Category Archives: Bad Credit Car Loans Hull

Improving Your Score

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Credit scores aren’t fixed in stone. Because they’re calculated based on your current credit report, they change every time your credit report changes. While this change may be very slight, it can also be much more dramatic. Here are some things some financial advisers say to do to try to improve your score:

  1. Review your credit report and correct any errors you find. A shocking percentage of credit reports contain errors — one study concluded that as much as a quarter of reports list wrong information that hurt an individual’s score [source: CNNMoney]. Getting rid of these negative mistakes can improve a score dramatically.
  2. Keep old credit accounts, even if you’re not using them. Creditors look at the debt-to-credit limit ratio and the average age of your accounts.
  3. Reduce your balances on credit cards to 75 percent or less of your available credit (25 percent is preferable).
  4. Pay your bills on time. Assuming that there are no big errors on your report, punctual payments are the most effective way to improve your score. If you look back to the page on credit score breakdown, you’ll see that payment history is the most weighty of all elements of your score. This has to do with whether you pay debts back on time and in full. This may take time to raise your score dramatically, but you’ll see slow and steady improvement.
  5. Don’t let anyone make an inquiry on your credit report unless you absolutely have to. In general, the more inquiries, the lower your score. However, if you are shopping for a loan, make sure multiple inquiries occur within a few weeks, so that they can count as one inquiry on your score.
  6. If you are planning on applying for a big loan, such as a mortgage, don’t open new credit card accounts just to increase your available credit in the hopes of raising your score. Opening new accounts will at first have a negative impact. In the long term, however, having more credit available can boost your score.

If you are looking to re-establish or improve your credit rating, we can help. At Fast Lane Credit, applying for your car loan is quick and easy. We can get you approved for you car loan in Ottawa. Click or call us today at 877-306-0116.

Bad Credit Car Loans in Ottawa, Easy As 1,2,3

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Our customers frequently want to know why we offer bad credit car loans in Ottawa. “Isn’t it a gamble to give a bad credit car loan to a buyer?” they might ask. The answer: as long as our customers are able to get behind the wheel of a car that can help them get through their everyday activities, we consider our job of helping people get bad credit car loans a privilege.

 

We Don’t Discriminate Against Our Customers

Bad credit car loans in Ottawa aren’t about offering charity to our customers, as some people think. Instead, we offer bad credit car loans because we know that not everyone comes with perfect credit. In fact, many of our customers have less-than-perfect credit, but are some of our best customers regardless of their credit history. Therefore, we don’t judge our customers based on their credit. After all, good credit or bad credit, our customers are still our customers unless they choose to end our relationship.

 

“But Not All Dealerships Offer Bad Credit Car Loans!”

We hear this statement a lot from our customers. It may be true that many car dealerships look at a customer with bad credit and think of the customer as a financial liability. They might believe that the customer will be unable to pay off a car loan if they have a bad credit history. However, our philosophy is that we treat each of our customers the same. If, down the road, a customer is unable to pay off a car loan, we will patiently address the issue with them then, but we do not discriminate against them based on their history.

 

We Establish a Long-Term Relationship

One of the reasons that we offer bad credit car loans is that we know how important it is for people to establish long term relationships with car dealerships that they can trust. If a person just out of school with no credit comes to use for a bad or no credit car loan, at Fast Lane Credit we know that by helping that individual to get a loan for a car they can use, we will  be helping that person to either establish or re-establish their credit.

 

Down the road, they will appreciate the fact that we had faith in them, regardless of their credit situation. They will come back to us, as many of our customers already have. We look for those long-term relationships that benefit us just as much as the customers.

 

For more information about obtaining a bad credit car loan in Ottawa and establishing your own long-term relationship with our dealership, contact us at www.fastlanecredit.ca , or give us a call at 1-877-306-0116 today. We’re always happy to hear how we can help you get driving in a used car that suits your needs!