Bad Credit Car Loans up to $30,000 with %95 Approval

Bad Credit Car Loans up to $30,000 with %95 Approval
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Your vehicle projects who you really are; the way its headlights glare on the dark roads, the way its tires zoom on the pavement and the way its engine purrs. All of this has a story to tell. Your car will be one of the biggest investments in your life, perhaps outdone only by your home. If you like a particular vehicle and want to buy it, but it happens to be outside your anticipated budget range, you can follow your dream by utilizing the right type of car loan. Fill out the form below to begin your application for a car loan in Canada.

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There are several factors which generally influence the car loan rates in Canada such as:

  • Your credit score
  • Your available down payment
  • The condition of the car
  • The loan’s term length
  • Your loan-to-income ratio

Different Types of Car Loans in Canada

Lenders provide multiple financing options that borrowers can choose from in order to access loans which meet their individual financial requirements. Many of these vehicle loans have the added advantage of being customer-friendly; the rates might be fixed, but you get to choose from a number of choices. Car loan rates in Canada are calculated differently, according to what services and features you need. Also, you can opt for a fixed interest rate if you are sure rates are going up, or a variable interest rate if you think you may be able to take advantage of lower interest rates in the near future. Also, the terms of car loans are not all the same. Do you want to pay by the week or by the month? Do you want to have the option to pay the entire amount at any time in the future if you get the money? The choice is all yours.

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Varying Loan Package Options

Car loan rates in Canada are quite affordable right now, but may be rising in the future. Interest rates now are low, with most loans remaining under ten percent. Many car loan rates are running between six and eight percent. This isn’t the only upside. Lenders that are in the business of providing car loans in Canada may also formulate a payment plan extending over many years. For instance, you may come across a convenient plan that spans over as long as eight years, allowing you to pay off the total amount by the time the ninety-sixth month draws to a close. In other words, you do not have to complete unnecessary brain storming and creative financing to find a loan that fits your needs – the calculations will all be done for you.

It is important to carry out an adequate web research in order to determine the most affordable car loan rates in Canada. The internet contains many data and comparison tools for these loans and it is possible to find one which is perfect for you with only a click of the mouse. There are many different lenders out there, so it is crucial that you compare each of the different offers carefully.

Finding a bad credit car loan can be difficult depending upon the method you choose: secured or unsecured. Secured bad credit car loans are much easier to look for than bad credit unsecured car loans for a number of reasons:

Secured Bad Credit Car Loan:

  • Lower interest rate
  • Lower down payment required
  • Loan amount depend upon the collateral
  • More flexible options (i.e. fraud protection, etc.)
  • Easier to find

Unsecured Bad Credit Car Loan:

  • Higher interest rate
  • Higher down payment
  • Lower risk for the borrower
  • Hard to find

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Bad Credit?

Auto financing can be bit of a headache for anyone with poor credit. Like with all other forms of financing, poor credit can shut many doors in your search to access credit from traditional financiers. With a poor score, lenders will generally view you as an unsafe consumer who is likely to default on your payment obligations based on your past record.
Your score and credit history are readily available to lenders and are provided by a number of different credit rating bureaus in Canada, with TransUnion and Equifax being the two largest.
All is not lost if you have a low credit rating, however, as there is a niche of lenders who specialize in providing bad credit car loans in Canada for consumers with poor credit. The doors may not be totally shut for people who have been struggling with their finances and would like to access good quality and affordable auto financing options. This sounds good in theory, but what do bad credit car loans in Canada really entail?

What Exactly Are Bad Credit Car Loans?

It is important to take comfort in the fact this is a boutique auto financing option that is designed just for consumers in your position, so you should not shy away from approaching these niche lenders with your financial requests. Even with a very poor credit rating, you can be guaranteed instant approval for your car loans at some of the most affordable interest rates in the marketplace.
The rates might be slightly higher than the prevailing market rates provided by traditional lenders due to the risk involved but with adequate market research you will find bad credit car loans in Canada that are very affordable. Many of the bad credit car loan providers have strong associations with multiple automotive dealerships in the different provinces and can easily assist you in finding the car that you want which fits your individual budget. There are also other benefits of contacting these lenders, including the fact that it is also possible to find rebates and great discount offers by purchasing your car using these financing channels.

Securing Bad Credit Car loans in Canada

It is important to carry out adequate online research to secure the best bad credit car loans in Canada from providers before you schedule a meeting with a traditional lender to discuss your situation. With the fast growth of the internet in the last few years, this is a process that you can easily accomplish online. Many providers offer a very user-friendly application interface which you can take advantage of to have your loan requests processed in real time. Most of the more reputable providers of the bad credit loans in Canada will be interested in not just getting you a suitable vehicle loan, but also offering you tips and advice which can help you repair your poor credit score. This benefits the lender, because it helps make you more financially responsible and likely to repay your loan.
Purchasing a car with bad credit car loans in Canada may just be the opportunity that you need in order to secure a more solid financial footing. Providers can, for example, assist you in this process by contacting the credit rating agencies each time you make timely monthly payments. This can significantly boost your credit score over time. Get your dream car while repairing your credit score by using bad credit car loans in Canada.

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  1. I am hoping you can help me out.

  2. Hi Amanda, What is your question? How can we help? Miriam

  3. I am hoping your company can help. Do you do secured loans on a private sale vehicle?

  4. Hi Amy,
    Thanks for your question – it’s a great one! Bad Credit Loans doesn’t provide loans directly but we help you get connected to lenders that do. I would recommend that you go through the application process on this page of our site – http://www.bad-credit-loans.ca/car-loans/. One of our lenders will take it from there.

    Good luck & all the best to you, Miriam :)

  5. I filed bankruptcy in 2010 and since I was able to get 2 credit cards, financing in private companies such as MDG and Dell. I also bought a car with a second chance loan. I now have a very good job and would like to buy a second handed ATV and I am looking to borrow about 2500-3000$. Any possibilities?

  6. Hi Remi

    Have you tried one of our loan providers through the links on our website? I’m sure one of them can assist you.

  7. Hi I’m thinking of importing a car and would like to know if I can get a loan for that?

  8. Miriam Berman May 22, 2014, 7:56 pm

    Hi Mike,

    Would the purpose of the loan be to pay for the actual importation of the vehicle? Let us know a bit more details so I can understand who may be able to assist you.
    Thanks Miriam

  9. Hello, I’m looking for a 6000$ loan to replace my blown engine any possibilities you can help me with?

  10. Miriam Berman May 28, 2014, 4:46 am

    Hi Dylann
    Thanks for your message.I advise you to look at http://www.bad-credit-loans.ca/loans/ and click on the personal loans link to get assistance.
    Thanks Miriam

  11. Do you only do car loans

  12. Hi Andy. We also help with debt consolidation – see here http://www.bad-credit-loans.ca/loans/

  13. Hello. I am looking for a 9000$ loan to purchase a vehicle from the US. Since the car is in the states I would have to pay cash. Is this something your company offers ?
    Due to a consumer proposal which I finished paying in May, RBC refused to lend me the funds and suggested I wait another year.

    Thanks in advance,
    Mike

  14. Hi

    You could try to apply for a loan for this by visiting – http://www.bad-credit-loans.ca/car-loans/. I do not know if they will approve the loan & if purchasing the vehicle from the US will be an issue but it’s worth a try.
    Good luck, Miriam

  15. Thanks for sharing your info. I really appreciate your efforts
    and I will be waiting for your further post thanks once again.

  16. I am looking for an auto loan. I used to have good credit, I was approved for a mortgage and everything, until my ex girlfriend got a hold of my credit card. I have found a car that I am really interested in, but there’s no way I could afford it without a loan. I am very picky with what I drive. I won’t buy just any vehicle. This car in particular, is a 1995 Mustang GT, converted to a Cobra. It is an american car, but it’s in Ontario, Canada. With only 50,000 KMS, there’s not a spot of rust on this car. It’s all been redone, and is in mint condition. It’s basically a brand new car. If there is anything you could do to help me out that would be greatly appreciated. I look forward to hearing from you.

  17. Hi,
    If you visit our car loans page – https://www.bad-credit-loans.ca/car-loans/ – there are a number of links there that you lead to car loan providers. They may be able to assist you. Even if your credit has been used your credit rating is assessed on your payment history & any missed payments. I would also suggest finding out your credit score by contacting TransUnion and/or Equifax Canada. I hope that helps, Miriam

  18. Can I choose a car from a dealership of my choice?

  19. Hi

    You should be able to as the car loan will be released to you and then you will use those funds to apply to the car at the dealership. I hope that clarifies, Miriam

  20. Hi i just left my company i worked for a year with and i am currently in consumer proposal. i am wondering if i can be able to get a car loan and whats the worst interest rate i can get as per my current situation. thanks

  21. Hi Raymond,

    Thanks for getting in touch. You can share your current credit situation with one of our car loan lenders. Please visit – https://www.bad-credit-loans.ca/car-loans/ – and click on “Apply Now”. From there, a car loan lender can get a feel for your situation & advise you what they can offer you with regards to interest rates. Good luck, Miriam

  22. i am looking for a personal loan of $5000 with a repayment plan of $500 bi-weekly. i purchased a car and needs some work to be safe and road worthy. i have a full time job and have been with this company for a year now. i do have one thing on my credit report and it already has been setup to pay off a settlement amount next week. but i was told that it will take upto 3 months for it to be cleared and nobody will give me a loan until this is off the credit report. hoping somebody here can help me without having to wait the 3 months.

  23. Hi

    I’m sure that you can find something as it seems like you have all of your ducks in a row. You can look at this blog page – https://www.bad-credit-loans.ca/find-personal-loan-option/. There are a few personal loan providers listed here that may be able to help. You will need to apply online but someone will get in touch with you to discuss your personal situation. I recommend you speak to someone before you give out any details to complete the loan.

    Good luck, Miriam :)

  24. I have bad credit but I would like to get a loan to purchase a motorcycle. Do you do this? Thank you

  25. Hi

    Im looking for a car loan. my credit was poor but all collection accounts were paid off. what is the chance of getting approval? I do make good money.

  26. I had recently in the past couple of weeks purchased a new vehicle financed it through the dealership but did not like the interest rate as they were aware my own bank was giving me a lower rate, so I went through the process and had the loan through the dealership then went to my financial institute and they took over the loan at the lower rate. It was really not much different in the amount but I trust my bank more than I do the dealership. Anyway, I was wondering if you provide low interest rates for vehicles and if it is an option, I guess the term would be refinance, for a lower interest rate with a different bank. Is this something you do, not sure though if I am using the right term

  27. Hi Lorraine,
    From the page you commented on https://www.bad-credit-loans.ca/car-loans/ – I recommend that you contact one of the loan providers who could help you and can provide you with options. Bad Credit Loans helps to link you to our lenders. It sounds like you have fairly good credit since you were approved by the bank & dealer. So, they should be able to assist you.

    Good luck, Miriam

  28. Hi Milton,

    If you have a good source of income that definitely helps. I would recommend applying via an application on the page you commented on – https://www.bad-credit-loans.ca/car-loans/. A lender will contact you once you complete this form and work to help you get the car loan you need.

    Thanks Miriam

  29. Hi Cindy,
    We don’t offer loans directly but provide you with the connection to the lenders who can help. If you go through the application process on – https://www.bad-credit-loans.ca/car-loans/ – you will be put in touch with a lender who will assess your specific situation.
    Good luck, Miriam

  30. Hi
    I was wounding what do u need to get a loan from your guys Im only looking for a small loan 5000-10000 that’s all to get a car.

  31. Hi Nicole

    Thanks for your message. We aren’t the loan provider but the links on our site provide contacts to our lenders. To get a loan you will have to provide general information around employment/income as well as debts. It is similar to any personal loan that you would apply for – our lenders will use different criteria normally that often can help individuals with less than desirable credit.

    I hope that helps, Miriam

  32. I have tried everywhere to get a $1000 loan to fix my engine in my car, no one will help me anywhere & I am now having to walk everywhere with my 10 month old daughter, while my car sits at the shop. I have been to these two sites and no lender will help. I need a loan that I can pay back in a couple years. I am just starting a business & in the meantime is on Ontario Works. Maybe that is why no one will help me. It is the people on Ontario Works that can’t afford if there vehicle breaks down & they need a loan.

  33. Miriam Berman May 13, 2015, 8:02 pm

    Hi Amanda

    I’m really sorry to hear about this – it isn’t nice when you are actively trying to get back on your feet. The Ontario Works program is designed to help you get back on your feet – it shouldn’t work against you if you are looking for a loan so you can work! I know you know this but I want you to understand that I can appreciate how hard this situation must be for you – especially with a baby to look after.

    Have you considered debt consolidation or seeking some advice from a free Canadian debt assistance program? One in particular is http://www.nomoredebts.org/. They may be able to help you get the $1000 loan to fix your car as they may link you to resources that are sponsored by the government. I’m not sure how much you are earning from the Ontario Works program but if you are making money, you could always consider shorter term loans. I would express a word of caution of lending too much from a short-term loan provider if you can’t pay it back right away. Since you’ve stated you need to pay it back in a couple of years that is likely the case. I would also suggest trying the lenders on this page – https://www.bad-credit-loans.ca/find-personal-loan-option/. Hopefully someone can help you.

    Please keep us posted on how things work out, Miriam :)

  34. Hello,

    We are looking for a car loan for my Husband, He has a “fair” credit score and one thing on his report that is in collections but that will be cleared off his report in January, (6 years to not be public record anymore). He is currently working for himself and has been unemployed for the last 3 years aprox …. what can we use as proof of income???? self employed since Aptil 2015

    Thank you

  35. Miriam Berman May 20, 2015, 8:15 pm

    Hi Karon,

    Are you based in Canada? If so you should try to look for a personal loan on our Personal Loans page – http://www.bad-credit-loans.ca/find-personal-loan-option/. On this page, there are a range of links to some of our lenders that can help you.

    Good luck, Miriam

  36. Hi,
    My vehicle is coming to the end of its balloon finance term with a $15K buyout balance which I would like refinance and a black book value of approx. $21K. Unfortunately my income is commission based and circumstances over the past two years have led to a significant reduction that led to my having to file a consumer proposal a few months ago, which has been accepted by creditors. Is there any way that lenders would consider a 15K loan secured by the vehicle based on its value versus the loan amount (ie. 21K vs 15K) given my credit status?

    Thx

  37. Miriam Berman June 9, 2015, 6:13 pm

    Hi Steve

    Thanks for your message. You would need to ask one of our lenders. They will be looking at your income & debts so it depends on your overall debt situation too & your credit rating.

    I would suggest that you visit – http://www.bad-credit-loans.ca/find-personal-loan-option/ – and apply through one of the loan providers on here.

    Thanks,
    Miriam

  38. Hi, I am currently paying off a consumer proposal and I was wondering if I would still be able to qualify for a car loan. Price range would be around $20000.00. My gross monthly income is $5850.00. Been working at the same place for over 8 years.

  39. Hello Jeff,

    Thanks for getting in touch. One of our lenders should be able to help you since you have a consistent amount of income/month. I would suggest contacting one of our car loan providers including Canada Drives. You can apply for a car loan through our website. I would also suggest looking at this page – http://www.bad-credit-loans.ca/cant-get-car-loan-dont-know-turn/ – for some further guidance.

    Good luck, Miriam

  40. At the moment, I also took this loan. So far, everything is fine!

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