Rebuilding Your Credit With A Car Loan
Did you know the fastest and most efficient way to improve your relationship with future lenders is to rebuild your credit with a car loan?
It’s worth noting that checking your credit is an easy process and free of charge. The two major credit reporting agencies in Canada are Equifax Canada and the TransUnion of Canada. We work closely with our all our customers to provide the education and financial resources which have proven to be beneficial when isolating the reasoning behind their current credit score.
In many cases, potential borrowers can feel overwhelmed by their current situation to the point where they fail to realize any opportunities to turn it around. That is to say; our customers are often surprised just how easy and quick it can be to reverse a bad financial history.
We educate all our customers based off the information received from their credit history reports and provide individual guidance and a course of action for an overall strategy of credit improvement:
- Late payments and missed payments
- Debt utilization ratios
- Reporting errors and fraudulent activity
- Payment catch up
- Paying down debt
- Practicing favourable financial habits
As with any loan application, your credit score will play an integral role with regards to the amount of loan on offer, but just as importantly, you should never take out a loan which you may have any trouble to repay. Either way, the amount and type of loan you acquire will determine the success of your strategy. Our trained credit specialists work alongside numerous financial institutions to provide you with the most favourable terms and re-payment options – best suited to your circumstances!
Managing car loan repayments
When you first opt for a car subprime loan, it is often the case that you need to accept some often-stern terms and quite a high rate of interests. At BC Auto Loans we make sure all vehicle loan repayments are very manageable for our customers.
It’s important to remember that with car loan repayments – they must be paid on time each time …every time! Having a proven track record is essential for future loans and being on time with repayments is proven to be of benefit when it comes rebuilding credit with a car loan. Even paying your monthly payments on time every month can often help to get your interest rate lowered after just 10 months …or less!
While it can take some time to build your rating back up, it should also be clear that rebuilding credit with a car loan is certainly one of the easiest and fastest way to achieve the desired outcome.
We’re committed to help you drive the vehicle you want, the vehicle you deserve!
Our trained credit specialists work alongside numerous financial institutions to provide you with the most favourable terms and re-payment options – best suited to your circumstances! Learn more about our Fast Approvals and 99% Acceptance Rates (no matter your current credit status!) or complete our quick and easy credit application today!
Questions? Great! We’ve got answers! To learn more about our ‘easy car loan application process’ and ‘tailored credit services’ (including our credit rebuilding program), please call us directly to speak with one of our friendly, credit specialists (no obligation) at: (604) 670-9247