Question 1

Can I get a car loan in Saskatoon while my consumer proposal is still active?

Accepted Answer

Yes, in many cases. Lenders generally want to see the proposal in good standing with a track record of on-time payments, plus verifiable income. Some lenders also ask for a letter from your proposal administrator confirming the proposal is in good standing.

Question 2

Will a car loan hurt my proposal?

Accepted Answer

Not if you can carry both payments. Your administrator's concern is that the proposal keeps getting paid. Keep the vehicle payment modest and the proposal untouched.

Question 3

How long after discharge should I wait?

Accepted Answer

You do not have to wait. Terms usually improve as you add clean payment history after discharge — one small reporting trade line, such as a secured card, paid on time helps.

Question 4

Do I need a down payment?

Accepted Answer

Not always. Any down payment or trade equity lowers the payment and opens more lender options.

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