Even With Slow Credit, You Can Qualify for a Car Loan

Shopping for a car should be fun and exciting. If you have credit issues, you may be dreading the experience. We want to help you get a car loan so you can have reliable transportation. Our dealership specializes in assisting consumers with credit problems. Slow credit car loans are available, but you will need to be prepared before you come in.

We believe everyone needs a chance to fix their credit. Often, the financing options for people with slow credit involve having the payments automatically taken out of the account before the actual deadline. With steady income and a bank account, you may qualify for more car than you thought possible.

Taking the time to look at your credit and fix the errors before you apply for financing is a good idea. If you are not under a time crunch to purchase a new vehicle, spend 3-4 months making payments on time to improve your credit. If you can’t wait, work with our dealership to find the right financing.

Before you shop for cars, get pre-approved for the right financing. Then you will know exactly how much you have to spend on your car before you shop. Our professional sales team will help you find the right vehicle to meet your needs and stay within your budget. You can test drive as many different cars or trucks as you choose.

Slow credit car loans that are automatically deducted from your account will improve your score over time. After a year of regular payments, it is possible to get refinanced with lower interest rates or into a better car. Don’t let your poor credit keep you from getting the vehicle you need to get to your job. Let our dealership help you find the financing so you can rebuild your credit.

Bring the fun back into the experience when you are assured you will be able to afford the vehicle you’re test driving. Find the right financing company by going through our dealership. We have many options for slow credit car loans. We want to give you the chance to fix your credit and drive the car you want.

Buying a Used Vehicle with Poor Credit: The Basics

There are many reasons why you might find yourself dealing with a poor credit rating. Illness, the loss of a job or other unexpected events may cause a serious drop in your credit score, which can make it difficult to get financing for a used car. However, there are ways you can secure bad credit car loans, and we’d like to give you a few tips for getting started and what to expect.

Understanding Poor Credit Car Financing

Before you seek out non-traditional car loans due to your poor credit, it’s wise to understand how these loans differ from one you might receive from a bank or large financing company. Bad credit car loans are usually offered by used car dealerships and have a variety of interest rates. These rates might be higher than ones offered to those with better credit, but you can always compare what different dealerships offer you before you decide.

What to Expect at the Dealership

When you visit a dealership that offers bad credit car loans, you can expect loan officers to work closely with you to understand exactly what you can afford. They may pull your credit report, but not all lenders judge your ability to pay simply by that number. If you have steady employment and are working to repair your credit, that may be enough to secure a loan.

Loan Terms

If you have poor credit, you may be offered a long-term loan that can help lower the cost of monthly payments. The length of the loan may vary with dealerships, but some can extend up to five years. If you accept one of these loans, make sure you tell the loan officer exactly what you can afford in terms of payments and whether you will have the option to refinance in the future, if your credit permits.

Having poor credit can make it difficult to secure a used car loan. However, when you understand the basics of bad credit car loans and how they can benefit you, the road to financial growth may be easier to navigate.

Tips to Get a Good Deal Financing a Used Car

Buying used cars is a great way to get a vehicle at a good price. Many people find that they may not have the cash to buy the vehicle outright, which is why financing the deal is a good idea. Dealerships like ours will often work with buyers in order to get the price right, but there are several things consumers can do to make sure the deal works for their budgets.

Before even stepping into a dealership, potential buyers should be familiar with their credit reports. In many cases, there are errors on the report that can hurt someone’s credit score and thus the interest rate on the loan. Consumers should always dispute an error to make sure they are going into a potential loan with the best credit score possible.

It is important to pay attention to the total loan amount rather than just the monthly payment. The monthly payment is easily determined by dividing the total loan amount by the terms of the agreement. Focusing just on the monthly payment could mean getting a bigger loan spread out over a longer period of time.

Having a car as a trade-in or putting money down is another good way to lower the borrowed amount. Many dealers enjoy working with buyers who can offer collateral upfront, which in the end could mean getting a better deal.

Lastly, buyers should always be clear on the fine print. Before agreeing to anything, a consumer should know the loan term, interest rate, monthly payments and down payment. If a lender states that the financing is conditional, it is best to wait to agree on anything until all the details have been finalized.

Consumers who want to get a great car at a good price can easily do so by browsing used cars. They should always have a good idea of their credit scores and how to negotiate a better loan deal by putting down money and focusing on the total loan amount. Taking these steps will help ease the financing process.

Getting Approved With Bad Credit

Many people find themselves in the position of having less-than-stellar credit for a variety of reasons. Often, many of these reasons may have nothing to do with an individual’s ability to regulate their spending, or being foolish or wasteful in racking up unnecessary debt. Unfortunately, the credit bureaus do not differentiate between someone who deliberately pays bills late or defaults on obligations, and someone who is trying very hard to keep above water financially, but who has simply fallen on hard times and is trying to make ends meet. Once your credit history becomes speckled with late payments, bankruptcies, or other negative reporting, it can be very difficult to get things going in the right direction again.

It used to be that only the best of the best credit scores were eligible for vehicle financing, while anyone who fell short of that was forced to rely on public transportation, taxicabs, or the goodwill of family, friends, or coworkers. Not having your own car can be exhausting and can limit your freedom in going anywhere, anytime. Wouldn’t it be nice to go out for a night on the town without constantly checking your watch to make sure you can make it home before your public transportation stops running for the evening? In addition, while owning a vehicle comes with certain financial considerations—such as gas, insurance, and maintenance—not owning a car can often cost you a significant amount of money, too. Bus and rapid transit fares can add up quickly. What’s more, limiting your mobility and independence can cost you if you’re looking for a new job.

Bad credit car loans can and do exist. In fact we specialize in getting you approved, no matter what your credit background may be. You don’t have to feel embarrassed—we work with people who come from a wide range of financial backgrounds, and are experts in matching you with a bank or lender that can help. Apply today!

5 Benefits of Used Cars

When you set out to look for your dream car, you want one that has all the right features but doesn’t break the bank. Used car dealerships offer you myriad car choices, and they are your best bet for finding that perfect car. Here are five of the benefits of buying used cars.

The first and perhaps most obvious benefit of a used car is the lower price sticker. The steepest depreciation in value comes in the first two or three years of a car’s life. When you buy used, you profit from that depreciation, whereas an original car owner inevitably takes a serious financial hit on trade-in.

Used cars tend to come with lower down payments as well as lower prices. Furthermore, insurance and taxes on your used car will be less expensive, which means you have more money in your wallet at the end of the month.

If you want a car loaded with all the hottest tech, the latest safety features or the cleanest engine developments, you have plenty of options to choose from among cars made in the last two to four years. You can get a thoroughly modern car without the sticker shock or the drastic depreciation.

If you are operating on a tight budget, cars older than four years are probably the ones in your sights. Although buying an older used car may not leave you with Bluetooth compatibility, you will still have access to plenty of safety features in cars that date as far back as early 2010.

Last but not least, if your passion is classic cars, you have only one option. Used is the only way to go.

There are plenty of other benefits to buying used cars. These cars give you the greatest bang for your buck and offer you the widest purchasing variety.

Your Reliable and Attractive Used Vehicle Awaits

Finding an affordable used vehicle does not have to be a terrible chore or feel like a never-ending search. Choosing the right dealership is the first step to finding a car that will serve your needs, be dependable, and hold up against the demands of your busy lifestyle.

Whether you need a comfortable minivan or sedan to transport a growing family or would prefer a sportier edition more suitable for a couple, we offer a fine selection of quality previously owned options, and each is safe, well-maintained, and sure to become like a part of your family itself.

The big issues anyone should consider as they begin searching for their next ride are price range, fuel efficiency, and riders or cargo. Regardless of the work to be done or the pleasure to be had, a quality used car can be had for relatively easy payments that fit even a tight budget so long as the purchasers have a good credit rating. But a poor credit rating does not necessarily take you out of the race for the next car in your life. Even people with poor credit ratings can be financed for the right money down and the proper terms.

The fact is, a dependable car is key to making everything else in most lives run smoothly. Selecting an automobile that is dependable for work, school, and play is key to making the most of every situation one encounters. Furthermore, a great used car can make getting to a from work a more enjoyable experience.

In today’s fast-paced world, it is important that individuals and families be equipped to manage their lifestyles efficiently and effectively. One significant contributor to a well-run life is a dependable car that can be had at a reasonable price, maintained fairly easily, and counted on in even the toughest times and worst conditions. For the best options to get you and your family everywhere you need safely and easily, check out our inventory of reasonably priced, reliable transportation possibilities.

Questions to Ask When Financing a Car

Getting approved to finance the car you want can be exciting. It is tempting to skim through the details of the loan and rush to the dotted line so that you can drive off in your next car. Before you sign, however, it is important to understand all the terms of the agreement between you and the dealership. Before you drive away, here are a few questions you might consider asking.

Are There Potential Penalties?

If you plan to pay only your monthly payment by its due date, you might not be concerned about prepayment penalties. If, however, you might decide that you want to make an extra payment one month or pay more than the minimum payment, it is important to understand how that affects you. Many car loans have penalties for paying the loan off early, so if you plan to do so, ask the dealership if you can change the terms of your loan to eliminate or reduce the penalty before you sign and agree to it.

What is the Interest Rate? T

he annual interest rate (APR) plays a large role in determining how much money you will ultimately end up paying for the car. Make sure you know your interest rate and whether or not there is verbiage in the loan that allows it to fluctuate so that there are no surprises down the road.

What is the Payment Schedule?

The timeliness of your car payments can affect your credit, so it is essential to understand your payment schedule. Before you sign, make sure that you understand how often you will need to make a payment and how much that payment will be. It is also a good idea to know the total number of payments you will make over the life of the loan so that you can calculate your total cost.

As exhilarating as buying a car can be, don’t let your emotions cloud your judgement. Know the facts of your loan agreement.

Why Buying a Newer Used Car Makes So Much Sense

Buying used cars is a smart move, and there are even ways to make it smarter. We can guide you through the process so you drive off our lot with a nice car at a really nice price. One truly smart move is to buy a newer used car, one that is between one to three years old. This is often the sweet spot for getting a good deal and a fine vehicle.

Value

Everyone knows a new car loses a large percentage of its resale value when it is driven off the lot. Some estimates are as high as 30 percent. After that, the depreciation of a car stabilizes for several years. When the car gets much older, depreciation tends to speed up again. When you buy a newer used car you can also benefit from lower maintenance costs. It could be years before brakes, tires, batteries and windshield wipers need to be replaced. Larger repairs such as transmission or engine work could be even further down the road.

Reliability

Newer used cars tend be very reliable, making the prospect of being stranded somewhere unlikely. Dependability in a car is one of the things people value the most. Not only can breaking down in an unfamiliar place be expensive, it could also be dangerous. Most people do not want friends or family members driving an automobile that could break down.

Technology

With a used car that is only a year or two old, you should be able to enjoy all of the latest technology for safety, comfort and performance. These cars will likely have such features as Bluetooth, lane stabilization, rearview cameras, passenger side airbags and many other advances. With savings from buying a used car, you might even be able to afford a loaded vehicle.

We believe used cars are a wonderful value. They offer value, reliability and smart technology all at once.

5 Smart Questions to Ask a Used Car Dealer

Shopping for and comparing used cars may seem like an overwhelming or stressful task. After all, you are making a major monetary investment. So, it is important that you find a quality vehicle for the best price. To make things easier for you, we have prepared a list of questions to ask the car dealer.

Do You Take Trade-Ins?

Selling your current vehicle to a dealer is beneficial. For one, it takes the hassle out of selling the car on your own. Additionally, it lowers the final price you pay for your used car.

Who Is the Previous Owner?

Dealers receive used cars from a variety of sources, such as private owners, rental car fleets and auctions. The car’s history gives you a better picture of its value. For example, if it is a trade-in there a good chance the dealer has maintenance records. You can also obtain information about prior accidents or repair costs.

Can I Get a Copy of the Pre-Certification Report?

If you are interested in a certified pre-owned car, request the service report. The document provides a list of everything fixed as well as anything that still requires work.

How Long Can I Test Drive the Car?

There are dealerships who allow customers to keep used cars overnight. In these instances, you will need proof of insurance. A handwritten agreement stating you will return the car with a full tank of gas and won’t drive more than 100 kilometers may also be required.

Do You Provide New Equipment?

Dealerships may sweeten the deal with some extra items. You can negotiate for things such as a set of tires or a new timing belt, especially if the auto has close to 100,000 kilometers.

Asking the right questions will help your trip to the dealer go a lot smoother. Once you have the information you need, you will feel confident knowing you have bought the right car.

Get a Loan, Get a Car, Get Going

Car loans are a wonderful way to buy a car or truck that is worth more money than you have in your bank account at the time of purchase. These allow one to build credit while driving a vehicle that would otherwise be financially out of reach. At our dealership we sell more cars to customers utilizing auto loans than we do otherwise. It is rare these days to find a customer that is willing to pay in full up front for a car or truck, and for this reason we have a top-notch lending team to help even those with the worst of credit scores drive away happy.

To achieve the best rates on a loan for an automobile one should come to the dealership with a high credit score. This, bar none, is the most important aspect that lenders consider when deciding whether to approve a borrower for an auto loan. Second to the credit score, lenders are looking for a decent amount of cash to be put down towards the cost of the vehicle up front. In the event of bad credit one must provide a cosigner or come up with another creative way to appeal to the lender.

Whether your credit is a shining reflection of your awesome spending, debtor, and financial habits, or it is a mar on your record indicative of a reckless spender, our dealership can work with you. We want nothing more than to provide you with the optimum vehicle for your needs. We will bend over backwards to help you, whatever your situation, into one of our vehicles.

Our premier staff of salesmen and lenders will make you feel right at home at our dealership. We can accommodate the pickiest of buyers and the worst of credit scores. Help us help you hit the open road in a new-to-you vehicle that will turn heads across Canada.