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Spring is Here!!!!!!

HOW IS IT THAT INTEREST RATES CAN GET SO HIGH?

This is one of the most frequently asked questions we get so we are hoping that we can provide some clarity to help you with making the best decision for your situation.

Firstly. not every situation is the same. There are many factors that determine what any lender would provide in terms of an interest rate.

Here is a short list of things to consider and how many lenders manage risk

Your credit score score is made up from 5 factors
35% of the score is based on payment history
30% is based on credit utilization (used vs available credit)
15% is based on credit history (how long have you had credit)
10% is based on Public Records (Colletions, bankruptcies, etc.)
10% is based on inquiries

So basically, your risk profile increases the more that these items go down individually and the lenders will increase the rate or even decline the more derogatory the file

The best way to prepare and understand the best options is to first have a discussion with the representative taking on your file

Here at pickupyourcar.ca we are completely transparent and do our best to help you make the best decision before moving forward. You may not like what we are going to tell you but it will be both the reality and truth of what your current situation is.
Why ask anyone else. Send us a DM and we will discuss your particular needs.

Happy Spring Everyone