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Loans Quebec 2020

Compare the best lenders in this region:
ProviderRating
North’n Loans -
MDG -
Loan or Credit -
Flexiti Financial -
FinanceIT -
Diamond Financial Services -
Climb 5 / 5
Fresh Start Finance 4 / 5
Payday King 2 / 5
Private Loan Shop 5 / 5
Money Provider 5 / 5
Lendful 3 / 5
Health Smart Financial Services -
Fina Capitale 5 / 5
DMO Credit 5 / 5
Capital Cash 2 / 5
Cash Depot 5 / 5
Credit 700 2 / 5
Credit2Go 3 / 5
Ledn 5 / 5
Fairstone 3 / 5
Lending Mate 4 / 5
Lamina 3 / 5
Loans SOS -
514 Loans 5 / 5
Loan Me Now 4 / 5
Urgent Loans 4 / 5
ProviderRating
Onesta -
Lift Capital -
Leaseline -
Lease Direct -
John Deere -
Hitachi Capital Canada -
4 / 5
Essex Lease Financial Corporation -
Equilease -
Alliance Financing Group LTD -
CLE Capital -
Canada Equipment Loan -
SharpShooter Funding 5 / 5
Meridian Credit Union 3 / 5
Laurentian Bank of Canada 5 / 5
HSBC Bank Canada 5 / 5
National Bank 5 / 5
Desjardins 5 / 5
Canadian Imperial Bank of Commerce (CIBC) 5 / 5
Scotiabank 3 / 5
Bank of Montreal (BMO) 3 / 5
Royal Bank of Canada (RBC) 5 / 5
Money in Motion 5 / 5
Lease Link 5 / 5
FundThrough 5 / 5
Econolease Financial Services Inc. 5 / 5
Easylease Corp 5 / 5
Capify 5 / 5
Canadian Equipment Finance 5 / 5
Capital Key 5 / 5
Cashbloom 5 / 5
BFS Captial 5 / 5
Baron Finance 5 / 5
B2B Bank 5 / 5
AOne Financial Solutions 5 / 5
Lendified -
IOU Financial 5 / 5
Lending Loop 5 / 5
Thinking Capital 5 / 5
ProviderRating
National Powersports Financing -
LMG Finance -
Loans2Go -
iA Auto Finance -
Gamache Group -
Daimler Truck Financial -
DealerPlan Financial -
Canada Auto Finance -
Credit River Capital Inc -
Capital Trust Financial -
Canadian Truck Loan -
Canada Car Loans -
Car Loans Canada 5 / 5
Car Creditex -
Auto Capital Canada 5 / 5
Carfinco 5 / 5
Canada Drives 5 / 5
Approve Canada 5 / 5
2nd Chance Automotive 5 / 5
Carloans411 5 / 5
AutoArriba 5 / 5
ProviderRating
BHM Financial 5 / 5
ProviderRating
Mortgage Architects -
Keystone Finance Solutions -
IntelliMortgage -
Invis -
Equitable Bank -
Dominion Lending Center -
First National -
CMLS Financials -
CHIP Reverse Mortgage -
CanWise -
Centum 5 / 5
Broker Financial Group Inc. 5 / 5
ProviderRating
BDO 5 / 5
MNP 5 / 5
Raymond Chabot 5 / 5
Full Circle Debt Solutions Inc 5 / 5
Consolidated Credit 5 / 5
4Pillars 5 / 5

Canada’s only predominantly French-speaking region, Quebec is the largest province in the country in terms of its landmass. With a multicultural and vibrant population of just over 8 million people, Quebec is the second largest province by population, next to Ontario. The majority of its citizens live in and around the Saint Lawrence River area, which runs between Montreal and Quebec City (the province’s capital). Quebec also contains some of the country’s best locations for skiing, snowboarding, and other winter sports. The province is the origin place of Oka Cheese, poutine, and spruce beer, which was an Iroquois invention that explorer Jacques Cartier used to cure his crew members of scurvy upon their arrival in 1536.

Looking for a short term loan in Quebec? Read this first

Loans Tips for Quebec

Finding a loan in Quebec that fits both your needs and wants can seem like an impossible task. Since everyone’s financial situation is unique, what works for one consumer may not work for you. However, we do have some tips that can help anyone apply for the loan they want.

  • Always shop around before you sign on the dotted line. Long gone are the days where you had to go to the bank in order to apply for a loan. With the development of new lending technologies, there are countless online lenders out there willing to work with any and all Quebec citizens.
  • Make sure you choose a reputable lender. It’s important that you always make sure to choose a reputable lender. While there are lots of great lenders out there, there are also a number of scammers looking to take advantage of those in need.
  • Never take on a loan you can’t afford to repay on time. While it may be easier than ever to get approved for a loan, it’s also easy to take on too much debt. If you’re not able to make your payments on time or a loan is too large of a financial burden, it’s in your best interest to wait until you’re making more money before you take on such a responsibility.

Keep these tips in mind when you’re in the market for a loan in Quebec and you should have no trouble getting the financing you need.

Look here when you’re trying to compare lenders in Canada.

How Will You Use Your Loan?

There are a ton of different loan options available for Canadians, such as:

  • Debt consolidation loans
  • Business loans
  • Personal loans
  • Emergency loans
  • Home renovation loans
  • Medical loans
  • Wedding loans
  • Student loans
  • Tax debt loans
  • Car loans
  • Bridge loans
  • Vacation loans
  • Repair loans

Need a bad credit loan in Quebec? Check this out

The True Cost of BorrowingTake a look at this infographic to learn all about the true cost of borrowing. 

Increasing Your Chances of Getting Approved For a Loan In Quebec

Once you’ve decided on the type of loan you want and you’ve found a great lender to work with, you’ll need to apply. This is often seen as the most difficult part of the operation, but it doesn’t need to be. Here are our top tips for a smooth application process and for increasing your chances of getting approved.

  • Make sure your credit score is where you want it to be. Depending on the loan product you’re interested in, it’s always a good idea to make sure your credit score is high enough to get approved. While many lenders will still approve you, even if your credit is poor, a high credit score will help you get a better interest rate. If your score isn’t as high as you’d like it to be, try waiting for a while and work on improving it before you actually apply.
  • Fully cooperate with your potential lender. While being extra nice to your lender won’t get you approved for the loan you need, providing them with all the information and documentation they request will guarantee that you’re doing everything you can on your end.
  • Only apply for what you need. It can be tempting to apply for a larger loan than you actually need. However, taking on too large of a financial responsibility could land you under a mountain of debt, if you’re unable to keep up with your regular payments, that is. Only apply for a loan amount that you absolutely need!

Here’s what happens when you can’t make your loan payments on time. 

Protecting Your Personal Information

Protecting your information goes hand-in-hand with any financial decision you might make, from applying for a loan to opening up a new bank account. Keeping your personal and financial information private should always be a priority for you.

One of the best ways to protect your information, aside of never providing anyone with your PINs (personal identification numbers), credit card numbers or bank account numbers, is to keep an eye on your credit report. Your credit report contains a history of all your credit accounts and transactions. If someone has stolen your identity and is opening up accounts or making transactions in your name, it will be obvious on your credit report. If you do spot any fraudulent activity on your report, contact both Canadian credit reporting agencies (Equifax and TransUnion) immediately.

Click here to know more about identity theft and how it could affect you. 

Dealing With Fraud

Dealing with any form of fraud (credit/debit, loan, identity theft, etc.) can be one of the most difficult experiences to go through. It can and will affect all aspects of your financial life, including getting approved for future loans. The following are some of the most important steps to take if you believe that you are the victim of fraud.

  1. If you think your bank account or credit cards have been compromised, contact both organizations right away to have them cancel your cards and/or change your PINs.
  2. Contact your local police station and file a report.
  3. Contact Equifax and TransUnion, and request a copy of your credit report from both agencies. Consider having a fraud alert put on your file.
  4. Try to figure out what organizations provided the scammer with credit or money in your name.

When it comes to dealing with fraud, it’s very important that you contact the appropriate authorities. If you currently reside in the province of Quebec and are dealing with any type of consumer fraud, please contact the Office De La Protection Du Consommateur.

Office De La Protection Du Consommateur

400 Jean-Lesage Boulevard, Suite 450

Ville de Québec, Québec G1K 8W4

Telephone: 418-643-1484

Toll-Free: 1-888-672-2556

Fax: 418-528-0976

Website: www.opc.gouv.qc.ca

Finding The Best Loans in Quebec

If you live in Quebec and are in the market for a loan to purchase a house, consolidate debt, or even cover the cost of an unexpected expense, Loans Canada can help. We work with a wide variety of lenders and can match you with the one that fits your needs.

FAQs

Can you get a loan with bad credit?

  • Yes, Canadians with bad credit can still qualify for a loan. Unsecured bad credit loans may be paired with higher interest rates, but consumers can still opt for a secured loan such as a car title loan to gain access to lower rates.

Will applying for a loan hurt my credit score?

  • If the lender performs a hard pull of your credit, yes your credit score will go down a few points. But it will recover over time. The most important thing is to make sure you don’t have too many hard pulls within a short period of time.

Can I pay off my loan early?

  • Yes, some lenders will allow you to settle your account early. Just keep in mind that you may be charged a prepayment penalty, which is typically a percentage of your remaining loan balance. Before you sign a loan contract make sure you understand the terms of your loan.

What is the difference between a secured and an unsecured loan?

  • A secured loan is backed by some form of collateral, typically an asset like a vehicle or piece of property. If a borrower defaults on a secured loan, the asset could be seized. An unsecured loan does not require collateral. The heightened risk of an unsecured loan may result in a higher interest rate, although this is usually a function of the applicant’s credit history.

How to tell if a lender is legitimate?

  • Choosing a legitimate lender can seem like a daunting task, but there are a few key factors to watch out for. For example, a legitimate lender will never ask for any form of upfront payment and should have many independent reviews you can look at online.

Can I transfer my loan to someone else?

  • Certain loans, for example, a car loan, can be transferred to someone else. But, a personal loan cannot be transferred.

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Posted by
Bryan completed the Cinema, Video, and Communications program in Dawson College and holds a Bachelor’s Degree in English Literature & Creative Writing from Concordia University. Bryan covers a wide range of topics for Loans Canada, including credit improvement, debt management, and all things related to personal finance. In his spare time, he maintains a passion for editing, writing film and television screenplays, staying fit, and traveling the world in search of the coolest sights our plan...

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Loans Canada and its partners will never ask you for an upfront deposit, upfront fees or upfront insurance payments on a loan. To protect yourself, read more on this topic by visiting our page on loan scams.