Car Loan Denied? What to Do Next in BC

Step 1: Get your free credit report from Equifax Canada (equifax.ca) and review it for errors.. Incorrect information — a debt you already paid, a mistaken late payment, or an account that is not yours — can be disputed and corrected within 30 days..Step 2: Calculate your debt-to-income ratio..

If denied due to credit score: wait 30–90 days while actively improving your credit (on-time payments on all existing accounts, paying down credit card balances below 30% utilization, correcting any errors on your report)..

If you need a vehicle now but cannot qualify for financing yet, consider these BC-specific options:

• TransLink monthly passes for Lower Mainland commuters ($100–$180/month)
• BC Transit in other BC cities
• car-sharing services like Evo and Modo (available in Vancouver
• Victoria)
• ride-share (Uber is available in BC)
• or purchasing a very affordable used vehicle with cash ($2
• 000–$4
• 000 can get a reliable older vehicle for basic transportation)

The biggest advantage of Easy Ride Canada after a denial is access to 20+ lending partners with different criteria..

Estimate monthly payments. Rates by credit tier. What you need to apply. How the process works.