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Where to get a Bad Credit Car Loan in Stoney Creek

Where to get a Bad Credit Car Loan in Stoney Creek

Having bad credit will make buying a car more difficult, but there are options available to you. So, stick with our  auto loans team to the end of this conversation, and you will have the information you need to realize your goal of finding a bad credit car loan in Stoney Creek.


Importance of keeping track of your credit score


Our credit score consists of 3 digits, but it impacts our ability to rent an apartment, get certain types of jobs, and even what type of vehicle we drive.


You need to track your credit by signing up for Credit Karma and other similar apps that let you monitor your credit in real-time.


If there are errors inside your credit report, it will bring down your credit score.


You would be amazed by how often errors happen, and while there are proper channels you can go through to correct these errors, it takes time.


The items inside your credit report will stay there for seven years, so you need to take a proactive approach when dealing with these errors.


If there are no errors in your credit report, you should prioritize the accounts, starting with those that are either past due or in collections.


Missed payments and accounts in collections are the main reasons a person will have bad credit.


Carrying excessive amounts of debt can lead to issues, but your repayment history is what will make or break you.


Budgeting your path to a better credit score


We have established the root cause of your bad credit score. Now, you should create a budget and put more cash towards paying the accounts that are past due.


This can seem difficult, especially if it is your first time preparing a budget. Take a deep breath; you can open up a spreadsheet and list all of your income sources, and in another column, list all of your debts, including the past due accounts.


You can then earmark funds towards those debts and also see how much cash you have available for your car loan.


If you don’t have a considerable amount of cash to put towards your car loan, look for ways to save money in your budget or take on a second job to boost your income.


How to quickly find a Bad Credit Car Loan in Stoney Creek


While you are waiting for your credit score to improve, you can still purchase a newer vehicle.


However, since the average new car will easily set you back $50,000, you will not be able to qualify for a new car loan with bad credit.


Your best option is to get a used car loan with the help of a car dealership in your area that specializes in this type of financing.


When you meet the representatives at the dealership, they are going to take a closer look at your finances and select the lender that will give you a chance.


The dealership will already have cars in their inventory, so you can test drive them until you find the one you like the most.


We all need a car to lead a normal life in Canada, and now that you know how to get a bad credit car loan, you should drive down to your local car dealership today.


We’d love to help you find a bad credit car loan in Stoney Creek. Simply fill in the form below and we’ll get back to you ASAP or see our selection of new and used cars at our Burlington dealership. 


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