Call Us For Expert Automotive Financing

We understand that life happens. If your car has broken down, been stolen, or been involved in an accident, you most likely need to purchase a car very quickly. Unfortunately, you might not be in the best financial situation to do so. Luckily, we are your automotive finance experts and we can get you approved for a car loan no matter your credit. Every day we help people who have bad credit, no credit, or a history or divorce, bankruptcy or repossession. Do not let your past define your future. Call us today to find out how you can be approved for a car loan in Calgary.

 

We are able to offer expert financing options to people in every situation. Our Loan Doctors will work with you to ensure that you are approved and that you get into a car that will fit your needs. We have thousands of car models available, from trucks and SUVs, to minivans, sedans, and luxury models. If you need it, we can find it. All you need to do is fill out our fast and easy application. It only takes a few minutes. Once you are approved, you can begin working with a credit specialist to get you car financing in Red Deer.

 

Our loan doctors will work with you to get you an affordable rate. The last thing we want is to give you a loan that you cannot afford. Our loan doctors want to do everything possible to get you into a vehicle that you love and that you can afford to drive. As you make your payments on time, we may even be able to lower your interest rate. If you have bad credit, this is a great way to begin rebuilding your credit score.

 

Get your normal life back! Partner with us to get a car that suit your needs and a loan that you can afford. We are the place to go for expert car loans in Lethbridge. Give us a call today for more information.

Using Calculated Household Income For Staying Within Your Budget When Buying A Car

Calculate your household budget before you set a price you’re willing to pay for a car. If you don’t, you can end up with too high of repayments on your loan and end up struggling financially, or even defaulting on your car loan in Calgary. This is why staying within your budget is vital.

To calculate your household budget, you first start with your income from work, and then add any other income you receive. You then subtract any and all tax withholdings, insurance and benefit withholdings, and retirement savings plan withholdings to arrive at the amount you take home monthly. If you are an independent contractor or working on a wage system with irregularly scheduled hours, average out your monthly earnings over a six-month period, but be aware if there is great monthly fluctuation in earnings (e.g., some months you bring home $600, some months you bring home $3,800) and try to factor that into your final assessment of what you can reasonably pay for a car monthly.

Then, add together your monthly expenditures on mortgage (or rent) and other predictable payments like homeowner’s insurance, alimony, child support, phone payments, Internet and cable, to your calculated average monthly expenditures on utilities, groceries, and other loan repayments that you have. Subtract this amount from your monthly net income. Then, be realistic about the amount of money you like to spend on entertainment and leisure every month. What’s left is roughly what you can afford to spend on a car payment per month. To be more conservative, cut that amount by ½ and use that lower number as your basis of determining what you can pay month to month on a car. After all, you will need money for gas and mechanical maintenance—as well as life surprises unrelated to your vehicle!

How long do you want to be paying off this car? Average car loans in Lethbridge take around 5 years to pay off, but you may only want to take 3 years, or maybe you really need a vehicle but you can’t afford more than $350/month in repayments. In that case you would need to accept that you could be paying off that vehicle for over 5 years. Setting in your mind how many years you are willing to make vehicle repayments can help you to set a hard and fast limit on how much you will pay for a car: multiply the number of months you are willing to make vehicle repayments by the amount of money you just calculated as an acceptable monthly car payment. That number can serve as the maximum dollar amount that you are willing to spend on your new car, either including or not including interest on the car loan in Southern Alberta. Shop for a vehicle based on your needs and your maximum dollar amount and you will find yourself easily staying within your budget.

Our Car Loan Calculator

One of the most complicated parts of shopping for a new or pre-owned car is figuring out the financing.  Buying a car is no longer a simple matter of writing a check to the dealership.  Today it is customary to apply for a loan in order to purchase the vehicle you’re interested in.  Shoppers have two primary loan options: A bank loan and a car loan in Calgary from the dealer.  A bank loan can be spent at any dealership you wish to purchase a vehicle from; a dealership loan can be applied only to vehicles purchased from that particular dealer.  Aside from this difference, all car loans work very similarly.

You’ll first need to determine how much you want to borrow.  This amount is referred to as the principal.  The amount can be as large or as small as you want it to be; keep in mind that some banks and dealerships cap their loan amounts at a certain level if your credit rating isn’t good enough.  A strong credit rating is also important because it can qualify you for valuable short-time offers, such as a period of lower interest or other perks.

Before you seriously begin shopping for a new car, it’s helpful to get an idea of the current rates for a car loan in Lethbridge.  Banks usually post this information in their branch locations or on their website; because car dealerships also ultimately process their loans through banks, the rate you can expect to pay on a dealership car loan will be very similar.  Once you’ve determined the average interest rate for your area you can Use Our Car Loan Calculator to help figure out how much you’ll be paying each month.  This helpful took will help you anticipate any changes to your budget that will need to be accommodated for.  You can adjust the principal up or down to see how that affects your anticipated loan payment.

You can make the loan processes easier for yourself if you Use Our Car Loan Calculator in Calgary.  If you do, you’ll be more informed about the costs associated with each particular car you’re considering.

 

 

Some Proven Steps to Take in Rebuilding Your Credit

If you have damaged your credit, you know the thought of rebuilding your credit can feel overwhelming.  You’ve seen people on tv, magazines, even online that offer credit repair that sounds too good to be true. How do you know who to trust and if you should sign up with a company or not?  Did you know that you can take personal steps on your own to rebuild your credit without having to commit to a program?  You should not have to pay to rebuild your credit with these proven steps.

One of the best ways to begin rebuilding your credit is by using the accounts you already have.  If you don’t have any consider getting a low line credit card or secured credit card.  This means you put money onto a credit card and you can only spend the amount on the card.  It is basically a prepaid card but it will build your credit by having a card in good standing.  It is an easy way to reestablish credit slowly and responsibly.  It is important to realize the importance of paying all your bills on time during this period.  Bills such as car insurance, phone, electric, and especially a car payment that is paid on time and in full for that month can improve your credit significantly.  Don’t think these bills won’t matter because in the end, they can reflect negatively or positively on your credit report.

When you begin rebuilding your credit, don’t pay all the debt you have in one payment but rather gather the information for each account and set up a time when you will pay them all so they are never late again.  Pay off the balance each month and that will bring up your credit score considerably.  You want to prove that you are able to pay on time and pay the amount in full that is currently due, not just take a lump sum of money when you have it and pay a bill. A great way to reestablish your credit is with a car loan in Calgary. At Loan Doctor in Southern Alberta, we offer quality used vehicles and car financing in Medicine Hat. Apply today, you won’t be disappointed!

What is Automotive Financing?

Automotive financing is a situation in which a car buyer requires financial assistance to help pay for a new vehicle. There are several different ways that buyers can finance the purchase of a car, including taking out a loan. In order to understand automotive financing, it is important to understand how loans work as well.

While a minority of car buyers will be able to pay for their new vehicles with cash, the vast majority of individuals need some sort of automotive financing. Car financing in Lethbridge is often synonymous with a car loan – meaning that the financing is usually done in the form of a loan made by a lender for the purchase of a car.

In order to buy a car, many people approach lenders, such as a The Loan Doctor, with a request for money. Lenders usually like to see that the buyer has some money (or another car) to put down as a down payment for, or trade in for a car. The lender will then determine if the borrower is a good risk.

 Speak with us today at http://www.loandoctor.ca/calgary-southern-alberta/   in order to find out how much we are willing to lend you and how quickly you will need to pay off that loan.  Have Bruised Credit? Don’t worry we can get you approved for your car loan in Calgary.