In this guide

  • Our verdict
  • Details
    • Product Details
    • Fees
    • Application Requirements
  • Frequently asked questions
  • Your reviews
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Car Loans Canada
APR Range
7.49% - 34.99%
Loan Amount
Loan Term
12-96 months
Min. Credit Score
All information about Car Loans Canada has been collected independently by Finder. Finder is not connected with Car Loans Canada products, and this page is not sponsored, endorsed or administered by, or associated with, Car Loans Canada. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Want to save money on your next car loan? Use this innovative platform to compare lenders and lock in competitive rates.

Car Loans Canada is an unique platform that helps you compare financing from multiple lenders and shop for a car all in one place. Search thousands of vehicles online, including $0 down options, from dealers across the country and get matched with affordable financing options. Auto loans are also available to those with bad credit and bankruptcies to help rebuild credit.

To be eligible, you must be at least 24 years old, have a valid source of income of at least $2,000 per month and be employed for 3+ months.

Best for: People with any credit score looking for a competitive rate


  • Competitive interest rates
  • Get access to a network of over 300 lenders
  • Get financing quotes from multiple lenders at once
  • Apply in as little as 2 minutes


  • Not available in QC, YT, NT, and NU
  • Potentially higher rates for bad credit borrowers

In this guide

  • Our verdict
  • Details
    • Product Details
    • Fees
    • Application Requirements
  • Frequently asked questions
  • Your reviews


Product Details

Product Name Car Loans Canada
APR Range 7.49% - 34.99%
Loan Amount Varies
Loan Term 12-96 months
Loan Security Secured
Serviced Provinces/Territories AB, BC, MB, NB, NL, NS, ON, PE, SK
Turnaround Time 48 hours
More Info


Application Fee N/A
Fees Varies by lender, loan type and province
Origination Fee N/A

Application Requirements

Requirements Min. income of $2,000 /month, 3+ months employed
Min. Credit Score 300
More Info

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

Overall customer satisfaction score: 81.36%

What is Car Loans Canada?

Car Loans Canada is an innovative online platform where, by filling out 1 simple application, you access multiple loan offers across many lenders. Getting pre-approved for financing before shopping for a vehicle means you know exactly how much you can spend on a car and at what interest rate. You’ll then be able to shop for your car through Car Loans Canada with the option to have it delivered straight to your home.

After you fill out your application, you’ll be contacted by a customer service agent and connected to a list of auto financing providers. Interest rates on your car loan will vary based on your personal financial situation as well as the amount and length of your loan.

Is Car Loans Canada legit?

Yes, Car Loans Canada is a legitimate company that has served over 1.6 million Canadians since its founding in 2002. The company is headquartered in Toronto, Ontario. Car Loans Canada is partnered with other big names in the vehicle and credit space like Canadian Black Book, Equifax, BMO and CIBC.


Canada Auto Finance secured a spot in the Top 15 Best-Rated car loan providers in the Finder: Car Loans Customer Satisfaction Awards 2023.

What are the benefits of a loan with Car Loans Canada?

  • Fast application. Apply for financing within 2 minutes.
  • Top partners. Car Loans Canada works with top names in the automotive and financial industry. This includes major financial institutions like some of Canada’s Big Five banks.
  • Flexible payment options. You can choose to make your payments weekly, bi-weekly or monthly, depending on your preferences.
  • Open-ended loans. You can pay your loan off in lump sums with no penalty for early repayment.
  • Long terms. You’ll be able to lock in a term lasting up to 8 years to help bring your monthly payments down.
  • No down payment. It’s possible to get a loan without paying any money out of pocket to secure your vehicle.
  • Large inventory. You can select from an extensive inventory of vehicles with Car Loans Canada’s certified approval centres.
  • All credit is accepted. You have options even if you have bad credit.
  • Bankruptcy is considered. If you’re going through bankruptcy or have experienced it in the last few years, you can still qualify.
  • SIN not required for pre-approval. You don’t need to provide your Social Insurance Number to get pre-approved.

What to watch out for

  • Only some lenders showcased. You’ll only get quotes from lenders that Car Loans Canada works with, which could lead you to miss out on a good deal elsewhere.
  • Fee for cancellation. You won’t be able to cancel your loan without penalty since Car Loans Canada doesn’t offer a cooling-off period.
  • Additional fees. You may encounter additional fees and extra costs as you go through the loan process, depending on which provider you go with.
  • High rates for bad credit. You could end up paying higher than normal rates for your loan if you have a bad credit score.
  • Not available in all of Canada. You won’t be able to use Car Loans Canada in Quebec or the territories.
  • No online quotes. You’ll have to speak to a customer service representative over the phone to get a list of quotes for your next car loan.

What types of car loans does Car Loans Canada offer?

There are a number of different types of loans you may be able to qualify for when you apply for financing with Car Loans Canada.

  • New car loans. Car Loans Canada can connect you with financing to buy a new car.
  • Used car loans. You can usually apply for used car financing through Car Loans Canada as well.
  • Bad credit loans. You can apply for financing and get pre-approved for a loan even if your credit isn’t in the best shape.

Where can I buy my vehicle once I’m approved?

Once you’re pre-approved for financing, you’ll have the option to purchase the make and model of the vehicle you want through a Car Loans Canada approval centre. These centres are stocked with a massive inventory of vehicles so you can pick and choose which one makes the most sense for you, without breaking the bank.

How do I qualify for Car Loans Canada?

The exact eligibility requirements needed to qualify for financing from Car Loans Canada will depend on the partner lender reviewing your application.

That said, car loan lenders typically want borrowers to be the age of the majority in your province or territory, have a minimum monthly income of $2,000 or more and be employed for at least 3 months. You’ll also likely need to have a recurring source of income, a valid Canadian bank account and be a Canadian citizen or permanent residence.

On top of this, you may be required to consent to a credit check and submit the following documents:

  • Proof of identity (like a driver’s license or passport)
  • Proof of income (like bank statements or recent tax returns)
  • Your proof of residence
  • Your proof of insurance

What provinces is Car Loans Canada available in?

Car Loans Canada is available in the following provinces: AB, BC, MB, NB, NL, NS, ON, PE, SK. The financing you’ll get and the lenders available to you will vary by province and you may not be able to access financing in remote areas. That said, most major cities will be covered.

Compare other 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
12 - 96 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.

How do I apply for Car Loans Canada?

If you want to apply for a loan with Car Loans Canada, head to its website and click the “Get Started” button in the top menu or the “Apply Now” button next to the top picture to begin the online application.

Once you fill in the application, you’ll then be contacted by a customer service agent to discuss your car loan needs. From there, you’ll be supplied with a list of lenders willing to finance you and you can choose the loan that best fits your needs.

Once you’re pre-approved, you can use your loan to purchase a vehicle from Car Loans Canada‘s extensive inventory consisting of all makes and models across Canada. Browsing the inventory after getting approved is convenient because you don’t have to worry about how you’re going to get the money to get your car on the road.

How much will my Car Loans Canada financing cost me?

The cost of your loan will depend on which lender you choose from the list of providers willing to finance you. Most lenders will charge interest rates that sit between 7.49% and 34.99%, depending on certain personal factors. These can include your credit score, your monthly income, the term of your loan and what type of vehicle you want to purchase.

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Depending on what interest rates you secure, you may be able to save hundreds of dollars by comparing multiple lenders through Car Loans Canada‘s tech-driven process. Just be aware that this platform will only list the rates of providers that it works with. For this reason, you might want to go online and request quotes from a few unlisted options to make sure you’re getting the lowest rates.

I got Car Loans Canada financing. Now what?

Your repayment options should be outlined in your loan contract when you apply. You’ll typically be able to pay your Car Loans Canada financing back over a term that lasts between 12 months and 96 months. These repayments will be scheduled to come out of your bank account weekly, bi-weekly or monthly.

You might also be eligible to pay your loan off early without penalty if you’re interested in wiping out your debt as quickly as possible.

Frequently asked questions

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