Wednesday, April 13, 2011 The Review.ca 14 Is your car trying to tell you something...need a tune up? Does your home look like it could use a face lift? Call in the specialists. Wheel into Spring! You can still get a car loan, even if you have bad credit Do you have bad credit? Are you of the belief that you cannot get a car loan because of your poor credit rating? Tens of thousands of Cana- dians, in the same financial position as you, are the proud owners of their new cars- cars they got in spite of their bad credit! Due to a surge in the amount of Canadians with bad credit, a select number of financial in- stitutions have geared themselves specifically to specialize in bad credit car loans. It is through these banks and private lend- ers that people with bad credit, who in the past may have not have been approved on a car loan, are now virtually 00% approved- Guaranteed! is may sound too good to be true, but it is not. e approval process for a bad credit car loan has never been easier! () Fill out the on- line approval form, (2) Pick your payment and (3) Choose your car. It’s that easy! Having bad credit is not something to be ashamed of. You can have the car of your dreams without waiting for your bad credit to repair itself. Forget waiting for seven years for bad credit to “fall off your bureau”. Take control of your credit and your finances. By getting a bad credit car loan, your credit will also improve much more quickly. Here’s how it works: making regular pay- ments on your car loan each month will show the credit company that you are responsi- ble and capable of con- sistently making your loan payments. It will only take a few months before the credit company will raise your credit score and you will be on your way to re-establishing your credit. Recognizing the need for bad credit car loans, many automo- bile dealers have hired a credit specialist to help people with bad credit get a car. e credit special- ist works together with the lenders to negoti- ate the lowest rate possible for your particular situation. Putting money down is oftentimes not re- quired. e credit specialist understands the need to re-establish your credit and will work with you to stay within your budgeted pay- ment. Banks, credit card companies, retail stores who offer credit, car leases, car loans, student loans- they all report to the credit bureau. If you have ever had any dealings with any of the aforementioned institutions, then you can be sure that you have a credit report. A credit report is your financial report card. It is reported to monthly by all of the institu- tions from which you have borrowed money or have credit with. is is their way of protecting themselves, of not only keeping track of your payment histo- ry with them but with other companies as well. is can work in your favor because as your credit matures, more and more companies will be willing to lend you money, to trust you based solely on your payment history. However, if by chance you happened to miss a few payments, defaulted on a student loan, or filed for bankruptcy, then the opposite is in store for you. Higher interest rates, limited amounts fi- nanced and other restrictions may be placed on your loan depending on the severity of your bad credit. Check your credit report at least once a year. You may think your credit history is perfect be- cause you have never been late or missed any of your loan payments. What you may not know is that your cred- it card company may have mistakenly reported that you were late paying last month’s bill. is happens quite frequently and it is important to catch these mistakes before it’s too late. It is not unusual for your credit report to be used as a determining factor in your insurance quote. Potential employers have also started taking a closer look at your credit bureau. Today, you credit history is used as a measuring tool more than simply applying for a loan. Landlords are also interested in seeing a pro- spective tenant’s credit history to judge whether you are reliable and will pay the rent. Your credit report contains information about your past and present personal and finan- cial situation. Credit cards that never been formally can- celled will appear on your credit history as an open line of credit. is is not a bad thing, as long as the bal- ance is at zero, because having a card open for a few years is great for your credit. Credit-related court judgments against you in a lawsuit such as bankruptcy, will be recorded in your credit re- port and follow you on your credit history for many years to come. If you have any unpaid debts they will ap- pear in your credit report. If you are applying for a loan, these debts will be entered into the credit formula as debt and affect your credit rating. A bad credit rating may prevent you from getting the best offer in terms of rate and amount. Used cars and warranties It is a well known fact that new cars de- preciate drastically as soon as you drive them off the lot. is pill is a hard one to swallow for a lot of people. Used extended auto warranties generate a lot of appeal when it comes to getting value for the money. A good warranty can lengthen the life of a used car in an economical way. e following are a few tips to keep in mind when buying a used car war- ranty. Have a mechanic thoroughly check the used car you are think- ing of buying. Bet- ter safe than sorry. You should also check the vehicle history report at www.CarProof.com. You will need to have the VIN of your car to do this. Once it’s been checked over and you have established that the car is in good con- dition, find out wheth- er or not it is still un- der warranty. Oftentimes, if the car is only a couple of years old, it will still be covered under the manufacturer’s war- ranty. ese warranties are great because they cover a lot.
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14 The Review.ca Wednesday, April 13, 2011
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Wednesday, April 13, 2011 The Review.ca14
Is your car trying to tell you something...need a tune up?Does your home look like it could use a face lift? Call in the specialists.
Wheel into Spring!
You can still get a car loan, even if you have bad creditDo you have bad credit? Are you of the belief
that you cannot get a car loan because of your poor credit rating? Tens of thousands of Cana-dians, in the same financial position as you, are the proud owners of their new cars- cars they got in spite of their bad credit!
Due to a surge in the amount of Canadians with bad credit, a select number of financial in-stitutions have geared themselves specifically to specialize in bad credit car loans.
It is through these banks and private lend-ers that people with bad credit, who in the past may have not have been approved on a car loan, are now virtually 00% approved- Guaranteed! This may sound too good to be true, but it is not.
The approval process for a bad credit car loan has never been easier! () Fill out the on-line approval form, (2) Pick your payment and (3) Choose your car. It’s that easy!
Having bad credit is not something to be ashamed of. You can have the car of your dreams without waiting for your bad credit to repair itself.
Forget waiting for seven years for bad credit to “fall off your bureau”. Take control of your credit and your finances. By getting a bad credit car loan, your credit will also improve much more quickly.
Here’s how it works: making regular pay-ments on your car loan each month will show the credit company that you are responsi-ble and capable of con-sistently making your loan payments.
It will only take a few months before the credit company will raise your credit score and you will be on your way to re-establishing your credit.
Recognizing the need for bad credit car loans, many automo-bile dealers have hired a credit specialist to help people with bad credit get a car.
The credit special-
ist works together with the lenders to negoti-ate the lowest rate possible for your particular situation.
Putting money down is oftentimes not re-quired. The credit specialist understands the need to re-establish your credit and will work with you to stay within your budgeted pay-ment.
Banks, credit card companies, retail stores who offer credit, car leases, car loans, student loans- they all report to the credit bureau. If you have ever had any dealings with any of the aforementioned institutions, then you can be sure that you have a credit report.
A credit report is your financial report card. It is reported to monthly by all of the institu-tions from which you have borrowed money or have credit with.
This is their way of protecting themselves, of not only keeping track of your payment histo-ry with them but with other companies as well. This can work in your favor because as your credit matures, more and more companies will be willing to lend you money, to trust you based
solely on your payment history. However, if by chance you happened to miss
a few payments, defaulted on a student loan, or filed for bankruptcy, then the opposite is in store for you.
Higher interest rates, limited amounts fi-nanced and other restrictions may be placed on your loan depending on the severity of your bad credit.
Check your credit report at least once a year. You may think your credit history is perfect be-cause you have never been late or missed any of your loan payments.
What you may not know is that your cred-it card company may have mistakenly reported that you were late paying last month’s bill. This happens quite frequently and it is important to catch these mistakes before it’s too late.
It is not unusual for your credit report to be used as a determining factor in your insurance quote.
Potential employers have also started taking a closer look at your credit bureau. Today, you credit history is used as a measuring tool more
than simply applying for a loan. Landlords are also interested in seeing a pro-
spective tenant’s credit history to judge whether you are reliable and will pay the rent.
Your credit report contains information about your past and present personal and finan-cial situation.
Credit cards that never been formally can-celled will appear on your credit history as an open line of credit.
This is not a bad thing, as long as the bal-ance is at zero, because having a card open for a few years is great for your credit. Credit-related court judgments against you in a lawsuit such as bankruptcy, will be recorded in your credit re-port and follow you on your credit history for many years to come.
If you have any unpaid debts they will ap-pear in your credit report.
If you are applying for a loan, these debts will be entered into the credit formula as debt and affect your credit rating. A bad credit rating may prevent you from getting the best offer in terms of rate and amount.
Used cars and warranties
It is a well known fact that new cars de-preciate drastically as soon as you drive them off the lot. This pill is a hard one to swallow for a lot of people.
Used extended auto warranties generate a lot of appeal when it comes to getting value for the money. A good warranty can lengthen the life of a used car in an economical way. The following are a few tips to keep in mind when buying a used car war-ranty.
Have a mechanic thoroughly check the used car you are think-ing of buying. Bet-ter safe than sorry. You should also check the vehicle history report at www.CarProof.com. You will need to have the VIN of your car to do this.
Once it’s been checked over and you have established that the car is in good con-dition, find out wheth-er or not it is still un-der warranty.
Oftentimes, if the car is only a couple of years old, it will still be covered under the manufacturer’s war-ranty. These warranties are great because they cover a lot.