Category Archives: Car Loans Ottawa

Why It’s A Good Idea to Buy a Car with a Car Loan

Posted on by
Reply

If you are like many people in the market for a used car, you’re probably looking into financing options so that you can more easily afford the new car. There are many ways to buy a used car, including paying cash for the entire new car purchase or taking out a loan for a new car. The majority of our customers need to take out a  car loan in Ottawa in order to pay for their cars. If you are part of this majority, have no fear; there are many advantages to buying a car with a car loan.

Here are a few reasons why buying a car with a car loan in Ottawa is sometimes a very good idea:

Improves credit

When you buy a used car with a car loan in Ottawa, you can drastically improve your credit score – as long as you are able to pay back the loan on time every month. A credit score is based on an accumulation of financial choices that you make. In order to get a high credit score, it’s important that you are able to show lenders that you have a history of being financially stable – that you have experience taking out loans and repaying them in full. Therefore, taking out a loan for a car that you are able to repay will indicate to future lenders that you are able to take out a sizable loan and repay it. As such, future lenders will have confidence in your capabilities to repay a loan and are more likely to offer you a lower interest rate down the road.

Helps you to afford the right car

Many people who have to get a used car are often worried about their ability to buy a car that suits their needs, wants, and lifestyle – without breaking their banks! We’ve had many customers come to us with the idea that they will need to severely compromise their needs or wants in order to be able to afford to buy a car. However, when they are able to get a car loan with a low interest rate, they are able to afford to buy the right car. The cars that our customers can afford with their car loans are not only safe and reliable, but they are cars that our customers will truly enjoy using for years to come.

Contact Fast Lane Credit today at www.fastlanecredit.ca  to learn more about our used cars in Ottawa or to get started finding the right used car for your needs!

 

Tips For Buying Used Cars & Trucks

Posted on by
Reply

If you are like many people and are in the used car or truck market for the first time (or first time in many years), then you may be surprised by the increase in technologies and features that come included on so many used cars and trucks on the market. With so many changes in used cars and trucks, it can be tough to know what is available to you for your price range and that suits your needs.

 

We often consult with customers that need a refresher course on what they can buy in a used car or truck. Here are some of our tips to help you find the right used car or truck for your needs:

 

Think About Your Budget

One of the first and more important things that we can remind our customers about used car and truck buying is that the budget is one of the most important things that you can consider. Your budget will not only help to determine what type of used car or truck you can buy, but it will also help to determine your financial comfort for the next few years as you repay your car loan.

 

We recommend that you speak with one of our financial experts to learn more about what kind of car you can afford for your budget. After you fill out a credit application, we will discuss what financial lending programs we can offer to you, which may include different options for car loans in Ottawa. We will then help to give you a better picture of your financial situation and projections for several years down the road.

 

Function of the Car

Your used car or used truck in Ottawa will have many functions that are important to you. Perhaps the car or truck will be used primarily to transport you to or from work. Maybe it will be used for carpool. Whatever the reasons are for having a used car or truck, it is important to keep these essential and most important functions in mind when selecting your car. After all, you may want a convertible, but if you have a family of 6 and need to transport everyone comfortably, a convertible might not be the most functional car for your needs.

 

Options

It is always important to keep in mind that you have options. Often, those options are determined by the economy. There is an opportunity cost to getting some cars, for example. You may pay more for a luxury car, but you may also get more satisfaction out of driving it. Therefore, we recommend that you review your options with one of our agents in order to learn more about what options are available to you.

 

Contact us today at www.fastlanecredit.ca  to learn more about what  used cars in Ottawa are currently on our lot and to discover more about the options available to you.

3 Steps to Getting an After Bankruptcy Car Loan

Posted on by
Reply

Regardless of your credit history, you can get an after bankruptcy car loan in just a few short steps. By getting an after bankruptcy car loan, you will not only be able to drive away in a car that helps you maintain or improve your lifestyle, but you will also be well on your way to improving your credit! After all, taking out a loan that you are able to repay will show future lenders that you have been financially responsible.

If you’re ready to start improving you credit and your quality of life by taking out a bad credit car loan in Ottawa, then follow these simple steps to get started today!

Complete the Credit Application

First, you’ll need to complete the credit application. On this application, you’ll provide some basic details about your identification. You’ll also give us permission to access your credit history and credit report. We will also learn more about your current financial situation, such as your employment.

We have a credit application available online so that you can begin the process from the comfort and convenience of your home or office. This is a secure application. You can also come into our dealership to fill out the credit application in person.

Meet with a Credit Specialist

Once we receive your credit application, our credit specialists will review it completely. During this review process, we will be developing some financing plans that will be easy for you to afford. We will determine how much of a bad credit car loan in Ottawa we can give you and what interest rate and duration options will apply to that loan. We may even have some suggestions to make repaying the loan easier.

Meeting with the lender is important because it will help us to determine how you use money. Once we understand this, we can develop a loan program that suits your unique lifestyle.

Choose the Right Program

After developing several loan options for you, the next step will require you to choose the right loan program for your needs. Each of the options that we offer should be easy for you to afford. However, everyone is different and requires different lifestyles. Therefore, it’s up to you to select the program that you like the most.

Getting started with your bad credit car loan in Ottawa is easier than ever with our easy 3 step approval. Contact us today www.fastlanecredit.ca  at for more information or to get started getting the right car loan in Ottawa for you!

How Credit Impacts Car Financing

Posted on by
Reply

Credit is one of the important factors that go into getting the best car financing arrangements. Many of our car loan customers are aware of the importance of credit and their credit scores, but they are not too certain of what credit exactly is or how it affects them. Here’s a brief overview of credit scores and how they may impact your car financing in Ottawa:

Credit scores are made up of five different categories. Each category carries its own weight and amounts to a different percentage of your overall credit score. Here’s what you need to know about these categories:

Length of credit history – this category amounts to 15 percent of your entire credit score. The length of your credit history is generally determined by the first account that you opened, such as the first credit card or bank account. It’s best to keep long-standing accounts. Therefore, be sure that you do not simply jump from one credit card to another or one bank account to another.

Payment history – your payment history will amount to 35 percent of your credit score – making it the most important aspect of your credit score. When going for car financing, it’s important to be able to show that you have a history of making payments on time. Therefore, if you have a bad credit score, try focusing on repairing this aspect of your credit score to get a boost. Also, taking out a car loan in Ottawa that you repay can help to repair this aspect.

Types of credit used – a credit card is a different type of credit than a mortgage. This category of your credit score amounts to ten percent of the entire score. To boost this section, limit the number of credit cards and general consumer credit you have and shoot for more long-term, asset building credit lines, such as a car loan or mortgage.

Amounts owed – the amount of money that you owe accounts for 30 percent of your credit score. This category is based on a combination of percentages that you owe on credit limits as well as raw money that you owe. Of course, try to limit the amount of money that you owe on consumer credit lines, such as credit cards.

New credit – this category makes up 10 percent of your credit score. New credit may be a concern for lenders because new credit may be something that you’re still adjusting to. Therefore, try to limit the amount of new credit you have when applying for a car loan in order to get the best rates.

At Fast Lane Credit we look forward to helping you get a great car loan in Ottawa or to improving your credit so that you can qualify for lower interest rates and higher loan amounts if you need a bad credit car loan in Ottawa.  Contact us today at www.fastlanecredit.ca for more details or to get started!

Buying the Right Used Car in Ottawa

Posted on by
Reply

When it comes time for you to buy a new used car, it can be tough for you to know that you are buying the right used car in Ottawa for your long term needs. After all, there are so many used cars and used car buying programs available – how do you know which one to choose? Luckily, we have a few tips that will help you to know that you are buying the right used car for your needs – a used car that will last for years to come. Here’s what you need to know when it comes time for you to buy your next used car:

Condition

Not all used cars are the same. It’s important to think about the condition of the used car before you buy it. Remember that we perform a comprehensive inspection on all used cars before we sell them in order to ensure that you will be happy with the condition of every used car on the lot. We also give you a warranty with your used car so that you can feel confident that your used car will be taken care of if anything goes wrong with it. However, the condition of used cars can still vary a great deal.

Speak with your dealer to learn more about how to condition of a used car can vary and to find out about how long your used car is expected to last. We’re more than happy to be frank with you about the condition and expected lifespan of every used car on our lot.

Price

Every used car in Ottawa will have a different price associated with it. In order to buy the right used car for you, it is important that your used car meet your budget. This means that you should be able to easily afford to pay for the used car. If it is difficult to afford the used car, then chances are good that it’s not the right used car for your needs.

Functions and features

All used cars have different functions and features. Make sure that you find a used car that has the right functions and features for your needs in order to ensure that you will enjoy the used car for years to come. If you expect your situation to change, you may also want to buy a used car that will change with you. For example, if you are pregnant or thinking about becoming pregnant, you may opt for a minivan over a coupe.

We’re always happy to help our customers find the right used cars for their needs, and a car loan to get it! At Fast Lane Credit, we can get you approved for your car loan regardless of your past credit. We offer bad credit car loans, with good rates and payments to fit your budget. If your looking for a car loan in Ottawa apply with us today, we will find the perfect used car to suit your lifestyle!

Car Financing With Bad Credit

Posted on by
Reply

If you are in a situation like many of our customers in which you require bad credit car loans in Ottawa, don’t worry: we have bad credit financing that can help you to afford to buy your car and pay for it for many years.

We understand that many of our customers have tricky credit histories that may prevent them from getting low interest rates. We also understand concerns about a troubled economy that may prevent customers from feeling confident that they will be able to continue to repay their loans. That’s why we work hard to develop bad credit loan programs that are affordable for all customers – no matter what their credit history or situation is.

Here are some of the reasons that we think you can afford to get bad credit car loans in Ottawa from us:

Financing Options

We will offer you a variety of bad credit car loan options that will suit your long-term needs. For example, we may develop a plan in which you can pay more each month for a shorter period of time, which may be helpful to customers that are unsure as to whether or not they will have a job in a year.

We may also develop a plan for customers that prefer to pay less each month for a longer period of time, which may be helpful to customers that are able to make small payments and are sure that they will always be able to have a job of some type.

We will discuss a variety of options for bad credit car loan in Ottawa with you in order to determine which plan you think will work best with your long-term financial goals.

Vehicle Options

We also offer a wide variety of vehicle options to help you afford a car that suits your needs. For example, if you need a car, but cannot afford to pay much for the car each month, then we may recommend a hybrid used car that requires less fuel than an SUV or other vehicle. We may also be able to recommend vehicles that require very little maintenance.

Warranty

In addition to our loan arrangements, we provide a warranty program for all of our new and used vehicles. This program helps to ensure that all customers can afford to maintain their cars so that they stay safe on the highway.

Contact us today at www.fastlanecredit.ca for more information. We have access to thousand’s of used cars and trucks, we can find you the car or truck that you want. Good or Bad Credit, everyone can get approved at Fast Lane Credit.

Tips To Get Approved For Your Car Loan

Posted on by
Reply

Fast Lane Credit specializes in offering car loans and bad credit car loans in Kanata for customers that have all types of credit histories and financial situations. But it’s not enough just to get an auto loan that you can afford; you also need a car loan in Smith Falls that lets you enjoy your life by letting you have a flexible budget (when possible). No matter what kind of car you are planning to buy, these tips will help you get a great car loan:

Keep an Eye on Your Credit

When it comes to getting a car loan, the interest rate and amount of the loan may be based on your credit history and credit score. For that reason, it is important that you maintain a clean credit history and work hard to keep a high credit score in order to get the lowest rate on the highest amount of cash.

If you have bad credit, don’t worry, we also offer bad credit car loans in Ottawa and no credit auto loans.

Develop a Practical Budget

Most people know that they need to have a budget in place in order to pay back an auto loan in Hull. A budget will help you stay on track with your spending so that you don’t default on your loan due to overspending. However, it’s also important to keep that budget practical. For example, don’t say in our budget that you’ll stop splurging on clothes or accessories if you really don’t think you will. Depriving yourself in other areas of your life may make you regret your car purchase. Contact Fast Lane today for help developing a practical budget that fits your big picture.

Develop an Emergency and Big Ticket Item Budget

Once you have a practical budget, stick to it on a daily basis. However, you’ll also need an emergency and big ticket item budget. The emergency budget might cover illness, the loss of a job, a major accident, repairs to your home and more. A big ticket item budget might go towards a much-needed vacation, home improvements, and children.

Look Around

Fast Lane Credit offers extremely competitive auto loans. We’re always happy to discuss your auto loan options and to develop a long-term plan that will help you get a bad credit car loan in Ottawa and maintain your active lifestyle. Contact us today at www.fastlanecredit.ca  to get started.

Car Loans: Before You Apply

Posted on by
Reply

Deciding whether or not to finance a car loan involves taking into account many aspects of one’s financial budget.  This is the case for new and used car buyers, whether your credit is good or bad. Firstly, a potential car buyer must consider their budget by determining a price range that they are willing and able to work within.  Take into account all other monthly expenses. 

 

Take your gross monthly income, then, subtract any payroll deductions, such as taxes, any savings plans, and any other additional medical or dental insurance costs.  Then take net income and minus deductions and all other expenses, home, utilities, personal, etc. From this point, it can be helpful to find a website that offers preapproved applications for car loans in Ottawa.  These applications are a quick, easy, and a friendly way to get an approval rating for your credit. 

 

Sometimes, people try to apply for a car loan in Hull , and they find out that their credit rating are not exactly what they though it to be, but don’t worry, the fact is that there are many lenders that are out there in the business of giving car loans to people with similar situations like your own.  With this in mind and the determined amount that you can spend, you can then base your possibilities on where to go next and set out in search of the car within your price range.  It is extremely important to do the “leg-work” in determining one’s budgeted expenditure for a possible car in order to alleviate any future problems with coming up short on payments. 

 

Lenders want to know that you will be able to pay back a car loan in Rockland given for the purchase of a car, regardless of past credit ratings.  Being turned down for a loan with one lender, may not mean the same outcome with a different lender.  Therefore, take time to really do the research and find the best possible options to point your money towards, and that means finding a good lender with whom to finance a car.  Being knowledgeable of the information you need, such as your budget and possible lenders to seek out will be very beneficial when trying to land that loan for the car of your dreams or needs. 

 

Above all, each person’s case is specific to their own life situation, so be honest with yourself and potential lenders.  This will keep you on the right track to a successful financing opportunity. Contact us today at www.fastlanecredit.ca , we can get you approved and driving in usually 24 hours or less!

5 Great Resons To Apply For Car Financing Today

Posted on by
Reply

At Fast Lane Credit, we’re very familiar with car loans in Ottawa. In fact, we offer car loans to our clients on a daily (even hourly) basis. Therefore, we are able to answer just about every question you could possibly have about how to get a car loan, when to get a car loan, what good car loan rates are, and more. Still, many of our customers are not sure whether or not they should get a car loan when they buy their cars.

Car loans in Ottawa are a safe and convenient way for our customers to easily afford their cars. Here are the Top 5 reasons to get a car loan that we’ve compiled based on our experience giving car loans on a daily basis:

1.       They allow you to have some flexibility. When you go to buy a car, you can either spend all of the money that you have on the car or you can get a car loan and only spend some of your savings (if applicable) on the car. When you are able to keep some of your money for an emergency fund, then you will have more flexibility down the road. Plus, you never know when you might actually need that savings.

2.       Low interest rates. Sure, when you buy a car through car financing, you will have to pay an interest rate on the amount of money that you take out. It may seem like this interest rate is unnecessary and simply designed to make the car more expensive. However, consider the fact that you are actually in a car and not having to rely on friends or family for rides. That small interest rate pays for the convenience of having reliable and safe transportation. Plus, we can show you cars that have such low gas mileage that the interest rate pays for itself.

3.       You’ll improve your credit. Whenever you take out a loan, you will improve your credit if you are able to repay the loan in a timely manner. Therefore, taking out a loan now will increase your credit and allow you to get even lower interest rates down the road.

4.       You’ll get the car you can afford – and that suits your needs. Especially if you use dealer financing, your dealer will make sure that you get a car that not only suits your needs, but also that you can easily afford for years to come.

5.       Low monthly payments. Instead of paying one junk of change up front, we’ll arrange for you to make low monthly payments that fit your budget and lifestyle. Affording your car will be easier than ever with the right financing options.

Contact us today at www.fastlanecredit.ca  to learn more about why car financing in Ottawa is a great option when it comes time to buy your next car.

How to Get a Same-Day Bad Credit Car Loan in Ottawa

Posted on by
Reply

If you are thinking about buying a used car with a car loan in Ottawa, it’s important to us that you have all of the information necessary to make a wise auto loan decision for your needs. Here’s some basic information that you can use to secure a same-day auto loan through Fast Lane Credit so that you can drive away on the same day that you apply for the loan:

Understand the auto loan process

When you apply for a car loan in Ottawa, it is important that you are aware of what getting an auto loan entails. You will need to repay the auto loan over a period of several months or years, so it’s important that you understand how an auto loan works and what your responsibilities are. One of the best ways to learn more about how an auto loan works is to speak with one of our experienced lenders either in person at our dealership or over the phone.

Apply for a loan

Once you have a clear understanding of what a car loan is and what your responsibilities will be, you’ll need to complete the credit application. The credit application is a basic form that you’ll use to supply us with information about your credit history and current financial situation. Based on our analysis of your credit application, we’ll develop several different loan options that you can choose from when it’s time for you to get a loan.

Speak with our Credit Specialist                                                                                            

When you speak with our credit specialist, we’ll review your credit options with you. Again, these credit options will be based on your loan application and each option will be uniquely designed to suit your financial situation and needs. The lender can provide you with more information about how these different options impact your credit situation and your buying power.

Select the right option

Once you understand the difference between all of the loan options, it’s time for you to take out the loan that best suits your lifestyle and needs. After you have selected the right loan, you’ll be able to find the right car for you that meets your financial restrictions and allowances.

At Fast Lane Credit we look forward to helping each of our customers get the best car loan in Ottawa for their needs. Contact us today at www.fastlanecredit.ca to get started securing the right auto loan for you…and getting it on the same day that you apply!