Campbell River Truck & Vehicle Financing
How To Get Used Truck Financing in Campbell River
Before you start thinking about financing a vehicle it is important to look at your income, your budget and what you can afford. These things will give you a solid understanding of what you should be spending and aiming to spend a month. You may also want to look at your own personal credit score, as this can give you an idea of what kind of rate you could get. After doing this little bit of leg work the rest is easy! Just come pick out a vehicle and we can start on the rest of the paperwork.
Rebuilding Credit With Vehicle Financing in Campbell River, BC
Did you know that one of the best ways to rebuild your credit score, or build it from nothing, is through vehicle financing? This is because a secured auto loan is easier to obtain, since the loan has collateral attached, the vehicle. Though your loan might have a slightly higher interest rate it won’t take long before you start to see increases in your credit score. This will definitely help you out in the long run.
But how does it help you rebuild credit? Well, every time you make a payment it contributes to your score in one of the biggest sections: payment history. This section makes up about 35% of your score! You can see that if you consistently make your vehicle payments over the loan time-frame how easy it will be to increase your score.
Before you decide on vehicle financing as a way to increase your credit score, make sure you look at your finances and only take on a loan that you can reasonably afford and that you won’t have to default on.
Ready to start financing a truck or car? Fill out our online credit application to start the process of used vehicle financing in Campbell River today! At Island Owl Truck and Auto Sales we are here to help you get approved and help you find the best financial plan for you. Once we’ve figured out the boring financial part let us help you get into the truck you dream of.
What are you waiting for? Contact us today to find out more and talk to our financial team!