Car Loans Victoria

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		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1732233600		$50 – $1,500	$14 per $100 borrowed	Up to 62 days	$50 – $1,500
9	1718582400		$100 – $1500	Max of $8 per $100 & 24% interest up to 62 days	Next payday (max 62 days)	$100 – $1500
100	1709683200		Up to $1,250	Up to 32%	90 – 150 days	Up to $1,250
23	1700524800		Up to $25,000	24.99% – 29.99%	30 or 60	Up to $25,000
21	1700524800		$100 – $1,000	29% – 35%	9 – 24	$100 – $1,000
15	1695254400		$500 – $5,000	Up to 32%	3 – 4	$500 – $5,000
3	1692748800		Up to $350	0%	Up to 65 days	Up to $350
8	1688083200		$150 – $1,600	10 – 35%	3 – 6	$150 – $1,600
100	1686182400		$300 – $3,000	18% + fees	6	$300 – $3,000
100	1686182400		$300 – $3,000	18% + fees	6	$300 – $3,000
100	1686182400		$300 – $3,000	18% + fees	6	$300 – $3,000
6	1683676800		$15,000	6.7%	Up to 60	$15,000
1	1670889600		$1,000 – $15,000	19.9% – 34.9%	–	$1,000 – $15,000
7	1666051200		$250	0%	–	$250
100	1643932800		$500 – $15,000	Starting at 18.9%	6 – 60	$500 – $15,000
100	1642723200		Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1623369600		Varies	0%	6 or 8 weeks	Varies
2	1620777600		Up to $35,000	9.99% – 35%	6 – 60	Up to $35,000
17	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1598918400		Up to $15,000	–	–	Up to $15,000
100	1598832000		$500 – $15,000	Start at 10.99%	9 – 60	$500 – $15,000
100	1582243200		–	–	Up to 60	–
100	1580860800		$1,500 – $10,000	–	12 – 60	$1,500 – $10,000
16	1580774400		$1,000 – $25,000	8.99% – 34.99%	36 or 60	$1,000 – $25,000
100	1579478400		$100 – $1,500	–	–	$100 – $1,500
100	1579219200		Up to $1,500	$14 per $100 borrowed	Up to 30 days	Up to $1,500
18	1576713600		$500 – $100,000	Starting at 12.99%	Up to 60	$500 – $100,000
100	1562198400		$500 – $15,000	15.99 – 35%	6 – 60	$500 – $15,000
19	1552262400		$1,000 – $15,000	29.9% or 34.28%	6 – 60	$1,000 – $15,000
100	1551830400		$1,000 – $15,000	19% – 34.95%	12 – 60	$1,000 – $15,000
100	1551398400		Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1551398400		$100 – $1,500	$14 per $100 borrowed	14 – 31 days	$100 – $1,500
100	1551398400		Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
18	1546128000		Up to $5,000	19.9% – 35%	6 – 36	Up to $5,000
15	1551139200		Up to $15,000	34.99%	Open-end	Up to $15,000
100	1550534400		$100 – $1,500	$14 per $100 borrowed	14 days	$100 – $1,500
100	1569974400		Up to $1,500	$14 per $100 borrowed	Up to 62 days	Up to $1,500
100	1550534400		Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1550534400		$500 – $1,000	23%	3 – 6	$500 – $1,000
100	1550534400		$300 – $1,000	Up to 38%	3 – 4	$300 – $1,000
100	1549411200		$100 – $1,500	$14 per $100 borrowed	14 days	$100 – $1,500
100	1567555200		$300 – $3,000	18% + fees	6	$300 – $3,000
100	1549238400		$100 – $1,500	$14 per $100 borrowed	Up to 62 days	$100 – $1,500
100	1549238400		$250 – $1,500	23.99% – 29.99%	3 – 4	$250 – $1,500
20	1548720000		$500 – $1,000,000	7.9%	12	$500 – $1,000,000
100	1548720000		$500 – $50,000	Starting at 8.99%	3 – 120	$500 – $50,000
5	1545264000		$500 – $10,000	12.99% – 34.99%	9 – 60	$500 – $10,000
2	1543622400		Up to $60,000	19.99% – 34.99%	6 – 120	Up to $60,000
100	1545350400		$300 – $1500	Starting at 18%	3 – 7	$300 – $1500
100	1545350400		$300 – $3,000	22% – 32%	3 – 4	$300 – $3,000
100	1545350400		Up to $7,000	35%	6 – 60	Up to $7,000
5	1545350400		$500 – $1000	Up to 32%	3	$500 – $1000
100	1545350400		$500 – $750	23%	3 – 4	$500 – $750
100	1545350400		$500 – $750	22%	90 – 120 days	$500 – $750
100	1545350400		$300 – $3,000	27% – 35%	90 – 120 days	$300 – $3,000
4	1545264000		$500 – $100,000	29.99% – 35%	9 – 84	$500 – $100,000
3	1545264000		Up to $5,000	9.9% – 35%	–	Up to $5,000
4	1568937600		Up to $10,000	Varies by product	Varies by product	Up to $10,000
10	1545177600		Up to $35,000	Starting at 12.99%	Up to 60	Up to $35,000
18	1545177600		$100 – $20,000	Up to 35%	Up to 60	$100 – $20,000
100	1569974400		$200 – $1,500	$14 per $100 borrowed	Next payday	$200 – $1,500

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
3	1725321600		Up to $40,000	$0.75 per $1,000 per day	–	Up to $40,000
8	1714089600		$10,000 – $20,000,000	–	–	$10,000 – $20,000,000
7	1714089600		$10,000 – $2,000,000	10%+	Up to 36	$10,000 – $2,000,000
2	1669852800		$10,000 – $300,000	–	3 – 24	$10,000 – $300,000
100	1648512000		$1000 - $250,000	–	–	$1000 - $250,000
100	1620345600		–	–	12 – 60	–
100	1611878400		–	–	–	–
17	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1598918400		–	–	–	–
100	1592438400		–	–	–	–
100	1585612800		–	–	6 – 60	–
100	1580947200		$200,000 – $5,000,000	–	–	$200,000 – $5,000,000
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580860800		$5,000 – $1,000,000	–	–	$5,000 – $1,000,000
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580688000		Up to $10,000	Prime + 2.5%	Up to 60	Up to $10,000
100	1580256000		$5,000 – $800,000	–	6 – 24	$5,000 – $800,000
100	1579478400		$10,000 – $30,000,000	–	–	$10,000 – $30,000,000
100	1579478400		$50,000 – $5,000,000	–	3 – 36	$50,000 – $5,000,000
100	1579478400		–	–	24 – 60	–
100	1579478400		–	–	–	–
100	1579478400		Up to $1,200,000	–	12 – 84	Up to $1,200,000
100	1579046400		–	–	–	–
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1575849600		$5,000 – $150,000	Starting 15%	6 – 24	$5,000 – $150,000
100	1575849600		Up to $250,000	–	–	Up to $250,000
100	1575590400		–	–	–	–
100	1575590400		–	–	–	–
1	1545955200		$1,000 – $300,000	5.49% – 22.79%	12 – 60	$1,000 – $300,000
100	1552262400		$500,000 - $10,000,000	–	–	$500,000 - $10,000,000
100	1552262400		Up to $250,000	–	Up to 10 years	Up to $250,000
100	1552262400		Up to $1,000,000	–	–	Up to $1,000,000
100	1551830400		$10,000+	–	Up to 15 years	$10,000+
100	1551830400		Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1551830400		Up to $500,000	–	Up to 15 years	Up to $500,000
100	1551830400		Starting at $5,000	–	Up to 84	Starting at $5,000
100	1551398400		$3,500+	–	–	$3,500+
100	1551398400		$10,000 – $1,000,000	4% – 14%	12 – 84	$10,000 – $1,000,000
100	1551139200		Up to $250,000	–	Up to 48	Up to $250,000
100	1550534400		$500 – $50,000	2.75% – 8.25%	12 week cycles	$500 – $50,000
100	1550534400		$1,000 – $1,000,000	6% – 20%	–	$1,000 – $1,000,000
100	1550534400		Up to $5,000,000	–	24 – 72	Up to $5,000,000
100	1550534400		–	–	–	–
100	1550534400		$5,000 – $200,000	–	–	$5,000 – $200,000
100	1549411200		$50,000 – $12,000,000	–	24 – 96	$50,000 – $12,000,000
100	1548720000		Up to $100,000	–	–	Up to $100,000
100	1548720000		$10,000 – $300,000	–	–	$10,000 – $300,000
100	1545264000		Up to $250,000	–	3 – 24	Up to $250,000
6	1545350400		$15,000 – $1,500,000	–	6 – 36	$15,000 – $1,500,000
5	1545177600		$5,000 – $300,000	9% – 35%	Varies by product	$5,000 – $300,000
4	1545177600		$5,000 – $500,000	4.96% – 24.93%	1 – 60	$5,000 – $500,000
5	1545264000		$500 – $10,000	12.99% – 34.99%	9 – 60	$500 – $10,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
3	1632960000		Min. $10,000	6.93% – 19.99%	18 – 96	Min. $10,000
8	1624233600		$5,000 – $75,000	–	12 – 96	$5,000 – $75,000
17	1607558400		$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1582761600		–	–	36 – 96	–
6	1582761600		–	–	–	–
100	1581033600		–	–	–	–
100	1580688000		–	Starting at 12.9%	–	–
100	1579478400		–	–	–	–
100	1579478400		–	–	–	–
100	1579478400		–	–	–	–
100	1578873600		–	Starting at 10.99%	–	–
100	1578873600		–	–	–	–
100	1551830400		Starting at $5,000	–	–	Starting at $5,000
100	1552262400		Up to $1,000,000	–	up to 96	Up to $1,000,000
100	1551830400		–	–	6 – 96	–
100	1551830400		$10,000+	–	12 – 96	$10,000+
100	1551830400		Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1575849600		–	–	–	–
100	1575849600		$5,000 – $45,000	4.90 % – 29.95%	–	$5,000 – $45,000
100	1575849600		–	–	–	–
100	1575590400		–	–	–	–
6	1569974400		–	Up to 29.99%	12 – 96	–
100	1561507200		–	–	–	–
1	1560124800		Up to $100,000	3.99% - 19.9%	24 -96	Up to $100,000
100	1551830400		–	–	–	–
100	1548633600		–	Starting at 4.2%	–	–
5	1545264000		$500 – $10,000	12.99% – 34.99%	9 – 60	$500 – $10,000
100	1545177600		–	–	12 – 84	–

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1578873600		Up to $50,000	–	24 – 60	Up to $50,000
100	1545264000		Up to $50,000	–	–	Up to $50,000

		Provider	Loan Amount	Rate	Term (Months)	Rating
0	0		N/A	N/A	N/A	N/A
3	1726531200		$5,000 +	6% – 16%	12 – 60	$5,000 +
7	1708473600		–	–	–	–
5	1700524800		–	-	-	–
100	1695945600		–	–	–	–
4	1690934400		–	–	–	–
2	1688601600		Min $110,000	4.14% – 6.29%	24– 120	Min $110,000
3	1679616000		$100,000 – $2,000,000	Varies	12 – 60	$100,000 – $2,000,000
100	1627344000		–	4.50% – 5.97%	12 – 60	–
100	1575849600		–	4.09% – 7.64%	1 – 10 years	–
100	1604016000		–	–	–	–
100	1581033600		–	4.19% – 6.04%	12 – 120	–
100	1580860800		–	–	–	–
100	1580860800		–	2.99% – 5.49%	6 – 60	–
100	1580860800		$50,000+	–	12 – 120	$50,000+
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580860800		–	–	–	–
100	1580688000		–	–	6 – 60	–
100	1579478400		–	4.54% – 7.49%	6 – 120	–
100	1578873600		–	–	–	–
100	1577059200		–	Varies	–	–
100	1577059200		–	–	–	–
100	1577059200		–	–	–	–
100	1577059200		–	4.49% – 6.63%	1 – 10 years	–
100	1574985600		$10,000 – $1,000,000	4.99% – 7.29%	12 – 120	$10,000 – $1,000,000
100	1574899200		–	–	12 – 60	–
100	1574899200		–	4.24% – 6.30%	–	–
100	1560124800		–	4.64% – 5.80%	1 – 10 years	–
100	1548806400		$10,000 – $3,000,000	Varies	12 – 24	$10,000 – $3,000,000
100	1548720000		–	–	12 – 60	–
1	1517097600		$10,000 – $500,000	Starting at 10%	–	$10,000 – $500,000

		Provider	Services	Rating
0	0		Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Referrer)
100	1576540800		Credit Counselling, Bankruptcy, Consumer Proposal
100	1576540800		Credit Counselling, Debt Management Program
100	1576368000		Credit Counselling, Debt Management Program
100	1576454400		Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring

Victoria, like many other places in British Columbia, often sees mild and rainy winters, so having a reliable car at your disposal can be a major advantage. After all, taking public transit and taxis is not always convenient, especially when you live outside the city. Despite the ferry traffic, it’s pretty great to have the option of driving wherever you need to go. The only problem is that any car, new or used, can certainly drive up your cost of living in Victoria.

If that’s a problem for you, then applying for a car loan might be the best way to go. Keep reading if you’d like to know more.

Take a look at this infographic for even more information about your auto financing options.

Common Reasons Why Drivers in Victoria Need Car Loans

Basically, a car loan is a type of financing product that you can get through many different lenders and dealerships across Victoria and Canada, in general. Its overall purpose is to help drivers pay for cars (or other vehicles) that might otherwise be unaffordable. Since even a base model sedan can cost well over $15,000, the majority of buyers in Victoria need to pay their vehicle off in segments over several years.

Wondering how much car you can realistically afford? Click here for a better idea.

Rainy weather and high costs aren’t the only reasons why the average Victoria driver would be looking for a car loan. You yourself might need vehicle financing because:

• You were recently in an accident and your existing car is now beyond repair
• It would be too expensive to fix your old, unreliable car
• You’re looking for a minivan or other larger vehicle for your family
• You need a truck or other commercial vehicle for work purposes in Victoria
• Luxury models are needed for your professional transportation business
• You have reduced mobility due to physical impairment

Can’t decide whether to repair your old car or buy a new one? Look at this.

How a Vehicle Title Loan Can Help You in Victoria

When it comes to cars and other vehicles, there’s another type of financing product you can access in Victoria, known as a vehicle title loan. In this case, however, you would be using your car title to borrow, rather than borrowing to finance a car. In order to qualify, you’ll have to retain complete ownership over your current vehicle, meaning all payments have been made (if any) and it’s registered in your name.

Need a reliable car? Consider a lease-to-own program.

First, your lender will need to have your car inspected to determine what it’s worth on the car market in Victoria. If its value hasn’t depreciated too much since you bought it, you can then leverage it as security in exchange for a personal loan. Before you attempt this, however, it’s important to understand that since your vehicle will be used as collateral, your lender will own its title until you’ve totally repaid your loan. Proceed with caution, because if you default on too many of your upcoming loan payments, your vehicle may be repossessed and sold to cover the lender’s loss.

That said, getting a vehicle title loan can be very helpful when you:

• Have bad credit and it’s difficult for you to get financing otherwise
• Are trying to access a large loan with a reasonable interest rate
• Need to consolidate your high-interest consumer debt before it gets worse
• Are dealing with of financial emergency that requires a quick fix

Click here if you need a car loan following a repossession.

How to Get a Bad Credit Car Loan in Victoria

As we mentioned, having bad credit can be problematic when you’re looking for financing of any kind. For example, many prime lenders in Victoria, like banks and credit unions have strict guidelines that can prevent them from approving you when your credit score is below a certain threshold (600 or below typically qualifies as bad credit).

Don’t worry, there are many private and alternative lenders in Victoria that will approve your car loan under the appropriate circumstances. There are even bad credit lenders and many dealerships in Victoria that won’t give you much hassle. However, you may be subject to a higher interest rate than a driver with good credit would receive. In that case, it might be pertinent to improve your credit score prior to applying.

All this said, if you’re determined to find bad credit vehicle financing, you can potentially boost your approval chances and lower your interest rate by offering the lender additional security. You can do this by saving for a large down payment, using one of your other assets as collateral, or raising your income as much as possible.

Check out this infographic to learn all about what affects your credit score.

How a Trade-In is Done in Victoria

Since the mild weather in Victoria will help keep your used car in good condition, there’s one more financing option you can take advantage of it still has some residual value. This is known as a trade-in and it’s another great way to reduce the price of your next new or less-used vehicle. Following an on-site inspection, your dealer would offer you an amount for the vehicle you’re replacing and then that amount would be put toward the price of your new vehicle.

Set Your Expectations Realistically

Now, before you choose a trade-in, it’s best to set your expectations low and understand that no dealership will offer you top-dollar for your current vehicle, no matter how valuable it actually is. All cars depreciate over time, especially with a lot of mileage, and as businesses, dealerships need to make a profit. Generally, one of their in-house mechanics will inspect the car, give it fair market value, and the dealer will offer you a lower price quote based on it.

Want to know if you can trade in a vehicle that isn’t paid off? Find out here.

The Vehicles You Can Get With a Car Loan in Victoria

Another great thing about a car loan is that you can use it to finance almost any make or model that’s available to the general public in Victoria. However, like any type of credit product, you’ll need to go through a qualification process.

Check out this list of 20 ways to secure a loan.

The loan amount and interest rate you qualify for, as well as the type of vehicle you can get, will depend largely on your financial ability. Essentially, the stronger you are in terms of your income, credit health, and security, the larger of a car loan you can potentially receive and the broader your range of available vehicles will be. Although your options will be more limited if these elements aren’t strong, you should still be able to find a vehicle that suits your needs. Even better, making good car loan payments (on time and in full) will increase your credit score and put you in range of better options in the future.

Given the appropriate circumstances, a car loan can get you access to many different vehicle brands in Victoria, including but not limited to:

• Mazda
• Lincoln
• Dodge
• Toyota
• Honda
• Audi
• BMW

You can also gain access to many recreational vehicles, such as:

• Boats and other watercrafts
• Snowmobiles, ATVs, and dirtbikes
• Scooters and motorcycles
• Trailers and mobile homes

Trying to decide between a new or used vehicle? Click here.

Ready to Apply?

If so, there’s no better place to go than right here at Loans Canada. We can put you in touch with the best sources for auto loans in your neighbourhood of Victoria. Contact us today for more information or click the button below.