Get a car loan at CA Lending® during the month of December and become eligible for up to $1000 in savings on your vehicle. Whether you have good credit, bad credit, had a bankruptcy, or are in consumer proposal, CA Lending® will provide you with an auto loan that is manageable and affordable. CA Lending® will also be open and providing car loans during the Christmas holidays with huge savings. But don’t wait, because these offers are only good until December 26, 2013. So Apply Today and get Approved!
Monthly Archives: November 2013
Fixed Rate Car Loan Or Variable Rate Car Loan?
A ‘fixed rate’ car loan‘s interest rate remains unchanged or ‘fixed’ for the full term of the loan whereas a ‘variable rate’ car loan‘s interest rate can go up or down depending on the prime lending rate. So if the prime lending rate is 3% and your auto loan is 4% over prime then your car loan interest rate would be 7%. If the prime lending rate should happen to rise form 3% to 3.5% then your car loan interest rate would be 7.5%. CA Lending® offers both ‘fixed’ and ‘variable’ rate car loans whether you have good credit bad credit, had a bankruptcy or are 6 months into a consumer proposal. Apply Today and get Approved!
3 Common Mistakes People Make When Applying For A Car Loan
Here are 3 common mistakes that people make when trying to obtain a car loan:
1. Applying for an auto loan at several companies may seem wise but it’s important to deal with a company that is reputable and handles your credit application responsibly. A lot of places generate several unnecessary credit inquiries through themselves and their affiliates without regard for their clients’ already poor credit, and making it even worse.
2. Some websites are simply designed to obtain your your information just so that they can sell it for profit to other companies in order to sell you stuff or worse steal your identity to commit fraud against you.
3. A lot of people that have poor credit or had a bankruptcy or consumer proposal have unrealistic expectations about the car they want versus the car that they should get. It is important to be reasonable and get a vehicle that will minimize your insurance costs so that you don’t fall into the same pattern that got you here in the first place.
Avoid these 3 common mistakes you will be on your way to rebuilding your credit.
CA Lending® Now Offers Guaranteed Auto Protection (GAP) Insurance With Your Car Loan
GAP Insurance is also known as Guaranteed Auto Protection (GAP) within the Canadian and U.S. car loans industry. GAP insurance covers the difference between the actual wholesale value of a vehicle and the balance still owed on the auto loan, which must be paid in full right away or rolled over into a new car loan. Sometimes GAP insurance is a requirement for a car loan but that depends on the actual customer and the downpayment provided for the car loan. At CA Lending® we highly recommend GAP insurance seeing first hand the thousands of dollars it’s saved for our customers. Protect your auto loan, buy GAP! Apply Today and get Approved!
Should I Get A Car Loan With Bad Credit Now Or Should I Wait For My Credit To Improve?
Getting a car loan from CA Lending® now would be the best and quickest way to drastically improve your overall credit score. For example if you wait a year without obtaining any new lending products (eg. Auto loan, VISA, MasterCard, etc.) then lenders have nothing to rate you on except your most recent credit, which is a year old and poor. Lenders are more interested in your borrowing and payment habits for the last 12 months when making lending decisions. So although the cost of obtaining a car loan now may be great, the cost of not obtaining a car loan now will be substantially greater. Apply Today and get Approved!