Do Bad Credit Car Loans Exist?

You do not have the best credit, but it may not exactly be your fault. For example, you may make your credit card payments each month, but carry a bit of balance and have multiple cards open. If you have recently opened these cards, the age of your credit report may still be relatively new, causing your score to decline even further. After checking your credit score online, you may have noticed those numbers do not look so great. Even so, it is still possible to get a car loan.

Many people have bad credit for different reasons. You may assume that you will never receive an offer for a car loan because your report is not up to par. However, we are  willing to work with those who do not have the best credit. If you are one of those people, you may want to apply through us for one of the bad credit car loans. Even if you think you are not going to get approved, it is worth completing the application to receive your response.

One thing we do not want to do is keep you waiting. We make sure the application process is simple and gets straight to the point.  If you receive an approval from us, we will discuss the terms to make sure you understand how the process works. Our goal is to make sure that you can afford the monthly payments that you would owe after getting the loan. We will assist you in selecting the vehicle that best suits your needs. Never assume you cannot get a car just because your credit is not the best because there are people like us who want to help you.

Evaluating the Used Car Options Available to You

Now, more than ever, information about purchasing used cars is readily available at your fingertips. There is an abundance of valuable information that can help you find the car of your dreams. Even after you’ve narrowed your search down to specific makes and models there is still plenty to consider. For instance, there are different trim packages for each model, and fuel economy varies from vehicle to vehicle. The specifics of each make and model have wide variations that will impact your evaluations. The good news is that once you’ve settled on the specifics of what you need it’s easy to narrow down the results you’ve come up with.

Seemingly Minor Details Matter

Your evaluation process should include every bit of detail you can conjure up. This includes things like safety ratings and different pricing values you can find on each vehicle, or whether or not you want a V6 or V8 engine. All of these details matter when it comes to finding something that fits into your budget, and that fits your driving needs. The list considerations to keep in mind for used cars is especially vast, as mileage, rust, and other things related to wear and tear come into play. Take these and more into account when evaluating your options.

Assessing the Options

You’ve that once you have put in the research, you can contact us for a pre approval and we will assist you finding the exact vehicle that suites your needs.  Proper assessment of each of car you are looking to buy will lead you finding the one that’s right for you, so don’t hesitate to put in the proper research every step of the way.

Why Getting a Bad Credit Car Loan is Important

We have customers come to use each week that want or need to buy a car, but are not sure if they are able to take out a loan in order to afford the car. Many of these customers currently take the bus, use carpools, or have to ask other people for rides to school or work because they are nervous about being able to pay off their car loan with their bad credit.

Remember: we offer bad credit car loans to our customers that need them. Therefore, having bad credit should not keep you away from buying a car. Because having a car is important for many people, we’ve developed a list of questions that our customers should ask themselves. If you answer yes to any of these questions, then it is important that you talk to us about getting a bad credit car loan today.

1. Do you need a car to get to work? Most Canadians require a car in order to get to work. If you are worried about being able to afford a car to get to work, remember that if you can’t get to work, you can’t pay for your living expenses. Therefore, investing gin a car – even if you have to get a bad credit car loan – may be essential to helping you continue on with your daily life.

2. Can you afford low monthly payments? Most of our customers that are nervous about taking out a bad credit car loan are surprised by how low our monthly payments are. We work with each customer individually in order to develop a payment plan that suits their schedule and their lifestyle. Our goal is to make affording a car easy. Therefore, even if it takes a few extra years, we will help you to get your loan payments as low as possible so that you can afford your car.

3. Would you like to improve your credit? By taking out a bad credit car loan, you will actually be able to improve your credit because you will be developing a track record for being able to pay off your loan. This track record will be one that you can show a future lender in order to get a lower interest rate.

Contact us today for more information about why taking out a bad credit car loan is not only possible, but it is also affordable.

How to Get a Same-Day Auto Loan

If you are thinking about buying a used car with an auto loan, it’s important to us that you have all of the information necessary to make a wise auto loan decision for your needs. Here’s some basic information that you can use to secure a same-day auto loan through our company so that you can drive away on the same day that you apply for the loan:

Understand the auto loan process

When you apply for an auto loan, it is important that you are aware of what getting an auto loan entails. You will need to repay the auto loan over a period of several months or years, so it’s important that you understand how an auto loan works and what your responsibilities are. One of the best ways to learn more about how an auto loan works is to speak with one of our experienced fiance specialists either in person at our dealership or over the phone.

Apply for a loan

Once you have a clear understanding of what an auto loan is and what your responsibilities will be, you’ll need to complete the credit application. The credit application is a basic form that you’ll use to supply us with information about your credit history and current financial situation. Based on our analysis of your credit application, we’ll develop several different loan options that you can choose from when it’s time for you to get an auto loan.

Speak with a finance specialist

When you speak with one of our credit specialists, we’ll review your credit options with you. Again, these credit options will be based on your loan application and each option will be uniquely designed to suit your financial situation and needs. The finance specialist can provide you with more information about how these different options impact your credit situation and your buying power.

Select the right option

Once you understand the difference between all of the loan options, it’s time for you to take out the loan that best suits your lifestyle and needs. After you have selected the right loan, you’ll be able to find the right car for you that meets your financial restrictions and allowances.

Are You Hurting Your Credit?

Many people at all ages do not have a clear understanding of what credit is and how it can impact their lives for decades. In a nutshell, a credit history is a basic report that outlines an individuals financial investments, risks, and loans. Many items show up and remain on a credit history, including credit card account openings, mortgages, loans, and even other credit checks.

If you are looking for ways to improve your credit so that you can get a lower interest rate on a car loan and a higher loan amount, there are some strategies that you can and should take. However, there are also some things that you should avoid. Here are the top 3 things people do that can hurt their credit:

1. Change jobs. Many people are forced to change jobs due to economic circumstances, such as a lay-off or company closure. However, if you are able to limit the amount of times you change jobs, you will have a better credit history. This, of course, may not be possible for all people.

Lenders like to know that their borrowers have some degree of stability in their jobs so that they can project that the borrower will be able to pay back the loan as long as the borrower continues to earn a steady income. However, if you have a history of frequently changing jobs, lenders may wonder how you will pay off a loan in the interim while you’re between jobs. Lenders may also have questions about your income stability and your lifestyle stability that could potentially cause them to wonder if you are a high risk loan candidate.

Of course, it is possible to get a loan if you change jobs frequently. Simply be prepared to explain your job changes to the lender. You’ll also want to tell the lender your plan for being able to pay off the loan even in the event of a future job change.

2. Open store credit cards. Store credit cards are great, right? They help you save money on purchases that you make at a store and they offer additional special benefits. However, each open credit account that you have, including store credit cards, can hurt your credit score and your credit history. A lender’s typical view on multiple open credit card accounts is: the more open accounts you have, the more chances you will fall into debt with those other lenders.

3. Move residencies. Moving alone will not hurt your credit. However, if you are trying to improve your credit, then staying in one place for a lengthy amount of time can help to show lenders that you have a degree of stability. They will also be more likely to trust that you will be easy to contact if they need to reach you after they extend the car loan.

Contact us today for more information about improving your credit or to speak with one of our finance experts about getting a car loan today. We have access to a huge inventory of used cars and trucks.