NL Rides works with a large network of financing partners to seek out the best car loan options for you. We feel your credit shouldn’t interfere with your financing needs, and our simple approach keeps the process straightforward and stress-free. Join the thousands of Newfoundlander and Labradoreans who have been approved in as little as 24 hours, regardless of their credit score!
Step 1: Tell us the type of vehicle you want
Indicating which type of car you want helps us find the right dealers and determine a monthly payment you can afford. But don’t worry: You won’t be locked into purchasing the model you specify during this step.
Step 2: Fill out a brief application
Providing basic information such as employment, address, and contact details helps us determine the right vehicle for your budget. To do this, we may need to contact you during this process.
Step 3: Matching you the right vehicle, payment and dealer
Once the previous steps are complete, we match your application with a certified dealer partner who will contact you to discuss your vehicle options and determine an affordable monthly payment.
How credit scores work.
Were you told your credit is fair, uncertain, or poor, and wondered what is all means? Don’t worry: Credit isn’t as complicated as it sounds.
Your credit score can be anywhere from 900 (excellent) to 680 (good) to 300 (terrible). To calculate it, creditors look at six criteria. They are listed below in simple terms, and in order of importance.
- Payment history: how frequently you’ve paid bills in the past.
- Credit utilization: how much of your available credit you have used.
- Credit history: how long you’ve had loans.
- Credit diversity: how many different kinds of loans you have or have had at a time.
- Public records: whether you’ve had bankruptcy or collections issues in the past.
- Credit inquiries: the number of times you’ve applied for credit in the past.
Understanding how credit scores work is the first step to repairing bad credit. Keep the above criteria in mind as you continue to build your credit, and you’ll be approved for loans before you know it!
