Oshawa Bad Credit Car Loans, Loan Doctor Canada

Bad Credit Car Loans and Auto Financing Oshawa, Ontario

Oshawa loans for bad credit car financing in Ontario

Another thing about credit lines is the interest rate. Generally speaking, they have what are called "floating rates". A floating rate is a point or two above prime, and at the time you get the loan it seems very attractive - because it is cheaper than other fixed rate loans, which is usually a point or two above that of the line of credit.

There are a few drawbacks though. As mentioned, the rate is floating, so if the prime rate goes up so does your interest rate. Again, the fixed rate is locked in, so no matter how high interest rates go, yours will never increase.

But what about if rates drop? As long as you have a good track record of prompt payments (minimum 6 months...which is at least how long it will take a significant rate change to occur) you can renegotiate. Having a few late payments also won't affect your rate with, but with a line of credit you could see you rate creep up - defeating the whole point of getting it in the first place.

So concerning lines of credit vs. car loans if all you want is the car, then get your financing from us at the Loan Doctor!

Easy 3-Step Process

Two Minute Application

Quick, easy and secure credit application. This is the first step in rebuilding your credit and getting the vehicle you want.


Choose Your Vehicle

Loan Doctor has access to thousands of cars, trucks, vans and SUVs across the country. We finance all makes and models!


Drive Away...

Congratulations on your new car! Loan Doctor will continue to work on lowering your interest rate even after you drive away.

Acquire a Vehicle Without Making a Large Financial Commitment

If you are trying to purchase a used vehicle, you do not need to worry about being forced to make a large financial commitment. Loan Doctor will help you secure the auto financing you need. Car financing in Oshawa allows you to make low monthly payments until the full price of your vehicle is covered.

We will guide you through each step of the financing process and work to address any of your questions or concerns. Every person's financial situation is different, and therefore, we offer our customers a wide range of financing options.

Getting approved for car financing should not be a difficult process. It takes only minutes to fill out our online application and schedule an appointment with one of our experienced loan specialists.

What Does it Take to Get Approved for an Auto Loan in Oshawa?

If you are wondering whether you can get approved for an auto loan, some basic information can get you on your way to getting financed. Finding the right lender for a car loan is essential for several reasons. First of all, your credit situation may be poor. While some lenders will turn you down without a second look at your credit history, Loan Doctor can finance you whether you have great credit, bad credit, or no credit.

You will also want to find a lender that can get you financed quickly. We offer a simple online application that can get you approved easily and without waiting. While finding a car loan may seem daunting, using the right lender makes getting approved today uncomplicated.

Bad Credit Car Loans and Auto Financing Oshawa, Ontario

Regardless of your past credit issues Loan Doctor can help

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