Auto Loan after Repossession

May 25, 2012

The Canada Drives office frequently received questions from Canadians who have experienced the repossession of a vehicle in the past, and who are looking for a fresh start in financing. We always seek to help consumers facing all types of financial circumstances, but we also want people to understand what they might be facing

Some of the most common situations for a vehicle being repossessed include:

  • The loss of a job, or a medical situation that have made it difficult to work.
  • Vehicle purchased was a lemon and voluntarily returned to the dealership.
  • Excessive bills became unmanageable and payments became too difficult to make.

In each circumstance, it is still useful to know what your financing options might be and what vehicles would be available to you. In the case that you might want to use Canada Drives to help you locate new options, we will work with our extensive network of dealer partners in order to help you find a great vehicle to help you with your daily routines after your repossession.


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