Buying A Vehicle With Bad Credit
Due to a surge in the amount of Canadians with bad credit, a select number of financial institutions have geared themselves specifically to specialize in bad credit car loans. It is through these banks and private lenders that people with bad credit, who in the past may have not have been approved for a car loan, are now virtually 100% approved Guaranteed! This may sound too good to be true, but it is not. The approval process for a bad credit car loan has never been easier!
Having bad credit is not something to be ashamed of. You can have the car of your dreams without waiting for your bad credit to repair itself. Forget waiting for seven years for bad credit to “fall off your bureau”. Take control of your credit and your finances. By getting a bad credit car loan, your credit will also improve faster. Here’s how it works: making regular payments on your car loan each month will show the credit company that you are responsible and capable of consistently making your loan payments. It will only take a few months before the credit company will raise your credit score and you will be on your way to re-establishing your credit.
Customers are getting more and more auto loans thanks to programs setup to measure affordability and risk even with bad and no credit customers.
Car loans are a great way to rebuild your credit – especially if we create a plan that is not only affordable for you but gets you a vehicle that you love. With regular payments, lendors begin to regain their confidence in you, and in turn, your credit will begin to rebuild.
It’s important to keep in mind that while we are confident that we can get you approved for a bad credit car loan, that you likely shouldn’t get your hopes up for a $60,000 dollar vehicle. We’re here to provide the necessity of a vehicle but create a customized plan that caters to your individual needs and circumstances. We provide a large variety of great quality used vehicles for sale under $20,000 which come packed with value and features at a discounted rate.
Boktor Motors Car is unique that we’re ready to work with anyone no matter what their current financial situation is. We’ll even do our very best for high risk clients. At Boktor Motors , we understand that poor credit or no credit doesn’t eliminate your need for a vehicle. That’s why we take pride in working with everyone to get them an auto loan no matter what!
Before You Buy Vehicle
Before you finance a vehicle, take a look at your financial situation to make sure you have enough income to cover your monthly living expenses. Then, if you want to finance a vehicle, know that the total amount you will pay will depend on several factors, including the price you negotiate for the vehicle, the Annual Percentage Rate (APR), which may be negotiable, and the length of the auto loans contract.
When yo Apply For An Auto Loan
Most dealerships have a Finance Department that will tell you about its available auto loan options. The Financial Department manager will ask you to complete a car loan application, which may include your:
- Full name
- Date Of Birth
- Address Information
- Employment Information
- Monthly gross income
- Financial Information