1.877.622.2252

You qualify, if you:

  1. Are over the age of 18
  2. Make more than $1400/month (before taxes)
  3. Have a valid driver’s license (G1 now accepted)
  4. Have the desire to rebuild your credit
  5. Have no other inquiries on your credit bureau (mortgage, credit card, loans, etc...) while our financial lending institutions are reviewing your file

What we do:

Our Credit Experts specialize in getting you the best car loan in Ontario at the lowest possible rate.

Apply today and you can be driving in less than 24 hours, it's that fast!

Why us?

It is our mission to deliver our services in an honest, forthright and caring manner.

Our friendly staff will explain all your options to you and answer any and all questions you may have.

5% Guaranteed Rate Reduction!

Not only will you get a car loan, regardless of your credit history, but we will guarantee you a rate reduction of 5% when you next trade-in your purchase!

Follow our “Fast Credit Program” and you will be on your way to Good Credit in no time.

Fast Lane Credit

Ottawa, Cambridge

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What You Need to Know About Credit

Banks, credit card companies, retail stores who offer credit, car leases, car loans, student loans- they all report to the credit bureau. If you have ever had any dealings with any of the aforementioned institutions, then you can be sure that you have a credit report.

A credit report is your financial report card

It is reported to monthly by all of the institutions from which you have borrowed money or have credit with. This is their way of protecting themselves, of not only keeping track of your payment history with them but with other companies as well. This can work in your favor because as your credit matures, more and more companies will be willing to lend you money, to trust you based solely on your payment history. However, if by chance you happened to miss a few payments, defaulted on a student loan, or filed for bankruptcy, then the opposite is in store for you. Higher interest rates, limited amounts financed and other restrictions may be placed on your loan depending on the severity of your bad credit.

Check your credit report at least once a year

You may think your credit history is perfect because you have never been late or missed any of your loan payments. What you may not know is that your credit card company may have mistakenly reported that you were late paying last month’s bill. This happens quite frequently and it is important to catch these mistakes before it’s too late.

It is not unusual for your credit report to be used as a determining factor in your insurance quote. Potential employers have also started taking a closer look at your credit bureau. Today, you credit history is used as a measuring tool more than simply applying for a loan. Landlords are also interested in seeing a prospective tenant's credit history to judge whether you are reliable and will pay the rent.

Your credit report contains information about your past and present personal and financial situation. Credit cards that never been formally cancelled will appear on your credit history as an open line of credit. This is not a bad thing, as long as the balance is at zero, because having a card open for a few years is great for your credit. Credit-related court judgments against you in a lawsuit such as bankruptcy, will be recorded in your credit report and follow you on your credit history for many years to come. If you have any unpaid debts they will appear in your credit report. If you are applying for a loan, these debts will be entered into the credit formula as debt and affect your credit rating. A bad credit rating may prevent you from getting the best offer in terms of rate and amount.

There are two major credit companies operating in canada, Equifax and TransUnion. When you check your credit, make sure you look at both as they do not communicate with each other and they could be totally off from the truth. If you find errors, you can write to the agencies explaining the error, and they have 30 days to correct it. You will want to check your report again after you have sent the corrections to be sure the changes were made.

Your credit is your responsibility. It is you who must ensure that your credit report is displaying your correct credit history.

We Approve Everyone:

Bankruptcy

Double Bankruptcy

Bad Credit

Self-Employed

New To The Country

Missed Payments

No Credit

Consumer Proposal

Divorce

Slow Credit

Collections

Repossession

Why It’s Okay to Get a Bad Credit Car Loan

Getting a bad credit car loan in Ottawa may have its perks, after all. Many of our customers who have bad credit are concerned when they initially approach us for a car loan because they think that they will either not be able to afford a car loan or that they will not qualify for a car loan in the first place. While people with bad credit may have to pay more for a car loan – and may qualify for a smaller car loan than someone with perfect credit, getting a bad credit car loan can actually be a good thing for your long term credit.

Here are a few things that you may want to know about a bad credit car loan in Ottawa before you apply:

Credit is an accumulation

Your current credit situation is based on an accumulation of all of your past credit decisions. These credit decisions – good and bad – are evaluated on a points system. You get negative points for bad decisions that you may and positive points for good decisions that you make. For example, if you have to declare bankruptcy, you’ll have negative points. However, if you repay a car loan, you’ll have positive points. Therefore, even if you currently have bad credit, by making good decisions now, you’ll be able to slowing improve your credit so that when you go to apply for a car loan down the road, you’ll qualify for a greater loan at a lower interest rate.

You can change your credit

It’s possible to affect your credit pretty quickly, if you want to. Not only can you decrease your credit score by making bad financial decisions, but you can also increase it when you make wise financial decisions. Some of the wise financial decisions you can make now to improve your credit may include taking a car loan that you can repay, repaying credit car debts, accumulating all debts into one source, minimizing the amount of moving you do, and more. Contact us for more details about how you can improve your credit pretty quickly by taking small steps today.

You can still get a car loan

We are proud to offer excellent car loans in Ottawa to all of our customers – whether they have good credit or bad credit. Sure, you may have a lower car loan amount and a higher interest rate if you have bad credit, but you’ll also be able to get a reliable car that will last for years to come – and help you improve your credit!

Contact Fast Lane Credit today for more information about how you can qualify for a bad credit car loan in Nepean that you can afford!


How to Get a Bad Credit Car Loan in Ottawa

Many of our Ottawa and Hull customers are in a situation in which they will require a “bad credit” car loan. This means that their credit is less than perfect, so they will have to pay a little more on their interest rates than those customers with perfect credit. Getting a bad credit car loan in Ottawa is nothing to be ashamed of or worried about. In fact, many of our customers have to get “bad credit” car loans because they have had a difficult financial history or have a tricky current financial situation. Because we know how important it is to be able to drive away in a car that you can rely on for safety and durability, we are pleased to offer all of our customers car loans- even those customers with bad credit.

Here are a few things that you need to know about getting a bad credit car loan in Ottawa:

Apply today

Many of our customers are able to apply for bad credit car loans in Ottawa and get approved on the same day. The first thing that you need to do in order to start the process of getting a bad credit car loan is to take the steps to apply. To get started, all you need to do is complete the credit application, which we have available on our Web site. The application is fast, easy and secure. You can also complete this credit application in person by visiting us Fast Lane Credit.

By completing the credit application, you’ll be providing us with important information that we need in order to determine what sort of loan package you qualify for. We’ll learn more about your previous financial situations as well as any current debts that you have. After we finish reviewing your credit application, we’ll contact you to schedule a meeting.

Meet with a lender

At Fast Lane Credit our credit specialists will want to know more about you comfort level in terms of loan amount and repayment situations. We’ll contact you to schedule a meeting. During this meeting, it is important for you to be open with us about any reservations or concerns you have with the loan options we provide to you. After this meeting, you’ll know how much money you’ll be able to spend on your new or used car – as well as what your monthly loan repayments will be for the duration of your loan!

Contact Fast Lane Credit, Car Loans Ottawa today to get started with your Ottawa car loan or to learn more about how getting a bad credit car loan can help you!