FREQUENTLY ASKED QUESTIONS
Why use LendingArch?
Because you will love the experience. The car buying process can be painful, we get it. At LendingArch, we will support you every step of the way, we understand your pains and make the process as easy and fast as possible.
What kind of vehicles do you have access to?
We have a network of hundreds of dealers nationwide. They have inventories of every vehicle imaginable. We will help you find the right dealer who can get you the financing you need and driving the vehicle that works for you.
What happens after I complete the process with LendingArch?
- If its during normal business hours, you will be contacted by the dealership closest to you in order to complete the process. The best part. They already have most of the information required to get your loan finalized and get you driving.
- You can also call us, and we will do everything over the phone, and then get the dealership on the phone for you, who will then take over and complete the process. This is even quicker.
How much can I get pre-approved for?
That’s all based on your personal financial circumstances. The good news is that we have options for people with all types of credit. The most important part to us is you walk away with the car that meets your needs, at an affordable price.
How long does it take to pre-approve?
- Our application takes a couple of minutes. Once completed, a LendingArch loan specialist will contact you to go over your application, learn about your needs and connect you directly with a dealership partner or lender that can get you financed and driving.
- If you are calling LendingArch (1-877-669-0432) our loan specialists will take your information over the phone and will connect you in to the dealership right away so you can get the process completed even faster.
Do you take trade ins?
Yes!! Our dealerships and lenders work with your existing vehicle, even if you still owe money on it. There are instances where we can use your existing vehicle as a down payment on your new vehicle, to help lower your monthly payment.
I’ve had a previous bankruptcy?
We can help. We have a network of dealers who have access to financing options for people with all types of credit. Bankruptcy, divorce, new to Canada, first car, no credit, good credit, we will work to get to you a solution.
Will a car loan help my credit?
long as you make your payments on time as outlined in your loan agreement, your new car loan will report positively on your credit bureau.
Are you a loan broker?
When you apply with LendingArch, what you are getting is a loan specialist that knows which dealership to connect you with to is match people like you with the right dealer partner who can get you approved and driving. The dealer partner takes care of the financing options, we make sure that your experience is smooth.
What are the minimum requirements?
You need to be the age of majority in the province that you live in, and you need to be a permanent resident of Canada. In terms of credit, we have options for people with all types of credit.
Do I need a down payment?
Not necessarily. If you do have an amount you can put down, it will help to make your new loan payments smaller and more affordable.
Is my personal information secure?
Of course! Your personal information is secured by point to point SSL encryption according to business standards. From a platform level we encrypt your password and your personal details, and to add to this we encrypt your SSN so it's only readable for the sub services we use when doing the credit scoring, etc.