-- Press Release --
October 2005
Auto Financing
Auto loans for people with bad credit in Canada do exist. There are lenders who work with borrowers in with a bad credit history. Auto loans after bankruptcy can be obtained from these specialized lenders. Mr Approved has eliminated the hassle and the time usually associated with applying for a car loan with bad credit by carefully assembling a network of lenders that specialize in bad credit auto financing.
A Car Loan for Bad Credit
Your credit rating is affected by the following factors:
- Late payments
- High debt to income ratio
- Past bankruptcy
These factors are compiled and translated into a credit score that is used by lenders to determine the degree of risk.
High risk borrowers require a special bad credit car loan offered by specialized lenders. While many Canadian lenders charge more interest because, the likelihood of default is higher; lenders who have experience with bad credit car loans can often offer competitive rates. A higher down payment on auto loans for people with bad credit in Canada may be required but, again a lender that specializes in bad credit car loan may be able to work with you to reduce or eliminate the need for a down payment. Mr Approved has helped thousands of Canadians with bad credit obtain car loans with competitive rates and attractive terms. We are pleased with our successful record and look forward to helping many more receive an approved car loan.
Bad credit no longer prevents you from getting car loans in Canada. Almost anyone can get approved. Today bad credit auto financing is competitive requiring lender to compete for your business.
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