finance marketplace for nearly three years as a separate identity and operating group, however we have over 10 years experience in this marketplace at the dealer level.

Our clients often have poor credit scores and are bad credit risks. Due to life circumstances such as age, divorce or other reasons, they face the uncertainty of obtaining credit.  We are their bad credit loan solution.

To build trust and a relationship with each client and the challenges he or she faces in rebuilding credit, getting approved by lenders or consolidating car loan debt. We promise to have compassion, understanding and a willingness to work with our lenders to find a solution that works, meets your monthly budget and gets you on the path to improved credit worthiness.

In a word experience. We have sold hundreds of vehicles to clients with less than perfect financial credit history. We have compassion for our clients, and we work hard on their behalf to secure the best possible terms and arrangements, together with an appropriate vehicle selection to meet your needs. We recognize that rebuilding credit is a pains taking process. It takes commitment and we are willing to go that extra distance for you to make the process as easy, affordable and comfortable as possible for you.

Call our Special Finance Managers today to begin a confidential process of loan application, vehicle selection and the path to credit history rebuilding.

You can apply for a loan any time, 24 hours per day. Our Special Finance managers will examine your request as soon as they get notified of your application. We can get you approved as early as the same day or usually within 24 hours of receiving your application during normal business hours.

We work with a dozen different lenders, banks and institutions. Some of these you may already have dealt with in the past and the list contains a number of familiar names. The rest are companies that provide loans in the special finance market place and work daily with those with poor credit histories.

Each has its own appetite for risk and each will apply its unique approach to evaluating your credit worthiness and determining whether or not they wish to approve you. We don't submit your information to all of the lenders at once. We pre-determine where we are likely to meet with success, based on extensive experience with each lender. Then if we still can't get you approved, we cast a wider net - submitting to more lenders until we either have an approval or we fail to get you approved. Remember, not everyone will get approved. If you are too far overextended, have no income and therefore no ability to repay, or your past credit history is just too overwhelming, the possibility exists that we may not be able to secure approval for you. Typically, about 94% of all clients that apply will get an approval. Be wary of lenders who claim to approve 100%; yes they may accept 100% of applications submitted, but they cannot guarantee that 100% will get approved for a loan.

In most cases we can submit your information electronically to the lender, but in a few cases we have to use fax, in which case it may take a little extra time to get an approval. Usually we get same-day or 24 hour approvals. Patience is all we ask as we go through this process. We cannot rush the process and expect solid results for our clients.

The short answer is no. Even within the special finance or sub prime marketplace, not each lender is willing to take all and any risks presented for approval. Each vendor has its own appetite for risk and reward, and each loan approval or application presented is evaluated on its own strengths and weaknesses. This is not all done electronically and without human interaction. We regularly talk with our lender representatives and try to find work-arounds, loan ranges and interest rates that will work for both parties - the lender and you. But at the end of the day, we know that about 4-6% of prospective loans will not find a lender to work with them. These represent the highest, most severe risk classes, where past histories of delinquency or default is too great for the lenders to approve under any circumstances.

Loan terms may vary and are part of the negotiation process as we get you approved. We recommend loan terms up to 60 months, but we usually strive to get loan terms of 48 or 54 months. Longer terms will decrease your monthly payments, but increase the overall interest portion of the loan. For some this is necessary due to budget limits, other obligations or just getting the payments low enough to make it work. But remember that cars are subject to wear and tear, rust, etc and a excessively long term may put a vehicle into a heavy maintenance requirement due to age. We feel we have your best interest at heart when we recommend these loan durations.

Other vendors will only suggest 72 and 84 month loans. These durations, despite seeming low monthly payments, dramatically ramp up the total interest paid over the life of the loan, provide little monthly pay down of the principle and over all they are not in the client's best interest. We call these ' never done' loans. But, if cash flow is a problem, then you can choose to go for a longer loan term.

You can apply for a loan any time, 24 hours per day. Our Special Finance managers will examine your request as soon as they get notified of your application. We can get you approved as early as the same day or usually within 24 hours of receiving your application during normal business hours.

Our Special Finance Managers are ready, willing, and able to talk to or meet with you to discuss any aspect of your credit or vehicle purchase from beginning to end. Each manager will personally handle all aspects of finding a suitable lender, discussing vehicle options and ensuring that title registration, document signing and delivery all go smoothly. No hand offs to other salespeople for high pressure sales tactics. Our managers are professionals with several years experience in the car industry and training to ensure we provide a level of service above your expectations.

These professionals have additional training in the Special Finance industry and are continually made aware of new programs introduced by our lenders to meet your needs in this area. All our managers are licensed to sell cars in Ontario. With over 500 new and used vehicles in stock, we can quickly satisfy even the most demanding of clients.

Contact Armando Sy toll free at 1-877-797-5590 or send him an email. Our office is located (on the mountain) on Upper James St in Hamilton. Schedule an appointment today or apply now for a loan. Armando will contact you.

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