You are not a bad person, just because your credit is damaged
There are many Bad Credit Car Loan options in Calgary, but not all are equal
Fear, uncertainty and shame. Just some of the emotions that go through your mind when it comes to buying a car and you know you have bad credit. You may have made some bad choices with money in the past, or lost a job when you didn’t expect it or maybe you are just graduating from school and trying to join the workforce. But one thing is for certain, unless you are one of the lucky few that the bus and train lines work perfectly for, you need a car in Calgary.
Decide what features you need in your car
Do you have a family? Just the three of you, or is it more? Is there more on the way? Will there be? Or do you just need a fuel efficient two seater to get to work? Or are you wanting to look super stylish? What about a weekend warrior who needs to transport all of your gear into the wild? Or a working professional that needs to be able to move stuff while being presentable?
If you don’t know what you need from your car how can you be certain that you find the right one?
Look at your budget how much can you afford
If you have bad credit then your monthly payments are something you really need to keep in mind. Sit down and figure out two values the first is how much you would like to pay and be realistic here, $0 a month is not an option as much as we would all like it to be. The second is your ‘skin of your teeth’ max budget. This is your line in the sand and you cannot cross it!
The other budget item you need to look at is your down payment how much can you do right now? How fast could you build it up? Down payments can be hard to build but will make buying a vehicle so much easier.
But it still needs to be reliable and dependable. The only thing worse than a broken down used car is a broken down used car in the middle of a Calgary winter. You need your ‘new’ used car to be dependable, after all what is it for but getting around? Plus if you have bad credit you may not have the money for excess maintenance.
Start looking online for cars that meet your needs in the budget you want
Now comes the hard part finding that perfect used car by looking through lots of Calgary used car dealer websites, showrooms and classifieds trying to find that diamond in the rough. Keep in mind that list of requirements you did up before. Are there any that you are willing to bend on any that you cannot? Once you have looked at more cars than you care to admit you have hopefully found your perfect car!
Contact your bank to see if you can get a loan
Now it is time to contact your bank and see if they will give you a loan. This is where we at CALGARYDRIVES can really help, we have relationships with all of the major lenders and will work with them to find the perfect loan to go with your perfect used car. And as an extra bonus CALGARYDRIVES will help you build up your credit rating.
Go into the seller and buy your car
Now that you have the car picked out and the loan sorted it is time to go pick up your ‘new’ used car.
APPLY FOR YOUR CAR LOAN