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 ‘Car Loans’ Category
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…)
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…)
New Car Loans For Bad Credit
Wednesday, September 29th, 2010Many people with bad credit – that is, a Beacon score below 620 – feel they can only qualify for an older used car at a Canadian buy here pay here car lot. In many cases, this is absolutely not true. (more…)
No Money Down Bad Credit Car Loan
Tuesday, September 28th, 2010Although it’s not as easy to get no money down bad credit car loans as it was before the current recession, they are still available. (more…)
Car Loans with Bad Credit in Ontario
Wednesday, September 1st, 2010If you are looking for car loans with bad credit in Ontario, chances are good you have faced many of the same issues that nearly two thirds of all Canadian consumers are currently experiencing that leave you with less than perfect credit.
Will My Credit Keep Me From Buying A Car
Monday, August 23rd, 2010A good credit score is an advantage when applying for car credit. Your credit score tells lenders your risk level. Credit bureaus use your credit history report that shows if any late payments, repossessions, non payments, or any bankruptcies filed. The risk the lender would be taking by approving car credit to you is then determined.
