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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Posts Tagged ‘auto loan’
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…)
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.
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…)
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…)
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.
Are Guaranteed Auto Loans For Real
Tuesday, August 17th, 2010How many times have you seen advertisements with these slogans – Guaranteed Auto Loan – Car Loans with Instant Credit Approval – Guaranteed Credit Approval – Bad Credit, No Credit, No Problem? You’ve probably seen these kinds of advertisements hundreds and maybe even thousands of times, whether it’s on the internet, in the classified sections of newspapers or even on billboards posted along the road.
