Suprime Car Loans Burnaby – FAQs
Vehicle Financing and Subprime Car Loans – Frequently Asked Questions!
Car Loans Explained | Loan Qualification | Rebuilding Credit | Glossary of Terms | Credit Application – APPLY NOW!
Questions? Great! Below are some of the common questions we are asked by our customers. If you have a specific question or would like 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
Is it possible to receive a car loan with bad credit?
- Unsurprisingly, this is a common question and something which is largely misinterpreted in general. While many financial institutions will heavily scrutinize the history of your credit and penalize you for whatever they find, the prospect of getting a car loan with BC Auto Loans can be significantly more favourable.
- Simply put, financial institutions need to do business, and with such a large proportion of the population having bad credit, this provides a very large target market for the loan provider. In fact, recent studies showed that more than one-third of the population in Canada is considered to have less than favourable credit.
How do I check my credit rating?
- Believe it or not, mistakes do happen, and your bad credit rating is always susceptible to human error. Before applying for a car loan, it’s often worth researching the details within your credit history to ensure there are no inaccuracies involved. Remember that every inaccuracy will contribute to the extent of your bad credit and one example of human error can be the difference between loan approval and disappointment.
How to calculate a realistic repayment structure?
- Arriving at a meeting having done no research or planning will have one result – failure! At Car BC Auto Loans in Burnaby will provide our customers with a clear understanding of all obligations and requirements for car loan payments – going forward. Several online car loan calculators will help you work out the amount and number of payments required to repay a loan over a specified period. Write down these amounts and show your chosen provider that you are fully aware of the repayment structure.
Choosing an institution or car dealership for a car loan
- Reputable car dealerships are just as trustworthy or reliable as a financial institution, but the one you decide upon will often come down to which one offers the most suitable requirements. As already mentioned, getting a car loan with bad credit is often possible, but both of these providers will want some proof or evidence that you will keep up with the recurring payments set out in the agreement.
The best approach for customers with less than favourable credit?
- With all of the above in mind, the best way to approach a car loan with any provider is to act with honesty, transparency and good faith. BC Auto Loans works closely with all our client’s to ensure they receive the vehicle they want… the vehicle they deserve (at a price which is most economical to our customers).
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!