Rifco National Auto Finance provides bad credit car loans through its large network of partner dealerships across Canada. Loans of up to $55,000 are available, and you can get approved in five minutes and funded within 24 hours of approval.
It’s a major lender of subprime car loans, but if you want alternatives, check out the list below.
CarsFast offers loans like Rifco through its network of dealerships across Canada. You can apply for auto financing online and get approved within minutes, and you get the flexibility of comparing loans from multiple lenders before choosing the right loan for you. It's also possible to qualify for financing with bad or no credit.
Online loan search platform Loans Canada allows you to compare auto financing options from multiple lenders. It's quick and easy to fill out an online application, and you'll then be matched with lenders who are willing to offer you a loan. Like Rifco, bad credit won't stop you from getting a loan.
Approval Genie offers auto financing options for borrowers with good or bad credit. It operates a network of dealerships in Ontario, and its network of lending partners can help you find a loan and rate that meets your needs.
Dealerhop is an online auto financing marketplace where you can apply for car loans like Rifco National Auto Finance. You can apply and get pre-approved online, and Dealerhop will then match you with a third-party lender or dealership. You also get the option of buying your car in-store or arranging to have it delivered to your home.
Clutch is an online car dealership where you can buy and finance your next vehicle. If you select 'Financing' at checkout on the Clutch website, you can apply to get pre-qualified in minutes without affecting your credit score. You'll then be matched with one of Clutch's lending partners to finance your vehicle, and the car you buy can be delivered to your door.
Completely online car buying and financing experience
Easy application process
Get pre-qualified in minutes
10-day return policy
Only in Ontario and Nova Scotia
Prices are non-negotiable
You may need a cosigner if you have bad credit
Loan amount
Starting at $7,500
APR
Starting at 8.99%
Term
24 - 96 months
Interest Rate Type
Fixed
Min. Credit Score
580
Fees
Service fees will apply depending on where you live: $899 in Nova Scotia
Like loans from Rifco, applying for auto financing through Canada Drives is easy. Once you fill out a single online application and get pre-approved, Canada Drives will connect you with a local dealership to show you which vehicles from its inventory you're able to purchase. If you're happy with the loan offer and you find a suitable car, you can get your next set of wheels in as little as 48 hours.
Easy online application process
Financing for all types of credit
Large dealership network
Available in all provinces
High rates for bad credit
You're limited to its network of dealerships
Loan amount
$5,000 – $75,000
APR
Undisclosed
Term
12 - 96 months
Interest Rate Type
Fixed
Min. Credit Score
400
Origination Fee
N/A
Turnaround Time
Less than 24 hours
How does Rifco compare?
Rifco National Auto Finance specializes in bad credit car loans. Here’s a quick rundown of Rifco’s pros and cons to give you a better idea of how it stacks up against the competition.
Pros
High approval rate
Bad credit or no credit is okay
Large loan amounts of up to $55,000 available
Approval within five minutes
Get funded within 24 hours of being approved
Large network of dealers across Canada
Cons
High rates for bad credit
$10,000 minimum loan amount
High minimum monthly income requirement of at least $2,000
High application fee
Financing tied to specific dealers
Mixed customer reviews
Is Rifco legit?
Rifco National Auto Finance was founded in 2002 and is based out of Red Deer, Alberta. It has a large network of partner dealerships across the country, including recognizable brands like Go Auto and 401 Auto Financing.
Rifco National Auto Finance is also Better Business Bureau (BBB) accredited with an A+ rating.
What are Rifco’s interest rates?
Rifco doesn’t list interest rate ranges on its website. However, based on other providers on the market, you can expect high loan APRs of up to 29.99% if you apply with bad credit.
Summary of Rifco reviews
Online customer reviews for Rifco are mixed. People who left positive reviews mentioned factors like helpful customer service, trouble-free repayments and the fact that Rifco works with bad credit borrowers. But people who left negative reviews complained about factors like bad collection practices, high interest rates and loan fees.
Site
Details
Google
2.5 out of 5 stars based on 341 Rifco reviews
Trustpilot
2.9 out of 5 stars based on 2 Rifco reviews
BBB accreditation
Yes
BBB rating
A+
BBB reviews
1.28 out of 5 stars based on 25 Rifco reviews
Reviews as of January 30, 2025
Key features of car loans like Rifco
Lenders like Rifco National Auto Finance provide dealership financing to car buyers with less-than-perfect credit. Here are the key loan features you can typically expect with auto loans like Rifco:
Apply at the dealership. Once you’ve found a car you want to buy, you can get financing through the dealership.
Bad credit borrowers can apply. Loan providers like Rifco cater to borrowers with no credit or bad credit. However, you can typically expect high interest rates if you have bad credit.
Large loan amounts. Large amounts are available, but the amount you’ll get approved for will depend on your personal financial situation.
Long loan terms. Flexible loan terms are available, often ranging from 24 to 84 months.
Fast access to funds. Loan providers like Rifco can provide an initial approval decision within a few minutes, and the loan will typically be disbursed to the dealership to pay for your car within 24 hours of approval.
Large dealership network. You can shop at dealerships across Canada, so you can easily find the right car for your needs.
Secured. The vehicle you purchase will be used as collateral for the loan.
Bottom line
If you prefer not to apply through Rifco, there are several Rifco alternatives available in Canada. Compare car loans to find affordable financing for your next vehicle.
Frequently asked questions
It's not clear which dealers Rifco works with since there isn't a list posted anywhere on the company website. Contact your local dealerships to ask which lenders they are partnered with to find out.
The interest rate you get will vary depending on factors like your credit score, your income and employment history, the length of the loan term and how much you need to borrow. Check out our guide on car loan interest rates for more information.
Tim Falk is a freelance writer for Finder. Over the course of his 15-year writing career, he has reported on a wide range of personal finance topics. Whether you're investing in stocks and ETFs, comparing savings accounts or choosing a credit card, Tim wants to make it easier for you to understand. When he’s not staring at his computer, you can usually find him exploring the great outdoors. See full bio
Who is currently offering zero percent financing on cars in Canada? See offers from popular car brands in Ontario, BC, Alberta and more.
How likely would you be to recommend Finder to a friend or colleague?
0
1
2
3
4
5
6
7
8
9
10
Very UnlikelyExtremely Likely
Required
Thank you for your feedback.
Our goal is to create the best possible product, and your thoughts, ideas and suggestions play a major role in helping us identify opportunities to improve.
Advertiser disclosure
Finder.com is an independent comparison platform and information service that aims to provide you with the tools you need to make better decisions. While we are independent, the offers that appear on this site are from companies from which Finder receives compensation. We may receive compensation from our partners for placement of their products or services. We may also receive compensation if you click on certain links posted on our site. While compensation arrangements may affect the order, position or placement of product information, it doesn't influence our assessment of those products. Please don't interpret the order in which products appear on our Site as any endorsement or recommendation from us. Finder compares a wide range of products, providers and services but we don't provide information on all available products, providers or services. Please appreciate that there may be other options available to you than the products, providers or services covered by our service.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.