Banks and Loans

[wallbr]

Hello there. I am with TD for 2 years and I have a Open Work Permit. I was thinking of canceling my account because they couldn’t even help me with a $7000 loan to buy a new truck, they offered me a credit line and declined and they never increase my credit limit which is just $500. So I am here to ask an advice with which bank to open a new account with?
Thank you

 

[BC4life]

Do you have your payroll account with them? A car loan should not be that difficult to get although I am not sure if the banks are more strict with non-citizen or PRs. Changing of bank will not help much as you will have to start your history with them from zero.

 

[wallbr]

Do you have your payroll account with them? A car loan should not be that difficult to get although I am not sure if the banks are more strict with non-citizen or PRs. Changing of bank will not help much as you will have to start your history with them from zero.

Yes I do, I sent an email to them today. They said they don’t accept work permit holders for loans, that I need to be a permanent resident. I just think it’s a little ridiculous.

 

[BC4life]

Did you specifically mention that you were requesting a car loan? That is a bit surprising as I would assume with the car they will hold the title of the car until you pay off the loan, so they are somewhat protected and it is not a fully unsecured loan.

You may also ask the dealership that you are planning to purchase the car from but their rates would probably be higher than if you got it directly from your main bank.

 

[wallbr]

Did you specifically mention that you were requesting a car loan? That is a bit surprising as I would assume with the car they will hold the title of the car until you pay off the loan, so they are somewhat protected and it is not a fully unsecured loan.

You may also ask the dealership that you are planning to purchase the car from but their rates would probably be higher than if you got it directly from your main bank.

Yea that’s what I thought. I guess TD doesn’t do it, thats why I was thinking about changing banks.