Can I Get a Car Loan With a New Job in Ontario?

Can I Get a Car Loan With a New Job in Ontario?

Posted on February 15, 2023

The jobs market is still buoyant in Brantford and there is still a lot of economic activity despite the global and national situation. So, can you get a car loan in Brantford if you just started your new job?

Yes you can!

As long as you work with the right people.

Brantford car loans and new employees

Our Brantford car loan team know of a few lenders willing to work with people in new jobs. We can even find loans for people who only just started their new job!

Employee for a year or more

If you have had the same job for a year or more, you can access standard car loans. As long as your credit score is sufficient and you can prove your income, you should have no problem accessing standard loans.

Employee for less than a year

Even if you have been in your job for less than a year, we can still get you a car loan in Brantford. As long as your job is full time and/or permanent and you can prove it, we can find you some very competitive deals.

Employees for less than three months

If you’re very new to your role, most mainstream lenders won’t let you borrow. We know some specialist lenders that will let you borrow. You will need the paperwork to prove your income, proof that your job is permanent or full time and proof of any other income.

Your car loan application will be based on your credit score, history and ability to pay. If you qualify, it doesn’t matter if you have only been in post for a few weeks.

Employee for just 24 hours

Did you know it is possible to get a car loan even if you have only had your job a day? Well it is! This can be very useful if you used to walk or get the bus to your old job but now have to drive to your new one.

You will have to prove income, have an offer letter or letter from HR outlining your role, the salary and whether it’s permanent, full time or something else. As long as you qualify for the loan in other respects, we can find you a great deal on a car loan Brantford even if you’re in a new job.

Car loans have moved on a lot from those bad old days of having to go to the bank manager cap in hand begging for a loan. Now it’s a competitive market with many types of lender all vying for your custom.

While there are still criteria and a raft of rules in place, the market is now much more open and much more willing to consider all kinds of situations. New employees are just one of those situations.

When you’re ready for a car loan, get in touch with the Brantford car loan experts at Northway Ford for great deals on auto finance.

Be sure to connect with us on Facebook, Twitter, Instagram, or LinkedIn to stay up to date on our latest great articles!