What to Know About Buying a Car in Canada

A car is a major purchase. Unless you have thousands of dollars lying around, chances are you’ll need to borrow money. Car loans are a viable option for buying all kinds of vehicles. By understanding different aspects of the car buying process, you can get the right auto for your needs.

Car Loan

A car loan is financing used for purchasing a vehicle. There are many institutions offering this funding option. For example, many auto dealers offer in-house financing for their customers. You can finance up to the maximum cost of the car. Working with dealership, is a convenient way of borrowing funds and buying your dream car all in one place.

Payments

Car loans are generally paid in full within three to six years. You have the option of making bi-weekly or monthly payments. Consider making a substantial down payment. It’s the easiest way of lowering your payouts.

Budget

There are so many automobile brands, makes and models. How do you know what car is best for you? Research costs associated with the vehicle. Consider things such as insurance, fuel consumption, maintenance and parts. You can find this information online.

Test Drive

Test drive the cars that interest you. Compare things such as handling, steering, braking, comfort and smoothness of the ride. Getting behind the wheel helps you make the right choice.

Used Car

There are many advantages to purchasing a pre-owned vehicle. Typically, these autos undergo extensive bumper-to-bumper inspections. In many cases, late model cars are equipped with the latest modern technology and features. It’s a budget-friendly approach to buying a high-quality, reliable vehicle.

Getting around in Canada is a lot easier when you have your own vehicle. The good news is you don’t have to break the bank to do it. With a little upfront leg work, you can obtain a loan and drive off our lot in your dream car.

Bad Credit Car Loans-Back on the Road Again

Get back on the road again with bad credit car loans and a new or used vehicle. We understand unforeseen things happen in life that can muddy up your credit, and we are here to give you a second chance with a car and a loan. Having your car repossessed is a traumatic event, and it can cause people to delay buying a new car. The aftermath of repossession may leave a person feeling helpless, and he or she might even pass up employment opportunities because there is no car to drive to work.

We want you to buy our cars and we have confidence that you will rebuild your life and credit. That is why we consult with you not only about what kind of vehicle you are looking for, but what kind of financing best suits your lifestyle and needs. We aren’t out to charge high interest rates, but want you to afford our cars so you can come back to us again for maintenance or additional cars in the future. Our experts can give you a reasonable rate of interest and low monthly payments so you can have peace of mind.

A car is a necessity and can increase your earning power by enabling you to take jobs with decent pay but far locations. With a car and financing, you will be able to seize these opportunities and improve your financial picture. We will help you select the right car for your and also the best loans. We are a one-stop shop when it comes to selecting a car and financing it. There is no need to look for bad credit car loans at a bank or other agency and then select a car, but you can do everything in one convenient location. Speak to our experts about a new or used car and the best financing for you.

Why You Might Need a Bad Credit Car Loan

In most places, you need a car in order to get to and from work, see to your various responsibilities and maintain an acceptable social life. However, having bad credit can prevent you from getting behind the wheel of any car, whether used or new. Thankfully, you have the option of using bad credit car loans when buying your next vehicle. There are several reasons why you might want to seek out this type of financial support in order to buy your car, including:

New Credit

The most common reason why drivers use bad credit car loans to make their purchase is that they have relatively new credit. Young adults who are looking forward to buying their first new car and becoming independent will likely not be able to meet the stringent requirements of the typical car loan. If this is your issue, it may be a good idea to rely on loans designed for bad or low credit until you can build your numbers over time.

Low Credit

In the modern economy, keeping your credit pristine isn’t always an option, a fact which thousands of individuals looking for cars have become familiar with in recent years. Getting your credit back up to an acceptable level after a slip can be difficult, and it takes a great deal of time. In the meantime, you can’t deal with being unable to attend work or school, and that’s why you may want to rely on loans designed for individuals with poor credit until better loans come within reach of your credit score.

There are several other reasons why you might want or need to use bad credit car loans for your next used or new car purchase, but these are by far the most common issues which those who choose this route face. If you’ve been dealing with either one of these problem, it may be time to seek out some advice regarding our next car purchase. Please take a minute and fill out our secure online credit application and one of our loan experts will contact you promptly with loan options.

Understand Your Credit Score to Start Reestablishing Your Credit – and Buy a Car!

Did you know that buying a car with a loan is one of the best ways to reestablish your credit after you have a bankruptcy? Chances are good that, if you are like many people, you have been concerned about how a bankruptcy will impact your overall credit score. It is important to be aware that a bankruptcy will negatively impact your credit score, but if you have understand what exactly goes into your credit score, then you have a better chance of improving it.

Here are some of the factors that comprise your credit score that you should be aware of as you begin to think about buying that car with a loan:

New Credit

New credit takes up about ten percent of your overall credit score. This means that for every new credit line you have, your credit score will be impacted. Credit lines include credit cards and loans, in most cases. If you have a credit line that you are paying off on time, then you will be proving to future lenders that you are financially responsible. Therefore, it’s okay to have a credit line, as long as you are paying it off.

Amounts Owed

The amount of money that you owe will impact your credit by about thirty percent. The amount owed includes all of your credit card debt as well as other outstanding debts, such as your car loan. The amount you owe will be factored into your income when it comes time for a lender to assess your overall credit risk. Owing money is okay. However, if you are asking for a loan that would require you to owe more money than you make, then you’ll need to reassess your options, in most cases.

Types of Credit Used

We always encourage our customers to only use credit when they need it. Buying a car is certainly a need. However, having a huge amount of credit card debt may indicate that you are spending money on things you might not actually need. The type of credit you owe accounts for about ten percent of your overall credit score.

Contact us today for more information about how your credit score impacts your car loan – and how a car loan can actually help to improve your credit!

Why Getting a Bad Credit Car Loan Today 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.

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 in 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.

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.

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.

Purchasing Your First Car Using Bad Credit Car Loans

If it is your first time purchasing a car, you may feel a mixture of emotions, such as excitement and nervousness. You may feel excited about finally getting something of your own instead of relying on other people to drive you to different places, but nervous because you might not know how you will afford to get a vehicle of your own. Bad credit car loans make it easier for just about anyone to get a vehicle if and when they need one. We can help you complete the application for a car loan with us.

Applying and Making Important Decisions

The first step to the buying process involves completing the application for one of these loans. There are many details you may need to provide about yourself before you are approved for a specific amount of money. If you do get approved, we can tell you how much is available for you to spend and guide you in the right direction of the various vehicles that are available within that specific price range. We have quite the selection available. When it comes down to the one that you choose to get, it is mainly a matter of preference.

Ride Away in Style and Stress-Free

Even though your credit is not great, you may still be able to get a great car that looks stunning both inside and out. The option of using a loan to pay for the car means you can easily ride away in style without the stress of spending all your money at once. After getting the loan and selecting the right vehicle, you can agree to make payments of a certain amount for several months until the total cost of the car is officially paid off. It is a stress-free process that allows you to get a car without a struggle.

If you are shopping for your very first vehicle, take a look at the options we have. Not only do we have an amazing selection of vehicles, but we also offer loans for those with bad credit.