Some questions to ask yourself about bad credit financing

December 21 2022 -

We know what our customers from all over Nova Scotia ask themselves when it comest to buying a vehicle with poor credit. We know because whether our client comes from Kentville or from New Minas or from Canning, they usually have a lot of questions. They want to buy a vehicle, but they are concerned about their poor credit.

What vehicle will meet our needs and how much to budget for the purchase, or how to ensure the reliability of our vehicle and what type of financing is best for us are just a few examples. If our credit isn't perfect, it's natural to wonder how to get the used car and more importantly, how to get the loan that will allow us to acquire it.

At Steele Valley Chevrolet in New Minas, we are always available to help you answer these difficult questions and help you find the right used vehicle for you while helping you rebuild your credit. The questions we highlight below are the same questions our team of financing experts get asked everything single day. We serve clients from all over Nova Scotia including Kentville and Canning, and we can help you too.

It all starts with our flexible specialized financing solutions aimed at buyers with poor credit. This type of financing is designed for our customers who, for various reasons, have experienced credit problems but who nevertheless have the financial resources to purchase the vehicle they need.

How can you get the vehicle you need with bad credit? First, here are some questions to ask yourself.

Have you calculated your budget correctly?

The first thing to do when you want to buy a vehicle is to calculate your budget. We need to know exactly how much we have left per month for our vehicle after calculating all our other monthly expenses, including an amount set aside for savings.

Have you calculated the cost of ownership of your vehicle?

When calculating your budget, you should also provide an amount for the carrying costs of our next vehicle. These include insurance, gas, maintenance and registration fees. These costs can easily add up to a few hundred dollars a month, especially if you set aside an amount for maintenance, tires and car registration fees.

Have you assessed your needs?

When we buy a vehicle, it always makes sense to keep it for several years, especially if you opt for 2nd chance credit financing. So you don't want to have to replace it after a year or two if your needs change along the way. While it's not easy to anticipate our needs, especially when it comes to interior space, it's important to try to anticipate how these may change over the next few years to ensure you choose a vehicle that will work for you for a long time.

If you need help in understanding 2nd chance credit financing or in finding the right used vehicle for you, contact us today!

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