Splash Auto Finance car loan review

Borrow up to $50,000 to buy a car with over 500 dealers across Canada and qualify even with bad credit.

Splash Auto Finance is a non-prime lender that offers car loans to people across Canada with no credit or bad credit. It offers competitive interest rates and loan amounts compared to other bad credit car loan providers. Keep in mind, though, you’ll be limited to financing offered by Splash Auto Finance’s dealership network.

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9.90% - 31.00%

Interest Rate


Max. Loan Amount


Min. Credit Score

Splash Auto Finance at a glance

  • Low starting interest rate
  • Relatively large loan amounts available
  • 500+ partner dealerships
  • Strict eligibility criteria
  • Financing tied to specific dealers
  • Not available in Quebec

What is Splash Auto Finance?

Splash Auto Finance is a division of Rifco National Auto Finance, one of Canada’s largest non-chartered banks for non-prime auto financing. Splash Auto was founded in 2002 and is based out of Red Deer, Alberta. It offers bad credit car loans across Canada (except in Quebec) and works with over 500 partner dealerships. The company has provided over $1 billion in financing since its inception and is best for customers with no credit or bad credit.

Is Splash Auto Finance legitimate?

Splash Auto Finance is a legitimate business based on numerous online company reviews. It has a permanent office address in Red Deer and a large network of over 500 partner dealerships. Splash Auto Finance also has Facebook and Instagram accounts, though both accounts have been fairly inactive for several years.

Splash Auto Finance loan features

APR ranges9.90% - 31.00%
Interest rate typeFixed
Minimum loan amount$5,000
Maximum loan amount$50,000
Loan term24 - 84 months
Fees$649 application fee
Serviced provincesAll provinces and territories (except Quebec)
Basic eligibility criteriaMin. income of $2,200 /month, 3+ months employed, min. 300 credit score

What we like about Splash Auto Finance

Take advantage of the following benefits with Splash Auto Finance:

  • Potential for reasonable rates. Rates start at 9.9% (though you may pay up to 31% if you’re struggling with bad credit).
  • Bad credit can apply. Splash Auto Finance caters to borrowers with no credit or bad credit.
  • Large amounts. Borrow $5,000 or more to finance your next vehicle.
  • Instant payment. Your loan will typically be disbursed to the dealership to pay for your car within 24 hours of approval.
  • Large dealership network. Shop with over 500 dealers across Canada to find the right car for your needs (not available in Quebec).

What to watch out for

Keep the following drawbacks in mind before you apply for a Splash Auto Finance loan:

  • Minimum borrowing amounts. You won’t be able to borrow less than $5,000.
  • Strict eligibility criteria. You must have a gross monthly income of at least $2,200 and show proof of full-time employment for at least 6 months.
  • Financing tied to specific dealers. Financing is tied to partner dealers and there’s no list of who you can shop with (or what inventory of cars they might have).
  • Long repayment periods. Terms range from 2 to 7 years. The longer the term, the more interest you’ll pay over time.
  • Website is confusing. The website caters to partner dealerships and it’s difficult to find out where borrowers can apply for a loan.
  • Bad collection practices. Several customer reviews indicate that Splash Auto and its parent company Rifco call multiple times per day to collect late payments.
  • Not available in Quebec. Splash Auto Finance is available across Canada except for Quebec.

Summary of Splash Auto Finance reviews

BBB accreditedNo
BBB ratingA+
Facebook reviews4.6 stars (out of 9 reviews)
Customer reviews verified as ofAugust 11, 2022

Some Splash Auto Finance reviews indicate that the company offered quick payment and reasonable rates on car loans that customers couldn’t qualify for elsewhere. Others indicate that Splash Auto charges hidden fees and engages in harmful collection practices such as harassing phone calls, along with its parent company Rifco. They also indicate that it can be difficult to contact the company to discuss the loan once it’s paid out.

Am I eligible for a Splash Auto Finance loan?

You may be eligible for a Splash Auto Finance loan if you meet the following criteria:

  • Canadian citizen or permanent resident with valid ID
  • Age of majority in your province or territory
  • Minimum monthly income of $2,200 before taxes
  • Employed full time for at least 6 months with your current employer
  • Not living in Quebec

Required documents

You may need to provide the following documents to apply with Splash Auto Finance:

Proof of age/addressGovernment-issued photo ID such as passport or driver’s licence; secondary ID such as a credit card or utility bill
Proof of income/employmentBank records, recent pay stubs, letter from your employer
Deposit informationBank account information to set up automatic withdrawals
Consent for credit checkConsent for Splash Auto Finance to access your credit report

How to apply for Splash Auto Finance car loan

Follow these steps to apply for a Splash Auto Finance car loan:

  1. Click the “Go to site” button on this page to be scurely transferred to Splash Auto Finance‘s wbesite
  2. Enter your personal information. Required info includes your name, province, email, phone number, gross monthly income and employment period.
  3. Upload documents to provide proof of ID and income if you want or skip this step if you’d prefer to speak to an agent first.
  4. Click “submit” and wait for Splash Auto Finance to contact you in 1-3 business days.

How can I contact Splash Auto Finance?

You can contact Splash Auto Finance by calling its customer service hotline or by sending an email. Splash Auto Finance hotline hours are Monday to Friday 8:00am to 7:00pm (ET) and weekends from 8:00am to 5:00pm (ET).

How much will a Splash Auto Finance loan cost?

The cost of Splash Auto Finance loans will vary based on your personal situation:

  • Credit score. You’ll pay lower rates starting at 9.9% with decent credit and higher rates up to 31% with bad credit (typically a score below 650).
  • Fees. There are no set-up fees to take out a Splash Auto loan, but some customers complain that they were charged hidden fees after getting the loan.

Example of Splash Auto Finance loan cost

Brenda wants to take out a car loan to pay for a used 2015 Kia Forte. The car costs $6,800, and because she lives in Nova Scotia, she has to pay $7,820 in total including 15% sales tax. She borrows this amount from Splash Auto Finance, and qualifies for an interest rate of 19.8% over 5 years. Let’s take a look at how much her loan will cost her over time:

Initial loan amount$7,820
Interest rate19.8%
Time to pay off amount borrowed60 months
Monthly payments$206.31
Total paid$12,378.77
Total interest on amount borrowed$4,558.77

Splash Auto Finance payment example

Brenda will pay over $4,500 in interest to borrow $7,820 over 5 years, with monthly payments of $206.31 for the duration of her loan.

Splash Auto Finance monthly payment calculator

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Bottom line

Splash Auto Finance offers bad credit car loans to qualified borrowers. Use your loan to buy a car with over 500 partnership dealers. Be aware that you’ll need to make a minimum gross monthly income of $2,200 and at least 3 months of continuous employment to qualify. Splash Auto Finance is not available in Quebec.

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Frequently asked questions about Splash Auto Finance car loans

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