Frequently Asked Questions
Bad Credit Car Loans Ontario Canada
What is a bad credit car loan?
A bad credit auto loan is a loan to finance a car for people with bad credit. - A used car loan helps keep payments low. - Regular payments will help fix your credit.
How much does it Cost to apply for an auto loan?
It`s Free to submit an online auto loan application.
What if I have Bad Credit?
We will advise and show you what needs to be done to help repair your bad credit and get approved for your auto loan.
What if I`ve Experienced Repossession?
We often help people that have and/or are experiencing repossessions to secure used auto loans.
What if I`ve Filed for Bankruptcy?
We can help you secure a used car loan even if you are going through bankruptcy.
What if I have Bad Credit or No Credit Record?
We specialize in helping people with bad credit, or no credit record, to get approved for used car loans.
What if I`ve been Rejected Before?
There is hope. Together, we can help match you with an auto loan lender. We`ll be with you every step of the way to show you what is required in order for you to be 100% approved*.
What Happens to my auto loan application once I`ve sent it to you?
We will review it and shortly thereafter, one of our car loan consultants will contact you to determine which auto loan program is best for you.
How Much will my Monthly Payments be?
Most monthly used auto loan payments fall in the range of $250.00 to $350.00 per month. Your car loan consultant will be able to provide a more exact number upon reviewing your budget and auto needs.
How Much will the Down Payment be?
This depends on how you structure your payments. You may choose to put zero dollars down; some choose to put up to $500.00 down.
Can I use my Current Vehicle as the Down Payment?
Yes, you can give in your current vehicle instead of cash down.
What Kind of Car can I get?
Car options depend on your monthly payments. We have a wide selection of vehicles to choose from. We can probably get you the car you want.
What about Car Insurance?
You must keep FULL COVERAGE insurance on all financed vehicles; as a result, we have a relationship with a used auto insurance specialist who will be able to help you.
What about a Used Car Warranty?
Warranty coverage is recommended for your car. We can help you choose and get the best car warranty option for you.
United Auto Credit recommends the following two companies:
Lubrico Warranty
Coast To Coast
* Approvals require proof of income and residence.