Searching for the Lowest Interest Rate
Searching for the lowest interest rate when dealing with bad credit is very much a part of the process when applying for an auto loan. We often get customers calls inquiring about getting the lowest interest rates when looking to finance a car with bad credit. The answer is….it all depends on several key factors that will determine your rate and these include;
Job Stability – most lenders require a minimum of 3 months on the job. Reason for that is most employers have a 3 month probation period. The longer the job stability, the better your chances for a lower interest rate.
Previous/current credit history inquiries to your credit bureau can increase your interest rate. Shopping around from dealer to dealer will only lower your overall beacon score. Finding and sticking to one dealer before giving them the authority to do a credit check can avoid numerous inquiries hence a lower interest rate.
How To Search For the Lowest Interest Rate
Credit Bureau- for people with current credit issues, consult with an auto credit specialist that will work with you from start to finish. This will not only make the experience less stressful but also get you the lowest interest rate possible. A credit specialist can in most situations serve you better as they not only work on your behalf but have the experience and the lender partners to get you the best rate you deserve. It’s key to have someone with a set of trained eyes helping you negotiate the best rate.
Searching for the lowest Interest Rate
Call us to see what you qualify for would be a good start in your search for the lowest interest rate. If you are currently in a high interest rate auto loan and are making your payments on time, we can revisit your loan and look at the possibility of switching you into a lower rate auto loan. A consultation is free and we are always glad to help. Apply now to see how we can lower your auto loan interest rate.
We serve all of British Columbia
Click the link below to get the lowest possible interest rate for your bad credit auto loan.