Buy a Car with Low Credit in Glen Abbey with Ease

Buy a Car with Low Credit in Glen Abbey with Ease

Posted on March 16, 2022

If you want to buy a car with low credit in Glen Abbey, there are options available. But you need to have a game plan. Interest rates are low, but the Bank of Canada will begin raising them soon, and when that happens, Glen Abbey car loans will become more expensive.

Taking a closer look at your credit

Check out your credit score by visiting TransUnion and Equifax to find out what your current score and whether there are any errors inside your report.

If there are errors in your credit report, even if they seem trivial will negatively impact your score for up to six years.

To remove those items, you would need to go through the dispute process established by the respective credit reporting agency.

It could take up to thirty days to have the errors removed, so you need to get a jump on these issues as soon as possible.

The median credit score in Canada is around 660, and you will need a credit score of at least 700 to qualify for a prime interest rate loan in Glen Abbey.

Most Canadians can get approved if their score is over 600, but you are going to pay slightly higher than prime rates.

Even if your credit score is in the 500’s, you will be able to get approved for a loan, but there is some important leg work that needs to happen first.

The easiest way to rebuild your credit

There are a few things you can do to help rebuild your credit score. First, are you current with your accounts?

If you have any accounts that are past due, your first task should be to bring those current as soon as you can.

Negative records are the main reason your credit score is low, so taking care of this issue first will help turn things around.

This step might take a few months before you start seeing the results, but it will yield tremendous benefits, so stick with it.

Another option is to have someone who has good credit add you as a joint account holder.

Their credit score will help boost yours, but you are also responsible for the account and amounts owed.

The best place to find a great deal on a new car with lousy credit

We need a car to live in Canada; walking around in –30 weather is simply not an option. Most traditional lenders will not give you a car loan, so you need to think outside the box.

Your best option to buy a car with low credit in Glen Abbey is to go through a local dealership, but they need to specialize in providing car loans to those with credit issues.

The dealership is going to take their time getting to know you and then come up with a plan.

This plan will help improve your credit so you will be able to get a prime interest rate loan in the future. In addition, this same dealership will help you get approved for a car loan today.

These car dealerships already have vehicles in their inventory for sale, so you can drive your new home car today.

We’d love to help you buy a car with low credit in Glen Abbey. Simply fill in the form below and we’ll get back to you ASAP or see our selection of new and used cars at our Brantford dealership.

Thanks for reading. Be sure to connect with us on Facebook, Twitter, Instagram, or LinkedIn to stay up to date on our latest great articles!