Car Loans

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Car loans from a name you can trust

Most Canadians need a car. There’s no two ways about it. Especially if you travel to work or have children. What’s more, buying a car needs to be done as quickly as possible.

We can help with that.

Our application and approval process has been designed to help you get the auto financing you need as quickly as possible. Whether you’re looking for a first-time car loan or upgrading to a newer model, at Birchwood Credit Solutions we give you the freedom to borrow for the car you want, within your budget.

Apply online in just 3 minutes and get a decision within 24 hours.

What is a car loan?

All in all, there’s not much difference between a car loan and any other type of personal loan. The most notable difference is that a car loan is always secured against the purchased car, while a personal loan may or may not be secured against an asset. Car loans are short-term loans, typically running for 3 to 5 years, but can extend up to 7 years.

Your interest rate options

Fixed rate car loan

Ideal if you’re looking for structured payments, and want to know exactly when the loan will be paid off.

  • Your interest rate stays the same for the term chosen
  • Your amortization period (how long it takes to pay off your loan) can go up to 7 years
  • You will know exactly how much interest you’ll pay over the loan term
  • Your payment amount and term will not be affected by changes in interest rates
  • You can switch to a variable rate at any time if rates fall

Variable rate car loan

Ideal if you’re not concerned with changing interest rates, and want to benefit from times when interest rates decrease.

  • You can choose up to a 7-year amortization term
  • You could save money if interest rates are already low or fall further
  • If interest rates rise, your payments will likely stay the same, but your amortization term will increase
  • If interest rates fall, your payments will stay the same and your amortization term will decrease, meaning you could pay off your loan sooner
  • You can switch to a fixed rate car loan at any time if rates go up

Car loan myths

When it comes to advice on car loans, sometimes it can be difficult to separate the good from the bad. Not everything you read is true and it can make the process of finding the car you want, a good dealer and a lender frustratingly difficult. Here are the biggest car loan myths you should know about:

“You have to pick a vehicle before applying for financing”

When buying a new vehicle, most consumers do their research online before walking into a dealership or speaking to a salesperson. Getting pre-approved before visiting the dealership enables consumers to shop for their vehicle with more confidence. Having your approval and knowing your price range will help you find a vehicle that fits your not only your lifestyle, but also your budget. Getting your approval first makes the car buying process less stressful.

“You have to make a large down payment”

Not all Winnipeg bad credit car dealerships will require you to make a large down payment when purchasing a new vehicle. Without a doubt, the best way to buy a vehicle is with cash, but for most people, making a large down payment isn’t possible. When you shop with us, we look at your financial situation and if a larger down payment makes sense and will help lower your cost, then we may present that as an option to you.

“It pays to shop around for the best rate”

Shopping around to see explore vehicle options is cool, but shopping around to find the best possible rate can sometimes have a negative impact on your credit score. Keep in mind that depending on where you submit a loan application, it could result in a hard inquiry on your credit and too many inquiries can lower your score. Be cautious of sites that ask you to enter your SIN number online without even speaking to you about your situation first.

“You should only get a car loan from your bank”

With bad credit becoming more and more commonplace, there are a lot of non-bank vehicle financing options becoming available to consumers. At Birchwood Credit Solutions, we offer reasonable interest rates and a loan process that’s clear for borrowers. Learn more about bad credit car loans here.

“You need a high credit score to get approved”

Yes, you can have less than perfect credit and get your auto loan approved. Today more than ever, having perfect credit is rare and there are more and more options available to those with less than perfect credit. At Birchwood Credit Solutions, we work specifically with bad credit car loan customers in Winnipeg and across the Province of Manitoba. Learn more about the requirements for a car loan with Birchwood.

How to get the best car loan

Never settle for a loan that you aren’t completely sure of. There are certain lenders out there who are looking to take advantage of people in need of financing. Accepting a loan that you can afford to pay back could land you in a precarious financial situation.

Working with the right type of lender will allow you to get the car financing you need, at a rate you can afford.

Here are some tips to help you make your next car loan experience a positive one:

Get the financing first: We highly recommend securing your car loan before you pick a vehicle. Knowing what you can afford and your loan terms before shopping can help make the process much easier. When you know the terms of your car loan upfront, it makes shopping for your new vehicle hassle-free and much more enjoyable.

Discuss your situation: The biggest reason for deals not being approved is that we don’t get the entire picture from our potential customer. This is not how to get a car loan with bad credit. We all make mistakes and in order for us to be able to help you get into that new vehicle, we need to have an understanding of your current situation. If we know, we can help!

Avoid multiple applications: Some car shoppers will apply for a car loan through a number of dealers and online sites all at the same time. This can have a very negative effect on your credit score. We highly recommend working with a member of our team to fully understand your credit situation before you submit multiple applications.

Deal with someone local: Some people will turn online when shopping for a new car or searching for vehicle financing options. There are many options for people to choose from, including a number of aggregator sites, that aren’t dealerships and only sell your information. When possible, we recommend avoiding these sites and dealing with someone local.

In-house financing

A lot of customers come to use because they are not sure about obtaining traditional financing through their bank or financial institution. We are the Manitoba auto loan operation that truly lends our own money.

Lending our own money means more approvals, better repayment terms, and better rates.

In-house financing is a type of financing where a seller provides auto loans to their customers directly. Financing your vehicle purchase with the dealer you buy your car from (or “in-house”) eliminates the need for you to obtain financing through traditional financials like a bank or the car maker itself.

We’re understanding of all financial and credit circumstances, and will always try to secure you with the most suitable and appropriate car loan option. Our advisors are friendly and approachable, and we understand that everyone’s credit score is different.

Learn more about in-house financing.

Car loans made simple

Why we’re different

Our service is free, fully secure, and you’re under no obligation. Here’s what makes us different:

  • Auto loans for cars, trucks, vans, and SUV’s
  • Competitive rates
  • Quick approvals
  • Affordable payment terms
  • Bad credit, no credit
  • Tons of vehicle selection (14 dealerships)
  • Birchwood is a trusted Manitoban brand

We help all credit types

We have the experience and resources to help with all types of credit situations:

  • Slow, late or missed payment history
  • Car loans after bankruptcy
  • Consumer proposal
  • Repossession
  • New to Canada
  • Divorce
  • Low income
  • Orderly Payment of Debt
  • Poor credit due to unexpected events


Apply for your car loan

Applying for a car loan shouldn’t be stressful. We only ask for the information we need and finishing your application takes less than 3 minutes. Get started now!


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