Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our content.

Carloans411 Car Loans review

With Carloans411 you can get easy and fast car loan approvals for just about every credit score.

Get connected with suitable lenders through CarLoans411. Finance your next car, van or truck with loans available in amounts from $500 to $50,000. Check eligibility for this loan through LoanConnect.
No reviews yet. Write a review

1.90% to 19.99%

Interest Rate

$50,000

Max. Loan Amount

300

Min. Credit Score

Details

Product NameCarloans411 Car Loans
Interest Rate1.90% to 19.99%
Loan TermUp to 72 months
Loan SecuritySecured
Serviced Provinces/TerritoriesAB, BC, MB, NB, NL, NS, ON, QC, SK
Turnaround Time1-2 days
Go to site
More Info
  • Think about Carloans411 if you want to get financing from a local car dealership or you’d prefer to pay your loan off early.
  • Pick something else if you’d like to purchase a vehicle from a private owner or you would rather compare quotes manually.

Carloans411 expert review

Carloans411 is an easy-to-use online platform that lets you get financing from a local dealership near you. All you need to do is fill in some basic personal information to get started. From there, Carloans411 will match you with a loan provider that will contact you to discuss your financing options.

Once you’ve been approved, you can use the money you borrow to purchase a vehicle from that dealership’s inventory. After you buy your vehicle, you’ll start to pay your loan back with automatic monthly withdrawals from your bank account.

First, do I qualify for a Carloans411 auto loan?

To be eligible for financing from Carloans411, you’ll be required to demonstrate that you meet the following criteria:

  • You must be the legal driving age in the province you reside in and have a valid driver’s licence for that province.
  • You must be a Canadian citizen or permanent resident.
  • You’ll need to be employed at the same job for at least 3 months, with a minimum of $1,600 per month in income.
  • You’ll have to have a valid bank account where Carloans411 can withdraw payments.
  • You’ll be required to consent to a credit check.

What provinces is Carloans411 available in?

Carloans411 is available in Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, Quebec and Saskatchewan. Its main offices are located in Toronto and Vancouver, but the company operates primarily online. This means you won’t be able to visit a physical branch to discuss your car loan needs.

What makes Carloans411 unique?

Carloans411 is unique because it matches you with a car dealership in your area. It also works behind the scenes to get you the best rates on the market for your loan. This means you’ll pay less interest on the money you borrow without having to negotiate with your lender.

This platform also sets itself apart because it works with dealerships across Canada to find you the best car for your needs. You can also choose to pay your loan off early if you want to make lump-sum payments to get rid of your debt as quickly as possible.

What types of car loans does Carloans411 offer?

Carloans411 offers a couple of different types of loans through its dealerships. The type of loan that makes the most sense for you will depend on your credit score and on whether you want the option to make early payments.

  • Simple interest loan. You’ll have the option to repay your loan early and only pay interest on the outstanding balance.
  • Pre-computed loan. Your loan will be pre-calculated and interest rates will be spread over a set period of time (with no option for early repayment).
  • Secured loan. You’ll have to secure your loan with the vehicle you purchase, which means it can be repossessed if you don’t make your payments.
  • Unsecured loan. Your loan and interest rates will be based on your credit score, and your score will go down if you don’t repay your loan on time.

    What are the benefits of a loan with Carloans411?

    • Fast approvals. You’ll get a call within minutes of filling out an application and you may even get same-day approval for financing.
    • Open-ended loans. You can pay your loan off in lump sums with no penalty for early repayment if you choose a simple interest loan.
    • Free service. You won’t have to pay any hidden fees or charges to apply for financing, and Carloans411 will get you the best rates from its lenders for free.
    • High approval rates. You’re likely to get approved even if you have bad credit or no credit history at all.
    • Long terms. You’ll be able to lock in a term lasting up to seven 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.

    What to watch out for

    • Additional fees. You may encounter additional fees and extra costs as you go through the Carloans411 lending process, depending on which lender you go with.
    • High rates for bad credit. You’ll likely pay high rates if you have bad credit, and you may need to secure your loan with the vehicle you purchase.
    • No online quotes. You’ll have to speak to a customer service representative from the dealership over the phone to figure out whether you qualify for financing.

    Car loan monthly calculator

    Calculate how much you could expect to pay each month with a Carloans411 loan
    Your loan
    Loan amount
    $
    Loan terms (in years)
    Interest rate
    $ %

    Fill out the form and click on “Calculate” to see your estimated monthly payment.

    or

    Compare car loans now

    Based on your loan terms...

    You can expect to pay back $ per month

    This breaks down to...

    $ in principal and $ in interest charged, with a total cost of $ Compare car loans now

    How do I apply for a Carloans411 auto loan?

    To apply for a loan with Carloans411, click the green “Go to site” button above to be securely redirected to begin your online application. Please note that you will be redirected to the LoanConnect website to complete the application to check if you qualify for an offer from CarLoans411. You’ll need to fill out some personal information in the online application. You’ll then get a call from a customer service agent to discuss your options. They will open a file for you and find the best rates on offer for your unique personal and financial situation.

    Once you’re pre-approved, they will pass your information on to a dealer in your area. You’ll then have access to that dealer’s inventory of vehicles. You’ll be able to use the financing you get from Carloans411 to purchase the vehicle of your choice from that inventory.

    Compare Carloans411 to other car loans

    Not sure if Carloans411 is right for you? Compare features of other car loan options to find the right fit for you. Once you’ve narrowed down your options, click the green button to get started.

    Name Product Min. Loan Amount Interest Rate Loan Term Min. Credit Score Requirements
    CarsFast Car Loans
    $500
    4.90% to 29.90%
    12-96 months
    300
    Min. income of $1,800 /month, 3+ months employed
    Browse thousands of vehicles from dealers across Canada and get matched with financing that meets your needs. Apply online to purchase a new or used vehicle and get the vehicle delivered to your door.
    Loans Canada Car Loans
    $500
    0% to 29.99%
    3-96 months
    300
    Min. income of $1,800 /month, 3+ months employed
    Get access to financing from multiple lenders across Canada through a single application with Loans Canada. Bad credit, CERB and EI borrowers are considered.
    Car Loans Canada
    $7,500
    3.99% to 29.95%
    12-84 months
    300
    Min. income of $2,000 /month, 3+ months employed
    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, consumer proposals and bankruptcies to help rebuild credit.
    Coast Capital Car Loan
    $10,000
    Varies
    18-84 months
    650
    Able to service debt payment of $300/month
    Finance or lease both new and used vehicles with competitive rates and flexible terms from one of Canada's largest credit unions. No credit union membership required for this product.
    Canadian Auto News
    $7,500
    3.99% to 29.95%
    12-84 months
    300
    Min. income of $2,000 /month, 3+ months employed
    Answer a few simple questions to get matched with affordable financing options. Auto loans are also available to those with bad credit, consumer proposals and bankruptcies to help rebuild credit.
    LoanConnect Car Loans
    $500
    9.90% to 46.96%
    3-120 months
    550
    No min. income requirement
    Get access to 25+ lenders through LoanConnect's brokerage. Receive pre-approval in as fast as 60 seconds and get your funds in as little as 24 hours.
    Canada Auto Finance
    $500
    4.90%-29.95%
    3-96 months
    300
    Min. income of $1,500 /month, 3+ months employed
    Canada Auto Finance is a broker that connects borrowers with partnered local lenders. Financing for a new or used car is available for borrowers with bad credit, no credit, CERB, EI or bankruptcy.
    Carloans411 Car Loans
    $500
    1.90% to 19.99%
    Up to 72 months
    300
    Min. income of $1,600 /month, 3+ months employed
    Get connected with suitable lenders through CarLoans411. Finance your next car, van or truck with loans available in amounts from $500 to $50,000. Check eligibility for this loan through LoanConnect.
    Fairstone Secured Personal Loan
    $5,000
    19.99% to 23.99%
    36-120 months
    560
    Established credit history and own your home
    Fairstone offers secured personal loans up to $50,000.
    loading

    Compare up to 4 providers

    I got the Carloans411 loan. Now what?

    You’ll start to repay your loan as soon as you use it to purchase your new vehicle. Your monthly payments will simply get withdrawn from your bank account on the same day each month. Your interest rates and the amount of time you’ll have to pay back your loan should be stipulated in your loan agreement.

    Depending on what type of loan you pick, you could also be eligible to pay your loan back early without penalty. This is a good option if you have extra income coming in and you want to reduce the amount you pay in interest.

    Frequently asked questions about Carloans411

    Go to site