Have a question? We have answers!

Have a question? We have answers!

Where is the Creditmaxx office located?

Our office is located in Saskatoon, Saskatchewan. With our select network of dealerships across the province, it is more than likely that we have partners located near you.

What exactly does Creditmaxx do?

Creditmaxx works to connect you with a dealer from our select dealership network. The dealership we connect you with, will best be able to meet your needs based on your location, your budget, and the type of vehicle you wish to buy. Once you have completed the application and we have connected you with the best dealership from our network, you can view their inventory and pick a vehicle that you want.

Will borrowing from Creditmaxx help me build my credit?

Yes it can. A vehicle loan is an excellent way to either build or rebuild your credit. As you continue to repay your loan on time, you will show that you have put your credit problems behind you. By keeping a good relationship with your vehicle lender, you will help to show other lenders that you are a good credit risk. If you want to learn more, read here.

What types of vehicles can you help me get?

We can help you get all types of vehicles, from cars and trucks to SUVs or minivans. Since our selected dealership network includes many dealers from across the province, we do not have a single inventory to direct you to. However, once you do apply, our dealership partner will help show you which options are available to you.

What requirements do I need to meet in order to be approved?

At Creditmaxx, we understand that many vehicle purchasers do not fit conventional lender criteria. While we want to remain as flexible as possible, there are certain minimum requirements a customer must meet in order to be approved and achieve the most competitive rate possible based the customer’s information:

  • Employment requirements
    Creditmaxx’s minimum employment requirements are three months on the job. Exceptions to this can be made when the customer is taking a new job in the same (or similar) are of employment, and/or the customer was at the previous job for at least one year.

Income requirements
Customers must be able to meet their loan repayment requirements. CreditMaxx will calculate a debt service ratio that takes into account a customer’s total monthly payments. This includes the vehicle payment, rent/mortgage payments, and any other payments or liabilities the customer may have. In addition to this, the customer must have a minimum gross income of $1,800 per month.

Can I get a car loan even if I have poor credit or no credit at all?

Creditmaxx has been able to help many people in a variety of special circumstances purchase a newer vehicle. In fact, it’s what we specialize in! In addition to your ability to repay the loan, Creditmaxx looks at your recent credit history, your employment, and your residency stability. We can register a lien/security interest against your vehicle with the credit bureau. This gives you an opportunity to earn back your credit rating.

Can you help me even if I’ve been turned down for an auto loan before?

We will locate a partner dealership in our network that will be able to calculate your approval options. Our partner dealer will call you to discuss the options available to you based on the information you have provided. Then, you can decide whether you’d like to purchase your new vehicle.

Can you give a vehicle loan to someone on income assistance?

Creditmaxx helps people in all situations, even those on income assistance. While the chances of you finding an approval can be a bit more limited, we will work hard to provide you with more options.

How much down payment do I need to provide to get the loan?

Depending upon the year of the vehicle you are purchasing (or the “age” of the vehicle”), your down payment be as low as $0 down. If your down payment is more than $0, any combination of cash (minimum of $500) or a trade-in may be used to pay your down payment.

How do I apply for Creditmaxx financing?

You can apply through our online application form, or by calling us at 1-306-931-6190 to speak directly to one of our car loan specialists. While our office hours are 8:30AM – 5:30PM, Monday To Friday you can leave a message and we will get back to you as soon as we can. If you have any questions during any part of the application process, our experienced specialists are happy to help.  

What kind of information do I need to apply?

In addition to providing standard credit information, Creditmaxx will complete an employment and income verification. Once the final loan documents are signed, you will also need to provide residency verification which can be completed by submitting a copy of your telephone or utility statement.

Will I need to do a credit check when I apply for an auto loan?

Yes, a credit check is a necessary part of the requirements to get approved for your auto loan.

How long will it take to know if my application was approved?

You can expect to hear from us within 1 business day of submitting your application.

Do I have to buy a vehicle if I applied?

No, you don’t have to buy a vehicle if you applied, whether it is online or by telephone. Our dealership partner will contact you only to let you know of what your options are, should you wish to purchase a vehicle. Once you know your options, you can decide whether you would like to purchase a vehicle or not.

How many months can I make my auto loan for?

While the age of the vehicle and the number of kilometers will decide the maximum term of your loan, Creditmaxx offers terms up to 84 months on newer model vehicles.

What will my monthly loan payment be?

Your monthly vehicle loan payment depends on the amount you finance. For example, if you were to borrow $5,000 over 36 months, your payment could be as low as $250.00 per month. If you would like a better idea of what your loan might be, use our online Car Loan Calculator or contact CreditMaxx at 1-306-931-6190 for more information.

Can I pay my loan off early?

Yes, you definitely can pay your vehicle loan off early. At Creditmaxx, our loans are declining balance loans, so you can pay it out at any time without any interest penalty.

How do I pay my car loan payments?

With your convenience in mind, Creditmaxx uses a pre-authorized payment system. All you have to do is pick the date you would like your payments to be made and we will automatically withdraw your payment from your account. With the pre-authorized payment system, there are no monthly statements or cheques to mail. As long as the amount of your payment is in your bank account prior to your payment date, you are good to go!