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

Splash Auto Finance car loan review

Splash Auto Finance works with non-traditional borrowers, such as people with bad credit, no credit and bankruptcy.

Splash Auto Finance accepts applicants who have been employed full time for at least 3 months with a minimum monthly income of $2,200 before taxes. Other eligibility requirements apply.

9.90% - 29.90%

Interest Rate


Max. Loan Amount


Min. Credit Score


Product NameSplash Auto Finance
Interest Rate9.90% - 29.90%
Loan Term24 - 84 months
Loan SecurityUnsecured
Serviced Provinces/TerritoriesAll provinces and territories excluding Quebec
Turnaround Time10 minutes if approved
Go to site
More Info

30-second take

Splash Auto Finance is a flexible car financing lender that works with a variety of borrowers. If you have great credit and are in an optimal financial position, you may want to consider a bank or other traditional lender instead because Splash Auto Finance specializes in working with borrowers who have less-than-ideal credit histories.

  • Splash Auto Finance can work with individuals who have good credit, bad credit, no credit and those going through bankruptcy.
  • Not available in Quebec.

What is Splash Auto Finance?

Splash Auto Finance is a subprime financing lender for car loans. It has operated in Canada since 2002 and has over 500 partner dealerships across the nation. If you have poor credit or are experiencing financial hardship, you can apply for a loan with Splash Auto Finance.

When a lender extends financing to individuals with poor credit history, low income or other non-traditional financial characteristics, it’s referred to as non-prime financing or subprime lending. According to its website, Splash Auto Finance lends over $100 million a year for non-prime auto financing.

Do I qualify?

In order to be approved with Splash Auto Finance, you must meet the following criteria:

  • Be a Canadian resident with a valid address
  • Be the age of majority in your province or territory
  • Have a minimum monthly income of $2,200 before taxes
  • Be employed full time for at least 6 months with your current employer
  • Don’t live in Quebec

What types of car loans does Splash Auto Finance offer?

Splash Auto Finance offers various types of car loans, including the following:

  • Bad or no credit loans. If you have no credit history or bad credit, Splash Auto Finance can still provide car financing to you, provided that you meet other requirements. This also applies if you’re going through a bankruptcy, divorce or financial hardship.
  • Used car loans. Splash Auto Finance works with a lot of dealerships, including used car dealers.
  • New car loans. If you prefer a new car over a used car, Splash Auto Finance can assist with your purchase.

How much will my loan cost me?

With Splash Auto Finance, your interest rate will fall somewhere between 9.9% and 29.9%. Your term will be somewhere between 2 and 7 years.

The conditions of your loan will depend on your personal circumstances, such as your credit score, monthly income, how much you want to borrow and the vehicle you want to purchase. Before you apply for financing with Splash Auto Finance, be sure to assess your budget and how much you can afford on car payments.

What are the benefits of a car loan with Splash Auto Finance?

  • Flexible lender. Splash Auto Finance works with non-traditional borrowers, such as people with bad credit, no credit and bankruptcy.
  • Loyalty program. The Fast Forward 500 Club is Splash Auto Finance‘s loyalty program. It rewards its best customers and dealers.
  • Fast approval. Your loan could be approved and dispersed within 24 hours. Depending on the loan and applicant, it could take several days to be approved and receive funds.

What to watch out for

  • High interest. The maximum amount of interest Splash Auto Finance could charge is 29.9%.
  • Long terms. Splash Auto Finance offers terms of up to 7 years. Even though your payment will be lower, you’ll pay more interest and risk getting negative equity on your car.
  • Not available in all of Canada. You cannot use Splash Auto Finance‘s services if you live in Quebec.

How do I apply?

To apply, visit the Rifco website. During the application process, you will be asked to provide the following information:

  • Full name
  • Contact information (email, phone, address, etc.)
  • Monthly income before taxes
  • Amount of time you’ve worked for your current employer
  • Driver’s licence
  • Proof of income
  • Details of an active bank account to deposit funds

What do I do after I get the car loan?

Once you get approved for your car loan with Splash Auto Finance, it’s time to start driving and making payments. Your scheduled payments should be outlined in your agreement. They will likely be monthly or bi-weekly payments. To build and maintain credit, be sure to always make payments on time and in full.

Down the road, you might want to make an early repayment on your loan. It’s unclear if Splash Auto Finance allows early repayment without penalties. If this is something you’re interested in, check your loan agreement for potential early payment fees. In general, it’s ideal if you can always get loan conditions with no penalties for early repayment.

Compare other car loans

Name Product Loan Amount Interest Rate Loan Term Min. Credit Score Requirements Table description
CarsFast Car Loans
$500 - $75,000
4.90% - 29.90%
12 - 96 months
Min. income of $2,000 /month, 3+ months employed
Get a new or used vehicle delivered to your door.
Browse thousands of vehicles from dealers across Canada and get matched with financing that meets your needs.
Loans Canada Car Loans
$500 - $35,000
0% - 29.99%
3 - 96 months
Min. income of $1,800 /month, 3+ months employed
Compare rates from multiple lenders.
Complete a single application to get quotes from different lenders. Bad credit, CERB and EI borrowers considered.
$7,500 - $85,000
3.99% - 29.99%
12 - 96 months
Min. income of $1,800 /month, 1+ months employed
Available in Ontario only.
Apply online and get your new vehicle delivered to your door anywhere in Ontario free of charge. All credit scores considered.
Coast Capital Car Loan
$10,000 - No Max.
18 - 84 months
Able to service debt payment of $300/month
Competitive rates and flexible terms.
Finance new and used vehicles from one of Canada's largest credit unions. No credit union membership required. Available across Canada except SK, QC, NT, NU, YT.
Splash Auto Finance
$10,000 - $50,000
9.90% - 29.90%
24 - 84 months
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.
goPeer Car Loan
$1,000 - $25,000
8.00% - 31.00%
36 - 60 months
Min. income of $40,000 /year
P2P platform with competitive rates.
Canada's first regulated consumer peer-to-peer lending platform that connects creditworthy Canadians looking for a loan with Canadians looking to invest.
Carloans411 Car Loans
$500 - $50,000
1.90% - 19.99%
Up to 72 months
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.
Canada Auto Finance
$500 - $45,000
4.90% - 29.95%
3 - 96 months
Min. income of $1,500 /month, 3+ months employed
Get financing from partnered local lenders.
Financing for a new or used car is available for borrowers with bad credit, no credit, CERB, EI or bankruptcy.
LoanConnect Car Loans
$500 - $50,000
9.90% - 46.96%
3 - 120 months
No min. income requirement
Pre-approval in as little as 60 seconds.
Get access to 25+ lenders through this brokerage. Get your funds in as little as 24 hours.

Compare up to 4 providers

Frequently asked questions

Go to site