How A Car Loan Can Rebuild Your Credit

There are many different factors that affect your credit score. A beacon credit score is a three digit number between 300 and 900. The closer your score is to 900, the better your credit rating. Your credit score is a simple way of telling lenders whether or not they should extend credit to you. If you score is very low, you are considered a higher risk and many lenders will refuse to extend you credit. Rebuilding your credit may seem daunting, especially if no one will extend you a loan. Fortunately, there is a fast and easy way to begin the process of improving your credit score. If your credit score is less than desirable, consider rebuilding your credit with a car loan in Okanagan.


One of the biggest factors that determines your credit score is payment history. If you are prone to missing payments or making late payments it will hurt your score. If you want to show lenders that you are serious about turning your financial situation around, all you need to do is get a simple car loan in Kamloops and make all of your payments on time. The more payments you make on time, the more your credit score will improve. Lenders are also interested in any new credit accounts that you have opened, which makes now the perfect time to secure a new car loan.


We specialize in granting car loans in Revelstoke to people with bad credit. We want to get you into a nice car and help you improve your credit along the way. At Loan Doctor we will work with you to find a monthly rate that is affordable. The last thing you want to do is take on a loan that you cannot afford, but do not worry about that. We work hard to ensure that your loan is manageable. As you make your payments on time and your credit improves, we can even work with you to lower your interest rate! Call us today to begin your application process.

5 Tips On Getting A Good Car Loan Interest Rate

  1. Know your credit score. Your credit score determines what kinds of terms you can secure on a loan. The better your credit, the better the terms. You can order your credit history report online or by phoning, mailing, or Emailing TransUnion Canada or Equifax Canada. Knowing your credit history and credit score can help you to know what quality of loans and interest rates you qualify for. This is vital for getting a good  interest rate on your car loan in Kamloops.
  2. Research and know what kind of vehicle you’re looking for. Are you looking for a load-hauling work truck or a commuter car with good mileage? Figure out what you need and do the online research to find out which makes and models that fit your needs rate most highly among professionals and consumers. Learn about durability and resale value. Knowing what your desired vehicle is worth can help you to realize which car loans in Okanagan work for you. Knowing about how a car is rated in terms of durability and resale can let you know whether you’d rather go in for a used car in Okanagan (cheaper, but usually coming with a higher interest rates) or a new model (pricier, but usually coming with a lower interest rate).
  3. Shop around for your loan. Sometimes dealers will offer better loan terms, and sometimes banks or credit unions will offer better loan terms. Let a dealer know that you are shopping around and have other offers to consider and they may offer you a competitive interest rate with other rates you’ve looked at. Actually having a prequalified loan with a bank or credit union can help you to secure better terms with a dealer.
  4. Shop around for your loan in a two-week time period. Every time you apply for a loan it affects your credit score, which alters the interest rate you can get. However, if you file multiple loan applications in a two-week window they only count against you once, ensuring a better offered interest rate on all.
  5. Never drive your new vehicle off the lot before the financing terms are set in stone. If you leave before you’ve signed very tight paperwork under the aegis of “conditional” financing, you have effectively locked yourself into keeping a car where the dealer gets to change the loan terms at their discretion. This is not a good idea.

Tips for Car Loans With No Credit History

When you are applying for a car loan in Kamloops, some people will tell you that you need to have good credit.  If you have no clue what your credit score is, don’t worry because there are millions of other people in the same situation.  Having a perfect credit score is very difficult and can be almost impossible if you have never bought anything on credit before.  Being in this situation can be extremely frustrating because how can you buy anything on credit if you have no credit, and can’t get credit until you buy something on credit?  What you need to do is find a lender that does not require a credit history.  While there are many car dealerships that offer cars, only some have the claim: “No credit history? We can help!”

Apply for car financing in Okanagan today and start establishing your credit. Loan Doctor Okanagan is here to help.


Buying a vehicle on credit is a big responsibility, especially if you are a first time buyer and you are trying to build your credit.  There are a few things that you need to keep in mind after you purchase a vehicle and are ready to start the payment process.  The first is to make sure you turn in your payment on time every month.  When you fall behind on payments it will hurt your credit but making payments on time will increase your score.  If you can’t make a payment for some reason, make sure you call your creditor and make arrangements with them instead of just choosing to miss the payment.  Always make sure you keep insurance on the vehicle in case there is an accident.  Most creditors require you to do this anyway, but it is a good idea even if they do not.  After you pay off your vehicle, you will find that if you stayed up on your payments, your credit score will be greatly improved and you will be able to borrow even more money or get a better interest rate the next time you go to make a purchase on credit.

Different Ways In Getting Stains Off Car Upholstery

People are beginning to spend more and more time in their vehicles.  This is due to a number of factors, but the fact remains that the more time that is spent somewhere, the faster and more likely it is to become dirty.  Getting stains off car upholstery and trying to keep the upholstery clean can be a chore.  Some stains are more persistent than others.  Here are a few tips and pointers on helping you keep your vehicle’s upholstery as clean as you can.

First, make sure you vacuum regularly and even after a stain has been made.  Vacuuming may actually help remove part of the stain, especially if the item that was spilled left crumbs.  Regular vacuuming also removes dust particles and dirt.  Oily substances love to cling to dirt, so removing the dirt can help remove the oily substances, as well.

Many of us are forced to eat in our vehicles at one point or another, and often the food we eat is convenience food which can be high in grease content.  If you are faced with a grease stain, you can remove this by mixing a little dishwashing fluid in with warm water and using a clean cloth to agitate the grease stain.  Getting stains off car upholstery can take more than one round of effort, so repeat as necessary until the grease stain is gone.

Morning commutes can be dangerous when coffee enters the picture.  Coffee stains can set with warm water, so be sure to use cold water to saturate the entire stain.  Let the water dry completely, then soak the stain again with glass cleaner.  Blot with a clean cloth.

Getting stains off car upholstery can be taxing, but not impossible.  Depending on the stain you are facing, there are myriad ways to remedy it and make your vehicle looking brand new and spotless again.  Don’t let stains get you down and don’t let them intimidate you!  Beat them and get your car looking amazing again.


The Loan Doctor in Okanagan can help you get approved for your car loan in Kamloops. Regardless of past credit issues, we can get you approved and driving, usually in 24 hours or less. Apply Now!

How much can I afford to borrow when purchasing my next vehicle?

A very common question among car buyers is, “How much can I afford to borrow?” There are a few simple steps anyone can follow to get a number in less than twenty minutes.  First, you need to come up with a basic household budget.  Write down how much you spend on essential items each month, including food, living space, utility bills, clothing, entertainment, etc.  Always round up if you are unsure of the actual cost or if the cost fluctuates.  Then, write down your net household income and subtract your expenses.  You should get a number of what you could spend on anything.  Subtract some more from that for savings and emergencies, and you will have the exact amount you can spend on a monthly car payment.

Then, conduct a simple web search to find out how much you can borrow while sticking to a monthly payment you can afford.  Type ‘how much can I afford to borrow in Canada’ into any major search engine and you will find numerous loan calculators from major banks, most of which are very easy to use.  Keep in mind that you will typically get an estimate, and it might be a little off.  For example, if you could afford a monthly payment of $400 and it was estimated that you can afford to borrow $29,500, it might be wise to borrow around $26,000.  Remember, the most important thing is that you have asked yourself ‘how much can I afford to borrow’ before you went car shopping.  There is little worse than being stuck with a vehicle that you cannot make payments for on time.  When you blindly take out a car loan in Kamloops, you risk basically throwing money away on late fees.  This can easily be avoided by thinking about your financial situation beforehand.  Remember, there are more important things than buying your dream car tomorrow, and always be ready to walk away from a loan that you cannot repay.

You can use our car loan calculator to figure out your payments. At Loan Doctor you can get a car loan in Okanagan, we can get you approved for your car financing regardless of past credit issues. Apply online today, and one of our credit specialists will call you!