1 March 2021 12:34 am / Road Trip Drivers Buy a Car Finance a Car

We’re Not Canada Drives: Why We’re Proud of That

We’ve been made aware of the fact that BC Drive and Canada Drives sound an awful lot alike, but we’re here to set the record straight - we’re not Canada Drives! Now don’t get us wrong, we have nothing against Canada Drives. Period. But we think it’s important to acknowledge some key differences between the two companies, and highlight a few of the things we do here at BC Drive that we’re truly proud of.

Above all else, our goal is to help you get the car you need, and financing you can afford - no matter your credit score. We’re proudly bringing better vehicles and better options to drivers from all across the Sunshine Coast - here’s how BC Drive is doing it!

The Hard & the Soft of the Matter

Let’s start at the beginning. There are two main types of credit inquiries: hard credit inquires and soft credit inquiries. When you apply for financing, such as for a large purchase or a new credit card, one of the first steps in the process is for lenders to run a credit inquiry. They want to look at things like how you’ve handled your finances in the past and how much debt you’re currently holding, so that they can make an educated decision about whether they want to grant you access to additional funds. Now, the difference between whether a lender runs a hard credit inquiry or a soft credit inquiry is important:

  • Hard Credit Inquiries. You have to approve this type of credit check, and it typically has a negative impact on your existing credit score. Yes, you read that right - a hard inquiry (or hard credit check) can temporarily damage your credit score. Not only that, but evidence of a hard credit check can stay on your credit record for up to two years, which can impact your ability to apply, or be approved for financing down the road.
  • Soft Credit Inquiries. In contrast, soft credit inquiries will not have any impact on your credit score. Some lenders will run a soft inquiry (or soft credit check) as a way to see which type of credit or loan you qualify for before moving into the next stage of an application. Further, soft checks will not be branded to your credit record, providing you with more flexibility when it comes to applying for loans and credit in the future.

At BC Drive, we are not in the business of running hard credit checks. Instead, we ask you to simply fill out some personal information, including your current employment status, brief financial history and your address. Then, we look into what your credit options are - with no unpleasant ‘ding’ to your credit score - and pair you with a certified dealer who can help you find the perfect new vehicle for your budget. No negative impact to your credit, and no public record of a hard credit check. Not only that, but every step of the process is completed online. This keeps you in the driver’s seat at all times, and out of the high-pressure situations that can occur during in-person interactions at a bank or dealership.

No negative impact to your credit, and no public record of a hard credit check. Just vehicle & financing options that meet you where you are - no matter your credit score.

If you think you’ll just be passed off to some nameless dealership, then think again! It’s true that we have an extensive network of dealers that we work with all across British Columbia - this is one of the key ways in which we are able to bring so many vehicle options and financing solutions to our customers. The difference is that we take the time to ensure that each of the dealers we work with are transparent, trustworthy and embody BC Drive’s core values. We follow up with both you, and your dealer, to guarantee your satisfaction from the time you fill out your initial application to the moment you get behind the wheel of your new car.

Your Personal Finance Professional is Standing By

It’s time to say ‘no’ to public hits to your credit record and dings to your credit score - there’s a better way to get approved for affordable car ownership with BC Drive! We’re proud of the approach we take to vehicle financing, and have helped thousands of BC drivers get into vehicles they love - good, bad, or no credit. Your personal finance professional is standing by - reach out to our team today!

CONTACT YOUR PERSONAL FINANCE PROFESSIONAL

Get approved today.

Join thousands of Canadians who have trusted BC Drive.