Question 1

My Credit isn't so great, can I get approved?

Accepted Answer

YES! We don't care about your credit! We specialize in getting you approved if you've experienced damaged credit in the past! When the bank says no, we say YES! We have a very high rate of approval and can get you on the trails FAST!

Question 2

What's my interest rate?

Accepted Answer

It all depends on your personal credit situation. We won't know your rate until we submit your application.

Question 3

Where can I buy? Can I shop where I like? Can I buy private?

Accepted Answer

Wherever you want! New, Used, Private or from your Favorite Dealer! Our customers liked that they knew how much the had to spend, in advance, shopped where they wanted, and negotiated the best deal based on the amount they had to spend. 
You are Pre Approved, No rejection, and negotiating effectively from an area of strength, not worrying about "how" you can pay. Your approval from Bullfrog is as Good as Cash in Hand!

Question 4

Do I need a down payment?

Accepted Answer

No. Sometimes a down payment is needed, but mostly you are approved with nothing down. If you want to put money down or a trade in your old unit at a dealer, you can.

Question 5

I do not live in Ontario, can you still help me?

Accepted Answer

Yes. We can help you if you live in any Canadian Province, with the exception of the North West Territories. Everything can be done Electronically or via Fax.

Question 6

Do I need a Co signer?

Accepted Answer

No, not initially. You can however use a co signer. Sometimes it is a condition for your approval. Sometimes it can get you a better rate, a second unit, or longer term. You do not however initially require one.

Question 7

Do I need full coverage insurance?

Accepted Answer

Yes. While your vehicle is financed you will need full insurance coverage.

Question 8

How long are my payments?

Accepted Answer

The year of your purchase determines how long you can finance for. The newer the unit, the longer the term, the lower the payment.

Question 9

What is the minimum income requirement?

Accepted Answer

It varies. We look at your TDSR (Total Debt Service Ratio) to ensure that you can afford the payment as well as your other monthly obligations.

Question 10

Is there a maximum or minimum payment I can have?

Accepted Answer

No. The payment will depend on the amount you finance.

Question 11

Can I payout or refinance my loan early?

Accepted Answer

Yes. You can pay down / pay out the loan whenever you want. There is no penalty for pre payment

Question 12

Can you payout my current loan?

Accepted Answer

Yes. If you owe money on your current loan, we can pay that out for you and refinance the negative equity on your current purchase.

Question 13

Do you offer extended warranty's?

Accepted Answer

Yes. We have many different options for an extended warranty available, and normally you can finance this cost.

Question 14

Are there any upfont fees or costs for applying?

Accepted Answer

No. It is illegal to ask for a fee to apply for a personal loan. DO NOT under any circumstance pay fees upfront to apply for a loan. There are administrative fees, the same as every other financial institution, and they vary depending on the lender. These fees will be transparently rolled into your loan, and are only applicable on an approved transaction.

Question 15

Does everyone get approved for a loan?

Accepted Answer

No. Although we have an exceptionally high rate of approval for less than perfect credit, not everyone is approved for a loan. There are certain criteria that must be met, such as your income, being gainfully employed for a certain amount of time, having recent pay stubs, having an active bank account, being discharged from a bankruptcy, your Total Debt Service Ratio etc. Our underwriters do not base their decision strictly on credit score, but look at the history of your credit bureau, what may or may not have happened, and your ability to repay the loan.

Question 16

Once I am approved, am I obligated to take the loan?

Accepted Answer

No. If you do not accept, or cannot comply with the terms, you are under no obligation to continue with the process. The terms of the loan will be clearly explained in the contract, and verbally explained before you enter the contract. All parties must agree to the terms before the process at anytime moves to next steps. The ball is always in your court.

Question 17

I have a question but its not listed here?

Accepted Answer

You can simply send us a quick message with your question and we will happily respond to you asap.
info@bullfrogfinance.ca or call 1 888 540 7555

FAQ

Frequently asked questions