CarsFast Review 2026: Is It Legit?

This review is about CarsFast.ca. CarsFast.ca is owned by Consumer Genius Inc., which also owns brands such as LendingArch, Loanz, Approval Nation and ComparisonGenius.

What is CarsFast.ca?

CarsFast is an online comparison platform that gives you access to various financing options for your next car loan. With one quick application, you can use its free service to compare rates from multiple lenders who have pre-approved you and see which vehicles are on sale from hundreds of dealers.

Is CarsFast legit?

Yes. CarsFast has approved over 350,000 borrowers across Canada. It has access to 350 dealerships across the nation and has a network of car loan providers that includes some of Canada’s biggest banks. CarsFast’s CEO was chosen as a Top 40 Under 40 auto professional in the 2022 Auto Remarketing awards.

CarsFast car loan features

Features	Details
Loan amount	$500 – $75,000
Loan term	12 - 96 months
Fees	Varies by lender, loan type and province
Basic eligibility criteria	Min. income of $2,000 /month, 3+ months employed
Minimum credit score	300
Approval time	Get pre-approved in less than 60 seconds.

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What are CarsFast’s car loan interest rates?

CarsFast’s interest rates range from 3.90% - 29.90%. They depend on the lender and the borrower’s financial profile, credit history and loan term. Borrowers with strong credit and stable income are typically offered rates near the lower end of the range, while those with weaker credit or higher perceived risk may receive higher rates. You’ll also save money on interest if you make a down payment on your vehicle or pay off your loan early.

What we like about CarsFast.ca

• Easy, secure online application. Fill out an online application in less than five minutes and get matched with lenders who want to finance you.
• Multiple lenders. You’ll get quotes from several lenders when you apply, which means you can compare the rates on offer and choose the best loan for you. Partners include TD, RBC, BMO, CIBC, Rifco, General Bank of Canada, Ally and more.
• Quick pre-approvals and financing. You may be able to get financing for your vehicle in a couple of days, depending on the lender you choose and how much you want to borrow.
• Lengthy terms. You may be able to take up to 96 months to pay off your loan, depending on how much you borrow. Try not to prolong the length of your loan if you don’t need to. Your goal is to get out of debt as quickly as possible.
• Bad credit doesn’t matter. CarsFast will not place much emphasis on your credit score and will focus on your income instead.
• Available across Canada. CarsFast compares 350 dealers from all across Canada, so you can get financing from just about anywhere.
• No fees. You won’t pay any fees for using the CarsFast application.
• Trade-ins accepted. CarsFast is happy to work with trade-ins, even if you still owe money on your vehicle. You can also use your trade-in as a down payment to help lower your monthly payments on your new loan.
• Large inventory. You can choose from new and pre-owned cars, trucks, SUVs and minivans on offer from hundreds of dealerships connected to CarsFast.
• No sign-up or log-in required. You don’t have to create an account to fill out the five-minute application.

What to watch out for

• Limited to dealership vehicles. You won’t be able to use your financing to purchase private-sale vehicles.
• Only some lenders showcased. CarsFast has a number of local lenders and dealerships it works with in each region, but you’ll only get quotes from a segment of lenders on the market. This could lead you to miss out on a great deal, so it’s worth requesting quotes from a few sources to make sure you’re getting the lowest rates.
• Potential for additional fees. While CarsFast 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, depending on which lender or dealership you opt for.
• 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 agreeing to steep interest rates to secure your financing.
• Credit check. As you move further into the loan process, the lender you’re interested in will require a credit check.

Summary of CarsFast.ca reviews

At the time of writing, there are no CarsFast reviews on Facebook, Trustpilot or Google. However, CarsFast’s parent company, Consumer Genius Inc., has a claimed Trustpilot profile and was named on The Globe and Mail’s list of Canada’s Top Growing Companies 2023.

Feature	Details
BBB accredited	No
BBB rating	N/A
BBB customer reviews	No CarsFast reviews available
Consumer Genius Trustpilot rating	2.7/5 based on 11 reviews

Reviews verified as of January 22, 2026.

What does Reddit say about CarsFast?

There are limited Reddit threads about CarsFast. The two we found only have negative things to say about the company. One Reddit user says CarsFast’s website has red flags, such as a lack of clear information about who runs it, an unprofessional online presence and slow customer service. Another Reddit user says CarsFast provides defective vehicles, promises repairs and then stops responding to customers.

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What types of car loans does CarsFast offer?

• New and pre-owned car loans. Get approved for a loan to buy a brand new or pre-owned car, truck, SUV or minivan from dealers across Canada.
• Bad credit car loans. CarsFast emphasizes that you can still apply for financing and get approved for a loan even if you don’t have credit, your credit isn’t in the best shape or you’ve filed a consumer proposal.
• Trade-ins. CarsFast is happy to work with trade-ins and asks if you have a vehicle you would like to trade in during the application process. Trading in your old vehicle can help lower your monthly payments on a new loan.

CarsFast doesn’t offer private auto loans.

What provinces are CarsFast Car Loans available in?

CarsFast can connect you with lenders from across Canada. It compares dealers and lenders from all across the country so you can get financing from just about anywhere. After you provide your address and postal code, it will zero in on local lenders and dealers so offers are more convenient for you.

Am I eligible for auto financing through CarsFast?

To apply for a CarsFast loan, you need to meet the following criteria:

• Be at least 18 years old (or 19 in some provinces)
• Be a citizen or resident of Canada
• Have a driver’s license
• Provide proof of income of at least $2,000/month
• Provide proof of residence

Don’t be dissuaded if you have bad credit or no credit at all. CarsFast makes it clear that it can connect you with lenders that provide loans for people with less-than-perfect credit. The emphasis is on having a steady income stream to cover your debt repayments.

How do I apply?

If you meet the eligibility criteria and you’re ready to apply for a car loan with CarsFast, head to its website and follow the instructions below. The application process shouldn’t take more than five minutes:

1. Head to the CarsFast page and choose your preferred vehicle (car, truck, van or SUV).
2. Enter your monthly budget for your auto loan.
3. Indicate if you have a trade-in vehicle. If you do, this may help to offset the amount you need to borrow.
4. Answer a series of questions about your financial situation, including your employment status, your gross monthly income, how long you’ve been earning this wage, your company’s name, your job title and how much you spend on monthly mortgage or rental payments.
5. Enter your personal details, including your name, date of birth, email address, home address and phone number. You may need proof of ID and other relevant documents, such as pay stubs or bank statements, as the loan application process progresses.
6. Choose the type of vehicle you want to purchase from hundreds of dealers across Canada.
7. Review and submit your application.
8. At this point, CarsFast will let you know that your pre-approval is ready. You will get a curated list of lenders willing to finance your loan, along with the rates they offer.
9. Sign up for the loan you’re interested in and negotiate your contract with your lender.
10. Pay for your vehicle and begin making payments on your loan.

What documents do I need to apply?

If you’re ready to proceed with a loan via CarsFast, here’s what you’ll need to provide to your lender:

• Government-issued ID. You’ll need to provide proof of your identity, such as your driver’s licence or passport.
• Proof of income. You’ll have to show how much money you make each month with documents like pay stubs and bank statements.
• Proof of residency. You’ll typically be required to show that you have a permanent address in Canada (for example, documents like utility bills or business correspondences) before you can get financing.
• Proof of insurance. To get a car loan from CarsFast, you’ll likely need to provide proof that you have car insurance.

CarsFast application preview

The application is user-friendly and takes less than five minutes to fill out. After submitting your application, you’ll find out which lenders you’re matched with. You’ll then receive a phone call from the lenders to discuss your loan quotes.

How much will a car loan with CarsFast cost me?

Loan amounts start at $500 and can reach as high as $75,000 with APRs between 3.9% and 29.9%. Loan terms start as low as 12 months and can be as long as 96 months.

Let’s say, for example, you qualify for a CarsFast car loan at 7.99% interest for five years (60 months) to finance a $30,000 car. In that case, your monthly payment would be $608.15 with a total of $6,488.90 going towards interest alone by the end of your loan.

I got a CarsFast car loan. Now what?

Your repayment options will be outlined in your contract with the lender who is providing financing for your car. You’ll pay back your loan in bi-weekly or monthly installments. Make sure you’re committing to a repayment plan you can stick to, and ensure you have sufficient funds to make these payments each month. If you have bad credit or no credit at all, this is a great opportunity to rebuild your credit and show your trustworthiness to lenders.

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. If these are important features for you, discuss these options with your lender before agreeing to your loan.