Car Loan Interest Rates
We work hard for YOU to get the best possible rate
Low Car Loan Interest Rates
Having bad credit or no credit doesn’t have to get in the way and stop you from getting an auto loan approval. Interest rates in BC do vary based on an applicant’s credit history, but having bad credit or no credit won’t automatically disqualify you from getting a good interest rate on your car or truck loan. Whether you are looking for an auto loan in Vancouver, the Okanagan or Vancouver Island it is important that you make sure you choose a to work with a reputable auto loan company. One with a proven track record of getting its bad credit or no credit auto loan customers the best possible interest rate they can for a safe and reliable vehicle.
Now the interest rates for a new car can sometimes be as low as 0%, and rates can typically start at 4.9% and up for used vehicles. For those individuals with bad credit or no credit looking for a car loan, interest rates will start higher than 4.9%. However, remember you are working to rebuild or establish a credit history so customers can refinance their auto loan at a better interest rate after 12 – 18 months of on-time car loan payments. This would exclude customers who have additional reports of negative or damaging activity on their credit bureau.
A customer who has filed for bankruptcy had a consumer proposal or had any other debt relief program should also expect a higher than average interest rate because they’re deemed by lenders to be a “high risk”. Even though your initial interest rate may be higher, we will ensure that the car or truck loan payments are manageable, so that you won’t miss any payments and you will be able to rebuild your credit faster.
360 Approved is an established auto loan company, we specialize in getting bad credit or no credit customers the best possible interest rates right from the start. Our friendly team or credit advisors will work with you every step of the way to ensure your new car or truck loan meets your needs and fits your budget. If you’d like to get an estimate of your monthly or bi-weekly car loan payments, please visit our car loan calculator.
If you have any questions regarding bad credit or no credit car loan interest rates, contact us to see how our Credit Advisors can help you get approved for a great car loan at a competitive interest rate today.