Finding A Car Loan After Bankruptcy….It is Possible

1. Bad Credit Car Loans

2. Bankruptcy can be a difficult event for anyone in those circumstances. Regardless of the amount a person goes bankrupt for, you are still able to get a car loan after bankruptcy if you know where to look. There are numerous Canadian Car Loan Dealerships that specialize specifically in bad credit financing options for those looking to purchase a vehicle. 

3. Things to Remember when Purchasing Vehicle after Bankruptcy • Contact Equifax and ensure that your credit report does not have any inaccurate information. You want all the accounts that you have included in your bankruptcy to show that they have been included and other trade lines that aren’t included are up to date. • It is very important that you set a budget of how much you are able to afford a month. Setting this budget will help you have a payment that you are able to manage. This will hopefully assist you in not going down the bankruptcy road again later in life. • Many dealerships have special financing departments. Car Loans Kingston ( located in Kingston Dodge, 1429 Princess St) is the best special financing department in Kingston. We go to work for our customers to ensure they get a vehicle that need, at a payment they can afford, at the best rate they qualify for.

4. 4. The interest rates that you can expect to pay after a bankruptcy are not going to be low. Must loans after bankruptcy are in the 20-29% range. However, keep in mind that after a couple of years of making your payments on time, you could qualify for a lower interest rate and be able to get into a newer vehicle. Car Loans Kingston explains to this to every customer that sits in front of us. 5. You should be careful and compare offers before jumping into one. Don’t Jump into an arrangement only to learn later that you were charged a ridiculous interest rate when you qualified for a lower one. Applying for a loan after a bankruptcy does take time, as you need variety of documentation to ensure you are able to afford a car payment ( verifying income, bankruptcy documentation) Please note all documentation is confidential and only shared with Car Loans Kingston and the financing institutions they use.

5. Credit rebuilding programs are frequently available from large dealerships. Car Loans Kingston assists you in rebuilding your credit by getting you into a vehicle that best suits your needs but still is a payment you can afford. Obtaining a car loan after bankruptcy can be the first step in rebuilding your credit. Once you have received a post bankruptcy auto loan, it is critical you make timely payments. Apply today at Car Loans Kingston and get connected with a reputable company who is wanting to build a long term relationship with you. http://www.carloanskingston.ca/