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Who is SafeLend?

SafeLend is a Canadian lending platform that provides unique auto loan refinancing solutions to consumers. Ultimately, SafeLend’s goal is to help Canadians lower their car loan amounts by reducing their interest rates without the need to trade in their car. 

Headquartered in Oakville, Ontario, SafeLend believes consumers should be well-informed about all the options available to them when it comes to vehicle financing.

How Does SafeLend Help Canadian Consumers?

In many cases, consumers looking to buy a vehicle may not have all the information needed to make an informed decision when it comes to their auto loans. In turn, this can lead to a much higher price for a car loan than necessary.

SafeLend aims to help Canadians avoid this situation by trading in their high-interest car loan rather than trading in their vehicle. Instead, consumers are left with a new auto loan with more cost-effective terms and rates. 

Consumers can save an average of $35 to $75 per month on their monthly auto loan payments through SafeLend’s program. Over time, that can add up to thousands of dollars. 

The process to refinance auto loans through SafeLend is easy, safe, and can be done from the comfort of home. Clients are ultimately left with a more affordable auto loan and get to keep their car. 

What Products Does SafeLend Offer?

SafeLend offers vehicle refinancing and small personal loan programs to Canadian consumers looking for more affordable loan options.

Vehicle Refinancing

SafeLend Canada offers a vehicle refinance and auto loan optimization program designed to help Canadians secure more affordable financing terms. 

Vehicle refinancing involves taking out a new loan to pay off your existing car loan. Your vehicle collateralizes the new loan, which you pay off through installments until the end of the term, much like your old car loan. 

The idea behind vehicle refinancing is to secure a lower interest rate compared to the rate you’re currently paying. That way, you’ll owe considerably less over the life of the loan because you’ll be paying less interest. 

Once you’re approved, you’ll be issued a new loan contract for the outstanding balance of what you still owe. The lender will pay off the remaining balance on your existing car loan and will issue you a new loan and accompanying balance with new terms.

Small Personal Loans

A small personal loan works just like a conventional personal loan: your lender will loan you a lump sum of money, which you will then repay in full — plus interest — by a specific date via installment payments. With a small personal loan, the loan amount is much smaller compared to traditional personal loan programs. 

SafeLend offers small personal loans with fixed interest rates, no fees, and flexible terms made through ConsumerCapital Canada. The application is quick and easy and can be done from the comfort of your home. 

Loan amounts range from $1,500 to $12,500 and can be used for just about any purpose. You can expect to receive your funds in as little as one business day after loan approval and can choose from anywhere between 2 to 5-year terms to repay your loan. SafeLend’s small personal loan interest rate ranges from 19.99% to 32.99%.

Benefits Of Refinancing Your Vehicle With SafeLend

Refinancing your current car loan with SafeLend could be the solution you’ve been looking for. To help you make an informed decision, here are the main benefits that SafeLend had to offer. 

Keep Your Car

Without the option to refinance your loan, you’d have to sell or trade-in your car for another one in order to enter into a new financing arrangement. But with SafeLend’s vehicle refinancing and loan optimization program, you can swap your existing high-rate car loan for a new loan with better terms and a lower interest rate while keeping your car.

Multiple Options

SafeLend offers several options and works with a network of lenders to facilitate the auto loan refinance process by connecting you to a lender that can best accommodate your situation. That way, you can be confident that you’re getting the best loan product, rate, and terms based on your financial profile.

Reduce Negative Equity

Negative equity refers to the difference between the outstanding balance on your auto loan and the current market value of your car. If your car is worth less than what you still owe on your car loan, you have negative equity. SafeLend aims to help reduce or even eliminate your negative equity by helping you refinance your existing loan with a new one at a much lower rate.

Affordable Rates

SafeLend’s main goal is to help consumers refinance their car loan to a lower-rate loan. In turn, this will significantly reduce monthly car loan payments and the overall cost of the loan.


SafeLend’s application process is quick and easy. Within minutes, you can complete and submit your application and expect notification of approval within hours. The funds will then be deposited into your account within 24 to 48 hours after loan approval. 

Safe And Secure

Applying to refinance your car loan with SafeLend is safe, secure, and discreet, so you can rest easy knowing that your sensitive information is always kept confidential. 

High Approval Rate

Thanks to SafeLend’s large network of lenders, they’re able to find lenders who are willing to work with just about every borrower.

SafeLend Protection Plans 

SafeLend offers a range of protection plans to cover any unexpected financial changes that could leave you in a predicament. 

Loan Protection 

If you find yourself unable to work due to a critical illness, injury, or loss of wages, it may be next to impossible to continue paying your bills. With Loan Protection coverage from SafeLend, you’ll have peace of mind knowing your car loan payments will continue to be covered. You can still keep your vehicle, and your credit profile won’t be negatively affected.

SafeLend offers Mechanical and Credit Protection coverage products that can provide immediate protection the moment you sign up. There are also finance options available, so there’s no need to pay any upfront costs. The SafeLend team will work with you and your financial situation to help you choose the best coverage type and amount.

Identity Restoration

Identity theft can happen to anyone, and when it does, it can cause significant harm to the person affected. SafeLend aims to help consumers avoid becoming the victim of identity theft with its Identity Restoration program, which works around the clock to protect your identity so you don’t have to deal with the time-consuming, exhausting, and expensive process of restoring your identity after it’s been compromised.

Mechanical Breakdown Coverages

Cars can break down from time to time, and when they do, they can be expensive to fix. A Mechanical Breakdown coverage program from SafeLend can help cover the financial expenses of car repairs when they arise. 

SafeLend will help you choose the best type of coverage based on your budget, driving habits, and vehicle. Whether you drive a luxury car, an older vehicle, or anything in between, there’s a coverage option out there that’s perfect for you, and SafeLend will help you find it. 

Cost Of Applying With SafeLend

SafeLend charges a $299 processing fee for their services, which can either be paid upfront or rolled into the new auto loan. 

For small personal loans, there’s an origination fee of $75 and interest ranges from 19.99% to 32.99%. 

Requirements For A Car Refinancing Loan

You can pre-qualify for a car refinancing loan from SafeLend without a credit check. All you need to do is answer a few questions about yourself and your vehicle to find out what type of loan you may be able to get approved for. Some of the info you’ll need to provide includes the following:

  • Photo of your vehicle
  • Photo of the odometer
  • Photo of the VIN plate or sticker in the driver door
  • Copies of Ownership
  • Insurance slip
  • Driver’s license
  • Void cheque
  • Copy of your old contract
  • Copy of the current payout

All documentation can be uploaded online, and verbal communication over the telephone is required. 

Requirements For a Small Personal Loan

To qualify for a small personal loan from SafeLend, you’ll need to meet the following requirements:

  • Have a minimum credit score of 540
  • Earn at least $1,900/month
  • Be employed for at least 6 months

You can get a loan from anywhere between $1,500 to $12,500, with terms ranging from 24 to 60 months. 

At this time, small personal loans are not available to Quebec residents. 

SafeLend FAQs

Can I refinance my car while on ODSP?

Yes, anyone on ODSP or Disability can refinance with SafeLend.

How long does it take to apply for a loan with SafeLend?

You can complete your application in as little as 30 minutes, depending on whether or not you have all the required information handy.  

How much does it cost to apply for a loan with SafeLend?

There’s a $299 processing fee that can be paid upfront or incorporated into your new car loan. 

Is SafeLend a bank?

No, SafeLend is not a bank or lender. Instead, the firm is partnered with various lenders and connects these lenders with consumers to facilitate the loan process.

Are there any prepayment penalties?

You can pay any amount at any time towards your loan. Prepayment penalties will depend on your lender. 

If I refinance my car, will I have to pay taxes?

No, you won’t have to pay taxes again when you deal with SafeLend. 

Final Thoughts

If you are currently paying a car loan and are finding it difficult to keep up with your monthly payments, perhaps refinancing your loan can help. SafeLend can help facilitate the auto loan refinancing process so you wind up with a lower rate without having to sell your car, potentially saving you thousands over the long run. 

Services & Products

SafeLend Offered Services

Auto Loan Refinance

Loan Range
  • Up to $50,000
Interest Rate
  • 15.99% +
Terms (Months)
  • 12 -72
Funding Time
  • 24 hours
Funding Method
  • Online
  • CDP
Repayment Options
  • Monthly
  • Bi-weekly
  • Current auto loan of over 11.99%
Requirements & Documents
  • Current auto loan in good standing
  • Minimum monthly income
  • Previous auto loan contract
  • Identification
  • Vehicle proof pictures


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