rushautos.com scam?

[canadaaussie]

Good day,

My name is Lawrence, I'm a new member to this forum. I am hoping this is the correct thread.

I have no credit in Canada. I am looking to purchase a a vehicle. I do not want to deal with a loan shark.

Rushautos.com advertises "no credit check" rent to own vehicles.

Their website is not https and has a Social Insurance number field. has anyone purchased from them?

[ekguy]

:english:

[FraserB]

Find a bank that will take your Australian history into account. Serves Credit Union should, they take UK credit reports.

[Traffic_Cop]

Not a scam, but your payments are super high, as they are a high risk lender.

[Graham_A_M]

Look elsewhere, seriously. Avoid most of these "no credit is fine" type lending agencies, as some of them have annual interest all the way up to 20%.

[ddduke]

Originally posted by Graham_A_M
Look elsewhere, seriously. Avoid most of these "no credit is fine" type lending agencies, as some of them have annual interest all the way up to 20%.

THIS.

I'd rather find a 1k civic then have to ever deal with one of these lenders. They also have stupid penalties for paying off your loan early.

Go to a bank or buy a beater.

[bourge73]

^^ listen to these guys man. You are new to Canada, with no credit, you will get bent over. Buy a beater on Kijiji, I am assuming you are leaving anyways ( and have some money) so why bother...

[FraserB]

Originally posted by bourge73
You are new to Canada, with no credit, you will get bent over.

Like I said, there are banks that will take a foreign credit report into consideration. My co-worker just came from the UK and needed a car, bank was willing to use her UK credit history, get her the loan at 9% and then drop the rate after 6-8 months of good payment history here.

[RickDaTuner]

I've met the owner of rush autos, I've actually worked on his LS3 swapped Porsche.

The deal with his company is you basically rent the car for the first 6-12 months, then you can decide to do a private loan, or in house to finance or purchase the car.

If I remember correctly a portion of your monthly payments goes toward the down payment later on. These types of place work, if you have no other options, but the are at a premium, like other have stated.

I personally would be a 1-3k beater car and enjoy the non payments, with the potential to sell it for the same price a year later while you save money for a better car.

Welcome to Canada.

[Traffic_Cop]

Heres an idea. Buy a beater as the others have said. Go to any bank, or even apply on line to Capital One, and put money down on secured credit card. Dont use more than 50% of the cards maximum. After approx 6 months of good payments, your credit score should be excellent. Then you can apply for a conventional loan.

[haggis88]

long shot, but if you had an American Express card in Oz, then call them and get your card/account swapped over to a Canadian one...it's supposed to transfer the credit file that AMEX use over to the new country

i'm in the process of doing this just now from my UK Card to a Canadian one :thumbsup:

[natty54]

I know the owner and he is a personal friend deff not a scam

[Kloubek]

Well that was convincing.