Car Loan FAQs

Canada Auto Experts connects Canadians with top dealerships and major lenders so you can get approved for fair, affordable auto financing, whatever your credit. You fill out one free online application, and an Auto Expert matches you with the best lender for your credit profile.

1. 1
   Fill out the free online application.
2. 2
   An Auto Expert contacts you to review your budget and options.
3. 3
   Get approved and drive away, in as little as 24 hours.

Yes. Canada Auto Experts works with all the major lenders and private lenders to find a solution for you regardless of your credit situation, and all credit types are approved. Bad credit, bankruptcy, consumer proposal and negative equity can all be considered.

Learn more on our bad credit car loans page.

Yes. If you are a first-time buyer, new to Canada or a student, you can still get no credit vehicle financing at competitive rates to meet your budget. We offer access to reputable lenders and dealers who provide car loans for people without credit.

See no credit car loans for details.

Yes. We have private lenders that can help you get an auto loan regardless of your credit situation, including bankruptcy, consumer proposal and negative equity. Apply online and an Auto Expert will walk you through the options available for your situation.

You can get approved and drive away in as little as 24 hours. The online application takes about two minutes to finish, and an Auto Expert will contact you shortly after you submit it. Exact timing depends on the lender and your situation.

Not necessarily. Canada Auto Experts offers $0 down approvals for all credit types, so you can apply without a down payment. If you do have money to put down or a vehicle to trade, you can tell us in the application and it will be factored into your options.

Yes. $0 down approvals are available for all credit types through Canada Auto Experts, including for RV and powersport loans. Start with the free online application to see what you qualify for.

Yes. The application asks whether you have a trade-in, and our lenders can consider negative equity (owing more than the vehicle is worth). If you'd like an offer for your vehicle, use our sell or trade form to get an offer within 24 hours.

To apply for a car loan with Canada Auto Experts, you only need basic personal, employment and income details. No documents are needed to submit the free online application, and it takes about two minutes. The application asks for:

• The type of vehicle and monthly budget you want
• Your estimated credit rating and employment status
• Monthly income, employer and job title, and time at your job
• Your address, time at your residence and whether you rent or own
• Your date of birth, name, phone number and email

Once you're matched with a lender, you'll typically be asked for documents to verify your details, such as a valid driver's licence, recent pay stubs or other proof of income, proof of address, banking information for your payments, and proof of insurance before you take delivery. Having these ready can speed up your approval.

Start your free application.

No. Filling out the Canada Auto Experts online application does not affect your credit score, because no credit check is done when you apply. A lender only checks your credit once you've reviewed your options with an Auto Expert and decide to move forward with financing.

That lender check is a hard inquiry, which can cause a small, temporary dip in your score. Over time, making your car loan payments on time can help your credit far more than a single inquiry affects it. See bad credit car loans if your credit needs work.

Yes. Your application is sent over an encrypted (HTTPS) connection, and your information is collected, used and shared only as described in our Privacy Statement, mainly to match you with lenders and dealerships that can help you get financing.

To protect yourself online:

• Make sure you're on canadauto.ca before entering your details
• Remember that our application and our Auto Experts' advice are always free; be cautious of anyone asking for an upfront fee to "guarantee" a car loan
• If you're unsure whether a call or message is really from us, call 1-855-550-5565

Read more about protecting yourself from auto financing scams.

An Auto Expert will contact you shortly to review your budget, explain your financing options and answer your questions, free of charge. You can also book a call back or reach us at 1-855-550-5565, Monday to Saturday, 9am to 7pm MST.

No. The online application is free, contactless and comes with no obligations. Our Auto Experts' advice is also free of charge.

Your rate depends mainly on your credit profile: applicants with stronger credit are typically offered more competitive rates than people with no credit or less than stellar credit. The loan term, down payment and the lender's policies also affect the rate you're offered.

Try our car loan calculator or read about car loan interest rates.

Yes. Refinancing replaces your current loan with a new one, ideally at a lower interest rate, which can lower your monthly payment. Once approved, the lender issues a new financing contract for the amount owing and pays out your current loan in full, and you keep your vehicle.

See refinance your car.

Making timely payments helps: if you make on-time payments for over a year, you can benefit from refinancing to a lower rate. Improving your credit score, making a larger down payment or choosing a shorter loan term can also help you qualify for a better rate.

You can finance new and used cars, trucks, SUVs and vans, as well as recreational and powersport vehicles. See new and used car loans or browse our car loan inventory.

Yes. Canada Auto Experts offers $0 down RV loans (motorhomes, travel trailers, fifth wheels and tent trailers) and powersport loans (boats, ATVs, snowmobiles, jet skis and motorcycles or dirt bikes) for all credit types.

See RV loans and powersport loans.

You can tell us exactly what you're looking for. In the application you choose the type of vehicle and your monthly budget, and an Auto Expert uses that to match you with vehicles and dealerships in our network across Canada that fit your approval.

If you already have a specific vehicle or dealership in mind, mention it to your Auto Expert. Whether it can be financed depends on the lender's approval, the vehicle itself (such as its age and mileage) and the dealership. You can also browse our car loan inventory or speak to an expert.

It can. Successfully repaying an auto loan with timely payments demonstrates responsible financial behaviour and can contribute positively to your credit history and score.

Paying every bill on time and keeping your credit card balances low are the two most effective ways to improve your credit before applying for a car loan. Checking your credit report for errors and avoiding new credit applications in the months before you apply also help.

• Pay on time, every time. Payment history is one of the biggest factors in your credit score.
• Keep balances low. A common guideline is to use less than 30% of each card's limit.
• Check your credit reports. Review your reports from both Equifax and TransUnion, and dispute any errors you find.
• Limit new applications. Each hard inquiry can lower your score slightly.
• Keep older accounts open. A longer credit history generally helps your score.

You don't need perfect credit to apply, since all credit types are approved. Read our tips for improving your credit score.

Canada Auto Experts helps drivers in all provinces across Canada. The application accepts addresses in every province and territory.

Canada Auto Experts is an online auto financing service that works with a network of dealerships and lenders across Canada, including major banks and subprime and private lenders. Instead of applying to lenders one by one, you fill out one free application and an Auto Expert matches you with the financing and vehicle options that fit your credit profile and budget.

Our Auto Experts' help is free of charge, and there's no obligation to proceed. Learn more about us or see how Canada Auto Experts works.

Call us at 1-855-550-5565, Monday to Saturday from 9am to 7pm MST (closed Sunday), or speak to an expert to book a call. You can also start your application online anytime.

Dealerships can receive Hot Transfers: pre-qualified, ready-to-buy customers connected live to your sales team. Learn more on our dealers page or order leads with the dealership request form.