Have you experienced a bankruptcy and find yourself in need of a car loan in Toronto? It may feel impossible to ever get a car loan again after going through a bankruptcy, but don’t give up. You might still be eligible for a bad credit car loan.
A bad bankruptcy can happen to good people and it is comforting to know that there are car brokers and dealers available to help you get a bad credit car loan (which is also a good place to start rebuilding your credit history).
Some people don’t think of using an auto broker for a car loan because of their poor credit, but this can be your best choice if you know what to look for. Not all auto brokers offer this service but if you can locate an office in your area that caters to people with bankruptcies or bad credit, this can be a great place to start.
The difference between an auto broker and a car salesman at a dealership is that the broker works for you and has your best interest in mind. A regular car salesman is only at the dealership to make a sale today!
If you need a new vehicle, contact an auto broker and discuss your situation with him or her. Because your credit history is specific to you, you will want to be up-front and honest with the salesperson. This will allow them to find the best possible deal for your circumstances.
An auto broker has relationships with many lenders and they will do their best to find the best terms available for a car credit loan tailored for your situation.
In addition, a car broker has several sources from which to locate a car that will suit your needs. The salesperson uses such sources as auctions, online auto sites and trade-ins to find good, quality used cars. Discuss with the broker what you are looking for in a vehicle. Maybe it is a SUV you are looking for. Or possibly you are in the market for a gas efficient compact car to commute back and forth to work.
No matter what type of vehicle you can rest assured that the car will be mechanically sound. Most auto brokers have their own service technicians that thoroughly inspect each car to assure that it is running at its best performance and safe.
An auto broker may be the perfect resource if you have recently experienced a bad bankruptcy and find you are in need of a car credit loan. Want to learn more? Fill out an online application here!