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 ‘Car Loans’
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.
Canadian Vehicle Financing
Monday, October 18th, 2010To purchase a vehicle, unless you’re a cash buyer, means you need some sort of vehicle financing. There really isn’t an industry set of rules. Therefore, it’s important that you research all of your financing choices. Vehicle financing is simply the terms you agree with to repay the money you borrow. If you research your options and finance your vehicle under the best terms available, you are going to spend less money to own your vehicle. (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…)
Helping Mom Get an Auto Loan
Saturday, August 7th, 2010Can 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…)
No Credit Car Loans for Canadians
Monday, July 26th, 2010There are many Canadian car dealers that will sell you a car if you have no credit history. But in case you were wondering, there is a downside to the kind of arrangement that is usually called No Credit Car Loans.
Vancouver Cars For Sale
Wednesday, June 30th, 2010There are tools that allow used car buyers to ensure that they’re paying a fair market value for a specific used vehicle. There are guide books, such as the Canadian Black Book, that can be checked before any agreement is made with a Vancouver car dealer. You don’t want to spend more money than you should on a vehicle that may cause problems in the future and a burden.
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