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Guaranteed Free Car Loans Approved in Nova Scotia

Tips for Buying a Car

One of the biggest considerations you will have when purchasing a car is whether to buy a new or used vehicle. While there is no right or wrong answer, your decision might depend in part on how you feel about the following considerations:

  • How important is it to you to have a low-maintenance vehicle? A new car will be covered by a warranty for a longer time, and will probably require fewer repairs than a used car.

  • How comfortable do you feel buying a used car? While there are many excellent pre-owned cars for sale, this type of purchase should consider an extended warranty

  • How long do you expect to own your car? If you plan to trade your car in every few years, you may prefer the benefits of a new car.

  • How much can you afford to pay? A pre-owned car can cost considerably less than a comparable new one.

Financing Your Vehicle Purchase

Depending on whether you buy used or new, and the type of automobile you buy, purchasing a car can be a major investment.

There are several ways to finance your purchase, which can make it easier to afford a car.

Car loans Dealer Financing - With a car loan, you borrow the full amount of the purchase price and pay it back over a predetermined term, typically one to five years, but as high as seven. We offer good credit and bad credit car loans.

Automobile Leasing - When you lease a car, you donít actually purchase it, it's more like renting it. Lease payments are often lower than loan repayments for a vehicle of the same value. At the end of the term (typically one to five years), you have the option of returning the vehicle to the dealer or leasing company, buying it for the price set out when you signed the lease. If you have driven more than the amount of kilometres declared in the lease contract, youíll be charged a penalty. Keep in mind that leasing is normally only available for new or slightly used cars and not for older models.

Things have been better for those seeking bad credit car loans. In Nova Scotia, lending institutions and private lenders have begun to offer products that specialize in bad credit car loans for those with credit problems. The good news is that these products focus more on your ability to repay a car loan rather than on past or bad credit history. The result? Institutions and Lenders competing for bad credit car loans.

With increased competition comes lower Annual Percentage Rates (APRs). In essence, borrowers - even those with bad credit - can now access very competitive new and used car loan rates with flexible repayment options, usually pre-approved on the spot!

The beauty of these programs is this: while getting back into a vehicle and driving, youíre also rebuilding your credit history!

Many of these bad credit car loans do not require any security or down payment; however, the ability for you to provide a down payment helps to lower your rate of interest and monthly loan repayment amount.

Tips to Securing a Bad Credit Car Loan

The following tips will help you to not only secure the best car loan for you, but will also help with the next step; how to lease or purchase a car.

Evaluate Car Cost

Evaluate the cost of the car you wish to buy. In the case of older cars Ė 4 to 6 years old Ė itís wise to check the market value. A simple way to do this is by checking to see what your desired car has sold for on Ebay within the last few weeks.

Choosing a Bad Credit Car Loan Provider

Once youíve determined the market value, and depending on the amount of finance you need, itís time to choose a car loan provider. There are hundreds of online auto loan companies, all making it easy to submit online car loan applications. But choose carefully. Consider using a company that is affiliated with credible organizations.

Used Car Insurance

Youíll need insurance. A reputable car loan provider will have relationships with insurance providers that specialize in insuring new and used cars, and should be able to provide you with a free, no obligations quote.

Extended Car Warranty

Protect yourself: Depending on the age of the car you want, there may be time remaining on the original warranty. Before it expires, consider an extended warranty to cover you against the cost of major repairs down the road. A reputable used car loan provider will be able to offer you an Extended Warranty.

Used Car Safety Data

Vehicle safety ratings, crash-test results, recalls, customer complaint data and other important safety-related information can be provided by a reputable car loan provider.

Nova Scotia Car Financing offers you a vehicle regardless of Credit History.