Most Canadian lending institutions have very strict policies regarding who the type of vehicle needed for a bad credit used car loan. For example, many lenders have requirements as to how old the vehicle can be. New cars are considered to be current and one year old untitled vehicles. Used cars, although a much broader category, are generally limited by mileage or age, with some lenders refusing to extend credit for any vehicle over 8 years old (the cutoff can even be as short as 5 years). (more…)
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Archive for the ‘Auto Loans’ Category
Canadian Car Buying The Final Decision
Monday, November 22nd, 2010There are a number of things that go into making car buying a good experience. The fact that you are about to take the first step in reestablishing your good credit history is important. But once your credit is approved, you’ve picked out a car, and settled on a price, you need to keep paying attention and not get distracted while you sign the purchase contract. (more…)
Candian Credit Scoring and Auto Loans
Friday, November 12th, 2010Most Canadian lending institutions have very strict policies regarding who they will lend to and the type of collateral needed for the loan, especially when it comes to reviewing applications for car loans with bad credit. For example, many lenders have specific requirements concerning how old a vehicle can be. (more…)
The Truth About Canadian Car Dealers
Tuesday, November 2nd, 2010As of this writing there are thousands of web sites whose mission is to give consumers advice about applying for new car financing. Much of the information that appears on their pages is biased toward the attitude that car dealers exist only in order to take advantage of their customers.
Auto Financing Online in Canada
Monday, November 1st, 2010One of the most convenient ways to purchase a new or used car is through auto finance online. But as easy as this is, there are a number of things you should look out for, especially when shopping for used cars. One of the biggest of these is the Carfax auto history report.
Privacy On Canadian Auto Loan Web Sites
Thursday, October 28th, 2010The internet has made car buying and financing much easier. No credit car financing is particularly easy in Canada because you can do everything from research interest rates to filling out an actual auto loan application online. But at the same time, how can you be sure that you and the intended recipient are the only ones who can see this information? How can you tell if your personal information is secure when you fill out an online no credit car financing loan application?
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Auto Dealer Financing in Canada
Wednesday, October 27th, 2010Auto dealer financing can be a smart solution for Canadians with good credit, poor credit, bad credit, or even bankruptcy. Being saddled with a bad credit history may seem like a big handicap when attempting to finance a new or used vehicle, but if you approach the process in the right way, much of the stress involved can be avoided in applying for auto dealer financing. (more…)
Auto Loan Financing in Canada
Wednesday, October 20th, 2010There are literally thousands of web sites that give consumers advice about auto finance. Much of this information is based on the argument that car dealers take advantage of the customer. But while there are still a number of dealerships out there that even we would consider being “bad eggs”, our experience has been that most dealers treat their customers fairly. (more…)
Used Car Financing and Your Budget
Wednesday, October 13th, 2010Knowing that you may soon own the car you want is a wonderful feeling. You’re elated that you are approved for used car financing, but, are you getting the auto loan that is right for you. Have you researched all of your options to ensure you’re paying the lowest interest rate you qualify for? (more…)
Repossesion from a car loan lender
Tuesday, October 5th, 2010A question you might have if you are looking for a car loan is, what happens if my car is about to get repossessed. To answer this, you have to know what a repossession is. (more…)
