Getting Approved Even with Poor Credit for an Auto Loan

If you are looking to finance a car or truck, but you are concerned you may not get approved for a car loan in Regina, there is good news.  Auto lenders today are actively working with consumers who have struggled in the past with credit problems.  Problems such as late payments and slow payments and getting approved for an auto loan can still be a reality for you if work with the right auto lenders.

 

The recent recession has hurt millions of people financially.  Sometimes, it can be hard to make ends meet and some bills are late getting paid.  Typically, slow payments on credit lines or loans can have a negative effect on someone’s credit, especially if the payments are made more than 30 days late.  One strategy to pursue is to stay in contact with your creditors, letting them know of your financial situation and to find out if there is an option for making a partial payment or perhaps restructuring the terms of your loan.  The worst option is to communicate with your creditors during tough times.  Remember, they want to continue receiving money from you.  They don’t want to repossess the collateral upon which the loan is secured.

 

If you have had problems with slow payments and getting approved for an auto loan in Indian Head, the best place to start looking for a lender who will extend you a loan is on the internet.  Most will allow you to apply online for a loan.  They will review your financial situation, your income and your available cash to determine how much of an auto loan for which you can qualify.  You may be surprised to find that you will approved by several different auto lenders, and it is important to review the terms of each loan offered to you.  You want to make sure the interest rate is competitive and what the penalties are, if any, should you pay late or decide to pay off the loan early.  Once you have found a car loan  in Swift Current that you can afford, then it is just a matter of finding the right car to fit the needs of your family and you!

Don’t Trash Your Car; Keep It Looking New

Having an organized and clean car can actually help you feel better on the road.  And it’s important to take pride in your things, especially something as important as your car.  If you keep it looking nice, you will naturally feel happier. Here are some tips to keeping your car looking great.

When your kids get in the car, do you allow them to bring in food or drinks?  If you do, make sure they are in spill proof cups and bowls.  And if they bring it in the car, make sure they take it out. This goes for papers, books and toys.  The car is not their playroom and books and toys should be stored away in a tote bag.

 

It’s also a good idea to keep a trash bag in your car so if you need to throw something away, you have a bag handy.  If you do not have a trash bag of some type in your car, that garbage just may end up on the seat or the floor.  When you stop for gas, be sure to throw out the bags of trash that you have accumulated.

 

For small spills, keep a portable hand held vacuum in the back seat or in your trunk.  That way, if you need to vacuum up some crumbs, you won’t put it off.  You will be able to grab the vacuum when you stop and clean it up quickly.

 

If you have any stains on your upholstery, a dab of toothpaste may do the trick of getting the stains out.  Just dab the stain with the toothpaste and wipe gently with a wet cloth.

 

And don’t forget about the exterior of your car.  That is just as important.  If your car is dirty or you have salt on it, run it through the car wash immediately instead of letting it sit on there for days.

Follow these tips to keep your car looking great and to feel happier and relaxed on the road. Loan Doctor in Regina, can get you a quality affordable used car, and easy car financing in Yorkton. Apply today!

How Should Someone With Poor Credit Best Finance A Car

Canadians will need to purchase cars in the foreseeable future as most adults rely on a personal vehicle as a primary mode for transportation.  Also, many will need to finance and purchase a car in a short timeframe.  Whether someone has good or poor credit, car financing in Regina is a subject in which every motorist needs to be well informed.  When financing a vehicle, there can be lots of unfamiliar jargon and terms.  After all, what do things like “balloon payment,” “solvent,” and “buying on margin” actually mean in plain English?  And how does that directly relate to one’s car loan in Regina?  There are other frequently asked questions including, “Should I find a cosigner?” and “Is a variable-rate loan a better option?”  The answer is that it almost always depends on any one person’s unique past and present situation.

Many people have poor credit, and car financing in Saskatchewan can be a major concern.  For many, life would be very challenging without access to a reliable vehicle.  Sometimes purchasing a new car is a wise financial decision regardless of poor credit.  Often times, repairs on older vehicles can become increasingly expensive due to an overall shortage of available spare parts.  Plus, other expenses including rental cars can add up while old cars are repeatedly in the shop for long periods of time.  For those in immediate need of a vehicle with poor credit, car financing can be an absolute necessity.  It can be tricky to make the right decision.  Is it better to have higher monthly payments on a new car in hopes that there will be no payments for costly repairs?  Or is it best to finance an older, used car for lower monthly payments?  Again, there is no one right answer for everyone.  The only solid piece of advice that applies to everyone is that it is best to stay informed.  Car buyers should not be afraid to ask questions when talking about financing their next vehicles if they are unfamiliar with a specific term or what the car dealer is saying altogether.  It is always better to know exactly what is being signed than making a commitment that is not fully understood and could be potentially harmful in the future.

Tips For Understanding The Engine

Many of our customers tell us that they have little or no experience maintaining the engines of their used cars. These customers are often concerned when they hear unusual noises coming from the engines or when they think their engines are not functioning as efficiently as they once were.

We’re here to reassure all of our used car customers of a few things: first, we have inspected every used car engine of the used cars that we sell to be sure that they are durable and will last for years to come. Second, we have a warranty that covers many issues that are related to issues that can occur on used cars. Often, these issues have to do with normal wear and tear and are simple fixes.

Here are a few engine components that we often have to work on with used cars – and all cars – but that are often covered by warranties:

Radiator

The radiator is located under the hood of your car behind the body. In this engine component, hot coolant enters the radiator, circulates through the radiator system, and is recirculated back into the engine after it is cooled. Radiators can sometimes leak, causing cooling difficulties in the engine. Come on in if you think you have a radiator leak; we’ll take care of that for you right away before your engine overheats.

Fuse box

Like any major electrical machine, the machine has to have electricity to operate. The electricity in a car engine is controlled by a fuse box, which is usually located under the hood with other engine parts, but you may also find the fuse box underneath the dash board of your vehicle. Sometimes fuses blow, which requires that you replace it. We always recommend that customers carry extra fuses with them in case this happens. However, if you feel uncomfortable replacing fuses on your own, please feel free to bring your used car in for our technicians to take a look at it and safely replace any blown fuses.

Valves

You’ll notice that there are several valves in your engine. Valves usually control the air intake and then let out hot gases from exhaust. Sometimes valve covers leak, which may mean that you have a bad gasket or a loose cover.

Loan Doctor, offers car loans in Regina, and bad credit car loans in Regina. We will get you approved for a loan that fits both your budget and your lifestyle

Your Credit and Car Loans, 101

When it comes to getting a car loan in Regina, credit and car loans are intertwined in a way that makes them somewhat codependent. In order to get a great car loan, you’ll need to have great credit. However, in order to have great credit, it’s wise to have a history of car loans that you have successfully managed or repaid.

Here are a few ways that we want our customers to be aware of when it comes to car financing in Regina and credit working together:

How credit is built

Credit is determined by five different factors: payment history, types of credit, amounts owed, new credit, and length of credit history. These five factors all account for varying percentages of a credit score. However, payment history accounts for 35 percent of a credit score – the largest percentage. Payment history means the track record that an individual has developed based on loans that he or she has taken out and then repaid.

In order to develop a track record of repaying loans, it is important to actually take a loan out in the first place. Many people begin to build their credit by taking out small loans, such as a car loan, and then committing to repaying it. When repaying the loan, customers are able to develop positive credit histories.

Starting from zero

It is true for many people that they have no credit because they have a history of paying for cash or simply have not yet needed to take out a loan. However, it is important to develop a credit history so that people can qualify for low interest rates and high loan amounts. For example, if you ever wan to get a home mortgage loan, you’ll need to have good credit to get a good rate. Some people start by opening small accounts, such as credit card accounts – even if they don’t use those credit cards. Taking out a small car loan is also an excellent way to begin to build a credit history that will help you to get a lower interest rate down the road.

Stay positive

It’s important to keep a positive credit score by making wise financial decisions whenever possible. This means that you’ll need to repay your loans if you take them out. You should minimize debt in order to improve your credit score if it is bad. There are other tricks and tips that we are happy to share with you that will help you to get a better credit score and get a better loan. Contact us today for details or more information on getting a bad credit car loan in Regina.