Auto Loan With Bad Credit In BC

Auto Loan with Bad Credit In BC

Auto Loan Bad Credit in BC
We service throughout British Columbia to get you approved for an auto loan with bad credit in BC. Our process is simple and hassle free. If you are gainfully employed with a $2200/mo minimum income, we can help. So no matter where you are in BC, we are a phone call or an online application away from getting you an auto loan. During the consultation process, we also provide you with the information on how to improve your  current bad credit situation.

Easy Steps To Get Approved For A Bad Credit Auto Loan BC

  • Step 1:Fill in our quick application form.
  • Step 2: Our auto credit specialist will contact you within 30 minutes
  • Step 3: Setup an appointment.
  • Step 4: Take delivery.
  • Step 5: The quickest way to re-establish credit is with an auto loan!

APR – Interest Rate depends on many factors such as your income, your credit & the year of the vehicle.

 Getting Approved For An Auto Loan With Bad Credit In BC

We are BC’s first choice for auto loans with bad credit. We offer the lowest rates with same day approval. Our no.1 goal is to provide you with exceptional service, and the best possible new or used vehicle that fits you and your family’s auto loan needs. Bad things happen to good people sometimes or you could simply be just starting out as a first time buyer with no credit. An auto credit specialist here can show you how to get approved for an auto loan with bad credit in BC. Call us today for a free consultation to see what you qualify for. We take pride in serving our customers for years to come. Read our review page and see what others have said.

How To Calculate Your Debt To Income Ratio

Debt To Income Ratio

  Debt to Income Ratio for when you are looking to qualify for a bad credit auto loan. This is a tool all none prime lenders use in determining your qualification for an auto loan. A debt to income ratio is the balance between your total monthly obligations and your gross monthly income. Basically, the question here when applying for an auto loan is “can you afford to be in an auto loan?” and lenders are looking to see how well you can manage additional debt to your already existing credit obligations with this ratio.

The lower your ratio the better your chances of getting approved. However, the acceptable percentage varies with different lenders. Sub prime lenders for instance have a 45-48% maximum debt to income ration policy. The percentage will dictate the maximum monthly payment on the amount the lenders are willing to loan. Not only is this calculation useful in getting a loan, It tells you where you are at with your finances. It is a means to show when debt is getting out of control. Not only does it give you the opportunity to manage your debt, it also gives you the chance to improve it.

Also, note that your day to day living expenses are not factored in to your debt to income ratio, These are additional expenses monthly.

Debt to Income Ratio Calculator

To calculate your DTI (debt to income), add all your monthly debt payments, include your rent or mortgage, credit cards, car payments, and divide by your total household monthly income. Then multiply this by 100. Below is a screen shot posted by National Post on calculating your DTI

How to calculate your Debt to Income Ratio
How to calculate your Debt to Income Ratio

Debt to Income Ratio

If you go over the acceptable percentage of debt to income ratio, you may require a down payment or wait til some of your debt has been paid. Paying down your creditors as soon as possible will avoid the high debt to income ratio. Credit cards with the highest interest rates should be paid out as soon as possible. You might want to consider seeking help with resources such as Consumer Proposal or Credit Counselling when you feel your debt is out of control.

These are standard scenarios that may not necessarily apply if one has a high credit rating and some assets, but the best course of action when trying to qualify for an auto loan is to consult with a credit specialist.

My name is Joanne a Credit Specialist. Thank you for stopping by and I hope you found this blog informative. Before you leave, feel free to fill out the form to your right if you are in the market for an auto loan, simply click here for a free consultation.

Credit Queen Automotive Financing for the Good, Bad or No Credit

Bad or No Credit Car Loans

Credit Queen is an automotive financing company that provides auto loans for anyone with good, bad, or no credit, meaning a first time buyer. An automotive loan is the next best thing to a mortgage. We typically have an array of prime and none prime lenders to choose from to provide you with the best rate possible.

At Credit Queen Automotive Financing

We have a service to specifically help people with challenged credit or no credit, perhaps new in the country. We are dedicated to re-establishing your credit rating with an auto loan. There are different reasons why this is important. Firstly, it is difficult to access a loan with your traditional lender if your credit isn’t perfect. Secondly, your interest rate will always be higher with less than perfect credit unless you re-establish. Thirdly, we live in a credit environment where it is more often required to pay by credit nowadays.

Automotive Financing and Other Services

The other service we have is providing you with the vehicle that matches the amount you qualify for. Depending on the amount, we have access to all makes and models. Import and domestic vehicles. We listen to your automotive financing needs and provide you with a reliable vehicle and a monthly payment and term that fits your budget.

In order to qualify one must be in a full time position. hence our saying “you work, you drive” a minimum income of $2000 monthly. We provide loans for people 3 months into bankruptcy and 6 months into credit proposal or credit counselling. If you are needing a vehicle and have good, bad or no credit.…we can help!

Rebuilding Credit With A Bad Credit Auto Loan

How To Effectively Rebuild Credit With A Bad Credit Auto Loan

rebuilding credit

Rebuilding credit with a bad credit auto loan is the quickest way to getting back your good credit rating.  Working with an auto credit specialist can guide you through the process regardless of your credit situation.

Sometimes the unfortunate happens that are beyond our control. For example, loss of employment, divorce and illness, just to name a few, can happen to anyone. These unfortunate circumstances can cause missed payments, collection, repossession and sometimes bankruptcy. Going through the hard times can make one feel helpless and defeated. Therefore rebuilding your credit is important not only to restore borrowing privileges, it positively impacts all aspects of your life.

Rebuilding Credit With An Auto Loan

The process is simple with a bad credit auto loan. Once your approved, making your monthly payments on time can establish or re-establish your credit within the first 2 years. An installment loan versus a revolving credit is more effective in rebuilding your bad credit. Hence a bad credit auto loan is the next best thing to a mortgage. This is especially helpful for those who’s credit have suffered and are hoping to acquire a mortgage in the near future. The quickest way to rebuild credit is to get into an auto loan that provides a doable monthly payment.

 Rebuilding Credit Effectively

Rebuilding credit with a bad credit auto loan requires a commitment not only to your monthly auto loan payments, but to the overall health of your credit as well. Making sure that all obligations outside of the auto loan if any, are also being met. This means monitoring exisitng credit card spending as well as paying balances outstanding. The whole picture should reflect your intention to rebuild your credit In order for this to completely work for you. Only then will your reap the benefits of the lowest interest rates in the future. In other words, credit card balances should be paid off in full whenever possible. Avoid numerous enquiries during the process and limiting yourself to a maximum of two credit cards will also help in rebuilding credit.

Lastly, be proactive by acquiring the habbit of checking your credit report to ensure all credit reportings are accurate. This way you can witness and experience the feel good benefits of making your monthly obligations on time.

Apply now for a same day approval or click on the link for more information or a free consultation. 

Auto Credit Specialist Bad Credit Car Loans

Joanne dela Cruz
Auto Credit Specialist

Auto Credit Specialist For Bad Credit Car Loans

My name is Joanne dela Cruz and I’m an Auto Credit Specialist For Bad Credit Car Loans.  Over the years,I have helped many British Columbians acquire an auto loan.  From a variety of applicants with credit scores ranging form prime to non prime. Specializing in the non prime space  because of the growing numbers in bad credit car loan applications today. I can empathize with  bad credit applicants because I too have gone through a bad credit in my early years of adulthood, I know first hand the benefits of an auto loan as the quickest way to re-establish credit. If you’ve had an unforseen circustance that has resulted in your bad credit, then an Auto Credit Specialist can help you best with your auto loan needs.

Establish or Re- establish your Credit

 Establishing or re-establishing your credit is just part of a bad credit car loan .But in order to establish or re-establish your credit successfully, your monthly payments have to be in line with your affordability.  And yes, this is stating the obvious, but not so obvious when you are  making an emotional purchasing decision based on want and not need. This happens more often when dealing with a car salesperson who is unaware of your current credit issues. Its important  therefore to seek the help of an auto credit specialist  to get the balance between what you want and need in a vehicle and your affordability.

Applying with an Auto Credit Specialist

If you live in British Columbia, this is your one stop shop for an auto credit specialist  Not only do I focus on the best financing outcome for you, I focus just the same on getting you the right vehicle through our access to inventory with our dealer partners. Apply online  to get started or click here for a free consultation.

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