Bargain auto centre has been in the car business for over 30 years. We have a dedicated department and staff to help with all your financing & credit needs. We understand that getting the car of your dreams isn’t always a possibility but getting into a car you will love is more than obtainable . We can help and we are proud to be serving Edmonton , St Albert , Leduc , Hobbema , Fort McMurry , Drayton Valley and all surrounding areas. So if you have less than what the banks consider perfect credit we would loved to help you. Feel free to call us 1 866 466-7230and one of our credit specialist would be happy to answer all your questions. Below are the most common questions we are asked here at Bargain Auto regarding credit.
What is a car loan & do you need one?
A car loan is basically a bank paying off your car in full to the dealership and you pay back the bank with an interest fee. It allows you to pay off the vehicle you bought with monthly or bi-weekly payments instead of having to pay the car off all in one shot. This option is great for most people since allot of us don’t have tons of free cash to just purchase a vehicle right off the lot.
Will financing a vehicle help my credit score?
No matter how well you know money credit is always a tricky thing to completely understand. The best option is making your credit work for you and here at Bargain Auto we show you how to do just that. Your overall credit score is made up of different sections, and about 10% of your credit score reflects the type of credit you’ve utilized. For example your credit cards represent one type of credit usage, student loans & car loans make up another portion and mortgages usually make up the rest. Your main goal is to mix up your credit with different types of loans, so you can increase your credit history and show that you can pay them off whether it be through monthly payments or in full. Credit is basically about borrowing money and being trusted to pay it back. The more your show you can be trusted the higher your credit score gets. Having a car loan on your report shows a new mix of credit, and can help improve your overall credit report.
What if I have no credit or bad credit score?
Most people don’t have an amazing credit score and there are lots of reasons why. You shouldn’t be financed based on your past and here at Bargain Auto centre we truly believe that. Just because your credit isn’t perfect doesn’t mean you have to drive a 25 year old beater. Take some time and take a realistic look at your finances. After all your monthly bills, how much can you really afford to put toward a car payment, insurance, gas and any other finances that come with owning a vehicle? Can you afford to put down a payment? These are the questions we want our customers to think about. Bargain Auto centre has helped thousands of people with bad & no credit get into a vehicle they loved and we know we can help you to.