Establish a comfortable monthly budget and then start looking for the vehicle that fits your particular needs, preferences and, most importantly, your budget. Think of it like pre-qualifying for a mortgage.
You may not get exactly the vehicle that you are looking for, but if everything is done properly you will get into a newer model vehicle with a payment that is manageable for you. Remember that the main goal is to repair your credit!
Make sure that the lender that you are working with is getting you the best possible rate that you can get!
The car you are going to drive is not the main concern; repairing your credit is. Work with a monthly budget that is comfortable for you. Don't overwhelm yourself with a large monthly payment that will be difficult for you to afford. Once your credit history is back on track, you will be able to get into the vehicle that you want.
Always make sure that you make your payments on-time and in full!
Always get a warranty! This will take away the need to budget for possible costly repairs.
Try to go with No Money Down! Good people can end up in situations where they have very little or no money to put down on a vehicle. We always try our best to avoid having our clients put down a large amount of money before they start making monthly payments.
Where you go for financing makes a real difference! Most dealerships will put you into a vehicle of their choice from their inventory. We deal with a vast network of dealers for inventory which means a lot more choice for you.
At Easy Online Approvals we specialize in financing low interest car loans to customers with bad credit. We also place a great deal of importance on establishing or re-establishing the credit histories of all of our clients. The approach that we take is to pre-qualify our clients with the financial institutions that we will be dealing with exactly the same as you would when pre-qualifying for a mortgage.
We proudly service the GTA and all of Central Ontario and finance all makes and models.