Car loans are not just for people with good credit. There are British Columbia dealerships that sell people new and used cars on a daily basis that don’t have good credit. So how are all these people doing it? They are looking for car loans for bad credit from lenders who don’t focus so much on the credit score. They focus on more important things, like your ability to make your monthly car payment.
When you want to buy a car, you can’t let something like your credit score stand in the way of getting behind the wheel of a new car. Whether it’s new or used, there are lending companies and dealerships who will help you buy a car regardless of what your credit score might be.
Your past mistakes are just that – in the past. They shouldn’t keep haunting you at every chance they get. If you have been told that you can’t get a car loan because of your bad credit, you haven’t been looking in the right places. There are car loans in British Columbia that can be given out, even if you don’t have the high credit score that others have.
Bad credit isn’t the death sentence that it used to be. Many Canadian residents are going through the same thing as you. Some have experienced foreclosures, others bankruptcy and others with problems paying loans on time. Regardless of why you have the bad credit, you still have options in front of you – and many of them can be very enticing.
The car loans for bad credit look at a very important factor – your employment. If you have a steady job and make enough to afford the car loan, that’s good enough for a number of lenders. This allows you to move on with your life behind the wheel of a new or used car without being stopped by a bad credit score.
You shouldn’t have to keep taking public transportation or driving around in an old car that’s not getting you to and from your destinations in a reliable manner. Your car is an extension of who you are. When it’s time to get a new car, there should be nothing standing in your way – including bad credit.
In British Columbia, Canada, there are lending companies and car dealerships who will work with you when you have bad credit. Many of these places have specific programs in place for people just like you. Some will check your credit score, others won’t. Some will perform an employer verification and others won’t. You have to explore all the options to find one that best suits your needs.
When you are ready to apply for a loan, you don’t want to apply for one. You should make applications to at least two different sources to see how the offers differ. The deal you get from one lender may be much better than another. You would never know this without checking out both of them. There is no legal obligation to go with either lender. These are simply offers – you can take them or leave them.
Having some points of comparison will help you determine if you are getting the good deal you think you are. Many lenders still look at bad credit as high risk. Other lenders are more open-minded if you can prove that you have a steady job. This is why it’s so important to make comparisons between offers before you jump at the first one willing to approve you.
When you shop for a car in British Columbia, you may be looking at new or used cars, trucks or SUVs. It doesn’t matter which you choose as long as you can afford the monthly payment. Various factors contribute to the calculation of your monthly payment. This includes the total amount of the loan, the APR and the loan terms.
Each offer you get may include different APRs, loan terms and even how much they are willing to lend you. This is why it’s such a good idea to get pre-approved for a loan. Without a pre-approval in your hand, you may go onto the dealership’s lot without knowing how much you can afford. This could prove dangerous because you may fall in love with a car that’s too far out of your price range.
As you explore the offers from lenders, you have to look at the loan terms. Some loans will be for 24 months, others may be for as much as 84 months. When a lender is giving you a longer loan term, it allows you to spread the payments over more months, making them more affordable. While doing this can help you now, it’s also going to cost you more in interest over the length of the loan.
You have to think about what is the best option for you and your finances. Would you rather have a low interest rate and a shorter loan term or a higher interest rate and a longer loan term? Much of this will have to do with what you can afford on a monthly basis and what is being offered to you from the loan companies in British Columbia.
The good news is that bad credit isn’t going to stop you from getting a car loan. Even if bad credit has stopped you in the past, it won’t anymore. Lenders are more willing to work with bad credit now than they were in the past simply because more people throughout British Columbia have experienced life issues that have resulted in a lower credit score.
Start looking at different cars at the dealerships in British Columbia. Whether you buy new or used, there is a car out there for you. You don’t have to worry about the loan – there are lenders who will work with you. The more lending companies and car dealerships you know about, the easier it will be to find the loan that is right for you and your finances. You can then drive away in a new car faster than you ever thought was possible.
Our staff has compiled a list of car dealerships that can help secure a bad credit car loan in British Columbia, Canada.
AB Car Sales Ltd – Reviewed by Thomas Vargo on Dec 10. Rating: 4.0
They can help people in Canada with bad credit get a car loan.
A used car dealer that specializes in bad credit car and trucks loans and auto financing in the Kamloops, B.C. interior area.
Location of AB Car Sales Ltd:
102 Tranquille Rd.,
Telephone: (250) 376-2112.
Galaxy Motors – Reviewed by Thomas Vargo on Dec 10. Rating: 4.0
They have over 12 banks to offer financing through.
Galaxy Motors is the largest independent used car dealer on Vancouver Island. They have very easy and flexible finance options for all types of credit such as bad credit, no credit, and past bankruptcy.
Location of Galaxy Motors – Duncan:
7329 Trans Canada Highway,
Telephone: (250) 597-0424.
Location of Galaxy Motors – Nanaimo:
4777 Island Highway North,
Telephone: (250) 729-7991.
Location of Galaxy Motors – Victoria:
1772 Island Highway,
Telephone: (250) 478-7603.
Eagel Ridge GM – Reviewed by Thomas Vargo on Dec 10. Rating: 5.0
This Chevrolet, Buick, GMC dealer was awarded General Motor’s most prestigious award, the President’s Triple Crown award.
Eagle Ridge Pontiac Has been Involved in Tens of Thousands of Vehicular Transactions over the years and they can deal with any type of credit situation you may have. They work with a wide array of financial institutions to help you get the new or used car or truck you deserve: Bank of Nova Scotia, Royal Bank, TD Canada Trust, Bank of Montreal, Credit Unions, VFC, WS Leasing, Scotia Dealer Advantage, Carfinco, Financial Lynx, GMAC, Curomax, Route 1, and Dealer Access.
Location of Eagel Ridge GM:
2595 Barnet Highway.,
BC, V3E 1K9, Canada.
Telephone: (604) 464-3941.
Trinity autocentre – Reviewed by Adele Dannels on Dec 10. Rating: 5.0
The team at Trinity is able to help with a 99.9% approval rate.
A premier retailer of used cars, trucks and SUVs serving Coquitlam, Vancouver, Surrey, Langley, Burnaby and Maple Ridge. Their team of financial advisors will meet with you in order to assess the specifics of your credit situation and then develop a customized six month game plan that will fix any problems as quickly as possible. Whether your credit is GOOD, BAD, or UGLY.
Location of Trinity autocentre:
513 Clarke Road.,
BC, V3J 3X3, Canada.
Telephone: (877) 844-4356.
Kelowna Chrysler/Dodge/Jeep – Reviewed by Adele Dannels on Dec 10. Rating: 5.0
They have experts at arranging financing for a vehicle that you want and that fits your budget.
A certified DaimlerChrysler Five Star retailer with an inventory of high quality new and pre-owned vehicles. Their lenders will help you work through your past credit problems.
Location of Kelowna Chrysler/Dodge/Jeep:
2440 Enterprise Way.,
BC, V1X 6X6, Canada.
Telephone: (250) 870-5447.
Harris Mitsubishi – Reviewed by Adele Dannels on Dec 10. Rating: 4.5
They have loans available from 15 lenders.
They can help you get the best car loan interest terms and rates. Whether you are buying the popular Outlander or the versatile RVR, they can make financial arrangements to suit your budget. Whether you have a history of bad credit or an unforeseen circumstance that has negatively impacted your credit rating.
Location of Harris Mitsubishi:
2595 Bowen Rd.,
BC, V9T 3L4, Canada.
Telephone: (800) 657-8681.
South Thompson RV – Reviewed by Adele Dannels on Dec 10. Rating: 4.0
They can help get financing for RV’s with less than perfect credit.
Their sales staff are committed to making the dream of owning an RV come true for their clients no matter what their budget might be. Their finance department deals with several financial institutions to help you get the best credit package that meets your needs.
Location of South Thompson RV:
2449 Trans Canada Hwy E.,
BC, V2C 4A9, Canada.
Telephone: (250) 374-4949.