The reasons for bad credit vary. People can lose their jobs, and the loans that they had previously not had a problem paying each month, cannot be paid. They may fall behind on utility payments or credit card debt. A divorce can play havoc on a person’s credit history, especially if the home was one income, and the spouse had to find work. There are many reasons a person might have slipped on their credit and are now in a hole. Many situations are not the fault of the consumer, but are just a fact of life, and an unfortunate circumstance. Sadly, creditors do not care why a person has bad credit. All the creditors are concerned with is whether this person can pay back their money or not. Creditors will judge their future trustworthiness on the history of a potential borrower.
Even if you have not defaulted on a loan or credit card recently, the information contained in the credit report can sit there for years throwing a shadow over your present credit and giving creditors a bad impression. You might think because you haven’t had a loan since college that there is nothing bad on your credit report. It might be surprising to find out what gets reported to credit agencies and listed on the credit report. Credit cards, store cards and student loans are, of course, on a credit report, but utility payment records, bankruptcies, foreclosures and tax liens are on the credit report as well. Just because a creditor is not chasing you for payment anymore, does not mean that you are free of debt. The company might have written off your bad debt because it wasn’t worth the money to pursue in court or through a debt collection agency. They will still report that write-off to the credit company. That is another huge black mark on the consumer’s credit record. Most consumers make a good faith effort to pay back debts when they are back on their feet after an unfortunate circumstance. While you may be working on rebuilding credit, it can be hard to find a bank, financial institution or company to take a chance on you right now. After getting your credit report, you can draw up a plan to rebuild your credit by paying off old debts. Applying for a loan, after making arrangements for debt repayment, is still quite difficult. It takes years to drag your credit out of the black hole of debt. Companies will frown and refuse to loan you money until they see a track record of repayments spanning more than a few months. People with no credit have the same problem as people with bad credit. They have not built up a credit history at all. Effectively, the credit company has no idea about the person’s spending habits. The company might be wary and suspicious about lending to someone they know nothing about based on no credit history. Either bad credit or no credit makes borrowing for big purchases difficult. This can create a burden to a consumer. To make big purchases, the consumer has to save up for months or years. If the consumer can find a creditor who specializes in customers with bad or no credit, he or she can get a loan to make that big, necessary purchase, and the consumer can start rebuilding credit. Besides repaying old debt, showing a responsibility now with a new loan helps repair the credit score.
There are companies that will specialize in taking a chance on people with bad credit who have good jobs and are stable individuals who just might have gone through a rough patch. They will search more than just credit score to judge a consumer. They will look at how stable the person’s life is by checking how long they have worked at a company, how long they have lived at their present address and whether they have had a default account recently.
There are car companies especially that will help a responsible individual build up their credit by helping them secure a loan to buy a car. This is important because often lack of a good car can stop most people from finding or keeping a job. With the current economy, people are expanding their search area when it comes to employment. Without a car, a customer will have to stay local or find a job on a bus route. This is very inconvenient when jobs are hard to find. If the person has a job that requires a long commute, a perfectly running car is essential.
For this reason, customers that need a new car should find companies that specialize in auto financing for customers with bad or no credit. These companies are willing to work with customers to find a loan company and loan amount that is perfectly suited each customer.
Our staff has compiled a list of car dealerships that can help secure a bad credit car loan in Alberta, Canada.
Kramer Mazda – Reviewed by Thomas Vargo on Dec 10. Rating: 4.0
Bad credit car financing in Canada.
Has a program available for people in Canada looking to rebuild their credit.
Location of Kramer Mazda:
11888 MacLeod Trail S.E.,
AB T2J 7J2, Canada.
Telephone: (403) 259-0500.
Mac James Motors – Reviewed by Thomas Vargo on Dec 10. Rating: 4.0
Used car financing programs with bad credit.
A used car dealership that specializes in providing dependable used cars with affordable payments. They match the consumer to the car, minivan or truck that meets their needs and fits within their budget. All of their cars, trucks and minivans are fully inspected and completely reconditioned by a quality independent shop before they are made available for auto financing. They can approve you for a used car loan if you have declared bankruptcy, and they can even approve you for a car loan if you are currently in bankruptcy. They have helped thousands of customers with a bankruptcy obtain a dependable use car or truck and rebuild bad credit. No credit, bad credit, and poor credit is no problem at Mac James Motors.
Mac James Motors Edmonton North Location:
14444 St Albert Trail,
Telephone: (877) 232-2886.
Mac James Motors Edmonton South Location:
9111 – 34 A Ave,
Telephone: (888) 508-8665.
Mac James Motors Red Deer Location:
136 – 37400 Hwy 2 South,
Telephone: (877) 232-2886.
Car Max Canada Superstore – Reviewed by Thomas Vargo on Dec 10. Rating: 5.0
They have helped thousands of people re-establish their damaged credit.
Good Credit, Bad Credit, No Credit, and even if you are in Bankruptcy, this used car dealership in Calgary, can help you finally get credit for an auto loan.
Location of Car Max Canada Superstore:
2030 – 16 Ave NE,
AB T2E 1L3
Telephone: (888) 768-6843.
Crosstown Auto Centre – Reviewed by Thomas Vargo on Dec 10. Rating: 5.0
No credit or bad credit is No problem.
The largest Chrysler, Jeep, Dodge, Ram, FIAT retailer in Canada featuring all of the most popular models. Regardless of your credit situation they can help. They have the finance solution to suit your situation.
Location of Crosstown Auto Centre:
15520 123 Ave,
AB T5V 1K5
Telephone: (888) 691-4480
Crowfoot Dodge – Reviewed by Thomas Vargo on Dec 10. Rating: 5.0
Crowfoot Dodge Chrysler Inc and their lenders will help you work through your past problems.
Is a family owned and operated dealership established in 1976. They are experts at arranging financing for a vehicle that you want and that fits your budget. They have credit rebuilding programs for Bankruptcies, Bad Credit, No Credit, Repossessions, Divorce, Tax Problems, and Charge Offs.
Location of Crowfoot Dodge:
20 Crowfoot Rise NW,
AB T3G 3S7
Telephone: (888) 979-9599
Cam Clark Ford – Reviewed by Thomas Vargo on Dec 10. Rating: 5.0
No credit, no problem.
Their inventory consists of all makes and models including; Ford, Dodge, GMC, Chevy, Buick, Lincoln, Mazda, Toyota, Honda, Mitsubishi, Saturn, Infinity, Nissan, and more. All types of credit, from good to bad, can qualify for an auto loan. They will work with you to secure a no credit car loan if your situation demands it.
Location of Cam Clark Ford:
5642 – 46th Street,
AB T4H 1B8
Telephone: (888) 446-5093
Sherwood Kia – Reviewed by Adele Dannels on Dec 10. Rating: 5.0
Has a helpful staff that can provide answers for first time buyers.
Sherwood Kia has a friendly and helpful sales staff, highly skilled mechanics, and multiple automotive industry awards. They have a first time car buyers program available for Canadian residents.
Location of Sherwood Kia:
20 Broadway Boulevard,
AB AB T8H 2H2
Telephone: (877) 468-3905.
Jeet Auto Sales – Reviewed by Adele Dannels on Dec 10. Rating: 4.0
They can help people in Canada with bad credit car loans.
A used car and truck dealer that has a number of lenders associated with them looking for sincere/serious individuals with any source of income. Over 28 years of combined Credit Re-Establishment/Granting Experience.
Location of Jeet Auto Sales:
7303 – 82 Ave (Whyte Ave),
AB T6B 0G3
Telephone: (888) 528-4789.