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Getting a Car Loan With Bad Credit

You know you probably need to replace your car, but your credit is not stellar. It is a mistake to assume that your low credit score is a deal breaker when it comes to financing your next vehicle, though. Auto Finance companies like ours handle bad credit car loans all the time, so don’t abandon all hope that you will be approved. All you need to do is prove that you are not as much of a credit risk as your score might indicate.

How Low is Your Credit?

Many people are unaware of their credit score. Maybe you assume that it is terrible because you had problems a few years ago. Before you come to us, get a copy of your credit report. Not only may you be pleasantly surprised at your score, but you might also discover quick ways to raise your score. Be sure to correct any mistakes on your report that you find. If you catch them in time, you can get them corrected before you need the car loan.

How Much Do You Make?

If you have bad credit, you can often offset it with proof that you have a significant amount of disposable income. Credit only shows your payment history. It does not show your present or future. Your pay stubs, however, can give us a fuller picture of your actual ability to honor the terms of the loan.

How Much Can You Put Down?

You can also increase your loan approval chances by making a large down payment. A large down payment can also help you get better terms on the car loan. This lowers the total amount you are asking to borrow, which makes you less of a credit risk to our lending partners.

Your credit history does not have to end your chances of getting the car you want. If you can prove that you can afford the vehicle, your loan application is likely to be approved.

Your Guide to Financing a Used Car

Whether you have a tight budget or you just want to save money on a new set of wheels, there are several reasons why you might opt to buy a used car instead of a new one. Whatever your reasons are, the fact is that you may still need financing. Financing used cars is often more difficult and more expensive than financing new cars, but by using the following tips, you can walk away with a used vehicle loan with fair rates and even better terms.

Be Prepared

Because lending on a used car is inherently riskier for lenders than lending on a new car, the terms and rates on a used vehicle loan are generally short and high. The best way to get a loan that you’re satisfied with is to be prepared. Know what you can afford, know your credit score and have proof of income printed and ready to show. In fact, do the dealership one better and talk to a company like ours that specializes in bad credit car loans.

Fix Your Credit

If you need financing for a used vehicle, check your credit score before you head to the lot. If it’s less than 620 or even 650, take measures to repair it. Though it may take you a few months to do so, it will be well worth it when you can save thousands on interest.

Avoid Bad Credit Dealers

Sure, it may be easy to get a loan from a bad credit dealership, but only because they know that you’re desperate and are willing to pay an arm, a leg and quite possibly your first born for a used car. Buy Here/Pay Here lots generally charge higher-than-market interest rates and sell vehicles for significantly more than what they’re worth. Protect your wallet (and your dignity) and steer clear of these types of sellers.

Financing a used car is not impossible. Be prepared, fix your credit and shop wisely to find the best rates and terms possible.

Even With Slow Credit, You Can Qualify for a Car Loan

Shopping for a car should be fun and exciting. If you have credit issues, you may be dreading the experience. We want to help you get a car loan so you can have reliable transportation. Our dealership specializes in assisting consumers with credit problems. Slow credit car loans are available, but you will need to be prepared before you come in.

We believe everyone needs a chance to fix their credit. Often, the financing options for people with slow credit involve having the payments automatically taken out of the account before the actual deadline. With steady income and a bank account, you may qualify for more car than you thought possible.

Taking the time to look at your credit and fix the errors before you apply for financing is a good idea. If you are not under a time crunch to purchase a new vehicle, spend 3-4 months making payments on time to improve your credit. If you can’t wait, work with our dealership to find the right financing.

Before you shop for cars, get pre-approved for the right financing. Then you will know exactly how much you have to spend on your car before you shop. Our professional sales team will help you find the right vehicle to meet your needs and stay within your budget. You can test drive as many different cars or trucks as you choose.

Slow credit car loans that are automatically deducted from your account will improve your score over time. After a year of regular payments, it is possible to get refinanced with lower interest rates or into a better car. Don’t let your poor credit keep you from getting the vehicle you need to get to your job. Let our dealership help you find the financing so you can rebuild your credit.

Bring the fun back into the experience when you are assured you will be able to afford the vehicle you’re test driving. Find the right financing company by going through our dealership. We have many options for slow credit car loans. We want to give you the chance to fix your credit and drive the car you want.

Two Ways to Help You Get a Car Loan With Bad Credit

It is easy to believe the lie that bad credit car loans just do not exist. We believe you should be able to receive quality financing, regardless of how poor you consider your credit. We want to do what we can to make sure you obtain the vehicle you want and also receive low monthly payments. Here are proven ways you can get a loan without a superb score.

Be Positive About Your Score

We say this because, a lot of the time, people assume the worst and think because their credit score is not perfect, there is no way they will get the loan for their car. We not only look at this, but also at your history. This means even if it is poor, if you have a solid past you will likely get a better loan than someone with an equal score but no history. Come in with a positive attitude, knowing you do have a chance and that our goal is to do what we can to help you.

Big Down Payments Can Make All the Difference

If your credit is considered low, we advise you to have a pretty large amount of cash you can provide us as a down payment for the vehicle. When financing, this is one of the best ways to get a better interest rate. It will also help to lower your monthly payments, which can be a great thing, especially if your financial circumstances change throughout the duration of the loan.

We understand that not everyone has great credit. This is why we are willing to work with you, regardless of the situation you find yourself in. Most banks and financial institutions will likely turn you down if your results are 600 or lower, but we will do what we can to get you your dream car and excellent financing.

Alleviate Your Financial Woes With Bad Credit Car Loans

If your car broke down, you might find yourself in a tricky situation. If you have bad credit, you might think your chances of getting a vehicle so that you can go to work and earn a living are nonexistent. Luckily, that is not the case. Bad credit car loans can help consumers get a dependable vehicle they need.

Our staff specializes in providing customers with the information to make an informed decision. A bad credit score is in fact more beneficial in some situations than no credit history at all. Making low risk monthly payments is a great way to get your score back up, and possibly qualify you for big loans in the future such as a house loan.

Better yet, our selection of quality used vehicles is almost unsurpassable. We have a wide variety of well-maintained cars in all makes and models ready to be test driven. Our friendly staff is ready to answer all your questions and help you make a decision you won’t regret. From the second you step foot on our lot to when you drive out with your dream car, you’ll be treated with the utmost respect.

Forget about talking with a bank specialist or third party lender. We have the knowledge and expertise to provide you with financing you can afford. If you need a car as soon as possible, speaking with financers outside a dealership can only complicate your situation and waste time. Our goal is to get you on the road fast.

Relying on public transportation is not an option for everyone. Risking unemployment because your car broke down is an unfortunate situation that nobody should go through alone. Take the time to visit our website and get Pre-Approved and discover how you can get a bad credit car loan and an automobile that won’t fail you when the going gets tough.

Important Steps to Take When You Need a New Car

You need a new car, but you have bad credit. You may be stressing out while trying to figure out how you are going to get a new vehicle to use. You probably think you are automatically going to get denied for any type of loan simply because your credit score is considered poor. While it is often harder for those with poor credit scores to get the help they need, our finance company provides bad credit car loans to individuals who can really use them. We understand the struggle and we want to make things right for you.

It all starts with completing an application. You can simply fill out our secure online credit application prior to getting approved. Upon receiving an approval, we can show you around, giving you an opportunity to check out all of the different cars we have available. While you are at our dealership, you will see all different kinds of makes and models available, so there should easily be something of interest there for you, too. You may want to compare the cost and determine how much you would be expected to pay on a monthly basis before selecting the specific vehicle you would like to get from our dealership.

Once you have selected the car you would like to get, you can complete the paperwork and drive right out of the dealership. We know you do not have time for stress and headaches, so we are here to help you with the entire process from start to finish. Our primary goal is to make sure you are satisfied and can leave our dealership with a smile on your face while riding away in something you absolutely love. Do not let your bad credit deter you from completing an application for a loan. You could receive an instant approval and have a vehicle you love shortly thereafter.

Tips for Buying a Car With Bad Credit

The thought of purchasing a new or used car is exciting. What’s not so thrilling is realizing that the process might prove itself to be difficult because you have a bad credit. Don’t worry, bad credit car loans do exist and we want for you to take a look at these tips for buying a car with bad credit.

Check Your Credit Score

You can’t join the battlefield unless you know the variables you are dealing with. If you’re unsure about your most recent credit score, be sure to check it before you head to the dealership. Even if your credit score wouldn’t win a price, don’t give up. There’s more that you can do to get a car loan.

Improve Your Credit Score

Now that you checked your score, it’s important to thoroughly review your report. Do you notice any errors? If so, dispute these mistakes soonest. Do you notice aspects that you are able to improve, such as paying off some old debt? If that’s the case, do so. Improving your score can be helpful and if that means having to wait a few more weeks to go car shopping, then that’s something you should consider.

Get Pre-approval

Now, while this might seem somewhat unconventional, it’s a smart thing to do. Working with a financial institution to get pre-approved can help you understand better why your credit score is bad and what you can do to improve it. Furthermore, knowing how much the bank is willing to lend you and at what interest rate can get you a more competitive offer from a car dealership.

Choose the Right Auto Finance Lender

If you want to proceed with purchasing a car despite your bad credit, find a lender that works with people with bad credits. They want you to have the vehicle of your dreams and have the ability to work with different financial institutions to get you the best rate. Companies like ours also offers in-house financing that can be a valuable option as well.

As you can see, bad credit isn’t the end of the world. Bad credit car loans exist and these tips can help you.

Pay Your Car Loans off Quickly

No one wants to be stuck with his or her car loan forever. As happy as you are with your new car, that doesn’t mean you’re ready to be saddled with a car payment for too long. Most people want to finish their car loan as quickly as possible. So, how do you pay off car loans quickly? Well, we have a few tips that might help you out.

Extra Payments

Extra payments will obviously cut some time off your car loan. For some, this may be as simple as one to two extra payments a year. You can even split the payments up throughout the year to add up to a full one.

Bimonthly Payments

Some people decide to pay their car payment once every two weeks. This may allow them to pay more than their regular monthly payment. Keep in mind that if you do go this route, you should make sure that your lender doesn’t have any problem with you splitting the payment. Some lenders may charge you an extra fee.

Rounded up Payments

There are a couple of benefits to rounding up your monthly payment to the nearest 50 or 100 dollars. The first benefit is that you can pay off your car loan faster. In the beginning, it may not look like much, but after a while, the payments will add up. The second is that your budget will be easier to keep track of. It is easier to add your car payment to your list of obligations when it’s a round number.

If you’re worried about your car loan taking too long to pay off, there are a few different steps you can take to finish your payments sooner than expected. The quicker you pay it off, the less interest that you’ll pay in the long run. This way you can save money and time.

Bad Credit Does Not Have to Be a Roadblock When Buying a New Car

Unfortunately, traveling on the highway of life is not always a smooth ride. A divorce, a job loss or another situation may leave you with bad credit. Your current car may be costing you a lot of money in repairs. While you desperately need a new car, you believe this is impossible due to your poor credit score. We have a reputation of helping people buy new cars by offering them bad credit car loans. Even with a low credit score, there is a good chance you will qualify. We offer loans for people in many different financial situations such as bad credit, no credit and bankruptcies.

Before applying for a car loan, it’s a good idea to do some legwork to see where you stand financially. Order a copy of your personal credit report; you are entitled to one copy of your credit report per year from each of the major credit reporting companies. Receiving your actual credit score will cost money, but this information is essential in finding your credit tier. You might discover that your credit score is not as low as you once thought.

We work hard to make sure you receive the best interest rate. To give it to you, we will need your financial earnings and information about your current employment. It is helpful if you can bring a copy of a recent pay stub to the dealership.

Our financial team members are here to help you. Many of them have years of experience assisting people with bad credit. Our website is a warehouse of information regarding financing and bad credit car loans; however, if you can’t find the information you need, please call us. We are here to help. While you may be stressed by your current financial situation, it shouldn’t be a roadblock to buying a new car. We are determined to help you drive back on to your life’s highway with a set of wheels that will give you many years of smooth driving.

Why Choose BC Auto Credit?

If you are in the car buying market, then chances are good that you are looking for ways to save money when you buy your car – and get the best possible financial arrangement on the car. Our car loan program is designed to make it easy for you to buy the right car for your needs – no matter what your budget is. Through our car loan program, you can not only get the best interest rates possible for your car loan, but you won’t be denied a car loan for reasons based on your credit.

Here are a few reasons that we think you’ll enjoy getting your car loan from our lenders:

We’re on-site

One of the best reasons to get your car loan from our lenders is that we are on-site. We are located right at the dealership so that you can visit with our lenders and then take a walk through the lot in order to find the right car for your budget based on your meeting with the lenders. The dealer and lender also work together in order to ensure that the car that you buy not only suits your lifestyle, but that it also suits your overall needs.

We don’t turn anyone away because of bad credit

Many of our customers have bad credit and are concerned that they may not qualify for a car loan in the Burnaby area. Luckily, thanks to the strength of our lending program, we don’t deny a car loan to anyone based solely on their credit. We offer bad credit car loans, no credit car loans, and, of course, good credit car loans. The major differences between these loans is that with the bad credit car loans, you may have to pay more for your car loan and qualify for a higher interest rate than a borrower with perfect credit. However, we can still ensure that you will get a car loan at a rate that you can afford for as long as you need it. And – the car that you buy from us with the car loan will be safe and reliable for years to come.