Need a New Car in Southern Saskatchewan?
Looking for a new or pre-owned car? You are in the right place. At Loan Doctor, we specialize in car loans throughout Southern Saskatchewan. We have access to a huge selection of vehicles to satisfy every need and budget type, and our banks and other lenders can often get people approved even when other dealerships have turned them away. Whether you are looking for something fun and sporty, or you have a growing family and need something a little roomier, we have a car that will be perfect for you. If you are ready to take the next step, please get in touch with us. Start the process by filling out our online credit application form. We look forward to seeing you behind the wheel of your new ride!
Bad Credit And Car Financing
Until recently, bad credit and car financing in Southern Saskatchewan were two things that did not go together. Lending money to purchase used cars, in and of itself, was considered a risky proposition. Adding bad credit to the mix guaranteed your application getting the stamp of disapproval. As the number of used cars on the market and the people who desire them have increased lenders have opened their coffers more willingly to potential borrowers.
For a variety of reasons people have financial hiccups in their lives that lower their credit score. That bad credit score can become a stigma and restrict a person's access to certain financial programs. If you have bad credit and your car loan is a necessity then this is a great time to explore your options. While traditional lending sources might be closed to you or difficult to access there are other avenues.
Before you embark on finding a lender to help you purchase your used car, it is advisable for you to find out what exactly is on your credit report and what your score is. With this information you will have a better idea of what you need to do to raise your credit and you will have knowledge of your own credit rate when you go to negotiate rates for your loan.
The internet is the best place to find lenders that are amenable to financing car loans for people with bad credit. At the Loan Doctor your application will be reviewed in a timely manner and a financial representative will contact you to talk to you about your options. Having bad credit and your car loan being unattainable do not have to be two things you suffer from.
All You Need To Know About Auto Loans in Southern Saskatchewan
Whether you are buying your first car or need a little help purchasing your next car, you may need to take out a loan but feel daunted by the prospect. Fortunately, getting auto loans can be fast and simple once you understand the basics.
When you take out a car loan, it can be financed through the dealership or through a third party like us at the Loan Docotr. Taking out a loan through the dealership can be convenient, but we offer you better interest rates. Auto loans last a set number of years, and your interest rate will depend on your beacon score, liabilities, and other factors. You'll pay back the interest and then the principal balance of your loan in installments over the agreed-upon time period. You also may have the option of refinancing your loan later to get a better rate.
Getting help purchasing your next car might sound difficult, but applying for auto loans is often a quick and easy process. With the help of the right specialist like the Loan Docotr, getting your new car should be no trouble at all.
Easy Steps For Car Loan Budgeting
For many people who go to buy a new or used vehicle, there's no greater victory than securing financing for the purchase. But while receiving an auto loan is a victory, it is only the beginning of a long journey to successfully pay back the debt. Car Loan Budgeting is important for any consumer who hopes to pay back the lender on time and in full. With recent data showing record numbers of Canadians taking on car loans, there are several important steps to consider when it comes to auto financing in Southern Saskatchewan.
To begin with, every borrower should have a clear system to manage and track his or her total spending. A budget can be through sophisticated computer software or with pen and paper, but it should include all income, bills, and ongoing debts. Car payments are monthly, and can usually be drafted from a bank account to the bank or lender. Depending on the kind of financing obtained, an auto loan is typically a three or five year commitment. The monthly car payment should be listed in a budget as a non-discretionary item, meaning it's not optional and will be paid no matter what.
Perhaps the greatest mistake people make in Car Loan Budgeting is assuming that the only expense in the vehicle is the loan itself. A thoughtful budgeter will consider the total expense for owning and maintaining the vehicle. This includes items like scheduled maintenance, tire replacements, gasoline, insurance, parking fees, and cleaning. While it's true that not all of these expenses are mandatory, they are still costs that will likely be accrued over time and therefore need to be accounted for.
Finally, remember that just because you qualify for a certain loan doesn't mean that it's the best debt to take on. If you believe that you're barely able to make monthly payments on a five-year loan with your last nickel, perhaps you should consider a cheaper car with a shorter term.
What You Should Consider When Buying A Used Car
Buying a new vehicle can be a stressful and intimidating experience. There are many choices a consumer must make and with those choices dollars and cents are on the line. Among the first choices a person has to make is whether or not they will purchase a new or used car. If you choose the new route, bear in mind that your new car depreciates in value nearly 10% the minute you drive it off the lot. With the fantastic rates for used car loans in Southern Saskatchewan consumers can find today, used might be the best choice for you.
Now that you've chosen the research and introspection phase of the process begins. How much can I afford? There are multiple lenders willing to extend used car loans to customers, but you need to have an honest conversation with yourself about the financial commitment you can make toward a new vehicle. If you do not, an otherwise exciting experience will turn quite stressful after a short time.
After you narrowed down your price range, you can find a vehicle that suits your needs and fits your budget. Utilize the easy access to information there is about cars on the web to help make an informed decision. It is also a good idea to enlist the help of a car savvy friend if you are not.
Unless you can pay cash outright for your new car, another arrangement will have to be made. Used car loans are great ways to put reliable transportation into the hands of people who need a structured repayment plan. There are some questions you need to ask yourself and your prospective lender. How large of an initial payment can I make? What is the interest rate I will be paying on my loan? What is the exact amount each payment will be every month and how many payments will I be making before the loan is completely paid?
Do not shy away from buying a vehicle because you can't purchase brand new. Do some planning, research and arm yourself with the knowledge you need to make an informed used car purchase and save some money. Then contact us at the Loan Doctor to guide you through securing a car loan in Southern Saskatchewan.