Collections? You Can Still Get A Car Loan

There are certain situations that can adversely affect your credit score and impact your ability to get a new loan for a car or a house.  Missing payments, having a lot of debt, repossessions, and going into collections for your debt are some of the major factors that can decrease your credit score.  Have you gone to collections?  You can still get help with your car financing in Ottawa.  There are loan companies that  specialize in granting loans to people with poor credit scores or even no credit score.

One of the ways to improve your credit score is to get a car financed and then make your monthly payments on time every month until your car is paid off.  Paying your bills on time comprises about 30-35% of a person’s credit score.  This is a great way to improve your credit history and show that you have a proven track record of paying your bills on time.  Improving your credit score in this way may help you get a better interest rate and a lower monthly payment on loans that you apply for in the future.

If you have a collection impacting your credit score, many banks or car dealerships will not give you auto financing.  That’s where loan companies that deal with low or no credit scores come in.  They will often be able to work with you and make sure you are getting the right kind of loan that works for you.

In conclusion, even with poor credit resulting from a collection or missed monthly payments, you may still be able to get a car loan in Peterborough.  Contact a well-reviewed loan company that specializes in granting loans to people with poor or no credit.  This can be the first step to improving your credit score and eventually paying off your new car.  Think of getting a car loan as the first step to rehabilitating your credit score.  Remember, even if you have gone to collections, we can still help with your car loan in Ottawa.

Trading In Your Old Vehicle

When it comes to cars, the newer models always seem to be appealing.  Whether you like cars or just need to upgrade your current vehicle, getting the best possible trade on your vehicle is important.  There are steps you can take in order to get the highest value for your trade in vehicle.  Your current vehicle may be in fairly good condition yet you want to be sure you get a high amount towards a new one.  If your current vehicle is in less than good condition, you will still want to put in a little bit of work to ensure you can trade up for a better vehicle.

Before taking your vehicle to a car dealership, do your own research.  Be objective about the condition of the car.  There are some things you cannot change such as the age and age of the car but there are things you do so you can be getting the best possible trade on your vehicle.  If your car is a certain age or has high mileage, you can’t change that but you can do things to improve the overall condition of the car.  Some simple things to do would include a professional waxing and buffing of the exterior to eliminate any scratches and sometimes the dents can be fixed.  Another simple fix is to replace burnt out lights throughout the interior and exterior of the car.  Replacing broken glass whether it is the mirrors, windows, or in the dashboard of the car.

The interior of the car should be clean.  Sometimes our vehicles will have stains, odors, and even rips in the interior that are simple to fix and should be if you are interested in getting the best possible trade on your vehicle. While these may seem simple and only cosmetic, they can go a long way when asking a dealership or private buyer to purchase your car.  If they notice these surface issues are taken care of and the car is running just fine, the age and mileage will not have such a negative impact.

If you are shopping for a quality used car in Ottawa, Loan Doctor has you covered. We offer a huge selection of great used cars and trucks, along with car financing in Ottawa to fit your lifestyle and your budget. Visit us today at

Used Trucks From Loan Doctor

Are you in the market for a used truck, but don’t know where to begin your search? Come on down to take a look at the amazing used trucks that we currently have on our lot. We’re happy to help you find the right used truck for your needs – and can help to ensure that your used truck will last for years to come.

Here are a few of the top reasons why we recommend buying your used truck from us:

Huge selection

There are many different types of used trucks that are available on the market and each of these used trucks comes with special features and capabilities. Some of our used trucks are capable of hauling large items, such as boats or trailers. Other used trucks are designed to carry all of your friends. In order to find the right used truck for your needs, it’s important that you have a huge selection to choose from.


Whenever you buy a used truck, it is important that you can rely on the used truck to be safe and durable for years to come. We thoroughly inspect each used truck in our inventory before putting it on our lot to help ensure that the used trucks that we sell are going to provide our customers with that reliability and longevity. Make sure that you always buy a used truck only after it has been inspected so that you know you can depend on the used truck to last.


While we are confident that every used truck we sell will be reliable and last for years to come, we are always aware that something unexpected could happen to the used truck. For that reason, we make sure that every customer has a warranty for the used truck that they buy from us. This warranty helps our customers have peace of mind that we will help to fix the problems that befall the used truck at no cost to the customer. Many issues are covered by the warranty, but be sure to ask us about details and options.

Contact us today to learn more about our fantastic line-up of used trucks. If you are looking for auto loans in Ottawa, Loan Doctor offers car financing, even no credit or bad credit car loans in Ottawa. Visit us today at

How Credit Impacts Car Loans

Credit is one of the most important considerations that lenders will have to take into consideration when they offer car loans to buyers. Credit is something that everyone has  – and has to learn to manage. There’s no way around it; your credit will impact your car loan rate and amount.

Here is some more information about credit and about how it impacts your car loan in Ottawa:

Credit is a story

Credit is like a story – telling lenders more about how you have behaved from a financial perspective. By reading this story, lenders will get a better idea of what your lifestyle is like, what your financial approach has been, and maybe a little bit more about your personal characteristics. Whenever possible, it’s important to make sure that the story stays positive. To make sure the story stays positive, buyers should always keep their debts low, repay their loans on time and in full, and be as stable as possible in all aspects of their lives (including their jobs and living environments).

A good story gets rewarded

If you are able to write a good credit history – or story – then you will be rewarded by having better financial opportunities from lenders. If you have good credit, you will likely qualify for a higher loan amount and lower interest rate on that loan. On the contrary, if you have bad credit, you may have to work with a lower loan amount and a higher interest rate.

The story can change

Your credit can go from good to bad or bad to good with just a few decisions. Therefore, it’s important that you have a wealth of information in front of you so that you can make wise decisions. For example, if you want to improve your credit, then getting car financing in Ottawa may help. You will repay the car loan, which will show lenders that you are able to be financial responsible when a huge financial commitment is involved. However, if you fail to repay the car loan, your good credit could just as easily go bad.

The story never disappears

While the credit history story may change and go through peaks and valleys, it never disappears. This is another reason for why it’s important to develop a history of making the best possible and most positive financial decisions.

Contact us today   for more information about credit – or to learn about how to get a car loan regardless of your current credit situation, we can get you approved for your bad credit car loan in Ottawa today