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Bad Credit Car Loans After Bankruptcy | Burlington Hamilton Oakville

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Bad Credit Car Loans After Bankruptcy | Burlington Hamilton Oakville

 

Post
bankruptcy, credit can be very hard to come by. Affordable credit even more so.
That makes getting a car or upgrading your old one harder than it should be.
However, get a bad credit car loan with a quality dealership network such as
Car Nation Canada and all that could change.

The process
of rebuilding your credit score and finding your way back to affordable credit
begins with us. We work with Carloan4you to find the lowest possible price to
borrow the cash you need to get moving again. Whether you need a car or want to
replace your old one, we can help.

Things you
can do to improve your chances of being accepted for a bad credit car loan
include:

Tidying up your finances

Making sure
you’re paying what you need to pay and not leaving creditors hanging is the
best way to begin rebuilding your finances. Prioritize expensive and important
debt first and make sure everyone is getting paid, or has settled for a
repayment plan that you can afford.

Demonstrating
to a lender that you now have everything under control and understand the importance
of paying what you owe will go a long way to helping you rebuild.

Address your credit
history

If you’re
paying everyone off, your credit score will already be back on the way up, but
there is more you can do. Adding explanatory notes can help build a picture of
what has happened and why you’re in the position you’re in.

It won’t
sway a decision in your favor on its own, but it can add a context and
back story to your current situation which always helps. This is especially true
for anyone who is in this situation through no fault of their own. Even badcredit car loan companies will take that into consideration.

Be realistic about what
you can afford

Lenders of
all flavors are wary of lending someone more than they can afford to repay
after the credit crunch. Being able to demonstrate clearly that you can afford
any outstanding debts, your other outgoings and a bad credit car loan will go a
long way to getting that acceptance.

Having
tidied up your finances and set out a clear plan to repay all you owe is the
first step in finding out how much you can afford. We can help you decide how
much you can comfortably afford on a car repayment but it’s a useful exercise
to do yourself too.

Car Nation
Canada has helped thousands of people receive a bad credit car loan at
affordable rates. If you need credit for a new car, visit us today and we could
help you too!

Categories: Finance

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