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Bad Credit Car Loans Alberta. Do you live in Alberta and have bad credit? Need to have a vehicle that you can rely on? Good credit, bad credit, or horrible credit, it doesn’t matter what the situation is as we have a credit solution for you. We understand that life can have challenging circumstances come up that can affect your credit score. Regardless of a good, bad, or terrible credit score, people need vehicles to get to and from their jobs in Alberta, transport family, and get around Alberta. We have helped hundreds of Albertans secure a bad credit car loan to maintain or increase mobility across Alberta.
Take the first step in getting a Bad Credit Car Loan in Alberta approved, and We will not damage your credit score by sending your information to multiple dealerships or third parties all over Alberta. A specialized finance manager will contact you immediately after the submission of your bad credit car loan application in Alberta. Everyone deserves a second chance, and Edmonton Auto Loans guarantees acceptance of 100% of your good or poor credit. Good credit, bad credit, or horrible credit, it doesn’t matter what the situation is we have a credit solution for you.
Rebuild Credit with a Used Car Loan. Buying a low-kilometer used vehicle in Alberta instead of a brand-new vehicle will help reduce the overall expense and lessen the depreciation cost. Rebuilding your credit with a newer late model year used car, truck, minivan or SUV is a great value as you can usually purchase these vehicles for roughly 25%-35% less than a brand new one just a year or two newer. Many of these vehicles will also have factory warranties remaining on them, which can give you extra peace of mind.
Bottom line is, we can get you approved for a bad credit car loan in Alberta, with a budget and payment that is comfortable for you. If there is a specific vehicle you are looking for, give us a call, and will get you approved and locate the vehicle for you. We source vehicles from Dealer’s Inventory, Private Sellers, Dealer Auctions, Fleet Lease, and Rental Companies in Alberta. Whatever the vehicle, we have you covered. Our process of used car financing is stress-free and upfront. We can’t wait to help you get started.
Having a cosigner may help get a lower interest rate, or a higher amount approved for your vehicle purchase, depending on your credit and the cosigners’ credit. The co-signer can live in Alberta or any province outside of Alberta. The banks or lenders will do a risk assessment of the entire loan structure. Credit risk assessment is not always just about the credit score on the credit bureau, but the entire financial snapshot. The lenders will typically look at the past 2- 7 years of credit history to determine if there were any derogatory periods, such as slow or missed payments, written off credit cards, collections, judgments, repossessions, or closed by lender accounts.
Banks and Lenders will then look at the current credit snapshot which includes many of the same items, and some additional ones such as debt service ratio, credit utilization, current income, home equity, job stability, age, marital status, and also the vehicle itself. A newer, lower-kilometer vehicle is less of a risk than an older one. If the main applicant or the cosigner cannot pay the debt, and the vehicle is repossessed, the bank will then send the vehicle to an auto dealer auction in Alberta.
Newer model-year vehicles with lower kilometers are in much higher demand at Alberta dealer auctions than older ones. If you just cannot find a co-signer in Alberta or Canada, don’t worry you can get approved on your own. If you make payments on a car loan without a co-signer it could help to strengthen and build your credit further. Either way, there is bad credit car loan approval in Alberta.
through Edmonton Auto Loans and get approved right away. A Specialty Auto Finance Manager will contact you directly and discreetly go over your application. We can offer you the best interest rates in Alberta and the best terms to suit your situation. We have helped hundreds of Alberta residents with all sorts of credit problems. If you are looking for other types of Car Loans also, you can check the links below. You can apply and get approved regardless of your situation or location in Alberta. If you are over 18 years of age and have an income of over $1800 per month, you are already pre-approved.
Check out the Car Loan Payment Calculator, and estimate your monthly or bi-weekly payments, even if you still owe money on your vehicle. Our auto loan calculator has interest rate, provincial sales tax, and payment term estimation tools built right in, check it out by clicking here.
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Have further questions about Bad Credit Car Loans in Alberta?
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