Getting approved for an auto loans on an older vehicle has usually been seen as a challenge, due to the risk involved for the lender. Auto Loans on older vehicles are now made possible with select finance companies in Alberta. www.carloansforbadcredit.ca and www.financetoday.ca have now made it possible to get approved on an older vehicle. Not only can you get approved for a car loan on an older vehicle, but the interest rates start at 4.99% and the option for a 60 month term is possible. Up until now the rates were usually higher for an older vehicle (2003-2007). The terms were only 36 to 48 months with great credit. Now the doors have opened up, when you apply at these 2 companies. Because of the relationships these companies have established with the underwriters and lenders, and the volume of business, these 2 companies have never been stronger. With credit analysts standing by all day, and lenders available all day, these companies can usually have a result in under 1 hour for car loan approvals. Clients with excellent credit can drive away in less than 1 hour from approval, clients with less than perfect credit can drive away in less than 24 hours. Clients can sometimes have the option of 0 down, deferred payments, and cash back.
Here are some options
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