Bad Credit

If you’ve purchased a new or used car, and you have bad credit, chances are that you’re paying a pretty high interest rate. Depending on your credit score, you may have an APR of 15-25% – which will result in you paying much more than the value of your vehicle in the long run. What’s…

If you’re trying to buy a car with bad credit, there are two primary types of loan available to you – fixed rate loans, and variable rate loans. When you get a fixed rate loan, the lender gives you the money with a set interest rate – 6%, for example. This number is used to…

Getting pre-approved for an auto loan is a very good idea, whether you’re shopping for a new car or a used vehicle. Pre-approval is just what it sounds like. You go to a bank or credit union, inform them about the details of your total budget and desired loan amount. Then, they look at your…

It has been estimated that around 23% of Canadians have average or below-average credit. Around 2% of Canadians have “bad credit”, defined as a score below 520. Bad credit is a fact of life for many Canadians – and it can cause quite a few problems for you. Canadians with bad credit often struggle to…

When you’ve got bad credit, the often-complex process of purchasing a used car becomes even more difficult. You may have a hard time getting pre-approved for an auto loan, getting good deals on vehicles, and you may even be turned away from some dealerships – just because your credit score is not up to par.…

If your credit isn’t so fantastic, then you might be thinking that buying a used car is an impossible thing to do. The good news is that although your credit rating does have an impact on your ability to finance a car, cleaning it up isn’t as tough as you might think. If you make…

If you find yourself stuck in a bad credit auto loan paying too much interest or having too much time left to pay, you may want to look into getting the loan refinanced. Here, we’ll look at how the process works and whether or not you should consider it. The Benefits of Refinancing On paper,…

It may seem like a double whammy to get hit with high interest rates because of your bad credit. It’s hard to get back on your feet when it seems like everything is stacked against you. But, if you’re savvy, you’ll take the steps needed to limit the amount of extra money you’ll pay just…

Buying a car is hard enough, but it can be an even more stressful experience if you have bad credit. Here’s what you can expect so you can see them coming and plan ahead accordingly. The Dealership May Not Try Hard Enough Some dealerships just don’t have the right connections to get you a good…

You can take some action to give your credit a boost, without having to hire a service to do it, or worry about the legality of it. These tried and true steps will put you on the path to better credit, just give it some time. #1: Make On-Time Payments The surest way to improve…