How To Get A Car Loan With My Bad Credit History?

Bad credit is more common today than you think, with our growing debt in everyday life. The frequency of divorce, bankruptcy, late or slow bill payment is on the rise. We are here to help you rebuild your credit and financial future in Edmonton. Let us show you the best ways to correct past financial mistakes with the help of our experienced loan specialists. There are many credit repair programs out there today that offer their services to teach the principles of good management of debts. At Londonderry Chrysler we specialize in getting you the right loan for your next vehicle even with bad credit history. We have helped hundreds of clients in the Edmonton, Fort McMurray and surrounding areas, apply for your instant approval today!

Here are few common scenarios where your credit score could be affected.

Divorce
Bankruptcy
New To The Country
Late Or Slow Payment
Self Employed
Recent Graduated Students
Retirement
Living With Disability
Bad Credit Car Loans Edmonton
Bad Credit Edmonton
Bad Credit Car Loans Edmonton
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How do I improve key loan factors to get a car loan?

Credit Score Target: 640
How to meet this target?
Pay your bills on time for at least 6 months
Do not apply for unnecessary applications for additional credit
Reduce your debts to below 50 percent of the credit limits
Clear inaccuracies from your report

Debt-to-income ratio or DTS target: 25-30 percent

How to meet this target?
Pay off as many small loans as possible.
Reduce your credit card balances as much as possible
Increase your income by co-signing with your spouse

Loan-to-value ratio target: under 80 percent

How to meet this target?
Increase your down payment to at least 20 percent of your new car's value
Negotiate to reduce the price with the dealer
Select a less expensive car to purchase to reduce cap cost

Londonderry Dodge Chrysler Jeep is here to ensure you get your credit back on the right track, and in the process you can drive home in your new vehicle.