Although possibly embarrassing at the personal level, filing for bankruptcy is far from synonymous with financial ruin. With a little care and effort, people facing hard times can rebuild their good reputation and re-establish relationships with lenders.
In fact, bankruptcy is fairly common. Government statistics show that one out of six Canadians will apply for bankruptcy or file a consumer proposal at least once in their lifetimes. With many of them needing to finance their vehicles as they reconstruct their lives, companies have been set up to help them get through this difficult stage with the least possible stress.
Tough but Fair Conditions
Although requirements may be more stringent, with higher interest rates, lenders today are far more willing to work with people struggling through financial quicksands. What a bankrupt borrower doesn’t need is to be turned down by a string of banks and dealerships, as repeated hard queries harm their [...]
In today’s online world, traditional financial institutions – like banks and credit unions – aren’t the only places offering auto loans. In response to rising demands from their customers, dealerships and online retailers also offer a wide variety of financing options. This is a smart choice, particularly for second-hand vehicles.
Although faster and easier to negotiate, buying a car privately cuts back on the available financing options: basically, cash or a bank loan. However, buyers with black marks on their credit scores may find their account managers less than welcoming. Other private-sale risks include hidden flaws and even ownership scams, particularly on deals touted as ‘Quick Sale Bargains’.
In contrast, online retailers and dealerships are linked to a wide range of lenders, specialised in working with low or even no-credit customers. An additional benefit: buying a car from a recognised business offers peace of mind, knowing that the vehicle has been professionally inspected and [...]
It’s heatwave season, and at Laneway Auto, that means it’s time to check out the hottest cars on the Internet. Driving one of these red-hot models instantly ranks you among the coolest drivers on the road, confident that you picked the perfect wheels to spin you through your favorite summer pastimes.
So check them out – here are the ten hottest brands and models that scored highest on the Laneway Auto website searches during the first half of the year:
For decades, this truck has been a top-seller on the market – so it’s not surprising that it ranks high among vehicle searches on the Laneway Auto website as well. Perfect for picnics and tops for tailgate parties, it’s also sturdy enough to tow jet skis and boats and water sports gear, ready for action-packed days on lakes and rivers. Practical, powerful, and popular, there are plenty of new and pre-loved Ford F-150 [...]