Frequently Asked Auto Finance Questions

Find answers from Legacy Auto Credit on frequently asked questions about credit and auto financing. If your question is not answered below, please don’t hesitate to Contact Us We are also constantly updating our FAQ so please feel free to suggest a topic.

+Is Legacy Auto Credit for me?

Legacy Auto Credit was created to ensure that everyone has equal opportunity to drive a safe and reliable vehicle. Don't let credit concerns keep you from your next vehicle. We have the experience and resources to help with all types of credit situations:

  • Bad credit
  • No credit history
  • Slow, late or missed payment history
  • Past/Current bankruptcy
  • Consumer proposal
  • Repossession
  • New to Canada
  • Divorce
  • Low income
  • Orderly Payment of Debt
  • Poor credit due to unexpected events
  • Self Employed 
  • ODSP / Pension

Regardless of what has happened in your past, you deserve some credit.

+Do I qualify for auto financing from Legacy Auto Credit?

In order to qualify for vehicle financing, there are some basic qualifications required:

The basic qualifications are:

  • Able to obtain automobile insurance.
  • Possess a valid driver’s license.
  • A valid phone number and proof of residence.
  • Proof of income.


+How much does it cost to apply for auto financing?

Nothing! Finding your next vehicle and financing options available is completely free with no obligations.

+If I declare bankruptcy, how long before I can get credit?

Legacy Auto Credit will approve credit one day after filing for bankruptcy. Every situation is unique and we look at your ability to pay, not your past history. 

+Do I need a co-signer?

In some cases, such as in the purchase of your first vehicle or in the case of no credit history, a co-signer may be required and may be beneficial. In the event that you require a co-signer, look for someone who is financially responsible. If you do run into trouble in making your payments, your co-signer will have to make the payments on your behalf. If they don’t, you will be responsible for the loan.

+Do I need a down payment?

In some cases yes you may need a down payment, Legacy Auto Credit has a unique start up program that lets you get into a vehicle today and pay the balance of your down payment over time. 

+How can I improve my credit rating?

With Legacy Auto Credit we report to Equifax every month. this will improve your rating over the term of your lease.

+How can I apply?

it's easy simply click APPLY NOW and submit your contact information, one of our experinced team members will get in contact with you to quickly to start your application.

+Does Legacy Auto Credit offer new or pre-owned vehicles?

We provide high quality pre-owned vehicles, as well as new vehicles.