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Posts Tagged ‘bad credit car loan story’

Candian Credit Scoring and Auto Loans

Friday, November 12th, 2010

Most 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…)

Helping Mom Get an Auto Loan

Saturday, August 7th, 2010

Can you remember the last time your parents asked you for help?  We grow up our whole lives depending on our parents to help us with all of our problems.  Once we are old enough to help them, the situation rarely presents itself.  I finally had the chance to help my Mom a few weeks ago when she had mentioned to me that she was having trouble finding a dealership to finance her for a vehicle. (more…)

You Can Get an Auto Loan if You Have Bad Credit

Saturday, July 24th, 2010

I recently found out that my credit rating was much lower than I thought.  It has been a few years since I purchased my home and I have had the same vehicle for 5 years, so I haven’t checked my credit in quite some time.  Last night on the way home from work I got in an accident.  Luckily I was OK, but my car didn’t make it.  (more…)

Buying a New Car with Bad Credit

Saturday, July 3rd, 2010

I don’t know about you, but I get so excited when it is time to purchase or lease a new car.  The best part of the whole process is searching online and picking the vehicles you are interested in the most. 
I started this process recently.  I got really excited to buy a new car and I thought I had found the vehicle that was perfect for me.  In the past, I would choose a car and then shop around at different dealerships to see where I could get the best deal.  I thought shopping around was my least favourite part of the process.  I was wrong! (more…)

Bad credit doesn’t have to hold you back from getting a vehicle

Saturday, June 19th, 2010

If the last couple of years have been financially challenging for you and your credit has suffered, you are not alone.  A few years back I was financially comfortable and was paying all of my bills on time.  Things are so much easier when your credit is in order.  Once the economy started to take a turn for the worse, my credit score soon followed.  It seems when things get bad, they usually get worse.  On my way to work my car decided this was its last commute.  I found myself on the side of the road worrying about how I was going to get a new car when my credit score was so low.
The next morning I was venting to a co-worker and they told me to go online and search for bad credit auto loans.  I decided to give it a try on my lunch break.  I started doing my research and soon realized that it may not be as hard to get financed for a vehicle as I though it would be.  There are sites that are made specifically for people with credit issues and their goal is to place you with a dealer that is specialized in helping people with bad credit get financed.  Once you apply online, you are contacted by a dealer in your area within a day’s time.  I was contacted within the hour.  (more…)

How Canadian Car Loans Really Work

Thursday, May 20th, 2010

When it comes to getting auto financing in Canada with bad credit, most car dealers and lenders have a score card that they use to rate your creditworthiness and risk. One of the measurements used is sometimes called a credit score or Beacon score, however, this is not the only tool these lenders use.
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Taking the Headache out of getting Auto Financing in Toronto

Friday, May 14th, 2010

We all dread that time when we finally realize our car is dying on us. We start to ask ourselves, is my credit good enough? What kind of car do I want? Even more important, what kind of car will I qualify for? Is there a dealer in Toronto that can help me get a loan for my dream car? No matter who you are, buying a car can be a chore. (more…)

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