If you have a low credit score, you may be thinking it will be impossible to get a reliable car. However, we can offer bad credit car loans to be sure you can get back on the road quickly and still keep your family safe. Follow these tips to see how we can help you get a loan even with a mediocre to poor credit rating.
KNOW YOUR CREDIT RATING
Have a good idea of any activity that decreased your score and watch for any discrepancies. Even when working with a reputed dealer like us, it helps to be knowledgeable so deals can be discussed on equal ground. Also, if there’s a logical reason for any of the blips on your credit, explain them to us and we may be more willing to work with you, no matter your score.
CONSIDER A SHORTER TERM LOAN
Don’t judge bad credit car loans on your monthly payments alone. The interest rate on longer loan terms can gouge you. Instead, talk to us about accepting a shorter loan period. While your payments may be a limit higher, you’ll save hundreds of dollars in the long run. You’ll also have fewer years to worry about the loan so you can start putting that money into other credit blemishes afterward.
LIMIT YOUR FINANCING SEARCH TOWER
Every time you apply for credit, it negatively impacts your credit score. However, if you apply to various dealers within a 2-week timeframe, credit companies often count them all as a single inquiry. So, try to limit your application period.
BUY A COMPARATIVELY NEW USED VEHICLE
Older vehicles often have high interest rates. So, try looking at comparatively new used cars. We offer great financing terms for automobiles that will save you a large amount of money over time.
Just because you have a low credit score does not mean you cannot get a car. Bad credit car loans are available to get you into a vehicle that will run reliably.
Ontario Auto Loan Now is located in Markham, Ontario and also serves Vaughan, Newmarket, Uxbridge, Sudbury, Peterborough, North Bay, Whitby, Oshawa, Port Perry and surrounding areas.