The Right Financing For You

The right auto loan can help you own the car of your dreams, or obtain the vehicle that you need on a short timeframe. Unfortunately, the wrong auto loan can quickly turn into an expensive burden. Here are a few commonly made mistakes to watch out for when you are looking at your auto financing options.

First, it’s important to come up with a budget well before you set foot near a dealership. It’s easy to forget about other financial obligations or convince yourself that you will be able to handle a high monthly payment when you are looking at a car that is perfect, if a little pricey. Having a concrete number in hand is a good way to stay grounded and avoid buyer’s remorse.

You should also be very careful about the repayment terms that you commit to. General wisdom holds that it’s best to pay a higher monthly over a shorter term so that you pay less interest in the long run. However, this can be a burden in the case of unexpected expenses or life changes. If you’re expecting some instability over the next few years or if you don’t have a financial cushion, you should stick to a more conservative monthly payment, and pay extra whenever you are able to.

One final thing to check is whether there is a penalty for paying off your loan early. A few lenders will do this to recoup the profit made on interest that they would otherwise lose. If this is the case, then a long-term, low monthly payment loan will not make as much sense financially if you are probably capable of paying off the loan more quickly.

Basically, you always need to read the fine print when you are considering auto financing. Many people are reluctant to ask questions and sound uninformed, but it’s only fair that you have a clear understanding of what you are signing up for. Avoiding these common mistakes will help you save money as well as months or even years of stress.

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.

Is Car Financing Right for You?

Our customers have several options when looking for a used vehicle. For those who are unable to pay the full cost upfront, financing or leasing are two of the most popular ways to take home the car they’re looking for today. While leasing is an excellent choice for many, car financing is a surefire way to secure affordable monthly payments while ensuring that the vehicle is yours to keep at the end of its term.

Our dealership prides itself on having some of the best financing options in the industry. We also understand that the prospect of purchasing a vehicle can be intimidating for many. So it’s very important for us to make sure that our customers are completely comfortable before signing on the dotted line. As such, you can count on our team of trained car sales professionals to help you explore all the options when it comes to securing the financing that’s right for you.

Once you’ve selected a vehicle and sat down with one of us, we’ll immediately begin guiding you through the financing terms and options at your disposal. For customers who are concerned about monthly payments, we’ll be happy to explore flexible terms to help them pinpoint a monthly payment that will fit within their budget. We also have several down payment options for those who may not have a considerable amount of money to invest upfront.

We know your time is valuable, and many of our customers can count on quick credit approvals upon submitting an application for financing. We’ll also help you set up a payment schedule so that your payments become due on a date that works best for you. At the end of the day, nothing would make us happier than to help you find the best car and financing terms in the industry.

Choosing to finance a used car is a decision that should not be taken lightly, and it is our privilege to help and guide you through the decision-making process. Contact or visit us today to find out if car financing is right for you!

Finding Value When Buying a Used Car

There are plenty of resources at your disposal that can help you figure out the value of the car you are purchasing. Used Cars come in just about every make, model, condition and price range you can imagine. So, obviously, you’ll want to know your budgetary limit before you can truly begin researching which car is right for you. Then it’s up to you to figure out they type of car you want. Once you have a good idea of what it is you will be looking to buy, you can begin your search. Buying a used car is all about finding value in a vehicle that you can get at a discounted price because of its previous ownership. Value lies in not only the vehicle’s price, but also in how long it will last moving forward.

Figuring Out What Your Vehicle is Worth

Taking into account mileage, the shape the body is in, service history, and much more, you can get a good idea of what a specific vehicle is worth. There are resources online that allow you enter in the details of any vehicle in order to give you an idea of its value. Used Cars have a number of factors that impact value, making it all the more important for you to get the best vehicle for your money. You want something that will not only last, but that also won’t break the bank, and a simple online search for the baseline value of your vehicle of interest will go a long way toward you making the right decision.

You Know What You Want More Than Anyone Else

At the end of the day, you are buying a vehicle for yourself. You know what you want, and you know what you are willing to spend. Everything ultimately boils down to you, so all the research done depends on what you are willing to do. As is the case with anything else, you get what you put in, so make sure you find the value needed to get a good return on your investment

The Effects of Your Credit Score on a Car Loan

One of the reasons why people have to get bad credit car loans is because they have a bad credit score. ”Credit score” can be used to talk about a few different scores kept in your credit file, but the one that is most important when it comes to lenders is your FICO score. Knowing and understanding this score will help you when it comes to getting a car loan.

Credit scores range from 300-850. They are calculated using a complex system and are based on your credit history. Anything good in your history raises the score, while anything bad lowers it. Good things include paying on time and making good use of your available credit. Bad things include missed payments, going over your credit limits and accounts in collections.

When it comes to auto loans, a FICO score of 540 or less will usually put you out of the running for a traditional loan. You’re only option will be bad credit car loans. This is just a general rule of thumb. Some lenders have a higher minimum. However, it’s pretty standard that interest rates will be higher as the credit score gets lower.

Having a low score also means higher monthly payments and shorter loan times. Lenders charge more for a bad credit loan because the risk is higher. If you have a low score, it means you haven’t made payments on time or met your financial obligations like you should have. This tells the lender that you’ll likely default on this loan, too, so they do everything they can to minimize their risk, such as charging higher interest and having you pay off the loan more quickly.

Understanding the impact of your score before you get a car loan will help you to know what to expect. It’ll give you insight into how much negotiation room you have and let you know what type of loan you’ll likely qualify for.

Buying Back Good Credit With a Used Car Loan

Financing a quality used car through a reputable used car dealer can be a great way to improve a lagging credit score. A low credit score can sometimes make it seem difficult to purchase a vehicle, but there are options, no matter how low a credit score has fallen.

Credit scores fall due to many reasons. The best way to raise a falling score is with good positive payment reporting on a credit account. It can be very difficult to get that credit account with a low score. There are very few credit products available to those with low credit scores. Most banks will require a security for loans to anyone below a certain credit threshold. In most cases, these secured loans will not positively affect a person’s credit score, no matter how diligently payments are made.

One solution is with a quality used vehicle. Used car dealerships often have relationships with many lenders and can easily handle both the purchase and the financing of your vehicle in house. Often they work with lenders who specifically assist those with low credit scores in purchasing a vehicle.

These types of car loans may require minimum down payments or cost a little more over the life of the loan, but they have two major benefits for the lower credit consumer.

Firstly, a low credit car loan through a lender that a car dealer has a good relationship with may allow an individual to purchase much need transportation which would otherwise be unavailable to them.

Secondly, and more importantly, even though these loans may cost a little more over time, these lenders work with credit reporting agencies, reporting on-time payments and helping raise a credit score over the course of the loan.

With on-time payments, the slightly higher fees associated with a low credit score loan through a quality used car dealer allow a consumer, essentially, to “buy back” a good credit score.

What Kind of Cars Can You Get with Bad Credit Auto Loans?

Most people can relate to seeing a beautiful car for sale, looking at the price, then walking away in resignation at never being able to afford it. Not every single car in existence needs to be beyond your personal budget. In fact, car loans exist to help you afford the vehicles that you feel like might be out of your reach. As long as you can comfortably make the loan payments, there are a lot of options available to you, even if you have bad credit. What kinds of cars can you get with bad credit auto loans? It’s possible that you will be limited to used cars, but this alone provides so many possibilities.

Used cars have come a long way in the past decade or so. There are a lot of features that are available in used cars these days that people might have only dreamed about having in the past, such as GPS and rear cameras. When you purchase a pre-owned vehicle, you might be able to get your hands on great car options that would otherwise be financially out of the question.

Since a used car is simply defined as one that has been owned before, you can actually find cars that are relatively new. Of course, newer used cars are still going to be more expensive, but you may still be able to afford one with the right loan at the right interest rate. Pretty much any vehicle may be available to you so long as it is used and falls within a certain price range. That can be the nice thing about qualifying for a loan—it gives you a sort of budget.

If all you qualify for are bad credit auto loans, your auto options might not be quite as limited as you think. You might need to browse through the used cars at the dealership, but that still leaves all kinds of vehicles for you to consider. Keep in mind the amount of your loan to help you locate the used cars that are truly within your budget. It could surprise you what you are able to drive away with at the end of the day.

How to Avoid Bad Bad Credit Car Loans

Bad credit car loans are great for individuals with bad or no credit, but unfortunately, there are dealerships out there that take advantage of individuals who are desperate for financing, and they dole out loans that are unreasonable and downright unaffordable. If you have bad credit but need a new car, there are a few things you can do to avoid those bad bad credit car loans. They are as follows:

Know Your Credit Score

Don’t just assume that you have bad credit, as credit is always changing, and even a month of timely payments can bring your credit score from bad to fair. If it’s been a while since you’ve checked your credit score, check it right before heading to the dealership. When it comes to car shopping, knowledge is power, and by knowing your current credit rating, you can avoid being scammed into signing on for a loan with high interest rates and impossible terms.

Avoid Loans With Long Terms

Though lower monthly payments may sound ideal, they usually come with longer terms of up to six or seven years, which means more interest. By the time you’ve paid off your loan, you may end up paying more in interest than what the car is actually worth. You can avoid this by sticking with a loan term between three to five years.

Shop Around

Don’t sign on for the first loan that you’re offered. Shop around to see what types of terms and rates you can reasonably expect, and then use a lower rate as a bargaining chip for the car that you really want. By understanding what’s available to you, you can save thousands in interest and other fees.

If you have bad credit, it can be easy to fall for a bad bad credit car loan. To avoid doing so, know your credit score before you head to the dealership, avoid dealerships that promise long terms and low monthly payments and shop around.

Providing Car Loans No Matter Your Credit

Are you looking for a used car? If you are, make sure you choose the right dealer because that simple decision will dictate the whole purchase. The dealership you decide to buy from should stock the highest quality cars, provide excellent financing, and offering service is a must as well. Our dealership can meet all of these expectations and more, so come in today to drive off in your new dream car.

Providing financing for any auto purchase is perhaps the most beneficial service a dealership can offer. It is just easier and more straightforward to receive credit through the dealer, rather than the bank. We specialize in bad credit car loans. Never let your credit score control your purchases. Even if you have been denied in the past, cars have lighter criteria when it comes to credit, so your score might actually be considered quite good. However, even customers with bad credit can get an incredible deal. Our team will work with you to meet your payment needs. We will create a payment plan that fits within your budget.

In addition to financing your car, you can be sure to find the exact vehicle you are looking for on our lot. We have a large selection and all our cars are of high quality. After all, there is no point in settling for a car you do not want. Come and browse our range of makes and models. Soon you will be cruising in your dream car.

Of course, it is important for a dealer to offer service as well. We would be glad to provide maintenance and repairs on your new car once you have driven it for a while. It is all part of our dealer’s way of serving you.

If you are considering buying a used car, come in and see us today, and you could be driving away in no time at all. We are sure that you will be impressed with our service.

Make Auto Loans Work for You

Without a functioning vehicle, some may find it impossible to perform daily tasks, such as commuting to work, shopping, or carting kids to and from school. Auto loans are an integral part of the buying process, and we are willing to work with you to negotiate a price that everyone can live with.

Things like budget, financial history, and credit score can all have an effect on the terms of a loan. Here are a few things to remember when negotiating a car loan. By keeping these tips in mind, you can rest assured you will procure a loan that’s just right for you.

Be Aware of Your Credit History

Before visiting one of our top-notch sales staff, be sure you are fully aware of your credit history. Your credit score is a huge factor in what type of interest rate you’ll ultimately end up with. There are numerous websites which offer free credit checks online, and for a small fee you can get a more comprehensive report. This will give you an indication of what type of loan you’ll be eligible for.

Arrange Financing Through the Dealership

Our dealership offers a number of financing options for many types of customers. Depending on your credit history, a low interest loan may be a distinct possibility. Our experienced salespeople will work closely with you to determine a loan that will work with your individual financial outlook.

Consider Putting More Money Down

A larger down payment can be extremely beneficial to procuring a reasonable loan. With more money down, the length of a loan may become shorter, and interest rates with be far easier to deal with. This is especially true for customers with faulty credit histories. A larger down payment can help lessen the financial burden associated with car loans.

No matter the financial situation, we can help you to determine the best possible outcome. With some assistance, you are sure to find the vehicle of your dreams at a price you can afford.