CarsFast Car Loan Review for March 2021 | Finder Canada
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CarsFast Car Loans

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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.

Whether you want to purchase a new vehicle or you’re looking to replace an older model that’s on its last legs, CarsFast can help you get the financing you need. This online app lets you choose from thousands of vehicles and hundreds of dealers across Canada.

4.90% to 29.90%

Interest Rate


Max. Loan Amount


Min. Credit Score


Product NameCarsFast Car Loans
Interest Rate4.90% to 29.90%
Loan Term12 months - 8 years
Loan SecurityUnsecured
Serviced Provinces/TerritoriesAll provinces
Turnaround TimeGet pre-approved in less than 60 seconds.
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More Info

Once you choose a vehicle from the online app, all you need to do is fill out a simple online application to get pre-approved for the loan you want. You’ll also be able to compare rates from multiple lenders to make sure you get the best deal.

How does a loan with CarsFast work?

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. Enjoy the convenience of car shopping from home without any obligation to move forward on the options you’re given.

One of the best features of CarsFast is that it gives you easy access to financing, even if you have bad credit. You’ll also be able to pre-qualify for loans from multiple lenders so you can see what rates are on offer from providers that are already willing to finance you.

After you choose a vehicle and a lender, you just need to sign your financing agreement and bill of sale before you pick up the keys from your dealer.

How much will a car loan with CarsFast cost me?

Loan amounts start at $500, and APRs sit between 4.90% to 29.90%

Interest rates on your auto loan will vary based on how much you want to borrow and for how long. They will also fluctuate in line with your unique financial situation. As a rule of thumb, you’ll typically pay less interest on your loan if you have good credit and a steady income. You’ll also save money on interest if you make a down payment on your vehicle or pay your loan off early.

What should I know before I apply?

Eligibility requirements

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

  • Be at least 18 years old (and 19 in some provinces).
  • Be a citizen or resident of Canada.
  • Have a steady form of income and consistent employment.
  • Must have gross income over $1,800/month

Required documents and information

  • Government-issued ID. You’ll need to prove your identity with a form of ID like your driver’s licence or passport.
  • Void cheque. You’ll need to give CarsFast access to your bank account to deposit your funds and deduct your payments.
  • Proof of income. You’ll have to show how much money you make each month with documents like pay stubs and bank statements.
  • Credit report. CarsFast will likely need to pull your credit score to assess your creditworthiness.
  • Proof of residency. You’ll typically be required to show that you have a permanent address in Canada before you can get financing.

How to apply for a loan with CarsFast

If you meet the eligibility criteria and you’re ready to apply for a car loan with CarsFast, you’ll just need to take a couple of steps to get started.

  1. Click the “go to site” button above to be securely redirected to the application.
  2. Answer a few questions including the type of vehicle you’re looking for, your monthly income range, your employment status, and more.
  3. Enter your name, email address, personal details, proof of ID and relevant documents.
  4. Choose the type of vehicle you want to purchase from hundreds of dealers across Canada.
  5. Review and submit your application.
  6. Get a curated list of lenders willing to finance your loan, along with the rates they offer.
  7. Sign up for the loan you’re interested in and negotiate your contract with your lender.
  8. Pay for your vehicle and begin making payments on your loan.
Get pre-approved in less than 60 seconds.

Pros and cons

Bottom line

CarsFast is an online comparison platform that gives you access to various financing options for your next car loan. You can use its services to compare rates for multiple lenders and see what vehicles are on sale from hundreds of dealers. Find out more about CarsFast’s services and start your application today to see if you qualify.

Frequently asked questions

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