Do you have a credit card? Have you ever had a loan? Do you have a cell phone or a BC Hydro account? All of these things involve CREDIT.
I know the idea of a car loan being a stepping stone to getting a mortgage seems crazy but it really can be the gateway to homeownership.
As the only remaining locally owned and family run dealership in Port Hardy, we at E.J. Klassen Motorcade want to help our community to continue to grow and improve. To help with this we have begun this series about what credit is and how you can manage it. We want to help you fortify your credit against future dilemmas.
In Canada there are 2 primary credit bureaus for personal credit reporting. TransUnion and Equifax. To look into your credit history, you can visit www.transunion.ca and www.consumer.equifax.ca. It is important to check both since not all creditors report to both bureaus and the information that the companies provide can be vastly different. The bureaus will provide you with explanations and outlines on how to read and understand the reports. You are of course welcome to come by the store and let us help you interpret your file. If there is an item you want to dispute you will have the information required to start that process.
At Klassen’s when you apply for a loan or a lease we review your file with you and examine your best options for approval. Helping make sure that you are building your credit file we structure our credit facilities to protect you and your vehicle against all possible eventualities. Whether it is job loss; sickness; death; mechanical or structural problems we have options to help you.
If you have had credit issues in the past, have no credit currently, are recently or currently in bankruptcy or in a consumer proposal and need a vehicle we want you to come see us. We can provide you with options and start or restart that building process that will prevent you from falling into traps and pitfalls that can impact your credit.
Remember, this is your credit, your money and your future. There are no silly questions. Read contracts, read pamphlets. Ask questions, ask for clarification if you do not understand something. Credit is potentially a long-term commitment; knowing what you are signing up for is important.
Over the next few weeks we will look at more specific situations and what you can do and what the options are. In the meantime check your credit and GET FORTIFIED!