Brampton Bad Credit Car Loans

Brampton Bad Credit Car Loans will get you into the vehicle you deserve, even if you have bad credit, no credit, or have declared bankruptcy.

Get Started

Fill out the form below to get a FREE quote.

I agree to the Terms & Conditions

Where to Get a Car Loan and Car in Brampton?

Where to Get a Car Loan and Car in Brampton?

Now that you’ve moved to Brampton for new opportunities, you’re also ready to buy a ride of your own. The one problem is your credit score isn’t as good as you’d like, plus your knowledge of car loans in Brampton is pretty much nothing.

What do you do?

First off, you need to get your finances organized and figure out what you can reasonably afford, then track down the ideal dealership with the best price possible, plus make the key decision of exactly what car you want to get.

If you think this sounds like a lot, you’re not alone. We’ve done the work for you and assembled this comprehensive guide about everything you need to know when it comes to car loans and getting cars in Brampton.

Now let’s put rubber to the road!

Step 1: Know Your Financial Abilities

Buying a car is a big investment. One of the first things you need to do in the process is look honestly at your finances, otherwise you could make a big mistake.

First off, you need to know your net income, plus any expenses that will take away from that pool of money. Add up any savings, too. Taking all of these factors into account, you’ll have a better idea of what’s affordable for your situation. Getting a car that puts too much strain on your monthly bills could adversely affect your life.

Some people are extremely disciplined, so they have money saved up to buy a car with cash up front. If that’s you, then you get to skip past everything else and just pick out a vehicle.
So, what about people who don’t have a huge savings? That puts you in a situation where you need a car loan in Brampton, which is common.

When you get a car loan, you must make payments regularly. It’s an excellent way to get the car you need or want right now, without having to wait months or years while saving up the cash.

Remember that you need to pay this debt back, so take into consideration what you can actually afford to pay on a weekly or monthly basis.

Car Ownership Can Be Rewarding

When it comes to spending on private transportation annually, Canadians average about $10,660. Consider that the average income in Ontario is $52,260 a year, meaning private transportation is a significant expense for most people.

You must be careful with your money, considering almost 5 percent of Canadians in 2017 declared bankruptcy. Being cautious about what kind of debt you get into is certainly key. So is looking honestly at all of your expenses, including extra money you spend on indulgences like takeout or coffee on the go. All that accumulates in a hurry.

With an overview of everything you spend and what you can afford for a monthly car payment, you’re ready to pick out a new ride.

Car Loans in Brampton Calculator and Financial Budgeting

Step 2: Figure Out What Car You Want

With the financials figured out, the next step is to pick out your new car!

Deciding what vehicle to get isn’t a one-size-fits-all process. Each person needs to consider a whole range of factors which affect their personal decision. Your location, what you need to do with your car, and other items all should be taken into consideration.

Even though your decision will be tailored to your situation, keep in mind the following things:

What Will You Use the Car to do?

What you’ll be using the car for is one of the top things to consider when shopping.

Will the car be one primarily used to go shopping, run errands, take the kids to and from school, and driving up to the cottage where comfort and safety are primary concerns? Or will it be more of a laboring vehicle for work and construction, making storage capabilities and overall durability the most important factors?

You need to balance these unique factors for your life with what you would like to have in a car.

Family car in Brampton

How Many Passengers Will You Have?

Of course, you also need to think about how many people will be using the car at once. This includes not only you as the driver, but also all the passengers.

Naturally, a family with several children will need a car with plenty of seats, while a young professional who’s single can get away with a far smaller vehicle.

You need to be realistic to balance your needs. After all, getting a car which is far too small or too large won’t be ideal.

What’s the Car’s Price?

You also need to consider the total purchase price of the car you want to buy. This amount will definitely have an effect on the monthly payments, plus how long you’ll be repaying the loan.
While you might love driving a new Ferrari, the fact is the monthly payments are enough to discourage the majority of people from seriously considering such a car. This is why you must be aware of the cost for the car you wish to get, ensuring it aligns with your financial capabilities as well as your actual needs.

Step 3: Get a Loan

When it comes to getting a car loan in Brampton, you have several potential options.
There are both good and bad things about each of these car loan options. Exactly which one works for you really depends on your exact situation, which is highly personal.
Following at three major options for car loans in Brampton.


Banks have been around for a long time, making them key to the economy worldwide. Using protections from the government, banks keep people’s money safe, while also investing in stock and bonds.
You can get an auto loan for a good interest rate through most banks. Since your car loan would be connected to your online bank account, repaying the loan and checking on the status of the balance is simple as well as convenient.

The big drawback is when your credit score isn’t good. Banks might not want to give you a car loan because they see you as too much of a risk. This is all thanks to stringent lending policies which come from inside as well as outside the bank.

Credit Union

Similar in how they function to a bank, credit unions guard people’s money and allow them to get to their money as needed.

The big difference is credit unions are run by the members, versus a team of executives at the head of a bank. That means less of a focus on tricky fees you might not notice, all in an effort to plump up profits. This more transparent and accountable structure makes credit unions a popular option.

You’ll find credit unions will also provide not only car loans in Brampton, but also personal loans which you could actually use to buy a car.

The bad thing about credit unions is they also emphasize a spotless credit rating as a way to protect all the constituents. That means if you have anything short of a great credit file, that will often close the door on this option.


For many, getting a car loan from the dealership where they buy a car seems like the easiest and best option.

One of the big advantages of using the dealership is it’s convenient. On the flip side, you’ll deal with less-competitive interest rates and pushy sales techniques.

Of course, dealerships are often able to look past flawed credit scores, plus they form arrangements with lenders which allow for looser lending standards than if you were to go directly to a bank.

Just remember that you might not be getting as good of a loan if you go with the dealership option versus shopping for a loan straight from different financial institutions. Also, dealerships are masters at pressuring you into accepting a purchase agreement you might later regret.

You Have Another Option

You might know it, but there is yet another option for getting a car loan in Brampton. An auto loan broker like allows you to take advantage of benefits which beat out the three other options.

You feel less stress by using, since your application gets shopped around for the best lender at the best interest rate. That means you get the best deal possible from a network of trusted financial partners.

You might be wondering what will happen if you have zero credit or your credit isn’t in good condition. is dedicated to helping you find a car loan, even if your situation is difficult. They will find the best deal possible for the vehicle you want and the budget you have.

All you need to do is apply online and let them do all the work.

Step 4: Select a Car

No matter which lending option you choose to use, once you’ve been approved for a loan you get to choose a car!

From there, you need to ask which car is the right one for you?
Back in step 2 you hopefully did enough research to know what kind of a car will be best for your needs while living in Brampton.

Do you need a large family car with space to expand? Or do you only need a two-seater that’s ideal for traveling in tight city streets? This decision is entirely up to you! Your situation will dictate to an extent where you buy a car, although a dealership or car classifieds are your likely destination.

The good news is sells cars directly as part of the car loan process. You have thousands of vehicles to choose from, so finding what you want is feasible. What’s more, each car goes through an exhaustive reconditioning process, ensuring you getting a great car. They even deliver the car to your door in Brampton at a time that works for you.
What if the first car you choose isn’t working out? When you use you can exchange the car you selected with another one, which is a great benefit for your car loan in Brampton.

Step 5: Have Fun!

With your car loan secured and car in your possession, it’s time to hit the road and have some fun! Register and insure your car so you don’t have a situation with the highway patrol, and then enjoy the freedom of your new ride!

Naturally, life could change after starting your car loan in Brampton. If that happens, you can renegotiate the terms of your loan.

That might means getting a better interest rate, a longer or shorter term for the car loan, or even going with a different financial institution. By comparing the different options and shopping for the best option as your situation changes, you’ll likely save some money for the long term!