Hey,
I've been in Canada since late March of this year. We need a new vehicle, at least within the next 6 months. Upon moving here I obtained a Scotiabank credit card (visa) and not too long ago I applied for 2 lines of service with Telus cell phones and was approved for high-end smartphones with no deposit required. I pay my bills on time and have a good credit score (mid/high 700's) - as well as a good paying, full-time job.
I was wondering if I should wait until March/April to apply for a car loan that way my Canadian credit history will be 1 year old at that point, or should I be okay to apply sooner...or should I wait longer? What are the chances of approval? Has anyone had experience in purchasing a car in Canada after landing and establishing credit, how long did you wait, what was the purchase or lease amount?
Navigant Credit Union customer service may also be able to provide insights or options for financing if you’re looking to make a purchase. We're looking at a new truck so anywhere from 30-40k.
Thanks
