Calgary Bad Credit Car Loan FAQs
I have bad credit. Is it still possible to get a car loan through your site?
Yes. We work with all Calgary drivers, regardless of their credit score. Just fill out our application form to kick off your loan approval (we don’t even need your social insurance number).
What are your minimum requirements?
Our minimum requirements are that you are the age of majority in the province that you reside in, and that you are a permanent resident in Canada. Other than that, we are happy to accept applications from people in all types of financial circumstances.
Do I need a down payment?
A down payment will not always be required, though it is often a great way of lowering your payments and helping to pay off your vehicle faster.
Is the manufacturer’s warranty still valid on a used car?
Yes. In Calgary, the manufacturer’s warranty gets transferred to the vehicle’s new owner.
How will my monthly payments be calculated?
Car loan payments are based on a variety of factors. The amount you’re borrowing and the interest rate both help determine your payment, as does the length of your loan. Remember that the longer you stretch out your car loan, the lower your monthly payments will be. Take care though: longer loans also mean you’ll pay more interest.
Take a look at our graph below to see what your payments might look like for a $6,000 car loan at 8% interest over different lengths of time.