RBC My Auto Affordability Tool
Terms and Conditions
RBC My Auto Affordability Tool Terms and Condition
- 1. This contract is between Royal Bank of Canada (the "Bank") and an individual ("you") who is seeking an estimate of the amount of an auto finance loan that you may qualify for.
- 2. The Automotive Finance Affordability Tool ("Affordability Tool") provides an estimate of the amount of auto finance loan you may qualify for with the Bank at the present time, based on the information provided. The result provided by the Affordability Tool is based on the accuracy and completeness of the information you have provided.
- 3. This is an automotive lending pre-qualification. It is not an approval or pre-approval. You must submit a separate application for an automotive lending approval or a pre-approval and a full credit report which will be subject to formal verification processes and assessed on current credit adjudication policies. You should not waive any financing condition based on the results of the Affordability Tool.
- 4. Your personal and financial information and that of any co-applicant, including your credit status, (your "Information") will be collected and retained by the Bank and used for these purposes: To assist with you with an automotive lending pre-qualification
- 5. The Bank does not make any express or implied warranties or representations with respect to any information or results in connection with the Affordability Tool. The Bank will not be liable for any losses or damages arising from any errors or omissions in any information or results, or any action or decision you make in reliance on any information or results.
To contact you at the email address provided and to assist you with any subsequent automotive lending application
For these purposes, we may: Provide the Information to a credit reporting agency in order to identify you and to determine your credit status. You will be required to answer a question based on your credit report for authentication purposes. Your credit status will be used by the Bank to estimate the loan amount you may qualify for using the Automotive Affordability Tool. Make the Information available to our employees, agents and service providers, who are required to maintain the confidentiality of the Information. In the event our service provider is located outside of Canada, the service provider is bound by, and the information may be disclosed in accordance with, the laws of the jurisdiction in which the service provider is located.