Rebuild Your Credit With an Auto Loan!
As 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! Read on to learn about the ins and outs of bad credit car financing and how paying off an auto loan can help you rebuild your financial health. Then, if you need further assistance, don’t hesitate to reach out to our finance department in Regina. We can walk you through your options with professionalism and transparency.
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.
Why Is An Auto Loan a Good Way to Rebuild My Finances?
If you have a sub-prime credit score (anything below 650), you’ve received a consumer proposal, or you’re getting back on your feet after a bankruptcy, you’ll find that it’s difficult to get a loan. When you are able to procure a loan, it’s certain to come with high interest and may require collateral. If your credit score is below 650, why, then, would you shop for a car?
Rebuilding your credit score can be a slow process, and if your strategy has been to make reliable payments on small purchases, you’ll find the road back to financial health can be long and treacherous. While it sounds counterintuitive, when you take out a large loan that you know you can afford to make reliable payments towards, you’re likely to see your credit score rebound much more quickly.
How Can Crestview Chrysler Help?
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 a model that suits your needs — and rebuilds your credit in the process! Many other lenders, however, 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’ll work with you to ensure that you find a loan that is within your means to make payments on, so you can fast-track the path back to financial health. We’ll also make sure you take advantage of any applicable new vehicle specials or used cars deals to help ensure you’re taking advantage of every opportunity to save that’s available for you.
How Can I Obtain Bad Credit Auto Financing and Rebuild My Score?
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 near Carlyle 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. While you’re here, take a moment to explore our car buying tips for other helpful reads, including our used car shopping tips!