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Canadian car
loan with bad credit: low, low rates
Smart buyers negotiate up from the loan
value, for a Canada car loan with bad credit. Don't discuss a trade in
value until you get the best price on the car you want to buy and
are ready to apply for a car loan with bad credit. We'll discuss
this more below.
Dealer financing may or may not be the best
option for you. The single advantage of financing a car at the
dealership is convenience--you buy and finance the car at the same
place. The main disadvantage is the variation of interest rates,
since the difference between what the dealers "sell" you
the financing for and what they "buy" it from the bank
for, is their profit. For a car loan with bad credit, use one of
our money lenders.
Forget about a used vehicle's "asking
price." Smart used-vehicle buyers never negotiate down from
asking price, they negotiate up from "loan value." Loan
value is what most lending institutions will actually lend on a
particular vehicle. Your car loan with bad credit lender can tell
you this figure. For instance, if the seller is asking $7,000, but
the loan value is $5,000, you want to negotiate up slowly from
$5,000.
Don't discuss the
possibility of a trade-in until you get the best possible price
for your new car. Before buying a service contract, compare it
with the manufacturer's warranty. Don't pay extra for coverage you
may already have. Buying credit insurance is not required for a
car loan with bad credit.
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