What is the Best Way to Finance a Car with Bad Credit?

You’ve made a few financial errors, and your credit may not be as sparkly as you would hope. You are not the only one, millions of Canadians fall victim to bad credit each year. In fact as many as 1 in 6 Canadians will file for bankruptcy as some point during their lives.

Unfortunately, too many families feel restricted by bad credit, no credit, or bankruptcy and they don’t know the options that are available to them to finance a great vehicle. Bad credit shouldn’t hold you back from purchasing the safe, dependable car that is right for you. In fact, making a car purchase can be a positive way to rebuild your credit and launch you into better financial health than before. Once you secure financing approval you can search for the exact car that you want and find a dealership that is close to home. 

Securing Approval

We have a network of lenders and dealers across 8 provinces in Canada, and can help you find the right car to suit your taste. We’ll find you a car loan in the area where you live. New Car Canada has a 93% approval rate for auto loans in [cf_geo return=”state” default=”Your State”]. Click to see your options.

There are loans available for those with:

• Bad credit
• No credit
• Damaged credit
• Bankruptcy
• Consumer proposal

Regardless of your credit history, you can be approved for an auto loan and find a reputable dealer to purchase your vehicle from. In fact, within 24 hours you can be approved for financing for your vehicle. Once you have all of your financing complete, make your car payments every month and enjoy the freedom of a great car on the open road! To apply for the car of your choice, click here.

Pick The Car You Want!

There are many makes and models of cars, trucks, SUVs and vans to choose from, so how will you know which option is the best for you and your family? Take time to do research on safety ratings, features, interior and exterior styles that best match your needs. Make a list of features that are “must-haves” for you. Also consider where and how the car will be driven. Will you be commuting long distances or driving around town to take the kids to activities? Gas mileage, maintenance and insurance costs are all important considerations to make when shopping for the right vehicle-  as any of the variable could add a increased cost atop what you plan to pay on your monthly car loan. You can even strengthen your credit by making regular, on-time car payments.

Whether to purchase a new or used vehicle is a big question on many buyers’ minds. There are pros and cons to both types of vehicles. A new car comes with the peace of mind that all parts are in factory condition, have virtually no mileage and are covered entirely under warranty. New cars also often come with manufacturer rebates or special promotional offers that can help discount the cost of the purchase. A new car also has a depreciation factor that decreases the value of the car, despite what you are paying for it, as soon as you drive off of the lot. Always test drive the cars that you are considering to have a better idea of what you like and dislike about a vehicle, you may be surprised by your conclusions!

Used cars can be more economical which is great for a budget-conscious buyer, and can be just as safe and reliable as a new car. Shopping for a used car may take a little bit more research to learn about a car’s accident history, possible liens, mechanical and electrical stability, and the condition of the parts both internally and externally. Test drive a used car for a longer length of time and pay attention to any sounds that you hear or movements that you feel while you drive.

Also take time to consider your budget. While luxury cars are nice, they come with an equally nice pricetag. For many people, a practical vehicle takes value over a brand new luxury model with every set of features available. For others, a luxury-brand automobile is a household staple. Whichever vehicle you decide on, it is smart to pick a car that is priced within what your monthly budget will allow. You can use a free online calculator to help you figure out your budget.

If you need a safe, reliable car to take the kids to school or drive to and from work, we can help. You can apply to finance a car up to $55,000 in [cf_geo return=”state” default=”Your State”]!

Finance Your New Ride

To finance your car you need to lay some groundwork to apply for loan options. Firstly, research your credit history and credit score so that there are no surprises when you receive your financing options. Secondly, you need to clean up any old lines of credit or mistakes on your credit history. Once your credit history has been taken care of, you can begin to look at financing options. You will need to know what type of car you want. New Car Canada will connect you to lenders and dealerships that have the car that you want available for purchase right now. Once you are approved you can test drive the car, sign the paperwork and drive off the lot in the same day! You don’t even need to pay a down payment to purchase the car that you want! Car buying, even with bad credit or no credit, can be a simple process. Click to see financing options on the car that you want in [cf_geo return=”state” default=”Your State”].

Buyers can be approved for loans in as little as 24 hours by meeting three qualifications.

1. Possess a valid driver’s license
2. Are able to be insured
3. Make at least $1,800 a month

Best of all, there is no charge to use our car loan service to find your next vehicle! Don’t delay on realizing your dreams of owning the car you want due to poor credit. You can finance the car you want and drive your dream car into your garage in a few simple steps. Click here to start the process.

We provide free service in 8 provinces, Ontario, Nova Scotia, New Brunswick, PEI, New Foundland, Manitoba, Saskatchewan, and British Columbia. We service everyone from Toronto, Ottawa, London, Hamilton, Mississauga, North Bay, Thunder Bay, Sudbury, Sault Ste. Marie, Barrie, Oshawa, Brampton, Kitchener, St. Catharine’s, Niagara Falls, Belleville, Windsor, Bracebridge, Gravenhurst, Collingwood, Orillia, Peterborough, Nepean, Cornwall, Kingston, St. Johns, Saint. John, Moncton, Winnipeg, Brandon, Red Deer, Calgary, Edmonton, Saskatoon, Regina, Kamloops, Victoria, Surrey, Kelowna, Vernon, Prince George, Nanaimo, Fort McMurray, Banff, Moose Jaw, Prince Albert, Swift Current and the rest of Canada. Our dealer network is one of the largest in Canada and always provides free finance to own quotes.