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New Comer to Canada - Issue in getting car finance

jagan542

Star Member
Aug 12, 2018
73
43
Hello Experts,
I need your suggestion on getting finance to buy a car for myself.
I am new to Canada, it's been a week. Most of the banks and dealers are asking for a job appointment letter, which I do not have one in hand right now. I started applying for jobs at this point in time.

Please suggest me if you have any solution for this or if you know any dealers that would help the new comers.

Thanks in advance.
 

zardoz

VIP Member
Feb 2, 2013
13,323
2,158
Canada
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London
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16-02-2013
VISA ISSUED...
31-07-2013
LANDED..........
09-11-2013
Hello Experts,
I need your suggestion on getting finance to buy a car for myself.
I am new to Canada, it's been a week. Most of the banks and dealers are asking for a job appointment letter, which I do not have one in hand right now. I started applying for jobs at this point in time.

Please suggest me if you have any solution for this or if you know any dealers that would help the new comers.

Thanks in advance.
No job and no Canadian credit history? The only people who are likely to finance you are people you do NOT want to borrow from.
 
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James_NZ1

Hero Member
Jan 15, 2017
211
49
Ontario
Category........
FAM
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Sydney, Australia
App. Filed.......
14-07-2017
Passport Req..
09-08-2018
Why finance a car? If you look hard enough and in the right places you will find a very good quality 2nd hand car.
 

zardoz

VIP Member
Feb 2, 2013
13,323
2,158
Canada
Category........
FAM
Visa Office......
London
App. Filed.......
16-02-2013
VISA ISSUED...
31-07-2013
LANDED..........
09-11-2013
Thanks all !! :)
One word of advice.. Consider going to a reputable dealer rather than buying privately from a stranger, at least until you have been here for a while and "learned the ropes".
 

vensak

VIP Member
Jul 14, 2016
3,871
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Category........
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Vienna
NOC Code......
1225
Job Offer........
Pre-Assessed..
a cheap second hand car is ok for the start. And even that one I would not advise until you get a job.
Word of advice, try to move close to public transport first. Start applying and just rent out a tiny car if needed for that day or week. Get your Canadian driving licence started (or exchanged) and only once you get a job then go for a car (again you can do 1 or 2 weeks renting there).
Why? You do not know if you will get your job offer fast or slow. And with just a learner driving licence, you can forget to insure that car (which means to be able to get plates for it as well).
 

BC4life

Hero Member
Nov 5, 2015
580
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Toronto, ON
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HKVO
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Hello Experts,
I need your suggestion on getting finance to buy a car for myself.
I am new to Canada, it's been a week. Most of the banks and dealers are asking for a job appointment letter, which I do not have one in hand right now. I started applying for jobs at this point in time.

Please suggest me if you have any solution for this or if you know any dealers that would help the new comers.

Thanks in advance.
If you have been here just for a week, I am assuming you haven't got your Canadian driving license yet? How do you plan to get insurance without that license?
 

sistemc

Hero Member
Feb 2, 2014
514
177
I don’t know your background, driving history, profession or financial situation. Except that you are jobless, in a new country, without an established social network.

My advice to you would be - don’t get a loan or a lease, buy an used car that you can afford, and ask for a Carfax report.

And if you’re in Ontario, get a G license first, before buying or insuring a car.