Having bad or no credit doesn’t have to stop you from getting an auto loan approval. Interest rates in Ontario vary based on the applicant’s credit history, but having bad or no credit doesn’t automatically disqualify you from getting a good interest rate on your car loan. Make sure you choose a reputable auto loan company with a proven track record of getting its bad or no credit car loan customers the best interest rate possible for a safe and reliable vehicle.
The interest rate for a new car can be as low as 0% and rates typically start at 4.9% for used vehicles. For those individuals with bad or no credit looking for a car loan, interest rates will generally start higher than 4.9%. However, many customers are able to refinance their auto loan at a prime rate after 12 to 18 months of on-time car loan payments. This excludes customers who have additional reports of damaging activity on their credit bureau.
Customers who have filed for bankruptcy, a consumer proposal or any other debt relief program can also expect a higher than average interest rate, because they’re deemed to be “high risk” according to lenders. Even though your initial interest rate may be higher, we’ll ensure that the car loan payments are manageable, so you won’t miss any payments and will be able to rebuild your credit faster.
Auto Loan Solutions is an established auto loan company, specializing in getting bad or no credit customers the lowest possible interest rates from the start. Our friendly staff will work with you every step of the way to ensure your new car loan meets your needs and fits within your budget. If you’d like to estimate your monthly or bi-weekly car loan payments, please use our car loan calculator.
If you have any questions regarding bad or no credit car loan interest rates, contact us to see how our Finance Managers can help you get approved for a great car loan at a low interest rate today.
Delivery was very good, on time and professional. Brian and Nathan are just simply the best. They went above and beyond for me to get my first car. Th...
They were good. Helped to get a great car for me and my family. If I need another car, I will know where to go. Great job guys.
From the beginning, the experience was with ease and without pressure. Everyone I dealt with was kind and knowledgeable.
Wonderful!! Julian is terrific explained me very well. Nice job Julian! Help it up!
Great service, quick and easy, very satisfied.
Awesome. 5 stars. 😉
Drivers were very polite and helpful. He was great to work with and kept in contacting with me about the meeting up time.
Super job. Very efficient and kept us informed throughout the whole process. Thanks!
From the name itself "Destiny". He gave us a 200% assistance on what we need. Customer service is definitely worth every penny we are paying. And look...
Steven was very patient and helping me into a vehicle. Very pleasant and kind in everything. He's done for me. Five stars.
Very happy with the deal. Everything was good. We thank you for the new car
I am very happy with my experience with Auto Loans Solutions. From strat to finish, Sasha was my agent. She looked after everything. I could not be more satisfie...