Buying a car can be stressful. Obtaining an auto loan can be even more stressful! Here at Car Finance Canada we completely understand those stressors. However, we’re here to tell you that you won’t be needing to worry about such things for any longer. Our primary goal is to make buying a car via one of our auto loans as easy and efficient as possible. Below we’ve put together a comprehensive FAQ to make obtaining an auto loan from us that much easier. Feel free to contact one of our representatives if you have any questions that are not answered below.

Why choose us over others?

Unlike other auto loan companies, we believe in doing what is right. Regardless of your current situation, we work to fulfill your needs. Have bad credit? Not to worry, we’ve got your back. Racked up debt? We’ll help you out of it. The entire process itself is incredibly easy, and will not put you through any stress. Our highly trained employees understand that this can be stressful, so they do everything in their power to make your experience easy and as calming as possible.

How does this process work?

The process is actually quite simple, and very easy. All you’ll need to do is go to our website, select a vehicle from our inventory, and begin your application! For bad credit applications, you have one step before beginning your application. Come see us! We’ll craft an application that’ll suit your needs best, and come up with a plan customized for you should you be accepted. Acceptance should take no longer than a day. Once you’ve been accepted, choose your specified payment plan, and you’re good to go!

Keep in mind that you can absolutely do the majority of this process online.

What to keep in mind?

When purchasing a vehicle using an auto loan, keep in mind the vehicle details (cost, mileage, year, condition, etc), your personal information (for the application), as well as your credit history details. Contact us for more information in regards to credit history details.

What is a Credit Score?

A credit score is simply a rating between 350 to 800 that describes how responsible you are when it comes to borrowing money. The closer you are to 800, the better your credit rating is deemed to be. The closer to 350 you are, the worse it gets.

A credit score is calculated using your current debt, your payment history, your public records, and of course your credit history.

Rates According to Credit Score

If you have bad credit, and a lot of debt racked up, your rates will, unfortunately, be somewhat high. We can, however, work around this, and develop a plan that works just right for you. Should your credit rating be very good, your rates will be very low and affordable.

What will I be paying monthly?

This payment is based on your specific payment plan, the timeliness of said plan, and the Annual Percentage Rate (APR).

What if I dislike the vehicle I’ve purchased?

Should you not like the car, you’ll get a full refund, and access to our inventory once again.

What are my payment options?

Speak to a representative from Car Finance Canada for detailed information on payment and payment plans.

If I have bad credit, will securing an auto loan help?

Yes, the Canadian credit bureau receives information pertaining to how the auto loan went. Should you pay off the loan successful, your credit rating will go up.

Do I have to purchase a vehicle once I’ve applied?

No, absolutely not. Once you’ve been accepted, you are given options as to how you’d like to proceed. One of those options is to back out.

What types of vehicles do you have?

Our dealerships contain dozens of types of vehicles. Pickup trucks, sedans, coupes, SUVs, vans, and even motorcycles.