Car Deal Canada

Is Legit?

Is Legit? is an online auto financing platform that has been operating in Canada since 2010. Headquartered in Vancouver, British Columbia, the company specializes in providing car loans to borrowers with bad credit or subprime credit scores. Their primary selling point is the promise of easy approvals, quick turnaround times, and competitive interest rates, even for those with less-than-ideal credit histories. Even with the current high delinquent rate in Canada offers a good service for customers unable to get approved from prime banks.

Rather than acting as a direct lender, operates as a middleman, connecting borrowers with a network of subprime lenders across Canada. These lenders are willing to take on higher-risk borrowers who may have been turned down by traditional banks or credit unions due to their poor credit scores.

The company markets itself as Canada’s top financing resource for bad credit auto loans, claiming to offer low rates and hassle-free approvals. However, as we’ll explore further in this article, the reality may not always align with the marketing hype.

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Interest Rates and Fees

One of the most crucial factors to consider when evaluating an auto lender is the interest rates and associated fees they charge. advertises interest rates ranging from 4.99% to 29.99% APR (annual percentage rate) for their car loans. This broad range reflects the reality that your specific rate will depend on several key factors:


  • Credit Score: Your credit score is the primary determinant of the interest rate you’ll receive. Borrowers with excellent credit will qualify for rates on the lower end, while those with poor or bad credit will likely see higher APRs.
  • Income: Lenders want to see that you have sufficient income to comfortably make your monthly payments. Higher, stable incomes may result in better rates.
  • Down Payment: Making a larger down payment can reduce the overall risk for the lender, which could translate to a lower interest rate.
  • Vehicle Type: The specific vehicle you’re financing may impact your rate, as certain makes/models hold their value better over time.


While the upper limit of 29.99% APR may seem steep, it’s important to understand that specializes in subprime lending for borrowers with poor credit histories. This higher-risk lending necessitates higher interest rates to offset potential defaults.

One positive aspect of’s fee structure is that they do not charge any upfront application or processing fees. Additionally, they allow you to pay off your loan early with no prepayment penalties, which could save you money on interest charges over the long run.


Eligibility Requirements

To qualify for an auto loan through, there are several key eligibility criteria you’ll need to meet. First and foremost is a minimum income requirement of $1,500 per month before taxes. This income level helps demonstrate your ability to afford the monthly loan payments. 

In addition to meeting the income threshold, you’ll need to provide proof of income and residence. Typical documentation required includes recent pay stubs or employment letters, as well as utility bills or other documentation verifying your current residential address. Having this paperwork ready can help expedite the approval process.

Another important eligibility factor is having a valid driver’s license for at least 3 years. wants to ensure you have sufficient driving experience and history before approving a loan for a vehicle purchase. A relatively clean driving record is also preferred, though minor infractions may be acceptable depending on the circumstances.

Finally, most subprime auto lenders like those partnered with will evaluate your debt-to-income (DTI) ratio as part of the eligibility assessment. Generally, you’ll want a DTI ratio below 50% to increase your chances of approval. This ratio compares your total monthly debt payments to your gross monthly income, providing lenders insight into your ability to take on a new car loan payment.


The Good: Pros of Using

One of the primary advantages of using is the convenience and accessibility of their online application process. Unlike traditional lenders that require in-person visits or lengthy paperwork, allows you to apply for a car loan from the comfort of your home or on-the-go, 24 hours a day, 7 days a week. This streamlined approach saves time and eliminates the hassle of scheduling appointments or taking time off work.

Another significant benefit of is their extensive network of subprime lenders across Canada. By partnering with a diverse range of lenders specializing in non-prime auto financing, increases your chances of finding a lender willing to work with your unique credit situation. This broad network provides access to financing options that may not be available through traditional banks or dealerships, particularly for those with poor credit histories.

Furthermore, offers a glimmer of hope for individuals who have faced significant financial challenges, such as past bankruptcies or consumer proposals. While most lenders are hesitant to approve loans for individuals with such blemishes on their credit reports, recognizes that circumstances can change, and they are willing to consider applications from those seeking a fresh start. This inclusive approach opens doors for individuals who may have been previously denied financing opportunities.


The Bad: Cons of Using

While offers the convenience of quick online approvals for bad credit borrowers, there are several significant downsides to consider before applying through their service. Perhaps the biggest drawback is the exorbitantly high interest rates charged to subprime borrowers with poor credit histories.

According to’s website, their APR range spans from 4.99% all the way up to a staggering 29.99%. For those with credit scores below 600, it’s not uncommon to be quoted rates on the higher end of that spectrum, sometimes exceeding 25% APR. These astronomical interest charges can add thousands of dollars to the overall cost of financing a vehicle over the typical 4-7 year loan term.

Compounding the issue of sky-high rates are numerous complaints from consumers alleging misleading quotes and bait-and-switch tactics by Many report being initially quoted a reasonable rate during the pre-approval process, only to have that rate skyrocket when it comes time to finalize the loan agreement. This deceptive practice has understandably led to frustration and mistrust among borrowers.

Another frequent criticism leveled at is their lack of transparency surrounding fees and overall poor customer service. Fine print disclosures often reveal unexpected costs like acquisition fees, documentation fees, or mandatory add-ons like extended warranties or rust-proofing treatments. When combined with the already elevated interest rates, these hidden fees can make an loan considerably more expensive than initially portrayed.

Borrowers have also voiced complaints about long wait times, unreturned calls and emails, and an overall lack of responsiveness from’s customer support team. A common theme seems to be feeling left in the dark throughout the lending process with minimal transparency or guidance provided.


Is Legit or a Scam?

After extensive research into’s operations, customer reviews, and industry reputation, it’s clear that this company is completely legitimate and not an outright scam.

On the one hand, is not an unlicensed or illegally operating lender. They are a legitimate business based in Vancouver, BC that has been facilitating auto loans in Canada since 2010. Their website is secure, and they follow standard procedures like requiring proof of income, residence, and a valid driver’s license.

However, has garnered a concerning number of negative reviews from customers accusing them of deceptive practices. Common complaints include:


  • Misleading advertised rates that don’t match actual loan offers
  • Bait-and-switch tactics to get applicants to accept high-interest loans
  • Poor customer service and lack of transparency
  • Failure to properly disclose fees and terms


While is not an illegal scam operation, many customers feel misled and taken advantage of, especially those with subprime credit scores who end up with loans carrying interest rates as high as 29.99% APR. There are also concerns about the legitimacy of some lenders in their network.

Ultimately, operates in a legal gray area by connecting borrowers with subprime lenders offering extremely high rates. While not technically a scam, their marketing practices and customer experiences suggest a lack of transparency that borders on being unethical and deceptive.


Customer Reviews and Testimonials

No lender is perfect, and is no exception. To get a balanced perspective on their service, it’s important to look at real customer reviews and testimonials from people who have used the company. Here’s a sampling of feedback from across the web:


Positive Reviews:

“I had really bad credit from some past mistakes, but AutoFinance was able to get me approved for a decent used car loan. The interest rate was high at 24%, but it was my only option at the time. At least I could start rebuilding my credit.” – Mark T., Toronto

“Seamless online application and quick approval process. I had my loan funded within 3 days of applying through As a self-employed borrower, they were one of the few companies willing to look at my income situation.” – Jillian R., Vancouver

“While the interest rates are quite high, I appreciated AutoFinance’s transparency from the beginning. They were upfront that my poor credit would result in an expensive loan, but at least I knew what I was getting into. Their service reps were also helpful in explaining all the terms and conditions.” – David P., Calgary


Negative Reviews:

“I felt completely misled by the marketing on their website. The ‘low rate’ advertised was nowhere near what I actually qualified for with my credit. I ended up walking away because the 27% APR loan was just too predatory.” – Sarah M., Montreal

“Horrible customer service! I had to call multiple times to get updates on my application status, and the reps were unhelpful and rude. In the end, they kept hiking up the rate from the initial quote and I declined the loan.” – Chris B., Edmonton

“A word of warning – read the fine print carefully! There were all sorts of extra fees tacked on that weren’t clearly disclosed upfront. From admin fees to payment protection premiums, the costs just kept piling up. I felt completely deceived.” – Aisha K., Brampton


As these testimonials show, experiences with run the gamut. While they are able to approve borrowers with very poor credit histories, the tradeoff is often sky-high interest rates that make the loans extremely expensive over the long run. Transparency and customer service also appear to be issues based on some of the negative feedback.


Alternatives to

While presents itself as a convenient option for bad credit borrowers seeking auto loans, they are far from the only game in town. In fact, exploring alternatives could lead to more favorable rates, fees, and overall lending experiences. Here are some other avenues worth considering when shopping for bad credit car financing in Canada:


Traditional Banks and Credit Unions

Don’t overlook banks and credit unions, even with imperfect credit. Many major institutions like RBC, TD, Scotiabank, and certain credit unions offer subprime auto loan programs specifically designed for non-prime borrowers. Interest rates can be lower than online lenders, particularly if you have an existing banking relationship. It never hurts to check.


Dealership Financing

Car dealerships often partner with captive lenders (e.g. Ford Credit, Honda Financial Services) and special finance companies that cater to bad credit buyers. While dealer markups can inflate rates, you may find more personalized service and transparency than faceless online lenders. Be prepared to negotiate.


Online Lenders like Canada Drives and Go Auto has plenty of direct competitors in the online lending space, including major players like Canada Drives and Go Auto. These lenders often tout more borrower-friendly practices, lower fees, and better service than Compare rates and read unbiased third-party reviews.


Local Credit Unions or Community Banks

Don’t discount smaller regional and community banks/credit unions in your area. These lenders may have more flexible underwriting and personalized service compared to national institutions. Membership requirements can sometimes be easily met.


Peer-to-Peer Lending

Peer-to-peer (P2P) lending platforms like Lending Loop connect borrowers directly with individual investors willing to fund loans, including auto financing. These alternative lenders may consider factors beyond just credit scores.


The key is to explore multiple options and compare rates, fees, down payment requirements, customer service ratings, and overall reputations. Don’t simply take the first lender who approves you. Diligent research pays off, especially for non-prime borrowers.


Tips for Getting Approved with Bad Credit

If you have bad credit, getting approved for an auto loan can be challenging, but not impossible. Here are some tips to improve your chances of approval:


  1. Save for a larger down payment: Lenders view a higher down payment as a lower risk, as you have more equity in the vehicle from the start. Aim for at least 10-20% down, or as much as you can afford.
  1. Get a co-signer: Having a co-signer with good credit can help offset your poor credit history. However, the co-signer is equally responsible for the loan, so choose wisely.
  1. Provide proof of income: Lenders want to see stable employment and income to ensure you can make the monthly payments. Provide recent pay stubs, tax returns, or bank statements as proof.
  1. Consider a used vehicle: Financing a used car is often easier and more affordable than a new car, especially with bad credit. Look for a reliable, well-maintained used vehicle within your budget.
  1. Improve your credit score: While it may take time, work on improving your credit score by paying bills on time, reducing debt, and disputing any errors on your credit report.
  1. Shop around: Don’t just apply with the first lender you find. Compare interest rates, fees, and terms from multiple lenders to find the best deal for your situation.
  1. Explain your situation: If you have a legitimate reason for your bad credit (job loss, medical bills, etc.), provide a brief explanation to the lender. Transparency can help your case.


Remember, having bad credit doesn’t automatically disqualify you from an auto loan. With patience, preparation, and a willingness to shop around, you can increase your chances of approval and find a loan that fits your budget.


The Importance of Researching Lenders

When it comes to securing an auto loan, especially for those with less-than-perfect credit, it’s crucial to do your due diligence and thoroughly research your options. The decision you make can have long-lasting financial implications, and rushing into a deal without understanding the fine print can lead to costly consequences.

Reputable lenders should be transparent about their rates, fees, and terms, making it easy for you to compare offers side-by-side. However, some lenders may employ deceptive tactics, such as advertising low “teaser” rates that only a small percentage of borrowers qualify for, or burying hidden fees in the fine print.

Take the time to read customer reviews and complaints about each lender you’re considering. Look for patterns of dissatisfaction, such as reports of bait-and-switch tactics, poor customer service, or aggressive collection practices. While a few negative reviews are to be expected, a consistently poor reputation should raise red flags.

It’s also wise to check if the lender is accredited by organizations like the Better Business Bureau (BBB) and if they have a history of resolving customer complaints satisfactorily. Lenders with a solid track record of ethical business practices are more likely to treat you fairly throughout the loan process.

Remember, the interest rate and monthly payment are just one piece of the puzzle. Carefully review the loan terms, including the total cost of borrowing over the life of the loan, any prepayment penalties, and the conditions that could trigger default or repossession. A seemingly attractive interest rate may not be worth it if the lender has overly strict or predatory terms.

By taking the time to research and compare multiple lenders, you can increase your chances of finding a fair deal that fits your budget and credit situation. Don’t let the pressure of needing a car rush you into a decision you may regret down the road.


Rebuilding Credit After a Car Loan

For those with poor credit who obtain an auto loan through a subprime lender like, the opportunity to rebuild their credit score is a silver lining. By making consistent, on-time payments towards their car loan, borrowers can demonstrate responsible financial behavior and gradually improve their creditworthiness.

Each timely payment is reported to the major credit bureaus in Canada, such as Equifax and TransUnion. As these positive payment histories accumulate over time, they can offset past delinquencies or negative marks on a credit report. Consistently meeting loan obligations is one of the most impactful ways to raise a credit score.

It’s important to note that rebuilding credit is a gradual process that requires patience and discipline. Significant improvements may not be immediate, but every month of on-time payments adds another building block towards a better credit profile. Lenders view a long history of responsible debt management as a strong indicator of future repayment behavior.

In addition to making car loan payments diligently, borrowers can further bolster their credit rebuilding efforts by keeping other debt levels low, avoiding new delinquencies, and monitoring their credit reports regularly for errors or inaccuracies. A combination of these positive financial habits can pave the way for better credit access and more favorable interest rates in the future. vs. Dealership Financing

When it comes to securing an auto loan with bad credit, you generally have two main options: using an online service like or financing directly through the dealership. Both routes have their own pros and cons to consider.


Advantages of


  • Specializes in connecting bad credit borrowers with subprime lenders, increasing your approval odds
  • Allows you to easily compare rates and terms from multiple lenders with a single application
  • Offers pre-qualification with a soft credit check to avoid affecting your credit score
  • Provides financing for new or used vehicles, as well as private party purchases


Advantages of Dealership Financing:


  • Dealerships have a vested interest in getting you approved to sell their vehicles
  • Special incentives, rebates, and promotional rates may be available through the dealer
  • Face-to-face interaction and ability to negotiate terms in person
  • Convenience of one-stop shopping for the vehicle and financing


Drawbacks of


  • Higher interest rates on average compared to those with good credit
  • Potential for misleading quotes or bait-and-switch tactics from some lenders
  • Limited customer service support compared to dealing directly with the lender


Drawbacks of Dealership Financing:


  • Dealers may mark up interest rates or add extra fees to increase their profit
  • Less flexibility in shopping around for the best rates if only using the dealer’s lending partners
  • Potential for high-pressure sales tactics and negotiation fatigue


Ultimately, the right choice depends on your specific financial situation and personal preferences. With, you gain access to a wider network of lenders but may face higher rates. Dealership financing is more convenient but could mean paying extra markups and fees.


Subprime Auto Lending in Canada

The subprime auto lending industry in Canada plays a crucial role in providing financing options for individuals with poor credit or limited credit histories. This segment of the lending market caters to borrowers who may have faced financial challenges in the past, such as bankruptcies, consumer proposals, or missed payments, making it difficult for them to secure traditional financing from banks or credit unions.

Major players in the subprime auto lending space in Canada include companies like, Canada Drives, and Ride Time. These lenders specialize in working with borrowers who have credit scores below the prime lending threshold, typically ranging from 300 to 600 on the credit score scale. By offering higher-risk loans at higher interest rates, subprime lenders provide an opportunity for individuals to rebuild their credit while obtaining the necessary financing for a vehicle.

The subprime auto lending industry in Canada is regulated by various federal and provincial laws, aimed at protecting consumers and promoting fair lending practices. The Office of the Superintendent of Financial Institutions (OSFI) and the Financial Consumer Agency of Canada (FCAC) oversee the operations of federally regulated financial institutions, including some subprime lenders.

Additionally, provincial consumer protection laws, such as the Consumer Protection Act in Ontario and the Business Practices and Consumer Protection Act in British Columbia, provide guidelines and safeguards for borrowers engaged in subprime auto financing. These laws cover aspects like disclosure requirements, prohibited practices, and provisions for resolving disputes or complaints.

While subprime auto lending serves an important purpose by providing access to financing for those with poor credit, it is crucial for borrowers to exercise caution and thoroughly understand the terms and conditions of their loan agreements. High interest rates, strict repayment schedules, and potential penalties for missed payments can make subprime loans more expensive in the long run. Consumers are encouraged to shop around, compare offers from multiple lenders, and carefully evaluate their ability to make timely payments before committing to a subprime auto loan.


Understanding Credit Scores and Reports

Your credit score and credit report play a crucial role in the auto financing process, as lenders use this information to assess your creditworthiness and determine the interest rates and terms they’re willing to offer you. A good understanding of these factors can help you navigate the car loan application process more effectively.

Your credit score is a three-digit number that represents your creditworthiness to lenders. It’s calculated based on various factors, including your payment history, outstanding debt, credit utilization, length of credit history, and types of credit accounts. Scores typically range from 300 to 900, with higher scores indicating lower credit risk.

In Canada, the two main credit scoring models are the FICO score and the Vantage score. While the exact calculation methods differ, both models take into account similar factors. Lenders may use one or both of these scores when evaluating your loan application.

Your credit report, on the other hand, is a detailed record of your credit history. It includes information about your open and closed credit accounts, payment history, outstanding balances, credit inquiries, and any negative items such as collections, bankruptcies, or consumer proposals.

It’s important to review your credit report regularly to ensure the information is accurate and up-to-date. Errors or inaccuracies on your credit report can negatively impact your credit score and potentially hinder your ability to get approved for an auto loan or secure favorable terms.

When applying for an auto loan, lenders will typically pull your credit report and score from one or more of the major credit bureaus in Canada: Equifax and TransUnion. A higher credit score generally indicates a lower risk to the lender, which can result in lower interest rates and better loan terms.

If you have a poor or subprime credit score, it’s essential to understand the factors that contribute to your score and take steps to improve it before applying for an auto loan. This may involve paying down outstanding debts, correcting errors on your credit report, and establishing a positive payment history over time.


Conclusion: Final Thoughts on

After an in-depth analysis of, it’s clear that this online auto loan provider is not an outright scam, but there are certainly some red flags and areas of concern that prospective borrowers should be aware of.

On the positive side, does offer a legitimate service by connecting bad credit consumers with lenders willing to provide subprime auto financing. For those struggling to get approved through traditional channels, can open doors and make vehicle ownership more attainable.

However, the major drawback is the seemingly high interest rates and lack of transparency around the true costs of borrowing. While advertised rates start at a reasonable 4.99% APR, customer reviews suggest that actual approved rates for bad credit buyers are often much higher, sometimes exceeding 25% or even 30% APR. This level of interest can make an auto loan extremely expensive over its lifetime.

There are also numerous complaints about misleading rate quotes, bait-and-switch tactics, and poor customer service from Many borrowers felt misled about the terms they qualified for versus what was initially presented.

Ultimately, should be viewed as an option of last resort for bad credit car buyers who have been denied financing elsewhere. While they may be able to get you approved, the high interest rates could make the loan unaffordable in the long run. It’s crucial to thoroughly understand all costs, read the fine print, and compare offers from other subprime lenders before signing on the dotted line.

For those looking to rebuild credit, an auto loan from could help by adding a new tradeline to your report if payments are made responsibly. However, more affordable options with better reputations, such as in-house dealership special financing departments, credit unions, or online bad credit lenders, are generally preferable if you qualify.

At the end of the day, is not a scam, but it’s also not the most transparent or consumer-friendly lender in the subprime auto financing space. Proceed with caution, do your research, and make sure you can truly afford the loan you’re offered before moving forward.

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Questions About is an online auto financing company that provides car loans to consumers across Canada. They have been operating since 2008 and offer loans for new and used vehicles. works with a network of dealerships and lenders to match applicants with financing options based on their credit profile.


Reviews of are generally positive. Customers have praised their easy online application process, fast approval times, and competitive interest rates. However, as an online lender and loan broker, interest rates and loan terms may vary depending on each applicant’s specific financial situation. It’s important to compare options from multiple lenders before deciding.


Based on customer feedback and their years of operation, does appear to be a legitimate auto financing company operating legally in Canada. However, as with any lender, applicants should carefully review loan terms and ensure they are comfortable with all financing details before signing any agreements. offers a variety of auto loans to suit different budgets and credit situations. Their main loan programs include:


– New car loans – Financing for brand new vehicles from official dealerships

– Used car loans – Financing for used and pre-owned vehicles up to 10 years old

– Leasing – Both open and closed end leasing programs available

– Bad credit car loans – Specialized financing for those with past credit difficulties

– Refinancing – Lower interest rates on existing auto loans with other lenders


In addition, works with over 1000 dealerships across Canada to provide financing on specific makes and models. They offer loans for cars, trucks, SUVs, minivans and more. states that they work with applicants of all credit backgrounds. Even borrowers with bad credit or no credit history may still qualify for financing.


That said, interest rates and loan approval generally depends on your credit score:


– Good credit (700+ score) – Best rates as low as 4.99%

– Fair credit (600-699 score) – Higher rates from 9.99%

– Poor credit (below 600) – Subprime loans up to 29.99% rate


Those with good credit over 700 will qualify for prime lending rates under 10%. Applicants under 600 may still get approved but will pay higher subprime interest rates.


It’s recommended to check your current credit score first before applying. This gives you an idea of what rates to expect from lenders like

When applying for auto financing, there are a few key documents you should have ready:


– Valid government-issued ID – Driver’s license, passport, etc.

– Proof of income – Recent pay stubs, tax documents, bank statements

– Proof of address – Utility bill, bank statement with address

– Down payment – 5-20% of vehicle value required

– Trade-in paperwork (if applicable) – Ownership, loan balance details


Having these documents ready for upload or faxing will help speed up the processing and approval of your auto loan application. Income and down payment amount also factor into loan decisioning and terms. also requires vehicle details like make, model, year, mileage so have that information handy before starting your application.

One of the advantages frequently highlighted in reviews is their quick loan processing and decisioning timeline.


They tout an approval response in as little as 60 seconds for completed applications submitted during business hours Monday thru Friday.


Once approved, loan documents are provided immediately to print and sign electronically. After signed, funds can be issued to registered dealerships on your behalf typically by the next business day.


So in total, expect about 1-2 days to complete the entire application, approval, documentation, and funding process with when applying on weekdays. Timelines may take slightly longer on weekends or holidays.

As an online loan broker, does not directly finance loans themselves but rather connects applicants with third-party lenders and dealerships in their network. This allows them to offer competitive rates and more flexible approval standards.


The exact fees charged by may include:


– Application fee – Up to $249 admin fee depending on province

– Broker/referral fee – Paid by dealer/lender as commission

– Taxes – HST/GST on application fees where applicable


Outside of taxes on applicable fees above, states they do not charge any hidden fees or obligations for using their platform to find and compare auto loans. Lenders themselves may charge additional fees so be sure to review loan details closely.

Yes, offers pre-approval services to those shopping for a new or used vehicle.


Getting pre-approved gives you negotiating power at the dealership knowing exactly how much vehicle you can afford. It also speeds up the final purchase process since your financing is already arranged ahead of time.


To apply for pre-approval, you simply fill out the online application with some basic personal and financial details. will then provide a pre-approval letter with loan amount and rate if approved.


This letter is usually valid for 30-60 days for vehicle shopping purposes. Once the purchase is made, you return to to activate and finalize the loan for funding.

The surest way to get the lowest auto loan rates from is to have good credit. Applicants with credit scores above 700 qualify for their prime lending rates starting around 4-5%.


Beyond your credit rating, here are some other tips to save money on interest:


– Put down 20%+ as a down payment

– Choose a shorter loan term (e.g. 3 years instead of 7)

– Shop rates from multiple lenders before applying

– Consider a co-signer if your credit needs a boost


Getting pre-approved first also shows lenders you are a serious buyer allowing them to offer their best rates upfront to win your business.


Following these best practices can help those with good credit save thousands in interest charges over the life of their car loan.

The best vehicles to finance are often newer models of reliable brands that hold their value well over time. This helps ensure loan amounts remain below car values – an important consideration for lenders.


Based on these criteria, some top options to consider financing with include:


– Toyota Corolla or Camry

– Honda Civic or CR-V

– Mazda3

– Nissan Rogue

– Subaru Forester

– Ford F-150 or Escape


Sticking to 1-5 year old used models of vehicles above is ideal for getting approved financing at competitive rates. More expensive luxury or sports cars often have higher interest rates and stricter lending guidelines.

Yes, allows trade-in vehicles as part of their financing program if arranging loans through one of their certified dealers.


Here is how it works:


  1. Get pre-approved listing trade-in details
  2. Dealer appraises trade-in upon vehicle purchase
  3. New loan includes net value after trade-in
  4. Dealer handles paying out old loan on trade-in


This convenient process handles paying off your existing auto loan while rolling extra value from the trade-in to lower the financed amount of the new vehicle. Just be aware that dealers ultimately decide final trade-in value.

Here are 5 savvy tips for paying off car loans from faster:


  1. Make bi-weekly instead of monthly payments
  2. Pay at least 10-20% more each payment
  3. Make an extra lump sum payment yearly
  4. Refinance for a lower rate when credit improves
  5. Sell the car and buy cheaper once positive equity


Setting up bi-weekly payments that coincide with paychecks allows for an extra monthly payment each year, accelerating paydown faster. Additionally putting any windfalls like tax refunds towards the principal loan balance can shave off years of payments.


Sticking to a shorter 3 year loan term also means less interest paid compared to 5-7 year options. Combine all these strategies to pay off months or years faster! provides flexible auto financing terms between 24 and 96 months. Some common loan duration options include:


– 2 years (24 months)

– 3 years (36 months)

– 4 years (48 months)

– 5 years (60 months)

– 6 years (72 months)

– 8 years (96 months)


Longer terms up to 8 years allow for lower payments but result in far more interest paid over the full loan. Opting for shorter 2-3 year loans when possible saves significantly on interest while encouraging paying the car off faster.


Term lengths offered vary based on factors like vehicle type, loan amount, and applicant credit rating. Be sure to choose a term length you can manage to pay off comfortably based on your budget.

In additional to regular installment loan financing, also facilitates auto leases for clients looking for lower monthly payments.


Both open-end and closed-end leasing options are available on new makes and models sold through their certified dealer network across Canada.


Here are the basics of how each lease type works:


Closed Lease


– Lower monthly payments

– Fixed term (e.g. 3 years)

– Restricted annual mileage

– Option to buy vehicle at end of term


Open Lease


– Slightly higher payments

– More flexible early termination

– No mileage restrictions

– No buyout option at end


For those wanting to drive new vehicles more often, leasing can be an affordable option compared to financing the full purchase price. Make sure to compare costs vs benefits with to determine the best auto acquisition option for your situation.

Unfortunately, no. currently only provides financing on vehicles purchased from one of their certified third-party dealer partners located across Canada.


This allows them to ensure all financed vehicles meet important criteria like:


– Pass safety and mechanical inspections

– Verified ownership documentation

– Accurate odometer mileage


However, states they plan to offer financing options for private party purchases in the near future.


In the meantime, consumers looking to finance a private sale will need to arrange alternate financing through a lender like a bank or credit union. Rates may be higher without the dealer relationship discounts.

While specializes in loans for applicants with all credit backgrounds, most lenders still require a minimum down payment.


Typical down payment requirements average 5-20% of the vehicle purchase price. On a $30,000 car loan for example, you would need between $1500-$6000 down.


Those with excellent credit scores 700+ may qualify for special zero down financing promotions occasionally offered. However minimum down payments give lenders extra assurance you are invested in responsibly paying off the auto loan.


If you currently do not have sufficient savings, consider less expensive used models or waiting longer to improve your down payment fund first. This helps ensure greater loan approval success and better rates.

Yes, is able to arrange financing Canada-wide for vehicles purchased from dealer partners located anywhere across the country.


The auto loan application and approval process remains the same whether you are purchasing the car locally or out-of-province.


Once approved, coordinates payment directly to the registered dealership on your behalf when the sale is complete, regardless if the location is within your home province or not.


Just be aware that out-of-province purchases may require extra paperwork and registration fees from your provincial vehicle licensing office later on. Check provincial regulations before purchasing to understand any additional costs.

You can contact for inquiries or support at:


Phone: 1-888-300-1529


Office Hours: Monday to Friday, 7:00AM–6:00PM PST


Their head office mailing address is:



550-475 W. Georgia Street

Vancouver, BC

V6B 4M9


An online contact form is also available on their website at


Representatives are typically very responsive to online and phone inquiries during regular business hours listed above.

Yes, is an accredited A+ rated business with the Better Business Bureau (BBB). This means the BBB has confirmed their identity, licensing, operational transparency and responsiveness to customer complaints.


The BBB reviewed and gave them a strong A+ rating showing confidence in the company’s trustworthiness. Accreditation requires ongoing adherence to BBB standards.


Both the BBB accreditation and A+ rating help reassure consumers that is a legitimate and reliable company to deal with.

Yes, uses a soft credit check when you pre-qualify online to confirm likely approval rates and loan amounts.


Soft credit checks do not affect your credit score. They allow you to safely explore potential financing options worry free.


Once you formally submit a completed application for approval, then performs a hard credit check required for final loan decisioning. Hard credit checks may cause a small temporary drop in your credit rating.


Pre-qualification helps gives you confidence in the loan terms to expect while minimizing unnecessary hard checks that impact your overall score.

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