Review – Is it a scam?

National Finance Journal which you can find at is a blog about getting an auto loan in Canada. The posts you can find in National Finance Journal are all those relating to getting an auto loan. Some examples of articles you can find here include Tricks for Getting Car Loan with Bad Credit, How a Woman Drove Away in Sports Car despite bad credit, and How to Get a Car Loan easily. Obviously, the website wanted to convince you that it’s easy to get a car loan even if you have bad credit.

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Getting an auto loan regardless of your bad credit may seem like a cool idea. Yes, it’s cool but it’s not a good idea. For money-savvy people, getting an auto loan despite bad credit will only make your financial situation worse. It’s also worth to note  that there is subprime auto loan bubble forming in Canada this year.

It all started in 2008 when auto loans from Canadian banks have grown at a rate of 21%. And with car companies increasing their amortization period of up to 96 months, more Canadians are getting into the auto loan bandwagon, often choosing more expensive car models. In a report from a debt rating agency, it revealed that some people are borrowing up to 135% of the vehicle’s value which is just insane.

Final thoughts on

If you’re thinking of getting a car loan despite your bad credit, then this website may provide you with some good tips. However, it’s good to bear in mind that getting a car loan more than what you can afford is a bad financial decision.

In Ontario, there is Ontario Motor Vehicle Industry Council (OMVIC) where you can find quality but affordable used cars.  They provide you with good options so you can get a good running vehicle for a smaller loan. Check them out at .