About Bad Credit Car Loans

The most common forms of financing a car, truck, SUV or crossover is a car loan or lease of vehicles. The loan can be for an extended period of time – some loans can be for as long as seven years!

When financing a vehicle with a loan, it is very important to understand how the depreciation calculations. In most cases, the loan repayment period are the same and the loan will be paid to $ 0 when the loan term is complete. Sometimes, however, the loan is for a shorter time period as 60 months, with a repayment term of 72 months (ie 72 months would be required to pay $ 0). This is done to reduce their payments, but was left with the outstanding balance if the loan has been completed must be saved to pay now or be able to refinance.

You should make sure you understand the repayment terms before entering into any loan agreement.


Traditionally, when banks and other funding sources would not finance a car client, dealers will support, “buy here, pay here ‘base. This was done both in the form of a loan or lease. If the bank was not well established, it had enough financing lines and / or wanted to take on less risk, primarily to offer older vehicles, often with very high mileage, which cost less and take less financial risk.

There are still many dealers offer their own financing, including credit Ezee, except that the vehicles and the terms offered may vary dramatically.

Ezee Credit is well established multi-million dollar credit lines. This means we have the ability to provide the later model, low kilometer vehicles that we believe offer the best value and significantly increase your chances for performance and improving your credit. We think it also makes commercial sense, getting into a vehicle that will be a pleasure to drive and pay.

Free No Obligation Car Loans Bad Credit Auto Application


In recent years, there have been a number of lenders in Canada that offer bad credit auto loans. These lenders usually finance through distributors instead of dealing with customers directly. While these lenders may appear the same on the surface, there are some important differences:

* How will finance (including negative equity).
* The frequency of payment that will allow (monthly, weekly, biweekly, etc.).
* The age (model year) vehicles to be funded.
* The term and repayment of loans they offer.
* Interest rates available.
* If the initial payment will be required.

Each organization has its own unique approach to the evaluation of a client’s bad credit. Some lenders are more focused on credit ratings, such as a level of Beacon with a limited focus on employment stability. Others go deeper into the type and timing of bad credit that the client has experienced, if that’s a bankruptcy, the proposal or the earlier recovery. This credit rating helps to make the type of authorization you qualify.

Auto Source has relationships with bad credit lenders that he believes offer the best value, rates and conditions for their clients, including funding for new models, lower vehicle miles Auto Source preferred.

Free No Obligation Car Loans Bad Credit Auto Application

Financial Disclosure

Whether you choose to finance your vehicle, you are entitled to full disclosure of the loan or lease under the Consumer Protection Act (Ontario). This will include dissemination of information on the amount financed including interest rate and total cost of loans.

If a distributor does not provide this information before you are asked to sign an agreement, insist on it. You are entitled to make an informed decision.

Ezee Credit With years of bad credit lender and experience, we can assess their own unique situation and credit history. This allows us to note that lender to send your request to the highest probability of success in achieving its objectives in the best possible conditions often with $ 0 down payment. In the end, trying to get approved for the car you want with a payment you can afford.

Each credit lenders Auto Source selected, as well as our own in-house financing, must regularly report to Equifax and / or credit reporting agencies TransUnion will help reestablish your credit as you pay for your vehicle. This is not always the case of certain providers or merchants that are funded.

Our approach also limits the need for “more shopping” your credit by sending your request to several lenders. This approach can further damage your credit.

Sometimes lenders are willing to grant a loan for a term longer than the vehicle realistically going to last. This is especially the case when the older vehicle miles or you are an unusually high mile driver. The longer-term or repayment period, resulting in a lower payment that can be attractive at first. But you could end up paying for a long loan after the vehicle is not road worthy. Or worse, defaulting on loans and the deterioration of its credit rating on a car you can not even drive!

With a bad credit lease, payments are lower than a loan for the same period of time because they are not obliged to pay for the expected future value of the vehicle when the lease is done. Instead it often gives the option to purchase the vehicle at the end of the lease or you may decide to get a new vehicle.

Auto Source offers auto loans bad credit and bad credit auto leasing so you can choose what works best for you.

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