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It's prime-time for sub-prime loans | LendCare...
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6 November 2019

Business

It's prime-time for non-prime loans

Did you know 30% of Canadians cannot get bank or OEM financing approval for their new vehicle?

Often these consumers may have a high level of credit, but given their risk factors , require, at least in the short-term a non-prime lending solution.

TransUnion reported a 4.2% increase in consumer credit balance in Q1 of 2019. It just so happens that the auto industry is one of the largest markets where this growth is taking place.

Good news for Canadian dealerships.

66% of all Canadian consumers seek financing directly from a dealership. This is 10% above the global average, signaling a huge opportunity in the non-prime market for car dealers.

The opportunity to capitalize on this consumer market is a great way to generate more business and sales volume. It takes very small changes in how a dealership handles these customers to start seeing a very large increase in revenue.

That’s where we come in…

LendCare provides your business with full circle financing solutions that fit everyone’s needs. We don’t make you jump through hoops to get your sub-prime customers approved and have less conditions than your traditional lending options. We get you lightning-fast approvals, right at point of sale, then direct deposit your funds within a few days of you booking the deal.

LendCare gets you paid and takes care of everything that comes after. We are the perfect solution for catering to all your customers, regardless of their credit score, while helping you maximize profit and customer retention.

Don’t believe us? Send us your declines today, and see for yourself how LendCare will change the way you view credit potential.


LendCare to be acquired by goeasy Ltd.

LendCare to be acquired by goeasy Ltd.


On April 12, 2021, we announced that LendCare has entered into an agreement to be acquired by goeasy Ltd. goeasy is one of Canada’s leading providers of non-prime leasing and lending services offering a wide variety of financial products that help put Canadians on a path to a better financial future.


We are excited about what this strategic acquisition means for LendCare, our employees, customers and our partners. We will continue to build on the incredible growth we have achieved to date and accelerate our growth strategy as goeasy makes investments in the LendCare business.


LendCare will continue to operate as it does today, so there are no changes to how you work with us. Our existing leadership team will remain in place and you will continue to work with the team as you always have, business as usual. Our teams will continue to provide the high level of support you are used to receiving.


Read more about this announcement.