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Getting a Good Car Loan with Low Credit Score in St. Catharines

Getting a Good Car Loan with Low Credit Score in St. Catharines

First, if your credit sucks, it is nothing to be ashamed of. Everyone would pay their debts on time all the time, but unfortunately, life happens, and for some of us, we are not able to get back on our financial feet. That's why we want to try and help you find a good car loan with low credit score in St. Catharines


We are not patronizing you. Over half of Canadians are $200 away from going bankrupt.


So, every two people you meet, no matter how “put together” they may appear, are just a few dollars away from having bad credit.


Having sucky credit is not a sin, but if you do not do something about it, then every time you need credit, you are going to fork over more money for the privilege of borrowing.


In addition, a poor credit score can make it difficult to buy a home, rent an apartment or even get certain jobs.


For these reasons, you need to start taking steps to repair the damage that was caused.


How to rebuild your credit from the ground up


Start the process by getting a free copy of your credit report; the links will take you to Canada's leading credit reporting agencies. (TransUnion and Equifax).


These reports will not be identical; each agency will track different specifics about your financial activity.


However, entries on your credit report can stay there for up to seven years, so it helps that you are taking steps now to repair your credit.


Should you come across any mistakes inside the credit report, you can get those items removed by contacting the agency through their dispute process.


These issues will not go away on their own and will stay on your credit report for seven years, so be sure to get them removed right away.


While working on getting all of the inaccurate information removed from your credit report, you should start taking proactive steps by paying off any accounts in collection or past due.


By bringing these accounts current, your credit score will start to improve; you just need to give yourself some time.


You should think about creating a budget if you do not already have one in place. This will let you track all of your inflows and debts; while reviewing your budget, take a look at how much cash you have available to service a new car payment.


Car prices are on the rise, so you must allow anywhere from $500-$1,000 to cover the payment and operating costs that come with the vehicle.


Getting the right professional support


It would not be wise to try and get a car loan with low credit score in St. Catharines on your own; there are many variables at play. Instead, we recommend working with a local car dealership.


The dealerships in St. Catharines will be able to give you advice on how to fix your credit and will also help you secure a car loan, even when other lenders have said no.


If you stick with our advice and reach out to a dealership right away, you will be able to find a great car loan with low credit score in St. Catharines.


We’d love to help you find the perfect car loan. Simply fill in the form below and we’ll get back to you ASAP! 


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    Categories: Auto Loan

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