Winter Driving Blog
Articles | Nov 22nd, 2016
Read MoreNew To Canada
They will have to have a valid work permit with the following criteria. • Copy of the valid work permit. The length of the work permit will determine the term of the finance approval. For example, a 2-year work permit will only grant you a two-year finance approval. • Will have to provide us with an employment letter stating annual income, position, and if this is a permanent or part-time position. • The financial institution will require a down payment of 25-30% of the finance amount • Co-applicant may be required because of zero credit utilization in Canada.
Permanent Resident
If you are new to Canada but have permanent residency the following criteria will apply. • Most recent pay stub within the last 30 days. • Social insurance number. • Down payment might also be a requirement from the bank. • A co-applicant might be needed depending on the customer's credit score and utilization.
