Best Vehicles for Subprime Financing

Subprime Vehicles Calgary

What vehicles are best suited for Subprime Financing

Featured Vehicles for Subprime Financing in Calgary

You need to understand that subprime lenders do not view all vehicles with the same selling price the same way. Imagine two $13,500 vehicles: The first is a 3-year-old commuter car with 36,000 kms and the other is a 8-year-old sporty convertible with 110,500 kms. Even though both vehicles are the same price, a subprime lender may approve a loan on one vehicle and not the other. A subprime lenders is more likely to approve the newer car with fewer kilometers.
The reason for this is the overall value of the vehicle.

When shopping for an auto loan the general rule of thumb is choose a vehicle less than 3 years old that has a high resale value and below average kms. The other consideration is selling price. Vehicles under $22k are the best option for subprime candidates otherwise your monthly payment may be too high.

In the third quarter of 2014, subprime and deep subprime buyers made up 32 percent of used car loans, and a bit more than 10 percent of new-car loans.

Featured Subprime Vehicle #1

Used 2015 Toyota Corolla LE

Used Toyota Corolla Subprime Finance

The eye-catching 2015 Corolla features an impressive sleek and dramatic design that is sure to turn heads. With only 33,448 kilometers this Corolla LE offers comfort, space and unparalleled Toyota reliability.

This vehicle would have a high probability of getting approved for subprime financing because of its year, brand and resale value.


Subprime lenders use a complicated formula when deciding which cars to finance, and the criteria can vary among banks. The vehicle’s age, mileage, history and the buyer’s credit history all play a role in what will be approved. So if you’re approved for financing, you may have to pick a car that gets a lender’s OK, and it might not be the one you had your eye on. Prepare to be flexible. Also, that high interest rate you’re going to pay may sting, but remember that for many buyers who are rebuilding credit, it’s temporary.

Featured Subprime Vehicle #2

Used 2014 Scion xD

used scion xD calgary subprime financing
Style and substance is what the Scion xD is all about. Wrapped up in a package that’s fun, practical and affordable. This automatic equipped, pre-owned xD comes with only 30,109 kilometers and delivers efficiency and fun.

This vehicle would have also have high probability of getting approved for subprime financing because of its age, and good sticker price.


Keep your Head Up

Generally, if somebody has made good payments for 18 months, assuming the customer hasn’t created new credit problems, then there may be an opportunity to get a lower interest rate

Your options could be trading in the car after you’ve established a good payment history and buying a different car with a lower interest rate. Or, once your credit is on a better footing, you could refinance the loan at a lower rate with a different lender.

Featured Subprime Vehicle #3

Used 2015 Toyota Camry LE

Used Toyota Camry Subprime FinanceGet this used Camry at for a great price. When it comes to comfort, Camry goes far beyond expectations, offering a new level of modern refinement. This premium pre-owned Camry comes equipped with a host of great standard features and very low kilometers.

This would be an awesome choice for a customer with bad credit. Firstly it is a great car but it is like new! So you can enjoy the benefits of warranty and be worry free.


Fifty-four percent of used car buyers in the third quarter of 2014 had credit scores below 660.

Bad Credit Categories

Borrowers with scores below 660 are seen as more of a credit risk, and can be grouped into one of three categories, based on score:

  • Nonprime: Borrowers with scores between 601 and 660
  • Subprime: Borrowers with scores between 501 and 600
  • Deep subprime: Borrowers with scores below 500

Leave a Comment


We specialize in financing no credit, bruised credit or bad credit auto loans in Calgary Alberta.