Bad Credit Auto Loan London offers hunderds of used cars, trucks, vans and SUVs, at competative prices. Car loans available
Bad Credit
Auto Loan London
London Ontario's Car Loan Specialists.
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Bad Credit Auto Financing

When you finance a vehicle using a loan, it's very important to understand how the repayment calculations work. In most The loan and amortization period are the same and the loan will be paid down to $0 when the loan term is completed. However, when loans are for a shorter time period, such as 60 months, with an amortization period of 72 months (i.e. it would take 72 months to pay it to $0). This is done to reduce your payments, but you will be left with a balance still owing when the loan is completed that you must have saved up to pay off at that time or be in a position to refinance it.

There are a number of lenders in Canada offering bad credit car loans. These lenders generally finance through dealers rather than dealing with the customers directly. The differences are:

- How much they will finance
- The payment frequency they will permit
- The age of vehicles
- The term and amortization
- The interest rates
- Down payment will be required

Every organization also has its own unique approach to assessing a customerís bad credit. Some lenders focus more on credit scores such as a Beacon Score with limited focus on job stability. Others look the type and timing of bad credit the customer has experienced.