In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
Finder makes money from featured partners, but editorial opinions are our own.

Canada Auto Finance review

  • Avatar
Canada Auto Finance
APR Range
4.90% - 29.95%
Loan Amount
$500 - $45,000
Loan Term
3 - 96 months
Min. Credit Score
All information about Canada Auto Finance has been collected independently by Finder. Finder is not connected with Canada Auto Finance products, and this page is not sponsored, endorsed or administered by, or associated with, Canada Auto Finance. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Get connected with local dealers who can help you secure a car loan even if you have bad credit.

Canada Auto Finance is a worthwhile option if you're looking for a car loan but you don't have the best credit score, or if you're looking for an easy application with a quick response. All you need to do is fill out basic personal information, including details about your income. From there, you'll be contacted by a local lender who can pre-approve you for a loan.

Best for: People with bad credit looking for a car loan.


  • Same-day approval
  • Accepts bad credit, no credit and bankruptcy borrowers
  • Unusual types of income accepted
  • Long loan terms available


  • High rates for bad credit
  • Limited to dealerships in the Canada Auto Finance network
  • No online comparisons
  • Limited reviews

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

Canada Auto Finance was included in the Finder: Car Loans Customer Satisfaction Awards 2023.

Overall customer satisfaction score: 81.92%

What is Canada Auto Finance?

Canada Auto Finance is a car loan matching service that connects you to a car loan from a dealer in your area. It specializes in bad or no credit lending. Canada Auto Finance is free to use and you are under no obligation to accept any of the quotes you receive. It operates entirely online to offer its services all across Canada.

Is Canada Auto Finance legit?

Canada Auto Finance is a car financing lead generation business in Canada. It is headquartered in Richmond Hill, Ontario, and is partnered with local dealers across Canada.Canada Auto Finance doesn’t issue any loans itself, but instead connects you with dealers and lenders who can help you with your car purchase.


Canada Auto Finance secured a spot in the Top 15 Best-Rated car loan providers list in the Finder: Car Loans Customer Satisfaction Awards 2023 with a customer satisfaction score of 79.23%

Features of Canada Auto Finance car loans

Loan amount$500 – $45,000
Loan term3 - 96 months
APR4.90% - 29.95%
Serviced provincesAll provinces and territories
Eligibility requirementMin. income of $1,500 /month, 3+ months employed, min. credit score 300

What are the interest rates of Canada Auto Finance?

Canada Auto Finance won’t determine the interest rate for your loan or provide your financing. It’s a car loan matching service, connecting applicants with local car dealers that will approve your loan, provide your financing and set your terms.

Your APR – or annual percentage rate – is typically determined by a number of factors, including the amount you’re looking to finance, the term of the loan, your down payment, your credit score, and the age and mileage of the vehicle you finance.

You can expect to see a range of APRs from 4.9% to 29.95%.

What we like about Canada Auto Finance

  • Easy, secure online application with quick pre-approvals. After filling out the application form online, you’ll be pre-approved and hear from a local dealer on the same day.
  • Loans provided to those with bad credit or no credit. Canada Auto Finance offers car financing for any type of credit situation.
  • Access to different types of lenders. Some dealerships partnered with Canada Auto Finance offer in-house financing, so customers with bad credit – or no credit – can apply for an auto loan directly with the dealership.
  • No fees. You won’t pay any fees for using the Canada Auto Finance application process.
  • No co-signer needed. You can apply for financing without a co-signer on your loan.
  • No down payment. It’s possible to get a loan without paying any money out of pocket to secure your vehicle.
  • Lengthy terms. You’ll be able to lock in a term lasting up to six years to help bring your monthly payments down.
  • National reach. Canada Auto Finance is partnered with dealerships in all provinces and territories across the country.
  • Large inventory. You can choose from new and pre-owned cars, trucks, SUVs and minivans on offer from dealerships partnered with Canada Auto Finance.
  • Fast turnaround time. In most cases, you can expect to hear back with a response on your car loan application in less than 24 hours.
  • Flexible repayment options. You may be eligible to pay off your loan early without any penalties if you’re interested in getting out of debt faster. If needed down the road, you can also ask your dealer about refinancing your loan. You’ll pay your loan back in bi-monthly or monthly installments over three to six years.

What to watch out for

  • Only some lenders showcased. Canada Auto Finance limits the number of local dealerships it works with in each region, so you’ll only get quotes from a segment of lenders. Be sure to request quotes from a few options to make sure you’re getting the lowest rates.
  • Potential for additional fees. While Canada Auto Finance doesn’t charge any fees for its application process, you may encounter additional fees and extra costs as you go through the loans process with your lender.
  • Steep interest rates for bad credit. You may be able to secure auto financing despite having bad credit or no credit at all, but you could end up paying interest at a rate as high as 29.95% for your loan. Learn more about bad credit auto loans.
  • No online quotes or online comparisons. After you submit your application, a local dealer will contact you by telephone to go over your loan request. Other services let you compare multiple lenders at one time on an easy-to-navigate platform so you can do your homework on various offers and interest rates before making a decision.

Alternatives to Canada Auto Finance car loans

1 - 6 of 6
Name Product Ratings APR Range Loan Amount Loan Term Requirements Broker Compliance
CarsFast Car Loans
Customer Survey:
3.90% - 29.90%
$500 - $75,000
12 - 96 months
Requirements: Min. income of $2,000 /month, 3+ months employed
CarsFast will connect you with a dealership near you to help you find the right financing.
Loans Canada Car Loans
Customer Survey:
0% - 46.96%
$500 - $50,000
3 - 60 months
Requirements: Min. income of $1,800 /month, 3+ months employed
Loans Canada is a loan search platform. Get matched with a suitable dealer based on your credit history and borrowing requirements.
Approval Genie
Not yet rated
3.90% - 29.90%
$500 - $75,000
12 - 96 months
Requirements: Min. income of $2,000 /month, 3+ months employed, Ontario only
Get customized car loan and auto financing solutions for a used vehicle that fits your budget and lifestyle.
Dealerhop Car Loans
Not yet rated
6.99% - 29.99%
$7,000 - $50,000
3 - 120 months
Requirements: Min. income of $2,000 /month, 3+ months employed
Dealerhop matches you with a dealer partner to get you financing.
Clutch Car Loans
Customer Survey:
From 8.49%
$7,500 - No max.
12 - 96 months
Requirements: 3+ months employed, Max.1 bankruptcy, Ontario & Nova Scotia only
Apply for financing with online dealer Clutch, who partners with some of Canada’s largest financial institutions to get you competitive interest rates.
CarDoor Car Loan
Customer Survey:
From 7.99%
$5,000 - No max.
12 - 96 months
Requirements: 3+ months employed, Max.1 bankruptcy, Ontario only
Online dealer CarDoor works with multiple lenders to help you get a competitive interest rate. Apply for financing directly with CarDoor and get help every step of the way.

Summary of Canada Auto Finance reviews

BBB accreditedNo
BBB ratingN/A
Google reviewsNo Canada Auto Finance reviews available
Trustpilot scoreNo Canada Auto Finance reviews available
Facebook reviewsNo Canada Auto Finance reviews available
Customer reviews verified as of23 August 2023

What are Canada Auto Finance‘s car loans?

Canada Auto Finance offers a number of types of loans you may be able to qualify for.
  • New and used car loans. Get approved for a loan to buy a new or pre-owned car, truck, SUV or minivan from dealers partnered with Canada Auto Finance.
  • Bad credit car loans. Canada Auto Finance emphasizes the fact that you can still apply for financing and get approved for a loan even if you have no credit history or bad credit.

How does borrowing from Canada Auto Finance work?

Once you fill out an online application form and you’re pre-approved for financing, you’ll be contacted by a local dealer partnered with Canada Auto Finance. You’ll work with the dealer to create an auto loan specific to your needs and purchase the make and model of the vehicle you want through them.

You can take out financing for new and pre-owned cars, trucks, SUVs and minivans; however, motorcycles are excluded from financing.

What are the eligibility requirements of Canada Auto Finance?

To be eligible for a Canada Auto Finance loan, you’ll need to meet the following criteria:

  • Be a Canadian resident, 18+ years old, with a valid Canadian address.
  • Have been employed for at least 3 months, with a minimum monthly income of at least $1,500 if your credit score is less than 625.
  • Have a valid driver’s licence and be the age of majority in your province.
  • Have a down payment. While it isn’t always necessary, having a down payment available when trying to get a car loan can be helpful, especially if you’re an applicant with bad credit.
  • Have a valid Canadian bank account to make payments on time.
  • Have all bankruptcies discharged at the time of applying. You also shouldn’t have any repossessions in the last year unless they’re included in a bankruptcy that’s been discharged.

How to apply for a Canada Auto Finance auto loan

Follow these steps to apply for financing from Canada Auto Finance:

  1. Click the green ‘Go to site’ button above to be securely redirected to the Canada Auto Finance online application.
  2. The application form asks for personal information, including your full name, email, date of birth, your address and contact details. You’ll also be asked about your employment and monthly income.
  3. Once you fill in the application, you’ll be contacted by a local dealer willing to finance you and you can choose a loan that best fits your needs from what’s on offer.
  4. Once you’re approved, you can use your financing to purchase a vehicle from the dealer who contacted you.

Bottom line

Canada Auto Finance is worth considering if you need a bad credit car loan or you have limited credit history. It offers the convenience of both getting a car loan and shopping for your car all from the comfort of your home. However, you’ll be limited to dealerships within the Canada Auto Finance network.

Frequently asked questions

Go to site