3419 17th Avenue SE, Calgary, AB, T2A 0R3
Dealership hours of operation
Mon - Fri 10:00Am - 6:00PM
Sat 10:00AM - 4:00PM
Sun closed


Finance Form

    Finance Form


    Auto Loan Tips - Improving Your Credit

    Making the right decision means being informed.

    Being informed about credit is important, because you want to have all the facts before making an important decision regarding a auto loan. Some important things to consider are:

    • Do you have a budget?
    • Do you have a down payment?
    • Do you have a trade-in?
    • Do you have a steady income?
    • What is your credit history?

    Considering these and other factors can help point you in the right direction when deciding on your next bad credit auto loan. Lenders will look at all of the above information, and create a risk assessment for you, so they can decide how much money they are willing to lend you for your used car.


    Starting out as a used car shopper means knowing what you want to buy, and what you can afford to buy. Creating a budget helps you narrow the search for a car, and will keep you from overspending. Vehicles come in all shapes and sizes, with various features, so a budget will ease the search for a category of vehicle. Once you've narrowed your car search to a practical price range, you should begin to consider what type of vehicle you need. Start by deciding whether you need a Coupe, Sedan, Convertible, Hatchback, Wagon, SUV, Truck, Van, or Mini-Van. Southview Motors Premium Used Cars stocks an assortment of vehicles of all types, and makes finding the right vehicle easy. After you've found the vehicle you're interested in, simply contact us or fill out our online pre-approval auto loan application and we'll start doing the work for you!

    Down Payment

    Having a down payment for a bad credit car loan isn't always necessary, but it certainly helps to lower your payments and/or finance term. Customers who have even a $500 or $1000 down payment may significantly lower their monthly payments, thus reducing financial strain on car loan payments. Saving that extra little bit will mean that getting approved for a better rate may sometimes be easier, as you would be showing lenders that you are gaining financial responsibility and are less likely to default on a loan. It all goes back to that risk assessment mentioned earlier. A customer who purchases a $10,000 car at a 5% interest rate over 72 months would pay an estimated $74 bi-weekly with a $2000 down payment. That same customer, with that same car, would pay an estimated $92 bi-weekly without a down payment. Not only would the customer with the down payment be saving money in payments, but that person would be saving money in interest payments over the long term.


    Trading in your old car for a new one can help to lower your payments, and act as a down payment toward the purchase of your next used car. As mentioned, bad credit car loan lenders create a risk assessment, and part of that risk assessment takes into consideration how much money you are putting down on your car loan. If you have a trade-in, we will gladly buy it off of you. There are many added benefits to trading in your old car, other than the cash value that you will be given. Trading in your car means you won't have to deal with selling it privately, which often means spending lots of time with buyers that aren't serious, or buyers that insist on offering you less than the value of your car. Often times scammers scour the internet looking for private used car advertisements, then offer them all sorts of reasons why they can't come to see the car in person. Trading in your car ensures a 100% smooth transaction - you drop off your old car the same day you pick up your new one. We will even transfer your license plates over for you! You won't have to spend a minute without a car.

    Steady Income

    Having a steady income helps making the finance process easier and faster. Steady Income factors into the risk assessment, and shows lenders that you are responsible enough to have income constantly flowing into your account, and that helps reduce the risk of you not paying back the car loan. Lenders see any sort of steady income as a positive towards credit rebuilding, regardless of the industry, or even the wage.