In this guide

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  • Frequently asked questions
  • Your reviews
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Iceberg Finance review

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Iceberg Finance Car Loan
APR Range
12.99% - 29.99%
Loan Amount
Loan Term
12 - 84 months
Min. Credit Score
All information about Iceberg Finance Car Loan has been collected independently by Finder. Finder is not connected with Iceberg Finance products, and this page is not sponsored, endorsed or administered by, or associated with, Iceberg Finance. All product names, logos, and brands have been used for identification purposes only and are property of their respective owners.

Our verdict

Access auto financing for bad credit and many different types of income, but watch out for high interest rates.

Iceberg Finance specializes in car loans for borrowers with less-than-perfect credit. This alternative financing provider offers loans of up to $35,000 with terms of up to 84 months, and it aims to help customers who can't qualify for financing from traditional lenders. However, high rates apply for bad credit, so it's worth comparing your options before deciding on the right loan for you.


  • Bad credit accepted
  • Reports payments to credit bureau Equifax
  • Wide range of income accepted


  • Watch out for high interest rates for bad credit
  • Not available in all provinces and territories
  • Not BBB accredited

In this guide

  • Our verdict
  • Frequently asked questions
  • Your reviews

What is Iceberg Finance?

Iceberg Finance is a fintech company that offers alternative financing options. Its car loans are offered through auto dealerships, and this lender specializes in loans for people who don’t have the good to excellent credit score needed to qualify for loans from traditional lenders.

Iceberg Finance may be able to help you find financing even if your financial history hasn’t been the best – for example, if your credit score has taken a hit in the past due to missed payments, your vehicle has been repossessed or you’ve gone through a consumer proposal or bankruptcy.

Is Iceberg Finance legitimate?

Iceberg Finance is based in Quebec, where it has been registered as a business since 2011.

It is active on social media and has received more than 50 Google reviews.

Iceberg Finance car loan features

Interest rate12.99% - 29.99%
Loan amountUp to $35,000
Loan term12 - 84 months

What we like about Iceberg Finance

  • Non-prime financing. Iceberg Finance specializes in non-prime financing solutions, so your poor credit history doesn’t have to stop you from getting a loan.
  • Rebuild your credit. If you take out a car loan or personal loan with Iceberg Finance, your on-time payments will be reported to credit bureau Equifax each month. This can help you rebuild your credit score, which will help you qualify for a better interest rate if you need to apply for credit in the future.
  • Wide range of income accepted. Iceberg Finance accepts employment and self-employment income as well as worker’s compensation, parental benefits, child benefits, Old Age Security income and more.
  • No down payment required. If you don’t want to put down a deposit, Iceberg Finance offers access to no down payment auto financing for eligible borrowers.
  • Not just auto loans. If you’re searching for a personal loan, loans of up to $7,500 are available.

What to watch out for

  • High interest rates. If you’re considering an Iceberg Finance car loan, interest rates range from 12.99% to 29.99% depending on your credit score and financial situation. Learn more about car loan rates in Canada.
  • Not available everywhere. Iceberg Finance loans are not available in all provinces and territories, so check if they provide loans where you live before you apply.

Alternatives to Iceberg Finance

1 - 5 of 5
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.
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.

Iceberg Finance reviews

Iceberg Finance has received more than 50 Google reviews. Those who left positive reviews reported easy, hassle-free financing, fast approvals and helpful customer service. People who left negative reviews sometimes mentioned poor customer service.

Better Business Bureau accreditedNo
Better Business Bureau ratingN/A
Google reviews3.9 out of 5 stars, based on 56 Iceberg Finance reviews

Reviews verified as of 13 June 2023.

Eligibility requirements of an Iceberg Finance car loan

To apply for a loan you will need to:

  • Be 18 years old or the age of majority in your province or territory
  • Have been employed for at least three months (or at least six months if self-employed)
  • Have a Canadian bank account

How to apply

You can apply for an Iceberg Finance loan directly through car dealerships when you go to purchase a vehicle. You will need to provide:

  • Your name, address and contact details
  • Proof of ID, such as a driver’s licence or passport
  • Bank statements to prove your income

Other products or services by Iceberg Finance

Iceberg Finance offers a couple of other types of financing in addition to car loans:

  • IF Express loans (personal loans). These are personal loans of $1,000 to $7,500. Loan terms range from 24 to 60 months, with interest rates of 12.99% to 29.99% available depending on your credit risk. Learn more about the best personal loans.
  • Insurance and extended warranty financing. You can use this type of loan to finance insurance products such as life or critical illness insurance, or extended warranties. Terms ranging from 18 to 72 months are available.

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