Announcing The Winner of Our Financial Literacy Scholarship (Spring 2022)
We are awarding $750 to a student every semester. All you have to do is show us how financial literacy has made a difference in your life.
Canada Auto Finance is a hassle-free car financing and auto loan provider. Whether you want a car, truck, SUV, or minivan, Canda Auto Finance has an offer that will likely meet your needs. They understand that when you have bad credit or are struggling financially, it can be very hard to obtain a loan from traditional banks. So, they work hard to provide you with auto financing options that cater to each individual’s financial circumstances. Moreover, their application is designed to be fast, easy, and hassle-free.
CanadaAutoFinance.ca is partnered with a vast network of leading finance auto dealers from coast-to-coast. Each of their affiliated auto dealerships has a sizable inventory of vehicles and is ready to help you with whatever resources or expertise you need in order to find the best deals possible on car loans in your region.
All auto loans are processed and used for purchasing vehicles through their local participating dealers. The approval process is easy and only involves 3 basic steps:
Before you apply for any kind of auto financing, it’s best to weigh the pros and cons. For example, getting your car loan through Canada Auto Finance offers up these benefits:
While approval requirements may vary from lender to lender, one of the most positive things about Canada Auto Finance is that drivers with credit scores under 600 can qualify, if they meet the minimum income limit.
If you qualify for financing, you may be approved for a car loan of up to $45,000 in as little as 30 seconds. On the same day, you’ll also receive a call from a lender to arrange the pre-approval process through a local dealership.
Qualifying with Canada Auto Finance is easy compared to many other car financing brokerages. No co-signer, S.I.N., down payment, or extra fees are required to apply. Even drivers with no credit can get approved.
Not only does Canada Auto Finance serve clients in every province and territory, but they also have a huge network of dealers and lenders, which means there could be thousands of different vehicles to choose from.
When buying a car, it’s important to get an accurate idea of what it could cost you over time, especially once you add fuel, insurance and repairs to the mix. For instance, the cost of a Canada Auto Finance car loan can vary based on several factors, including:
Although the approval process can be relatively quick and easy, you must meet a number of requirements to qualify for a car loan with Canada Auto Finance, like:
Before they’ll approve you, most lenders want you to be steadily employed at the same job for at least 3 months (i.e. past any probation periods). Additionally, your income should be enough to cover your car loan payments.
If your credit score is below 625, you need a minimum monthly income of $1,500 too. However, if you don’t earn enough traditional income, some lenders will accept other types, like government benefits (disability, alimony, etc.).
Like most financing sources, Canada Auto Finance won’t approve you for any type of car loan unless you have a valid driver’s license and are past the age of majority in your province or territory (18 – 19+).
To apply, you must also be a Canadian resident and have a bank account with direct deposit. While other methods may be accepted, the simplest way to make payments is generally by automatic monthly debits.
With Canada Auto Finance, prior debt problems are acceptable but you need to be discharged from all bankruptcies and not have any car repossessions on your record within the last year to qualify.
Though none of these are required, you may have an easier time qualifying if you offer your lender a down payment, an asset to secure the loan or a strong cosigner (particularly if you have bad credit or a low income).
Another easy thing about Canada Auto Finance is their pre-qualification process, which can be done online in just a few minutes. The application is broken down into 3 parts:
Remember, you must be a Canadian resident over the age of majority to apply for a car loan with Canada Auto Finance. Personal and residential details you’ll have to fill in are:
A minimum monthly income of $1,500 is passable but having a full-time job and a larger income can help you qualify for a better car loan and interest rate. For that reason, you’ll need to enter these other details when you apply with Canada Auto Finance:
Once you’ve entered all the required information, the last steps are to read the general conditions of your application, check off any permissions and submit your loan request.
By completing this portion, you’re giving Canada Auto Finance consent to examine your personal and financial profiles, as well as share your information with participating dealers in their network. Here, you can also add a co-signer or co-buyer and choose to accept promotional communications.
Then Canada Auto Finance might be the perfect dealership network for you. No matter what type of vehicle you’re trying to get a loan for, they should be able to help you find a make and model that suits your lifestyle and budget.
Loan Range | Rate & Terms | Product Details | Eligibility | Requirements & Documents | |
---|---|---|---|---|---|
Auto Loans | $5000 - $45,000 |
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| Must be a Canadian Resident Must be 18+ years old Must have a monthly income of at least $1,500, if the applicant's credit score is less than 625 Applicants with bankruptcies must be discharged. Must have had no repossessions in the last year |
We are awarding $750 to a student every semester. All you have to do is show us how financial literacy has made a difference in your life.
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