What to Expect When Reestablishing Credit with Car Loans

Reestablishing credit with car loans is a fantastic opportunity to improve your financial well-being while also providing valuable transportation for your family. When you carefully consider all of your options and make an educated decision about your lender, you will be taking tangible steps to improve your credit more quickly than you ever imagined.

Lenders who exclusively provide car loans want to help you rebuild your credit, because to do so means more business for them. If they can loan you more money, they will earn more interest. It’s a win-win situation for everyone, as long as you know your limits and don’t borrow more than you can afford to pay back.

Some lenders don’t always have your best interests at heart, and will charge you exorbitant interest rates for the privilege of financing a car with them. That’s why it’s important to be sure that the lender you choose is reputable and honest. In addition, make sure you know what your interest rate will be, and the total amount of money the car loan will cost you over the entire term. Finally, be sure you can afford both the total cost of the loan and the monthly payments.

Our online credit application is the best way in Canada to connect with responsible, reliable lenders who want to help give people a second chance. Once we receive your application, our credit specialists will get to work searching for the best financing to get you into a new car. We will seek out the best rate and terms, and can even sometimes do so with no down payment whatsoever. Our goal is to help you get that loan approved, even after a bankruptcy. We have helped thousands of people do just that, and we want to help you too.

Contact us or apply online today! Take that first positive step towards a brighter tomorrow.

Rate Shopping Tips for Low Interest Car Financing

Getting low interest car financing often takes some of skill of comparison shopping; you have to get quotes from various lenders in order to determine which one will charge you the smallest percentage on your loan. Any effort that you put into getting a great deal on your car loan can literally pay off in the form of substantial savings. Of course, there is much more to getting a great total purchase price on your next car than asking a few lenders to let you know what they are willing to offer you.

Be Sure to Take a Close Look at the Terms

You may want to avoid taking at face value any interest rate quoted for car financing; loan contracts are often filled with fine print. Taking a hard look at the terms before borrowing from any auto lender can help you have an accurate impression of what to expect should you accept the offer presented – and it will provide you with the insight required to perform an intelligent rate comparison. Check if there are any fees or conditions associated with your acceptance of the loan, and be sure to understand the timeframe of interest accrual; such details can have a significant impact on the overall cost of financing – due diligence is necessary for uncovering which quote actually is the one featuring the lowest interest.

Choose a Dealer Who Will Make the Effort to Get You the Best Rates

Your dealership of choice should regard quality of customer service a top priority; this is especially important when seeking low rates on car loans, as auto sales professionals who focus on the needs of those they serve are highly motivated to help buyers find the kind of deal being sought. The right dealer can do much to help ensure you get the smallest rate of financing made available to you.

Bad Credit Won’t Ruin Your Dreams of Car Ownership

Having bad credit can easily make you feel like you cannot get ahead in life. It seems like almost every big purchase you would like to make is determined by your credit score, and that your options are extremely limited. When you are looking to buy a car, but worry about your credit, do not give up home. There are several options available in regards to getting bad credit car financing. Here are a few details about what to expect when you decide to finance in this way.

The Score

Your credit score plays a role in your financing plan, but it will not always prevent you from being able to take out the loan you need. In fact, dealerships offer customers specific financing plans so that they can purchase a vehicle even if they have a history of poor credit. The interest rates on these loans tend to be a bit higher, but they are still quite manageable. There are also several ways to make sure that the payments you will make do not cripple you along the way.

The Payments

In order for you to see lower payments over the duration of your bad credit car financing, there are several things that you can do. One of the best ways to lower the amount is by putting down a bigger down payment. Many finance experts recommend a down payment of around twenty percent. While this might not always be possible, getting close to that percentage can make a huge difference.

The Plan

Another way to go about the process of financing your used car is by coming up with a solid plan. Look at your income, how much you spend each month on your necessities like rent and food, and see what you logically can afford in payments. This will help you to pick a car within your budget and take out a loan that will not be difficult for you to make regular payments on.

5 Steps for Getting an Auto Loan

If you are like most new or used car buyers, you need to finance some or all of the price of your vehicle. For those with excellent credit, financing options probably seem endless. Fortunately, if you have imperfect on nonexistent credit, bad credit car loans offer a way to secure auto financing. Here are five steps for getting an auto loan.

1 Check Your Credit

Before you begin to shop for a new or used car, you want to understand what your financing options are. The first step in the process is to check your credit score.

2 Choose Your Payment

When you buy your new vehicle, you want to be sure you don’t overextend yourself. As such, make a complete auto budget, including loan payment, gas, parking, insurance, maintenance, and other car-related expenses. If you can pay for each of these expenses and still cover your other monthly bills, you might be confident you can afford the car you want.

3 Seek Pre-Approval

Whether you apply at a bank, credit union, financing company, or dealership, you probably have several financing options for your car. By seeking pre-approval for an auto loan, you will know how much car you can afford.

4 Find the Right Car

Knowing what car is right for you is trickier than it might seem. Think about your lifestyle and driving habits before setting foot on the lot. If you don’t plan to keep your vehicle forever, consider resale value. Finally, plan to look at several vehicles before you settle on the final one.

5 Sign the Paperwork

When you secure an auto loan, you must sign several pieces of paper. Make sure you understand the loan terms and repayment schedule. The best time to negotiate them or ask question is before you sign the paperwork. Whether you have excellent credit or need to apply for bad credit car loans, you will be in a better position if you understand the loan process.

Explore Financing Before You Start Vehicle Shopping

Once you determine which dealership to get your next vehicle at, talk to them about their financing options before you start to browse the vehicles on the lot. This is especially important if you have bad credit because it allows them to look specifically for bad credit car loans that they may offer in house.

Know What You Qualify For

If your credit is not great, the dealership financing options could be more limited compared to a shopper with an excellent score. When you talk to the finance department first, they can run your information and crunch the numbers. This gives you a better look at the total loan amount you may be able to get. Once you know this, you can stick to looking at vehicles at this price or lower on the lot.

Clean Up Your Credit or Get a Cosigner

If your credit situation means that your financing options are a bit dim, you will know in advance if you should work on your credit before buying. It also lets you know if a cosigner could help you to get better terms and a larger loan amount.

Speed Up the Process

When you pick out a vehicle first, if you do not qualify for a loan large enough to cover it, you have to go back to square one. However, when you get your financing options first, you can work within the financing parameters that you qualify for, eliminating the possibility of not qualifying for the vehicle that you choose. So, you simply pick out one that works, finish the paperwork and drive off the lot.

When you get the financial stuff out of the way first, it makes shopping for a vehicle a bit less stressful. You will know what you are working with and if there are any limitations with factors, such as the loan size, as you are exploring the available vehicles.

The Importance of Patience when Looking to Purchase a Used Car

If you’re on the lookout for a used car, you probably know about all the things you’ll need to think about in order to make your purchase worthwhile. While buying a car can definitely be an emotional experience, it’s certainly not a situation where your emotions need to rule the day. Keeping a level head and staying patient are very important things when you purchase a new car, as they can be the difference between finding a car that you kind of like and finding one that you absolutely love. It can also play a major role in the reliability of the car that you find. Researching your options before you head to shop can help you in this regard. Here are some of the reasons research is important when you’re in the market to buy a used car.

When you’re looking for a used car, you’ll want to make sure that the one you choose will last you. Whether you know a lot about cars or not, anyone can do basic online research to read about different models of cars. Reading about the overall reliability of a car will help you avoid buying one that won’t last very long. In today’s day and age, with the internet being more prevalent than it’s ever been, and growing by the minute in the amount of information you’re able to consume in a short amount of time, there’s no excuse for not doing your homework on your options for different car models.

You’ll also want to look into your options for dealers in your area that sell used cars. It’s a good idea to go to as many dealers as possible so you can test drive different models, as well as get information that may help you gain some leverage in the eventual negotiations.

Financing is an important step in the purchase of a used car, and we can help you with that. Visit us to find out what we can do for you today.

Forget About Your Bad Credit and Apply for That Car Loan

In this line of work, I often see people talk themselves out of owning a car even before they set foot on the lot of our dealership. They look at their poor credit score and automatically discount their ability to qualify for financing, and thus a car. Bad credit car loans are not a thing of myth and whimsy, they exist, and our lending specialists are experts in the subject. Fear not for bad credit be damned, there is always a way to cleverly finance your next vehicle and get you driving as soon as tomorrow.

One method the lenders at our dealership have mentioned as a good way gain approval for a car loan is to have a cosigner sing off on the loan. A cosigner is someone with good credit that can put their name on a loan in addition to the primary borrower. If the primary borrower has poor credit the addition of a cosigner can often negate this in the eyes of the lender, and a loan that would otherwise be denied can be approved. The cosigner will also be liable to pay for the loan, and in the even of default, their credit will be subject to lowering because of their involvement in the loan.

Utilize the above method to put aside worries about financing when shopping for a new car at our dealership. Rest easy as our staff guides you through the lot and numerous cars we have to offer. It really gets our motor running when we can help a fellow Canadian into a vehicle that truly makes them happy.

Getting a loan us is a breeze, and with the addition of a cosigner, anyone can be approved and drive away that day in a wonderful vehicle from our vast selection. Bad credit car loans or good credit car loans, it doesn’t matter. All that matters are the happiness and satisfaction of our customers.

Four Compelling Reasons to Buy Used Cars From Dealerships

There are a lot of things that might make people worry about purchasing cars from an individual they don’t know. You don’t really know how the vehicle has been treated by that previous owner. You can’t be completely confident that the car will continue to run after you’ve handed your money over. You also have no guarantee that the vehicle hasn’t been doctored in some way to make it appear like it’s in great shape when it’s really a lemon camouflaged to look like a peach. You really face quite a few risks when you purchase used cars from private individuals. This isn’t the only reason to come into our dealership when you want to buy a previously owned automobile, though.

One of the biggest benefits to buying used cars through dealerships is the resulting access to knowledgeable professionals who can provide repairs and maintenance for the vehicle, long after the transaction has been completed. If you aren’t handy with the mechanical aspects of automobiles, then you will need to have a reliable shop. You can rest assured that this technical knowledge will be put to good use even before you make a purchase. Dealerships have technicians employed to inspect vehicles, identify problem areas, and resolve those issues before the cars are put up for sale.

Another great reason to buy through a trustworthy dealership is the potential for some significant time savings. Who really has time to go through the newspaper (or multiple papers) reading through all of the listings offering vehicles for sale. Once you’ve narrowed down the choices, the hard work has just begun. You’ll have to phone or visit each of those sellers, test drive the vehicle, and go through negotiations just hoping that you’ve made a good decision. How much simpler is it to browse through a large selection of quality used vehicles at one location? If financing is offered onsite, then you’ll be in and out after a few hours rather than several days.

Onsite financing is the third wonderful advantage to working with a dealership. In some cases, there will be professionals available who can help buyers with bad credit or no credit. This is a great boon to many individuals who don’t have enough cash on hand to buy a vehicle outright. As many borrowers have suffered financially in recent years, those professionals who specialize in bad credit loans will be especially welcome.

Finally, dealers have a vested interest in making sure that customers are satisfied at the end of the transaction. When private individuals sell used cars, they may never have to see the buyer again. When a dealership makes a sale, their reputation is at stake. If they want to continue doing business in the community, then they need to be sure that their services are professional, reliable, and respectable.

Get A Car Loan, Usually The Same Day!

Many people think that getting a car loan is a long and complicated process, and with some lenders, this can be the case. However, finding car financing and getting approved quickly isn’t impossible. Following the guidelines below will help you find favorable financing and get behind the wheel of your new car in hardly any time.

First, be willing to shop around. Different lenders tend to move at different paces. At a financial institution, you will have to fill out plenty of forms, and typically at least a few days for approval. At a dealership, you can often get a financing package laid out on the spot, get approved on a shorter timescale, and drive away in your new car much sooner.

Next, do your best to come to the table fully prepared, or you’ll be wasting your own time as well as that of the dealer. You’ll need to bring proof of employment and your current income, as well as documentation such as identification. You also need to have worked out a budget beforehand so that you know what kind of monthly payments and what kind of total amount you can afford. Being prepared with this information will make it much easier for you to work out an appropriate arrangement with the right lender.

Finally, if you can, you should find out what your credit score is beforehand so that you’ll have some idea of what kind of interest rate you deserve. It’s important to look around for a good rate, but if you’ve had problems with debt or other liabilities, you don’t want to waste too long looking for a deal that you might not find.

With these simple steps in mind, you should be able to expedite your car financing. Although getting auto financing quickly is a great goal, you should always remember that buying a new car is a big commitment, so you shouldn’t rush into anything that you aren’t sure about.

3 Ways Dealers Help You Find the Perfect Used Car

Despite popular beliefs, seeking the assistance of a dealer while searching through the multitude of available used cars is a smart move which any budget-conscious buyer should consider when in the market for a ride of any shape, size or brand. There are many ways in which using our dealership for assistance throughout the shopping process makes the whole experience simpler and much less stressful, but the top three include:

We Offer a Larger Selection

Whereas you may have to drive hours to view a single car when shopping among private sellers, our large selection of vehicles gives the ability to view many new cars at once, increasing your chances of finding the perfect used car quickly. This saves you time, money, and plenty of energy with which to enjoy your newly-purchased ride after the decision has been made.

We Offer Financing Options

In most cases, even used cars have financing options available for buyers of all backgrounds. This means that you won’t be restricted to one or two cars on the lot that fit within your immediate budget. Together, you and our expert staff members can work out a payment plan for practically any of our used vehicles, expanding your opportunities and helping to ensure you find the right car for your needs.

We Offer Quality

Aside from offering an excellent quantity of vehicles, we always ensure that our used cars present quality under the hood as well. Before selling cars to customers, we inspect the vehicle and make repairs as necessary to ensure you’re getting what you pay for: a reliable ride that’ll get you from one place to another without a hassle. When you find the right car, you’ll never have to worry about it being a lemon.

These are just some of the ways in which we can help you find your perfect used car and get you on the road again in no time. Check with us to learn more about your options.