Don’t Overpay on Your Car Loan

When it comes to purchasing a vehicle, there are many factors to consider. One of these factors is the price that you are going to pay for the car. Most people choose to go with some form of financing or types of car loans. If you happen to get a loan, it’s imperative that you don’t overpay on it. Here are three tips on how not to overpay.

Be Careful With Monthly Payments

When you negotiate your monthly payments, you don’t always want to go for the lowest possible rate. There is always interest attached to a loan, you want to make sure that you are paying enough that you won’t be accruing more interest over time. This could force you to pay more for the car than you would have with a higher payment plan.

Be Careful With Long-term Loans

Similarly to the tip above, long-term loans can often force you to pay more for the car than you would have otherwise. Long-term loans get more money out of you. As a dealership, we don’t want to see your interest build up. The sooner you have your loan paid off, the better it will be for your future finances.

Be Careful With Fees

Often, with any loan, especially financing for a car, there will be separate fees attached. When it comes to your monthly payments, pay close attention to these fees before you make any decisions. You need to make sure that the payments are below your budget. You also don’t want to pay more for something that you don’t need.

Whether you’re purchasing your first car or you’ve purchased in the past, these tips should help you to make informed decisions to keep from overpaying on your loan.

The Best Car Loan For You

If you are thinking about buying a car but are not sure whether or not to buy a car using a car loan, then we are happy to share with you some of the many reasons why we think buying a car with a car loan is a wise choice for many of our customers. When our customers apply for car loans, they are sometimes concerned about issues related to their finances, such as bad credit, the loan amount that they may qualify for, and interest rates. However, there are many other factors that go into determining whether a car loan is right for you.

Here are a few things that you may want to think about when determining whether or not to get a car loan:

It helps you get a good car now

Many of our customers tell us that they are trying to decide between getting a good car with a car loan in Calgary or settling for a car that only meets their short-term needs that they can buy with cash. From a safety, long-term investment, and overall quality perspective, we generally encourage our customers to get a car loan that allows them to buy a car that will suit their long-term needs and current lifestyle. We can offer competitive interest rates that will help these customers to keep low monthly loan repayment amounts that they can easily afford – no matter how long they plan to keep the car loan.

You can refinance

One issue that comes up with many of our customers with bad credit is the fact that customers with bad credit generally have to pay greater interest rates and qualify for lower loan amounts. When customers have bad credit, we encourage them to go ahead and get the safe and reliable car – even if it means paying more for their cars now. A few years down the road, paying those loan repayments each month will result in a higher credit score. With that higher credit score, they can refinance their car loans in order to save money down the road – but they’ll still have that safe and reliable car.

It’s easy

Getting a car loan in Calgary is easier than some people might imagine. In fact, getting a car loan can be done in the same day that you apply – and you can begin the process from the comfort of your own home or office. Simply complete the credit application online to get started right where you’re sitting!

At Car Max Canada, your used car dealer in Windsor, we look forward to helping you get the best car loan for your needs. Contact us today to get started!

Finding the Best Pre-Owned Vehicle

Next to your house, your car is probably one of the most substantial investments you will ever make in your life. It’s important while car shopping that you explore all of your options and choose the absolute best vehicle that meets your needs without draining your budget in the process. Here are a couple of things to keep in mind as you shop.

With the cost of gasoline continuing to increase, you may wish to explore a more fuel-efficient model of car for your next vehicle. The cost of gasoline can make a substantial difference in the overall affordability of your car, especially if you have a longer commute or have other duties and activities that keep you driving around a lot in your free time. Some individuals can save hundreds of dollars each month by trading in their older, gas-guzzling SUVs and trucks and switching to a hybrid, compact car, or model designed for enhanced fuel efficiency. If you are tired of constantly stopping at the gas station and watching the numbers on the pump creep up and up as you refuel, it may be time to make the switch to a more economical used car.

Speaking of used cars, it is no secret that pre-owned cars are a great value—the consumer demand for affordable cars is partially why the pre-owned vehicle market is as robust as it is today. It’s critical when selecting a car that you choose one that fits well within your monthly budget. You also need to take other vehicle costs into consideration, including insurance, gas, tune-ups, and maintenance. If you do a substantial amount of driving every month, you’ll need to keep a particular eye on maintenance due dates to ensure you keep your ride driving perfectly season after season.

It can be easy to fall behind on routine maintenance like oil changes without adhering to a schedule or paying close attention to the odometer every month, so it behooves you to create a way of reminding yourself when maintenance is due.

What Kind of Cars Can You Get with Bad Credit Auto Loans?

Most people can relate to seeing a beautiful car for sale, looking at the price, then walking away in resignation at never being able to afford it. Not every single car in existence needs to be beyond your personal budget. In fact, car loans exist to help you afford the vehicles that you feel like might be out of your reach. As long as you can comfortably make the loan payments, there are a lot of options available to you, even if you have bad credit. What kinds of cars can you get with bad credit auto loans? It’s possible that you will be limited to used cars, but this alone provides so many possibilities.

Used cars have come a long way in the past decade or so. There are a lot of features that are available in used cars these days that people might have only dreamed about having in the past, such as GPS and rear cameras. When you purchase a pre-owned vehicle, you might be able to get your hands on great car options that would otherwise be financially out of the question.

Since a used car is simply defined as one that has been owned before, you can actually find cars that are relatively new. Of course, newer used cars are still going to be more expensive, but you may still be able to afford one with the right loan at the right interest rate. Pretty much any vehicle may be available to you so long as it is used and falls within a certain price range. That can be the nice thing about qualifying for a loan—it gives you a sort of budget.

If all you qualify for are bad credit auto loans, your auto options might not be quite as limited as you think. You might need to browse through the used cars at the dealership, but that still leaves all kinds of vehicles for you to consider. Keep in mind the amount of your loan to help you locate the used cars that are truly within your budget. It could surprise you what you are able to drive away with at the end of the day.

Shopping for Bad Credit Car Loans: Why Getting Your Credit Report Matters

When you have poor credit, no matter the reason, it can make shopping for a quality used car a challenge. Even though bad credit car loans may be available at dealers in your area, you may not know where to begin with finding one that best suits your financial situation. However, we are here to get you on the right track and to let you know why getting a copy of your credit report is the first step you should take.

You Can Get All the Facts

If you have poor credit, then you may hesitate to look at your credit report. However, ignoring it may get you into deeper trouble because it might result in you getting locked into a loan with very high interest because you assumed you had no other option. Getting a copy of your credit report will let you know exactly where you stand before you begin to compare bad credit car loans.

You Can Fix Errors

You cannot fix mistakes on your credit report if you don’t read it. Accounts you have paid off but are still showing as open, incorrect addresses or phone numbers and other errors may be lowering your credit score without you knowing it. Look over the report carefully and if there are errors, contact the reporting company to have them corrected.

You Can Be More Informed

Knowing your credit score and having updated information concerning your credit report may make you feel more confident when you search for loans. Even if some lenders do not require a credit check for poor credit loans, you will still be in control when it comes to knowing as much as possible about your credit. This may also be helpful as you look at different makes and models because knowing your credit score can help you remember what you can afford.

Obtaining a copy of your credit report is one of the most effective steps you can make before you start shopping for bad credit car loans. You can shop with more confidence and find the most affordable loan possible.

Is It Safe to Purchase Used Cars?

While you are getting ready to buy your first car, you may wonder if it is safe to buy used cars. After all, you may like the idea of being able to save a bit of money, but not if it is going to compromise your safety. It is often safe to purchase a pre-owned vehicle, but it will depend on who you are buying it from. Instead of purchasing a vehicle from someone on the street who is selling one that they used to use, you should check out our dealership.

When you decide to get your vehicle from our dealership, you do not have to worry about it breaking down on you just weeks after you have purchased it. Each car that we have available has been carefully examined and tested. We make sure that it is not only safe, but also clean and comfortable for you to drive home with if you please. In fact, most of the options that we have still look new on the inside and outside. Your friends and family would likely not be able to tell that it was ever owned by someone else if you did not tell them yourself.

As long as you are buying from our dealership, you are in good hands. The vehicle will not only be safe for you to drive, but will also be in excellent used condition. You may think that your choices are limited if you decide to get a pre-owned vehicle, but that could not be any further from the truth at all. While you are on our lot, it would be easy for you to notice that we have many makes and models available.

We certainly feel that it is important to have a little something for everyone, especially since each person will have their own preference when it comes down to what they will drive. If you are ready to get your first car, consider checking out the used cars that we have available.

Car Loans: 8 Things You Need To Know

If you are looking to get a car loan in the Calgary area, but have bad credit, we’ve got some news for you: you still qualify for a bad credit car loan. It’s important that you get as much information as possible about car loans before taking out a bad credit car loan, so we’ve assembled 8 facts about bad credit car loans that can provide you with a general overview. Contact for details about bad credit car loans or for more information:

1. Everyone qualifies for a bad credit car loan with us – even if you have had a bankruptcy or have no credit at all. All of our customers should have equal opportunities to finance their car purchases, so we won’t turn anyone down from a bad credit car loan.

2. You have options. We will offer several options to each customer so that the customer can select the right bad credit car loan package that’s right for their unique needs.

3. You can get a bad credit car loan for a used car, or a used truck or minivan. Our car loan program is designed to help you by any used car you’d like.

4. It often takes people several years to repay their bad credit car loans. Speak with our lenders to determine exactly what type of loan program you will use. Your choice of loan program will determine the duration of the program.

5. You may pay a higher interest rate for a bad credit car loan than someone with good credit. However, because of the options that we provide, you should be able to find a bad credit program that suits your particular budget.

6. You can always refinance your bad credit car loan. As long as your repay your car loan and rebuild your credit, you will have the option of refinancing your bad credit car loan down the road. Contact us for details.

7. You can apply for a bad credit car loan online using our secure credit application.

8. It’s recommended that you complete a credit application for a bad credit car loan prior to looking for a car. By completing the credit application, you’ll know more about how much money you’ll be able to spend on the car. Therefore, completing the car loan application is the first step for many customers.

Contact us today to learn more about bad credit car loans and car financing in general. We’re always happy to help you get the right car at the right price!

Making the Right Financial Choice With Used Cars

When you do not have a great deal of money, but you are in desperate need of a vehicle, you might feel like your options are limited. This is especially true if you do not have the most ideal credit score. Luckily, there are many different ways for you to be able to get around these obstacles. Looking into used cars can help you to understand just how much you can save when you take time to do enough research.

Find Your Dream Car

There are hundreds upon thousands of different car types out there for you to explore. Most of these vehicles can be found used, which means that you are not going to have to worry about settling for a car that you do not like. Hunt down the right used cars for your needs and be impressed by how affordable the prices are. On average, most used cars sell for several thousand dollars, which can be a real boost to your confidence.

Find a Financial Plan

On top of the affordable prices of used vehicles, you might also be excited to learn that there are plenty of financing options available as well. The reason for this is quite simple: most lenders see financing used cars as a perfect reason for a short term loan. Whether or not you have great credit, you might be able to qualify for some of the more sensible financing options that are out there. Reach out and see who offers financing for the type of vehicle that you have been looking. Make contact and see what the terms and conditions of the financing might be. The more you learn, the easier it will be to feel like you are making the right moves.

If you are looking to drive a car, but are worried about your finances, you can do yourself a favour by looking into used cars. With enough research, you will easily be able to see all of the benefits of choosing this choice for your needs.

Your Guide to Securing an Auto Loan With Ease

Securing any type of loan is not easy, and securing an auto loan is no different. The process for securing the funds you need to purchase a vehicle can be time consuming, convoluted and downright frustrating. However, if you keep in mind the following advice before shopping for car loans, you can make the car buying process much less of a hassle.

Know Your Credit

A higher credit score means better interest rates, so if you have a good score don’t be afraid to brag about it. If the lender thinks that you’re unware of just how good your credit score is, they may try to undermine you by offering just average rates. Don’t let this happen, and make it clear from the get-go that you expect prime rates for a prime score.

If your credit score is not so great, don’t worry—you’ll still be able to get an auto loan. However, you may have to pay higher interest rates, so just take your time shopping around for the lowest rates your credit will buy you.

Set a Budget

Just because you have a great credit score does not mean that you should shop outside of your means. The dealership will probably try to convince you to take out more than you can afford because your credit can support it, but don’t do this. To set a realistic budget, add up all of your monthly expenses, including how much you plan to save each month, your yearly tax obligation and any other annual fees you have (property taxes, health club, etc.). Subtract the total from your annual salary and that is how much you can afford for a vehicle.

Show Up With a Down Payment

An ample down payment is the best way to reduce the amount you need to borrow and therefore, to make you more a more desirable borrower in lenders’ eyes. The less risk you pose the better, and a nice down payment is a sure sign of a safe debtor.

Car loans aren’t impossible to come by—just difficult. If you want to eliminate the hassle of car shopping, try the tips above.

Ways to Improve Your Credit Score

Your credit score is important. A credit report will likely be run on anyone applying for car loans. This report can help determine how much money you’re capable of borrowing and also the interest rate you’re awarded.

If you’re in the market for a car, it may be important to check your credit score before applying for a car loan. If your credit score is less than ideal, don’t panic! There are several ways to improve your credit rating. Some methods take longer than others before you start seeing results, so it’s important to stay focused and patient while you watch your score improve.

Make Timely Payments

One of the most important ways to improve your credit score is to make timely payments on existing loans. If you have a history of late payments, do everything possible to make the payments by the due date. Most credit card companies will allow you to change your payment due date. Use this to your advantage and structure payments around your pay schedule.

Pay Off Existing Debt

Lenders often look at your debt-to-income ratio when determining how much you’re qualified to borrow. If you have a considerable amount of outstanding debt on your credit report, perhaps consider getting a temporary second job and using the funds to pay off the existing debt you’ve acquired.

Open a Credit Card

If you’re a young person or are new to credit and borrowing, you may not have enough credit established to apply for a loan on your own. In this case, opening a credit card (and making all payments on time) can be a great way to establish some credit.

Credit is an important aspect of your financial well being. Making timely payments, paying off existing debt and establishing credit when you’re young are solid ways to improve your credit score.