Second Chance Credit Financing Explained

If there is one element of auto sales that is misunderstood by both consumers and the media that cover it, it is 2nd and 3rd chance credit financing. Often frowned upon, this type of financing is criticized heavily. That’s because a lot of dealerships have been dishonest with it.

What you need to know is that 2nd chance credit financing exists because there is a need for this type of financing. In addition, it is wrong to think that those who opt for 2nd chance credit financing include people who cannot manage their finances or who buy a vehicle that they cannot afford.

In fact, credit problems that lead to 2nd or 3rd chance financing are often caused by illness, separation, unexpected job loss or a change in the interest rates on our other financial liabilities. They are seldom our fault and often people with bad credit had no difficulty meeting their commitments until one day bad luck befell them.

When that happens, it becomes very difficult to obtain traditional financing. We must then turn to 2nd chance credit financing when we need a vehicle. And ultimately, for our customers in Oshawa, a vehicle is often necessary and mandatory to get to work, for example.

So, it's too easy to say that we shouldn't have a vehicle if our credit isn't perfect. The 2nd and 3rd chance credit financing solutions offered by Need A Car Oshawa allow consumers to find the vehicle they need while obtaining financing that will respect their budget.

Over time, as you stick to your monthly payments, your credit will improve. This is another advantage of 2nd chance credit financing that should not be forgotten.

To find out more about our 2nd and 3rd chance credit financing solutions, contact us today!