In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews
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Canada Car Loans review

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Canada Car Loans
APR Range
2.99% - 34.99%
Loan Amount
$7,500 - No max.
Loan Term
12 - 96 months
Min. Credit Score
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Our verdict

Find a car loan online from a wide range of Canadian lenders.

Canada Car Loans is an online broker that can connect you with a loan from one of more than 15 lending partners. Available nationwide, these loans can be used at any of Canada Car Loans' 200+ partner dealerships, with terms of up to 96 months provided. Bad credit is accepted and funding is available within 24 hours.

Best for: Car buyers who want to find financing online, including borrowers with bad credit.


  • Easy application process
  • Bad credit accepted
  • 24-hour turnaround time
  • Loans from a wide range of lenders
  • Large dealership network


  • Not a direct lender
  • High rates for bad credit
  • Some other lenders have lower minimum income requirements

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Canada Car Loans?

Canada Car Loans is an online car loan broker. It offers access to more than 300 loan products from a network of over 15 lenders. Lenders that Canada Car Loans offers access to include:
  • TD Auto Finance
  • Royal Bank of Canada
  • Scotiabank
  • Bank of Montreal
  • Desjardins
  • CIBC
  • National Bank of Canada
  • General Bank
  • iA Auto Finance
  • Santander
  • Rifco
  • Northlake Financial
  • Eden Park
  • Source One
  • AutoCapital Canada
  • Axis Auto Finance
You can apply for an auto loan through Canada Car Loans by completing an online application. Its representative will then contact you to discuss and compare your options and find a loan that suits your needs.

Once approved, you can use the financing at any dealership within the 200-strong Canada Car Loans network. However, if you have your heart set on a certain vehicle, Canada Car Loans can make exceptions to reach out to those dealers to help you get the car you want.

Is Canada Car Loans legit?

Yes, Canada Car Loans is a legitimate provider. Established in 2011, it is registered as a limited company in Nova Scotia.

Canada Car Loans has an A+ rating from the Better Business Bureau (BBB) but is not BBB-accredited.

Summary of loans from Canada Car Loans

Minimum loan amount$7,500
Maximum loan amountNo maximum
Loan terms12 - 96 months
Rates2.99% - 34.99%
FeesNo establishment, monthly or express payment fees. Additional fees subject to lender discretion.
Brief eligibility criteria
  • Minimum credit score: 300
  • Minimum income: $1,900 a month
  • Minimum of three months in current job
Turnaround time24 hours
Serviced provincesAvailable nationwide

What we like about Canada Car Loans

  • Simple application process. You can apply for a car loan through Canada Car Loans in less than 10 minutes by filling out an online form.
  • Large lender network. With over 300 loan products from a network of more than 15 lenders, Canada Car Loans offers plenty of borrowing options.
  • Large dealership network. You can use Canada Car Loans financing at the 200 auto dealerships within its network around the country.
  • Loans that meet your needs. Once you apply, a Canada Car Loans representative will contact you to discuss your financial situation and borrowing needs. They’ll then help match you with a loan that suits your requirements.
  • Bad credit accepted. If your credit history is less than perfect, you can still apply and get approved for a loan.
  • No fees. There are no establishment or monthly administrative fees to worry about when you take out a loan.
  • Get funded in 24 hours. With a turnaround time of 24 hours, you can get fast access to the funds you need to buy your next set of wheels.
  • Available nationwide. Canada Car Loans provides loans for borrowers in all provinces and territories.

What to watch out for

  • $1,900 per month minimum income requirement. You’ll need income of at least $1,900 per month to apply. Some lenders have lower income criteria.
  • Not a direct lender. Canada Car Loans is a broker and not a lender, so you don’t borrow directly from this provider.
  • High rates for bad credit. If you’ve got a low credit score, lenders will typically offer you higher interest rates and lower loan amounts. Learn more about bad credit auto loans.

Summary of Canada Car Loans reviews

There are limited reviews for Canada Car Loans online. We couldn’t find any reviews on sites such as the Better Business Bureau or Google.

However, Canada Car Loans does have an average of 5 out of 5 stars from over 270 Facebook ratings.

BBB ratingA+
BBB customer reviews
Google reviews
Facebook reviews5 out of 5 stars based on 271 reviews
Customer reviews verified as ofFebruary 13, 2023

Am I eligible for a loan?

If you want to apply for a car loan through Canada Car Loans, you’ll need to meet the following criteria:

  • Minimum credit score of 300
  • Minimum income of $1,900 per month
  • Have been in your current job for at least three months

How to apply with Canada Car Loans

When you’re ready to apply for a car loan, here’s what you need to do:

  1. Click through to the application page on the Canada Car Loans website and then click “Start”.
  2. Select the type of vehicle you want to buy (car, truck, van or SUV).
  3. Select your monthly budget range.
  4. Estimate your credit rating.
  5. Specify whether or not you have ever had a vehicle repossessed.
  6. Enter your name, phone number and email address.
  7. Provide your address and specify how long you’ve lived there.
  8. Enter the monthly cost of your rent or mortgage.
  9. Enter your Social Insurance Number (SIN).
  10. Provide your date of birth.
  11. Specify whether you are looking to trade in a vehicle.
  12. Enter your employment and income information.
  13. Submit your application.

A Canada Car Loans representative will then contact you to help you find the right vehicle and loan.

How much will a car loan from Canada Car Loans cost?

Use the calculator below to work out your monthly payment amount and the total cost of a loan.

Car loan calculator

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Loan terms (in years)
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Fill out the form and click on “Calculate” to see your estimated monthly payment.


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Bottom line

If you’re in the market for a car loan, it’s worth checking out what Canada Car Loans has to offer. However, make sure you compare car loans from a range of providers to find affordable financing for your next set of wheels.

Compare other car loan options

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.

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