Rebuild Your Credit With an Auto Loan!

Automotive FinancingAs some Regina-area drivers know, rebuilding your credit is never easy, but fortunately, one of the best ways to do it is with an auto loan. When you make your payments on time, a car loan can do wonders for your credit, rebuilding your standing even after bankruptcy or consumer proposal. Paying your loan on time will also make it easier to borrow money in the future.

Even so, some drivers around Regina and Moose Jaw may be hesitant to pursue an auto loan. It’s not as scary as you think! Just consider the following.

Can I Still Finance a Car With Bad Credit in Canada?

While it’s true that there are many financial institutions out there that won’t consider giving you a loan if you are in a bankruptcy or consumer proposal, it’s also true that there is less risk to a lender in giving you a car loan than there is in giving you a home loan.  The fact is that auto loans are one of the best ways to rebuild your credit, and the finance specialists at Crestview Chrysler can help.

Will You Work With Me?

Many lenders will require a full discharge or completion of your bankruptcy or consumer proposal before giving you an automotive loan; but at Crestview Chrysler, we’re proud to offer a Credit Rebuilding Program. Our Credit Rebuilding Program can connect you with lenders who can approve you for an automotive loan while you are still completing your financial obligations from your bankruptcy or consumer proposal.

We understand that a vehicle is necessary for most individuals and families, and we will do everything in our power to help you get behind the wheel of one that suits your needs — and rebuild your credit in the process!

Why Shouldn’t I Purchase a Vehicle With Credit?

While we’re committed to helping all drivers in and around Moose Jaw and beyond get behind the wheel of vehicle that suits their needs, the fact remains that not every driver should purchase a vehicle using credit. Here are a few reasons not to buy a vehicle with credit:

  • The interest rate fluctuates with the prime rate.
  • The bank is able to withdraw money from your account to pay for your loan.
  • Homes are used as collateral for secure lines of credit. If you default, the bank will be allowed to take your home.
  • If you become insolvent, the bank may require you to pay the balance of your loan in full.
  • The bank can also demand the full loan amount be paid if they see in increase in risk to the security.
  • Opening another line of credit could cause the cost of your home insurance to rise.

Given the risks, you should only purchase a vehicle using credit if you are confident in your ability to make the payments on time and without difficulty.

How Do I Begin?

If you’d like to secure an auto loan from our dealership, you can start the process by applying for financing online. We’ll contact you shortly after you submit your information to help you find a car loan that makes sense for your circumstances. If you have any questions, or if you would like to discuss the process in person, you can visit our dealership at 601 Albert St. in Regina, SK or call us at (306) 525-5411.