Most banks, credit unions and even automobile retailers offer auto loan financing. What interest rates they offer is another story. Depending on the lender your auto loan rate can be very different. The lowest interest rates are usually offered to consumers with a high beacon score. However, if your beacon score is somewhat tainted you are not automatically ineligible for automobile financing.
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Archive for June, 2010
Auto Loan Financing Rates
Tuesday, June 15th, 2010Used car research the easy way
Monday, June 14th, 2010Doing the proper used car research could prove to be your best financial investment. Researching for a used car is no different than if you were researching to buy a new car. The basics: shop around, do test drives, ask questions, and research the vehicle online. Used car research is a time consuming venture, but time well spent. (more…)
Getting a bad credit auto loan is easier than you think!
Saturday, June 12th, 2010Buying a car with cash is unheard of these days. When buying a car in Canada, you will either get financed for a vehicle or lease the vehicle. If you have bad credit, this task can be intimidating. It really doesn’t have to be.
In the past, you would find the vehicle you could afford and then shop around at different banks to get financed for that vehicle. When you have bad credit, finding a bank to finance you can take longer than any of us have time for with our busy schedules. (more…)
The History of Bad Credit Auto Loans
Friday, June 11th, 2010 The upside to sub prime auto loan lenders was the fact that most of them reported to the credit bureaus, enabling customers to reestablish their automotive credit. For many bad credit auto loan customers, it meant a step towards being able to once again deal with a prime lender. The downside, and there is one, is that the interest rates charged by these sub prime lenders can range from a few percentage points above a “standard” loan, all the way up to the mid to upper 20% range.
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What you need for a bad credit auto loan
Thursday, June 10th, 2010Keep in mind when applying for a bad credit auto loan that there are many processes and options involved, especially when you have a bad credit record. Most Canadian car dealers start their business with the intention of making profits and not losses. Although most auto loan lenders love to sell cars on credit to people who fit all their requirements, there are local Canadian auto dealers who will sell you a car of your choice, even if you need to buy a car with bad credit.
Also keep in mind, no matter how high or low your credit score is, you can get a auto loan. All you need to do is to meet a few basic requirements. When applying for a bad credit auto loan, auto loan lenders don’t only require that you have a gross monthly income of $1500, they look out for other factors like; employment history, your current housing situation, total debt and more. Many companies go to the extent of asking you for your current pay slip to be sure their sources, or what you say is true.
All this is done so that bad credit auto dealers are sure that you can afford to pay them the monthly payments. A bad credit auto loan is not bad if you make sure you research and make sure you meet all the basic requirements before you make your move.
Canada Auto Loan Used Car Values
Sunday, June 6th, 2010If you’re reading this article, then there’s a good chance you’re in the market for an automobile. You also may be looking for ways to get the most “bang” for your Loonies. One way to save money is to consider buying a pre-owned vehicle instead of a new car. When purchasing a used car from a dealer, it is important that you know as much as possible about its auto loan value in order to avoid serious problems with the car once you’ve driven it off the lot. (more…)
Auto Bad Credit Loan in Kitchener, Ontario
Saturday, June 5th, 2010Even if you have good credit, the adventure of shopping for a new car can be an intimidating one. But if you have a limited of poor credit history and have to get an auto loan to purchased a car, the experience can be frustrating and embarrassing as well. But despite what you may have heard or experienced, it doesn’t have to be that way.
Canadian Auto Loan Terms
Thursday, June 3rd, 2010If the world of new and used vehicle sales there are many different financing terms used. Here are some of the more common terms along with their meaning to help you understand exactly what the dealer is referring to when these terms are used. (more…)
Sub Prime Auto Loans
Wednesday, June 2nd, 2010Sub prime car loans for people with a poor credit in Canada couldn’t come at a better time. A subprime auto loan from our dealer network ensures that you get financing to help you purchase a vehicle. Having a car is a convenience that makes every day life easier. (more…)
