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Pacific Car Loans review

Pacific Car Loans can help you get a car loan even with bad credit.

Pacific Car Loans is a private lender that offers vehicle financing for its inventory of over 2,000 vehicles. All you need to do is fill out some basic personal information to get started with the loan process.
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  • If you have a bad credit score and want a relatively surefire way to get approved for a vehicle, consider Pacific Car Loans.
  • You could potentially get more competitive interest rates elsewhere, and you may get contacted repeatedly by unsolicited calls.

Pacific Car Loans: An expert review

Pacific Car Loans provides vehicle financing for an inventory of over 2,000 cars. A customer service agent will contact you to discuss the terms of your loan after you’ve filled out some basic personal information.

Just be aware that while this company claims to approve 98% of applications, it doesn’t have the best reputation. There are several complaints online about unsolicited calls and shady business practices. You’ll also likely have to pay high interest rates on any loan you take out since the company tends to focus on providing loans to people with bad credit.

First, do I qualify for a loan with Pacific Car Loans?

To be eligible for financing from Pacific Car Loans, you’ll typically need to show that you’re over the age of majority in your province, and have a valid government-issued form of ID and a Social Insurance Number. You’ll also need to prove that you’re a Canadian citizen or resident with a steady form of income and regular employment.

What makes Pacific Car Loans unique?

Pacific Car Loans is unique because it offers loan options to customers with bad credit. It also has an inventory of over 2,000 vehicles that you can choose from. This means that you can get pre-approved for financing and drive away with a new or used vehicle, all using the same company.

Just be aware that Pacific Car Loans has several negative reviews online indicating that it makes unsolicited calls to customers, and overcharges on its loans. Before you apply, you should make sure to do your research and only give away personal information on an as-needed basis.

Compare car loan options from other lenders

Name Product Loan Amount Interest Rate Loan Term Min. Credit Score Requirements Table description
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$500 - $35,000
0% - 29.99%
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goPeer Car Loan
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8.00% - 31.00%
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AutoLoanProviders
$7,500 - $85,000
3.99% - 29.99%
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CarsFast Car Loans
$500 - $75,000
4.90% - 29.90%
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Coast Capital Car Loan
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Splash Auto Finance
$10,000 - $50,000
9.90% - 29.90%
24 - 84 months
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Min. income of $2,200 /month, 3+ months employed
Apply with any credit score.
Get financing for a new or used car. Auto loans for borrowers with fair credit, bad credit, no credit or bankruptcy.
LoanConnect Car Loans
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9.90% - 46.96%
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Canada Auto Finance
$500 - $45,000
4.90% - 29.95%
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Carloans411 Car Loans
$500 - $50,000
1.90% - 19.99%
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300
Min. income of $1,600 /month, 3+ months employed
High application approval rate.
Get connected with suitable lenders to finance your next car, van or truck. Check eligibility for this loan through LoanConnect.
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What types of car loans does Pacific Car Loans offer?

There’s a number of different types of loans you may be able to qualify for when you apply for financing with Pacific Car Loans.

  • New car loans. It’s possible to qualify for new car financing if you intend to purchase a new vehicle from the Pacific Car Loans inventory.
  • Used car loans. You can usually apply for used car financing if the vehicle you want to purchase has been traded in or previously owned.
  • Trade-in loans. You can trade your old vehicle in for a newer model, and pay the difference back with a loan.
  • Bad credit loans. You may be able to qualify for a loan with Pacific Car Loans even if you have bad credit, including bankruptcy or a consumer proposal.

How do bad credit loans work?

Bad credit loans are a tricky business because they often come with extremely high interest rates – and Pacific Car Loans is no exception to that. If you’re being offered a loan even in the midst of a bankruptcy or consumer proposal, chances are it will cost you dearly. This is why you should explore all other available alternatives before signing on to a bad credit loan with a private lender.

Your best bet to get the money you need for a new vehicle would be to save up or ask friends and family for money. You may also want to secure your loan with collateral or find a cosigner to bring down your interest rates. These strategies could help you avoid getting sucked into a cycle of debt that you can’t get out of.

Where can I buy my vehicle once I’m approved for Pacific Car Loans?

Once you’re pre-approved for financing, you’ll have the option to purchase the make and model of the vehicle you want through Pacific Car Loans. The company has an inventory of over 2,000 new and used vehicles to choose from. You may want to have your vehicle inspected by a licensed mechanic first to make sure it’s in good condition before you agree to finance it.

What are the benefits of a loan with Pacific Car Loans?

  • Approval for bad credit. If you’re desperate for a car loan, you may be able to get one with this company even if you have bad credit.
  • Decent inventory. You can choose from an inventory of over 2,000 new or used cars, with trade-ins always rotating in to refresh Pacific Car Loans‘ inventory.
  • 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

  • Negative reviews across many platforms. The company has negative reviews across platforms like Yelp, Google, Better Business Bureau and more.
  • High rates for bad credit. You could end up paying higher than normal rates for your loan if you have a bad credit score.
  • No online quotes. You’ll have to speak to a customer service representative over the phone to negotiate the terms for car loan.
  • Unsolicited phone calls. Many customers complain about getting unsolicited and unwanted phone calls from pushy salespeople.
  • Limited stock. You may not get the exact car you want if it’s not available in Pacific Car Loans‘ inventory.

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How do I apply with Pacific Car Loans?

If you want to apply for a loan with Pacific Car Loans, you’ll have to fill in an online application. You’ll then be contacted by a customer service agent to discuss your car loan needs. Just be aware that this company is known for making unsolicited phone calls and doesn’t have the best reviews online. You’ll also want to double check all of your loan information to make sure it’s accurate before you submit your application.

I got a loan from Pacific Car Loans. Now what?

Once you have your loan, you’ll have to choose your vehicle from Pacific Car Loans‘ inventory and pay for it. From there, the amount of money you need to pay back on your loan will be outlined in your loan contract. Your repayments will be automatically debited from your bank account when you sign onto your loan. You’ll just need to provide your bank account details and negotiate your repayment terms with Pacific Car Loans at the time of sale.

Frequently asked questions about Pacific Car Loans

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