Bad Credit Auto Loan – Bad Credit? We can help.
There are a lot of misconceptions out there that if you have bad credit or no credit, as in some history of late payments or such, that you can’t get a car loan. What we’re here to tell you is this is not entirely true. Dealerships and lenders have found that with the ups and down of the Canadian economy they need to make auto loans available for good and bad credit customers alike. The approval process may be a little different, but it is now made available to all people with all credit backgrounds.
Canadian’s are getting approved for auto loans a lot more often now thanks to programs that help out bad and no credit customers. Mr Finance BC has helped thousands of customers with bad credit – finding great vehicles, great terms and great customers together!
Auto Loan with Bad Credit – Is it all that Different?
The major difference between getting a car loan with less than perfect credit and perfect credit can be be how you get one. If you have perfect credit you can typically walk into any major bank or credit union and they will give you an auto loan which you are free to do what you want with. Unfortunately for those of us that have bad credit and need an auto loan, dealing with banks is a bit of a dead end road.
The good news is there are many available lenders that specialize in people with bad credit. These lenders have programs setup to help you get a vehicle loan. When you Apply there will sometimes be restrictions on the auto loans such as how much you can spend or how old the vehicle can be. The lenders typically want to make sure the customer who has had bad credit is getting a loan on a vehicle they can afford and aren’t over paying. And also to make sure the vehicle will still be worth something down the road, and these are all mainly because they are taking somewhat of a bigger risk with a customer that has bad credit. But they understand everyone makes mistakes and second chances are good for these kind of situations.
Bad Credit Car Loans – How Can I get one?
You can definitely try going into your bank to get approved for a car loan, or even walk into a dealership to see what they can offer. The problem is you may be wasting a lot of your time and end up getting very frustrated. MrFinanceBC does the legwork and uses the relationship with lenders to help you get approved, we also have access to thousands of vehicles across 17 dealerships across Canada who have special departments setup to assist bad credit customers. There are new programs being introduced every month and many times options on both new and pre-owned vehicles. We can definitely help you get that much closer to driving the vehicle that matches your needs.
Fill out our 30 second application toda and let us get to work for you right away.