You have grown old enough to buy a car to go to work, drop kids school and buy the groceries. You have visited the local car dealer, selected a model that suits your pocket even decided on the color but the only problem is with the car loan. You have a bad credit score in the bank which has been causing trouble. Well we can help you with the problem. In America over 65% individuals have a below average credit score which obviously does not make them the most suitable candidate for the loan but certainly does not hinder from getting them a desired loan.
We will tell you the three criteria based on which the bank chooses its loan candidates.
1. Score <650- if your credit score is more than 650 then you are one of the most preferred candidate for their loans. They will welcome you with open hands and offer you a best interest loan.
2. Score ranges from 650 to 630- this is the most common credit score. This means you are an average loan candidate. They will not reject your score but certainly prefer the premium customer before you.
3. Score >630- you fall under the defaulter category. Your account is shown to them under the bad credit section. Don’t worry this can be dealt with.
There is a simple three way online application system which will help you get a car loan in Canada regardless of a bad credit score-
1. The first thing that you need to do is fill an online application form with carloanscanada.com.
2. The application form will help you indicate the amount of loan you need, the interest rate you are comfortable with and the time deadlines which suit your needs.
3. Once the form is filled and submitted, a credit manager agent will find some bank loan schemes matching your needs. He/she will find you a perfect match. This process is a little time consuming but gives a 99% approval guarantee.
4. Once the selection is done the manager will help you understand the terms and conditions of all favorable candidate banks thus helping you finally get a car loan.
Finally the process is complete within a week and you get a car loan regardless of a bad credit score. The car loan will not only help you buy a car but even slowly increase you credit score making you a suitable candidate for your next financial venture. We hope this information helps you in buying your dream car!
