Tips on How to Get a Car Loan With Bad Credit

To purchase a car with poor credit might feel impossible. Don’t let that feeling fool you. It can be a challenge at times, but it’s not even close to being improbable. In fact, with many people trapped with bad credit, it’s more common than you think to be approved of bad credit car loans. By no means should your credit history determine whether or not you have reliable transportation. Here are three tips to remember when considering a car loan.

Shop Around

There are many dealerships and lenders that offer car loans to people with poor credit scores. You never have to settle for the first one that you come across. The best course of action is to look around and compare rates. You should find out which lender will offer you the best rate at the lowest interest. Dealerships don’t look at every client with bad credit the same way. Some may consider one score to be less optimal than another and may have different terms and conditions. Always take a look at your options.

Look at Loan Terms

It may be appealing to go for a loan that has a lower rate over a longer time period. This can lead to you paying more money than you would have if it’s a loan that has a higher rate over a shorter span of time. Make sure that you are looking at the loan as a whole, rather than just the monthly payments.

Aim High

When it comes to credit scores, bad credit isn’t always what it seems in auto loans. In fact, what would be considered bad credit for a mortgage may actually be adequate for a vehicle. If you have bad credit, keep this in mind. If you apply for a loan for someone with poor credit, you may get worse terms than if you tried for a better loan.

3 Things You Need To Know About the Car Loan

Whether you have good credit or bad credit, we make it possible for all of our customers to get car loans on the same day that they apply. After all, we know that getting the right car often requires a little help from our lenders. Our first priority, of course, is to make sure that all of our customers get the right cars for their needs – and that those cars are going to be safe and reliable for years to come.

Here are 3 things that you need to know about car loans if you’re in the car buying market:

Bad credit doesn’t matter

As far as your ability to secure a car loan goes, having bad credit doesn’t matter. We offer car loans to customers with good credit just as often as we offer car loans in Oakville to customers with bad credit – or even no credit. Car loans help us to ensure that our customers get the best cars for their lifestyles and needs. By offering no credit or bad credit car loans, we help all of our customers get safe cars – not just those customers with perfect credit. Therefore, be sure to ask us about the rates and lending options we have just for you when you apply for a car loan.

You can get started from home

Many of our customers start the car loan process from their comfort of their own homes or offices by completing the credit application online. We have our credit application available through our secure server so that our customers can have the convenience of getting started with their car loans without ever having to come into the dealership. By getting started with the car loan process online, you can have a better idea of what type of loan you may qualify for before you come on down to speak with our lenders.

Car loans can improve your credit

Many of our customers are excited to learn that car loans can actually improve their credit if they have bad credit or no credit. Because car loans interest rates and car loan amounts are based on a borrower’s credit score, it’s best to have the best possible credit score when you apply for a loan. By getting a bad credit car loan, you can improve your credit score by showing future lenders that you can repay a loan. This process will improve your credit history!

Get started with your bad credit or no credit car loan today to get the right car for you – and to start turning your credit around!

Building Your Credit

Sometimes people make bad investments leading to damaged credit. Other times, it’s credit card debt that got out of control. Whatever the reason, your score doesn’t need to keep you from getting the tools you need to succeed in life. Bad credit car loans are available at the dealership however you should deal with a company like ours that specializes in bad credit car loans. However, you may ask yourself why you want to get into another loan situation. The answer is pretty simple: the benefits outweigh the risks if you approach it with some knowledge and preparation.

Get Your Score Back

The best way to rebuild credit is to pay bills on time and make regular payments on a loan. You might not be aware of this, but car payments are a great way of building credit. Taking on more debt to heal your damaged credit might seem counter-intuitive, but if you’re in a good position to pay off the loan on time it’s one of the easiest paths to a higher score.

Get the Right Loan

A lot of this has to do with making the right purchase and getting the right loan. Shop for the most expensive car you can easily afford. This will send a message to the financing organizations that you’re getting property that will still have some value for the life of the loan. With the car itself as some insurance against any default, loan officers are much more likely to approve your request.

Put Money Down

Put as much money down as you can afford. Sure, it might seem better to have it in your bank account, but car loans for low credit scores tend to have high interest rates. Paying as much as possible up front is the only way to minimize the amount of interest you have to pay without lowering the rates.

Get Advice

Everyone’s situation is different, so please fill out our secure online credit application or give us a call for a consultation. Make sure to have your most recent financial documents for our professionals to review.

How Using Bad Credit Car Loans Affects Your Credit

Having poor credit can make life difficult. From getting a personal loan to buying a home are car, financial arrangements are suddenly harder to make, and getting the cash you need may seem impossible. Fortunately, options like bad credit car loans are available to ensure you have the wheels you need to get to and from your most important destinations, regardless of your credit. However, before you dive right into an arrangement such as this one, you need to know how taking out a car loan of this variety will impact your credit in the coming years.

Initial Poor Rates

Perhaps the first thing you should consider is how your current credit affects the terms of bad credit car loans. Naturally, poor credit means you can expect less lenient repayment terms and often higher interest rates than traditional auto loan types. This is because the dealership offering the financing has to look after their own financial well-being during the sale process, and your credit proves you’re a non-repayment risk.

Boost Scores

Even if your rates aren’t the best when you start out, taking care of your payments on time can help you build your credit up to an acceptable level and beyond. While you may start out with poor credit, this provides you as a driver with an excellent opportunity to prove that you’re as responsible with your finances as you are behind the wheel, which is a must if you want to obtain better loans in the future which are better tailored to your needs as a borrower.

These are just a few of the things you’ll need to know about how bad credit car loans interact with your credit both in the present and the future. Speaking to a finance specialist with us can help you learn even more about the impact of payments on your credit score, and get you on the way to getting the loan you need to get the wheels necessary to get moving again.

How to Make Bad Credit Car Loans Less Terrifying

Your credit score is lower than you would like. A polite person might call it “suboptimal.” Regardless of the terminology, having a lower credit score can make large purchases an intimidating experience. The good news is that a few simple practices can take most of the fear out of buying a car. On top of that, a successful car purchase can be an excellent step down the road to a better credit score. Here are a few things to keep in mind when applying for bad credit car loans.

Avoid the Scams

It’s unpleasant, but there are plenty of predators out there. Many predatory lenders see bad credit as a sign of weakness and will look to take advantage. The biggest way to spot these predators is to know your credit score before you even look at the first car. Knowing your credit score first hand will enable you to get online estimates of what a fair loan should entail. While there will be some variance, knowing ballpark figures will help you budget and help you spot scammers. A dishonest lender is likely to tell you your credit score is lower than it is or that your interest rates will be as much as ten to twenty percent higher than they should be. Armed with knowledge, it should be easier to spot these scams and just walk away.

You Still Have Buying Power

The good news is that scammers and predators are not the norm. The simple truth is that bad credit loans are a huge market. There are plenty of dealers and lenders who will appeal to this market without a nefarious motive. These professionals will be up front with your credit score and lending options. Their offers may not match your expectations to the letter, but they should be in the same ballpark. When you are confident you aren’t being scammed, you can feel free to try and negotiate your terms. While bad credit car loans will never see minimal interest rates, the size of the market will still require lenders to be competitive, as long as you give them a little push in that direction.

Bad credit can make buying a car feel so much scarier than it should. If you check your credit score ahead of time and get a few loan estimates, you can avoid the worst case scenarios and negotiate your purchase with confidence.

What to Know When Buying a Car With Bad Credit

Nowadays, it seems like your credit score determines your ability to buy anything from a car to a home. While it can feel like having bad credit can stop you in your tracks for certain purchases, that is not always the case. Bad credit auto loans exist out there for those who need a car but do not have the finances to cover the purchase in full. Before you rush off to take out a loan, here are a few things that you should know going into the process.

Your Credit Score

The biggest thing that you will want to know before you take out a loan for your car is your exact credit score. Knowing your score can help you to understand what you will be looking at in regards to the specifics of your loan. The interest rates and payment plan that you will face will be determined by your score, so make sure that you do your research and know your score before you even set foot into a dealership.

Your Income

Another important thing that you will want to keep in mind is your income. Look over your recent paychecks and see what you make on average. When you have a more solid understanding of your exact finances, you will have no trouble coming up with a budgeting plan that allows you to make regular payments on your loan without ever falling behind financially.

Your Plan

You should also have a plan for the process. Going into a financial situation blind is an easy way for you to feel overwhelmed. Before you make your purchase, sit down and think about what you want to get from your car. Consider your lifestyle, what you will use the car for, and how much you can afford in a down payment. When you take the time to think about all of this, you will be able to pick a car that works for you while making your monthly payments as manageable as possible.

How to Get Bad Credit Car Financing

If you have bad credit and are worried about getting car financing, then worry no longer! We’re happy to tell you that we offer bad credit car financing for our customers regardless of their credit score and credit histories. After all, when it comes to buying a new or used car, you need to have a car that is safe and reliable – even if you have bad credit.

Getting bad credit car financing is quick and easy – especially when you work directly with one of our dealers. Here are a few things that you may need to know to get started!

Apply Online

We offer an easy-to-use online credit application that allows you to fill out the application from the comfort and convenience of your own home. After you submit your information, one of our credit counselors will contact you with more details and to discuss your credit situation.


When you have your consultation with one of our lenders, we’ll go over your credit application and discuss different items. We may want to talk more about why you have bad credit and what is different about your situation now. We may want to know more about your job and living situation as well. Feel free to tell us what’s on your mind – your consultation is confidential and the more candid you are, the better your financial situation will be.

Discuss Options

Based on your credit application and our consultation with you, we’ll develop several different options for you that are uniquely designed to suit your financial situation. We care about helping you to afford your car now, but we are also interested in developing repayment that will help you to easily afford your car years from now as well. For example, we may suggest that you make a smaller monthly loan repayment over a longer period of time if you have a limited income. Alternatively, if you feel comfortable in your current financial situation, we may suggest paying more each month, but having the loan for a shorter amount of time.

Customers with bad credit will have a variety of very manageable options when they work with us. Contact us today, apply online, its fast, easy, and secure. Stop walking and start driving!

Auto Loans to Match Your Financial Needs

The search for a new car carries with it plenty of financial implications. Any dealership you go to has plenty of offers for you, but that doesn’t mean you shouldn’t do your own research in order to find what’s best for you. Auto loans come in all shapes and sizes, making your research and your understanding of what you can afford all the more important.

Find a Loan with Low-Interest Rates

The annual percentage rate (APR) is of the utmost importance when it comes to what you will truly pay in the end. The APR for any loan literally shifts on a daily basis and is based on the length of your loan agreement. A shorter-term loan results in lower interest rates but a larger monthly payment, whereas you have the options to stretch out that same loan and pay less monthly, but your total cost, in the end, will be higher. Find out how you can lock into the best interest rate possible for your situation.

Look at All the Options Available to You

The same way you shop around for the best car at the best price, you should shop around for the best loan. There are plenty of lending options – from big banks and the dealership itself to smaller banks and credit unions – or you can deal with an auto finance company like ours and we will do all the work, so it’s not a situation where you have to settle.

Understand Where You Stand Financially

Monthly payments, total cost once the loan is paid in full, what type of credit you have, and much more will have an impact on what type of loan you works best for you. It all starts and ends with what fits into your budget, so the decision is and should be based on your full understanding of your finances and what works best for you.

Tips for Buying a Car With Bad Credit

The thought of purchasing a new or used car is exciting. What’s not so thrilling is realizing that the process might prove itself to be difficult because you have a bad credit. Don’t worry, bad credit car loans do exist and we want for you to take a look at these tips for buying a car with bad credit.

Check Your Credit Score

You can’t join the battlefield unless you know the variables you are dealing with. If you’re unsure about your most recent credit score, be sure to check it before you head to the dealership. Even if your credit score wouldn’t win a price, don’t give up. There’s more that you can do to get a car loan.

Improve Your Credit Score

Now that you checked your score, it’s important to thoroughly review your report. Do you notice any errors? If so, dispute these mistakes soonest. Do you notice aspects that you are able to improve, such as paying off some old debt? If that’s the case, do so. Improving your score can be helpful and if that means having to wait a few more weeks to go car shopping, then that’s something you should consider.

Get Pre-approval

Now, while this might seem somewhat unconventional, it’s a smart thing to do. Working with a financial institution to get pre-approved can help you understand better why your credit score is bad and what you can do to improve it. Furthermore, knowing how much the bank is willing to lend you and at what interest rate can get you a more competitive offer from a car dealership.

Choose the Right Auto Finance Lender

If you want to proceed with purchasing a car despite your bad credit, find a lender that works with people with bad credits. They want you to have the vehicle of your dreams and have the ability to work with different financial institutions to get you the best rate. Companies like ours also offers in-house financing that can be a valuable option as well.

As you can see, bad credit isn’t the end of the world. Bad credit car loans exist and these tips can help you.

Get Your First Car Regardless of a Low Credit Score

You may have studied hard and practiced for weeks before taking the test to get your driver’s license. Now that you have a license and can drive around to different places, such as work, school and even the grocery store, you may want to make sure you have your own vehicle to get around. It is certainly not fun relying on other people and waiting around for them to drive you to the different places you would like to visit. However, you may think it is impossible to get a car at this moment.

Is your credit score low? When reviewing your credit report, you may have noticed that your score is not so good for a number of different reasons. For example, you may have a lot of debt and inquiries. Even if you are making payments on your credit cards in a timely manner, your score could still be low if you have too many inquiries and way too much debt compared to available credit. Even so, that does not mean you should be denied the opportunity to get a car that you want and need for different reasons.

If you are worried about getting denied, you can contact us. We offer bad credit car loans for those with less than perfect credit scores. We realize that things happen and not everyone will have the perfect score, but we believe in offering an opportunity to those who are in need of a vehicle. We offer a large selection of different cars to choose from, too. If you want to stop depending on others for a ride and be able to drive around on your own as often as you would like, consider completing our secure online credit application process for a loan. The process is simple and fair. Before you know it, you could be driving away in your first car.