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Find A LenderLendCare: Overview
LendCare was first established in 2004 as a financial service company in Pickering, Ontario and Montreal, Quebec. They’ve partnered up with multiple businesses across Canada in order to offer affordable financing options to consumers. They offer loan terms up to 5 years with flexible payment options so that any consumer can find a solution that meets their needs and fits within their budget. Their customer base is mainly comprised of non-prime consumers, meaning even if you have bad credit, you may still be eligible for a loan with LendCare.
What Can You Finance With LendCare?
LendCare provides financing options to help consumers cover big purchases. Consumers can finance items from a number of industries including:
- Auto and Recreational Vehicle Financing
- Powersports Financing
- Home Improvement Financing
- Retail Financing
- Boat and Watercraft Financing
- Healthcare Financing
- Veterinary Financing
It’s important to note that in order to finance your item, you’ll have to make a purchase through one of LendCare’s partners. While this may seem limiting, LendCare has a huge network with over 6000 partners you can shop from.
Who is Eligible For a Loan With LendCare?
LendCare accepts a wide variety of credit profiles. Like many other bad credit lenders, they likely look at other financial factors to determine whether you qualify for a loan. In fact, rather than focusing on your credit history, these lenders will look at your current overall financial health. This includes your income level, job stability, and your debt-to-income ratio.
Costs of Getting a Loan With LendCare
LendCare offers flexible financing solutions with terms of up to 5-years. Depending on the rate and the term length you get, the cost of your loan will vary. When getting a loan, it’s important to understand how these two factors will affect the cost of your loan.
- The Interest Rate – When calculating the cost of borrowing, be sure to ask for the annual percentage rate (APR). An interest rate simply represents the amount you’re charged for the loan, but an APR includes all the costs associated with the loan. This includes fees such as administrative fees, loan origination fees, and other service fees such as loan insurance. These fees can significantly increase the cost of your loan, so it is essential that you find out the APR, not just the interest rate.
- The Term Lenght – As mentioned, LendCare offers financing with terms up to 5 years. Depending on the term length you choose, the amount of interest you pay will vary. In general, the longer your term, the more interest you’ll pay over the course of the loan. Of course, depending on your financial situation, it may be better to opt for a longer-term as it comes with lower monthly payments.
Benefits of Working With LendCare
- Lower Requirements – Unlike banks and other traditional financial institutions, LendCare works with consumers with all types of credit profiles. Those with low and high credit are eligible for financing with LendCare.
- Customer Service – LendCare customer support can be accessed in numerous ways including live chats, email, and over the phone. Whether you need an answer to a quick question or an in-depth conversation about your needs, you’ll find the support.
- Flexible Solutions – LendCare understands that everyone’s financial situation is not the same. That’s why they provide flexible and customizable financing solutions that work with you.
LendCare FAQs
Can I get a business loan with LendCare?
Can I pay my loan early?
What payment frequency does LendCare offer?
How do you get a loan with LendCare?
Bottom Line
Whether you’re looking to purchase a car, a boat, a washing machine or some other major expense, LendCare has a solution for you. With 5 year terms and affordable rates, you’ll be able to finance your purchase without overextending your wallet. Moreover, LendCare offers its services to borrowers with all types of credit profiles, so you’re rate for approval will be pretty high.
