Vancouver Bad Credit Car Loans

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Bad Credit Car Loans in Vancouver, BC

There are programs that exist for Poor Credit Financing for almost all types of situations in Vancouver including:

  • First Time Buyers with no credit
  • Car Loans after a Bankruptcy
  • Financing while paying for Divorce alimony
  • Getting a Car Loan after a repossession
  • Getting approved while in a consumer proposal
  • R9’s or R7’s blocking your loan

Click the button below and fill out the form so we can resolve this for you.

 

Vancouver Car Finance For Bad Credit

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Vancouver Car Finance FAQ

Vancouver Car Finance
QUESTIONS ANSWERED...


Is it better to Buy or Lease a Vehicle

Answer...

Advantages of Leasing

Reduced Monthly Payments

When you lease a vehicle one of the big benefits are reduced monthly payments. Lease payments are much lower when compared to monthly loan payments. This is due to the fact that you are not fully buying the car. If you contracted to lease a $19K car for 5 years you would still owe approximately $8K as the cost of buying it out. Another good thing about a lease is minimal initial payment.

Only One Advanced Lease Payment

Leasing companies for the most part only require one up front lease installment and that can make a big difference when you are in a bind. Loans, comparatively, for bruised credit are frequently at a higher rate of interest and require a high down payment. If you are able to provide a 20% down payment, you can ask your lender to lower your rate. The best part about a loan is that you will actually own the car at term end.

Get a Problem Free Vehicle

Want a maintenance free vehicle – get a lease. Get a brand new car after every term. When your lease contract ends, you can just return the car or re-do your contract lease with the leasing company and request a different car. You can get a car with the latest features without paying as much.

Attributed to: https://guaranteedautoloans.ca/buy-or-lease-a-vehicle-which-is-better/

Advantages of Buying

You can own it and sell it to get some money back and you don't have to keep paying monthly fees forever.


Can I repair my credit by buying a car?

Answer...

Yes and No.

Some car dealerships offer in-house financing which is not reported to the credit bureau. In that case your credit rating will not change.

You need to get a loan from a reputable lending institution. It does not have to be a bank. Make sure you ask them if they report your payments to the credit bureau.  If you are paying a loan at a high interest rate you can often sell your vehicle at the end of a year and trade it in for a newer one at a lower interest rate.  You can keep doing this until you are back to prime rate with good credit.

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Get Vancouver Bad Credit Car Loan TIPS...

Clint Says

Good Bad and Ugly Credit

Those with poor credit won’t be able to get standard bank loan; instead they will get a subprime loan. Subprime lenders will take a risk by charging a higher interest rate.  Percentage rates may vary widely from lender to lender as they are competing with each other.

What the borrower has to do in this situation is get the lowest rate you can despite his or her low credit score. The best move to accomplish this is to use a pro who knows the ins and outs of the game.  If you apply here for a loan we will get you a professional with 26 years of experience.  Our pro has rates of all the finance companys in his database. He can source out the best rate possible for your credit situation. Reducing the interest rate on a loan by 1 or 2 percent makes a huge difference on the payment amount for long term loans especially when they are over $20,000.

If the borrower has his back against the wall with no choice but to get a high interest loan they can be put into the “Credit Rebuilder Program” specifically desinged to fix credit back to prime over a 3 year period.  It is not unusual to get someone with 2 bankruptcy’s paying some ridiculous high rate of 30% down to 15% after a year and then down to 10% the following year and then whatever the going prime rate is in the third year. Each step is tracked in the process of getting them back to normal by diligently following the program.

Ready to Get Help?

CONTACT Vancouver Car Loans

Vancouver Car Loans

3680 East 2nd Ave.
Vancouver BC V5M3Y7

E: [email protected]
P: (604) 265-6651

Bad Credit Car Loans in Vancouver, BC

There are programs that exist for Poor Credit Financing for almost all types of situations in Vancouver including:

  • First Time Buyers with no credit
  • Car Loans after a Bankruptcy
  • Financing while paying for Divorce alimony
  • Getting a Car Loan after a repossession
  • Getting approved while in a consumer proposal
  • R9’s or R7’s blocking your loan

Click the button below and fill out the form so we can resolve this for you.

 

Vancouver poor credit car loans

Vancouver Car Loans
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