At BC Auto Credit, we know that things can happen that are out of your control. It is difficult to stay ahead 100% of the time, particularly when it comes to finances. We know situations can arise that may prevent you from paying your bills on time, or in full, which can unfortunately be detrimental to your credit score, in turn making it challenging to obtain a car loan. Here are some tips for getting a car loan with bad credit:
When looking to get a car loan with bad credit, it is important that you understand your current situation. It is a good idea to run your credit report to see how it would look to a lender. If you have any outstanding items, take action to pay these off as soon as you can. While having outstanding collections or bills does not necessarily mean you won't get approved, you do not want to encounter more difficulties by taking on another loan you are unable to pay.
When you visit our BC Auto Credit, it is important to bring along relevant documentation 1) to establish your identity and prove that you are making an income, and 2) to confirm that you have a history of making monthly payments on time. Some documents you should have prepared before visiting us include proof of income (ie. You most recent paystub), utility bills (if applicable), your drivers license and contact information for personal references. If you have completed a consumer proposal or been recently discharged from a bankruptcy, it is important to provide documentation.
