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…
If you’re interested in buying a used or a new car, you’ll need a good credit score in order to get a great deal on your loan. But if you don’t know your credit score – or if you have a bad credit score – you may end up paying quite a bit more for…
If you haven’t already heard, Uber is making its way to Canada. Hugely popular in the United States, Uber is an app that allows people to turn their car into a new career by transporting people who are looking for a ride from point A to point B. If you are considering either making it…
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…
Buying a used car in Canada can be a difficult proposition, especially if you have bad credit. There’s a lot to know and a lot to think about – and when it comes time to “sign on the dotted line” and purchase your car, you may not even know how your used car dealer figured…
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…
A car repossession is a horrible thing – and we don’t want anybody to go through it. But it happens. Sometimes, Canadians buy cars that they can’t afford, or circumstances are such that they simply can’t make their car payments. When this happens, loan companies and auto dealers will repossess your vehicle – and if…
Bad credit is a fact of life for some Canadians. Whether it’s because of high credit card bills, issues like bankruptcy or foreclosure, or even previous car repossessions, many Canadians are living with bad credit scores. Around 23% of Canadians have an average or sub-par credit score. Unfortunately, bad credit and debt are vicious cycles.…
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.…
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