Buying a car with bad credit
Buying a Car with Bad Credit
Buying a car with bad credit can be difficult. A low credit score indicates that you struggle to fulfill your obligations to creditors. However, poor credit or a lack of creditworthiness doesn't have to prevent you from purchasing a quality vehicle. At Airport Mazda of Toronto, we offer financing solutions to those with low credit or no credit so that they can get the car of their dreams and rebuild their credit while doing so. It's a win-win! Browse our new inventory online to pick your favourite model and start owning a vehicle and rebuilding your credit today!
Top Tips to Consider When Applying for a Loan with Bad Credit
Understand Your Budget
If you're planning to buy a car soon, the first thing that you want to do is determine how much you can afford to spend. Doing so will help you narrow your search to cars that you can acquire without creating a financial hardship.
Get Pre-Approved
If you need a loan, it's essential to get pre-approved for financing before heading to the dealership. Taking this step saves time by ensuring that you have the money needed to complete a transaction before you start shopping for a vehicle.
Set Aside a Larger Down Payment
Making a down payment of more than 20% of the car's purchase price may make it easier to get loan approval. The lender knows that you are invested and less likely to default.
Decide on a Cosigner
A cosigner can generally be any adult willing to make payments on your behalf if you default on your loan obligations. Cosigners can typically be anyone who meets a lender's credit requirements.
Choose a Dealership That Supports You
Dealerships such as Airport Mazda will work with you to obtain loan terms that fit your needs and budget. It may be possible to apply for a loan online or at the dealership.
Finance With Us!
Visiting our finance centre may be the easiest way to get a vehicle loan quickly and conveniently. There is a good chance that we can get you approved for a loan even if you have poor credit or don't have a credit history at all. We encourage you to contact us to learn more about our convenient payment plans, interest rates, and other terms.