Guaranteed Auto 
When you’re financing a used vehicle in Alberta, deciding on the right size of your down payment can significantly impact your financial situation. Aiming for a down payment between 10% to 20% is often recommended, but understanding the advantages of a higher amount can lead to better monthly payments and interest rates. However, various factors … Read more
When you’re considering used car financing in Alberta, you’ll need to meet certain requirements to secure approval. You’ll typically need to provide proof of income and a valid ID, while lenders will closely examine your credit history. If your credit isn’t great, you might even need to show a minimum monthly income. Understanding these prerequisites … Read more
Understanding the Possibility It is indeed possible to have two car loans at the same time. There are no legal restrictions preventing you from securing multiple auto loans. However, getting approved for a second car loan can be challenging and depends on several factors, including your income, credit score, and debt-to-income ratio. Key Considerations for … Read more
The Impact of Car Loans on Credit Scores Positive Impacts Negative Impacts Car Financing Options in Alberta Traditional Loans Traditional car loans from banks or credit unions are a common financing option. These loans typically offer fixed interest rates and set repayment terms. They can be a good choice for those with good credit scores, … Read more
Monthly Payment Down Payment Trade-In Value Sales Tax (AB and SK) Loan Length (Term) 36 months48 months60 months72 months Credit Status Estimated Price Range Good3% to 5% Rate Good Credit 3% to 5% Rate $ to $ Average6% to 8% Rate Average Credit 6% to 8% Rate $ to $ Rebuilding9% to 15% Rate Rebuilding … Read more
Minimum Income Requirements To qualify for a used car loan in Alberta, you typically need a minimum monthly income of $2,200 before taxes or deductions. However, this requirement may vary depending on your credit score and the lender you choose. Some lenders may have higher income requirements for those with lower credit scores, while others … Read more
The Importance of Down Payments A down payment is the upfront payment you make when purchasing a vehicle. It reduces the amount you need to borrow and can significantly impact your loan terms. A larger down payment leads to lower monthly payments, reduced interest costs, easier loan approval, and protection against depreciation. How Much Should … Read more
As one of western Canada’s largest auto loan brokers, Guaranteed Auto Approvals has helped over 5,400 Canadians find their best rate since 1999. We understand that navigating the world of car loan interest rates can be confusing and overwhelming. That’s why we’ve created this comprehensive guide to help you understand the factors that affect your … Read more
For many Albertans, especially those facing credit challenges, the process of financing a used vehicle can be daunting. At Guaranteed Auto Approvals, we understand these challenges and are committed to helping you navigate this journey with confidence. In this blog post, we’ll address the top 5 questions our customers ask about financing a used vehicle … Read more
For anyone in Alberta who dreams of owning a reliable, newer model vehicle but faces credit challenges, the car buying process can feel daunting. However, there’s one crucial step that can transform your experience and put you in the driver’s seat: getting pre-approved for your auto loan. What is Pre-Approval? Pre-approval is a conditional approval … Read more
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