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Good Credit – Bad Credit – Ugly Credit ?

ClintEvery year prices of new vehicles have been rising leaving the consumer no choice but to succumb to a 72 month (or more) car loan instead of the standard 60 month term that was common only a decade ago.

Consumers want to pay only a comfortable monthly amount and the only way they can do that is with longer term loans.  In 2014 the average sticker price of a light vehicle in Canada is $33,000 often haggled down to $29,000 with discount offers from the dealers.

Good Credit

If the consumer has good credit he or she will have a better chance of getting extended loan terms. The reasoning being that the longer the loan terms are the greater is the risk that the borrower will not be able to make the payments and the car will be worth nothing toward the end of the term. That is why borrowers who have bruised credit are not usually targeted by new car dealers.

If you have good credit please fill in the form to the right.  Here is why …..  Rob Taggart has 24 years experience in the loan industry and has deep connections with all the banks and finance companies that anyone in Canada could possibly try. All lending institutions will commonly offer you loans with rates that are a little higher than what they know they can actually give you.  Rob knows what their best rate is.  He knows exactly who to approach after looking at your application for the best rate possible for you period!  He also knows exactly which vehicles in our 300 vehicle inventory are a match for your credit situation so you don’t waste your time. Looking at your application, getting the loan approved and getting you into a vehicle is commonly done in one day!

Bad Credit or Ugly Credit

Those who have bruised credit will have to go to a subprime lender. This is a lender who is willing to take the risk by offering a loan at a slightly higher interest rate.  These percentages may vary widely as the subprime lenders compete fiercely with each other.

The best bet to get a reasonable bad credit loan is to deal with someone who deals with the subprime lenders every day.  Here is where Peopleware and Guaranteed Auto Loans work together to get you the best deal. Rob Taggart with over 24 years of experience has all of the competitor’s rates at his fingertips and will source out the absolute best rate for any consumer’s credit situation.  1 or 2 percent savings on loan rates make a huge difference on the affordable payment amount of a long term loan over $20,000.

Even if the borrower is forced to take out a loan at a high interest rate due to ugly credit, Rob has a plan called the “Credit Rebuilder Program” to fix that.  He will show the consumer step by step how to get back to normal and move them into phase 2 of the program after 1 year of steady comfortable payments to get a much lower interest rate and an even better vehicle.

Rob not only has the best interest rates to suit the borrower’s credit rating but he also has vehicles to match with a choice of over 300 used cars and trucks to pick from.

But don’t take our word for it; here are some testimonials from people who were in a bad credit situation but found their way out of it and got the vehicle they wanted. These are real people with real phone numbers who are willing to verify the services of Rob Taggart and Guaranteed Auto Loans.

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April 2014

The Credit Re-Builder program works!!

I am a single Mom who met Rob Taggart over a year ago at his previous employers place. My credit was not so good and I needed a reliable car for myself and my daughter.
Robert helped me when NO ONE ELSE WOULD!!! He returns a phone call which was unlike other car dealers would…..
When I heard that Robert had opened his own Finance company, I contacted him immediately and asked if we could get together.
We got together for a meeting ( April )….. and as the professional Robert is, he showed me step by step my credit bureau and how things progressed in the last year and a bit…..
I went from a very HIGH embarrassing interest rate loan to 12.9%
Switched up from my Kia Rio to a gorgeous Black on Black 2013 Dodge Dart Rallye with Navigation!!!
My name is Jamie Milligan and I am a TRUE success story of the Credit Re-Builder program that works from Robert Taggart and Guaranteed Auto Loans Inc.
Welcome any referral phone calls – Robert Taggart is a man of his word and does what he says!!! Go SEE him TODAY!!!
Ellen Jamie Milligan
604 377 7913

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Questions and Answers

Am I eligible for a vehicle loan?I’m a college student with great credit (735). I am employed as a private/self tutor, so theres no way I can prove that I legally work. Can I still get a carloan? With perhaps a co-signer? The amount of loan I need is 3-4K. Any advice that will help me get the loan? Thanks! To answer Jeff T: I need the car now. I was involved in a hit and run accident and my car was damaged completely.

Posted by Patrick
[display_name id="2"]  Auto finance is what I do for a living and this should shed some light on your question. Below is a list of factors that auto lenders look for. Factors. 1. Loan to value (LTV). 2. Age of vehicle. 3. Term of loan. 4. Miles on vehicle. 5. Down payment. 6. Time on job. 7. Time at residence. 8. Monthly income before taxes. 9. Credit score/profile. 10. Total debt to income including new payment. What they look for; 1. Between 85% and 115%. 2. No older then 8-years. 3. 36-72 months. 4. No more than 100,000. 5. 10% of the sales price or $1,000.00. 6. 2-years. 7. 2-years. 8. $1,500.00 to $2,000.00 depending on lender. 9. 540 or above with 4 paid as agreed lines of credit with 1 being a installment loan paid at least 12 times for at least $150.00 a month and in the credit bureaus for at least 3 years. 10. Not to exceed 45%. Another thing that comes into play is called payment to income ratio so depending on the term of the loan and the interest rate you would have to budget for the payment. Most lenders do not exceed 16%. The problem your going to run into is no provable income and the amount your looking to borrow is well below the minimum amount to finance of all major lenders which is $7,500.00. So when you find a co-signer go to their own personal bank that will be your best bet. Good luck.

Auto Financing.?  I’m going to be applying for financing at my bank, is this my best choice?

Posted by lvn_jb06

[display_name id="2"]    A normal bank loan is generally the easiest  option. For people with hardly any time on their hands, getting a regular car financing is often the least time consuming. Another reason is because customers are familiar with their own banks. Bank loans often have lower rates when compared with dealer loans.

However, in a recent study conducted by bankrate.com, it was revealed that the average interest rate offered by banks on car financing with 48 month terms was nearly 2% higher than those offered by credit unions. So check out your local credit union before you go to a standard bank.

So don’t just take the easiest route with a standard bank financing. It pays to do some research first. Browsing online could be a great method to find out competitive conditions, rates and benefits provided by lending institutions. Investing time and effort could help you save money in the long run.

Is it possible to transfer an car loan over to someone else?I have a loan through Wells Fargo with about 4 years left. My brother needs a car so I’m offering him to take over my payments, so I could just get a newer one. His only credit is having a job for about a year and a credit card through his bank for about 6 months. Could I transfer it over to him anyway? He can’t afford a huge down payment at a dealer, so he can give me a smaller one.

Posted by Roy
[display_name id="2"]  Vehicle loans are not what is considered an assumable loan. He will need to go to the bank and request a loan in his name. Then his bank should issue a check to your bank in the amount of the payoff. If the the payoff is higher than what the bank is willing to loan him then he would have to make up the difference. Alot of this is going be based on the age and condition of the car you are selling him. What the wholesale value of the car is. The other factor is what his credit score looks like. The other option which I strongly discourage anyone from doing is letting him take over the payments. I hear it way to often He is my brother or cousin or even son, he would never do that. The car is in your name as far as the bank is concerned it is your name on the line. Should he get into a jam and not make the payments the bank will be knocking on your door. If they actually repo the car and sell it you are responsible for the difference between what is owed against it verses what it brought at the auction. If they can not repo the car because he has taken off with it you can be arrested for theft of property. I hope this information has helped you.

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