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Lender
Rating by Finanso®
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The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

AutoCapital Canada

Finanso.Multilogin™

About lender

AutoCapital Canada is a national financial company with offices in downtown Toronto and Mississauga. The company is a wholly-owned subsidiary of CanCap Group Inc, which started in 2009 and now works with dealer partners across Canada to help clients finance the purchase of new and used vehicles. The company uses a unique approach to its customers to provide them with an opportunity to get funded even if they have encountered difficulties when trying to get a loan from other lenders or have a challenging credit history.

AutoCapital Canada’s primary goal is to provide auto financing options to the underserved. Its flexible lending programs are designed to serve customers whose specific auto loan needs are unmet by many traditional financial institutions. In addition, the company is focused on providing exceptional service by understanding and adapting to the changing needs of its dealer partners and clients.

Features

AutoCapital Canada’s current core business is indirect and third-party originations and servicing of automotive loans. However, the company states that it is always motivated by doing the “right thing” when it comes to the customers and partners.

Whether the customers are looking for a new family vehicle or something a little less practical, AutoCapital Canada has a solution for them, offering a simple path to flexible financing. The company offers different programs for dealers and customers.

The company is offering the following rates for clients, corresponding to its scale of tiers: Tier 1 – 10,99%, Tier 2 – 11,49%, Tier 3 – 13,25%, Tier 4 – 15,25%, Tier 5 – 18,75%, Tier 6 – 23,25%.

These are the top loan programs:

  • The loan program for customers with challenged credit history

Every person needs a little support from time to time to get back on his feet. AutoCapital Canada has designed a program for clients who cannot qualify for an auto loan on their own. This program allows clients to leverage the assistance of a co-signor family member without the need for a long-term commitment. In addition, after 18 months of repayment, AutoCapital Canada is willing to fully release the co-signer from his obligation, which allows the client to regain his financial independence.

  • The loan program for entrepreneurs

This program is designed with the flexibility to support the needs of self-employed clients. The income verification process considers that some self-employed borrowers may not fit into the conventional income verification process. Therefore, the company allows the option of submitting income documents that fall into three categories: Full Doc, Alternative Doc, and Lite Doc.

Protecting the customers’ personal information is crucial for AutoCapital Canada. That is why the following security means are being used in the company:

The company keeps electronic customer files in a highly-secured environment with restricted access. Paper-based files are stored in locked filing cabinets to which access is also restricted. When the client calls the customer service center, he will be required to verify his identity.

The company uses Secure Socket Layer (“SSL”) and 128-bit encryption technologies to enhance security for the secured areas of its website. SSL protects and maintains the security of messages transmitted over the Internet. In addition, SSL scrambles the data into an unreadable format, preventing unauthorized access by others.

Pros and cons

Pros

  • Access to funding for individuals with poor credit history.
  • Access to funding for entrepreneurs.
  • Lower rates for returning customers.
  • Differential income verification process.
  • Diversified rate range – from 10,99% up to 23,25%.

Cons

  • Even affording the clients with poor credit history to get funded, the company still requires the assistance of a family member to co-sign the loan documents.
  • Confusing website – identical information is presented regarding the products for dealers and customers.

Loan conditions

There is no specific information regarding this point on the company's website. However, usually, all the candidates for automotive loans should provide the lender with the following information:

  • Government-issued photo ID to verify personal identity, proving that the borrower is of legal age.
  • The proof of income.
  • Banking information (correct credit rating and information regarding his active bank account).

Methods of loan funding

There is no specific information regarding this point on the company's website. However, in case of approval, all the borrowers are getting funded within 24-48 hours.

The funding method is usually a direct deposit on the borrower's bank account.

FAQ

What is Auto Capital Canada?

Auto Capital Canada is a financial services company offering automotive loans to customers in challenging circumstances – either having a poor credit history or being an entrepreneur. Auto Capital Canada provides an easy, quick, and trusted way to get a loan. All the processing is being carried out online.

Who owns AutoCapital Canada?

The company is a wholly owned subsidiary of CanCap Group Inc.       

How do you qualify for AutoCapital Canada?

To qualify for a personal loan with AutoCapital Canada, the applicant must meet the following requirements: 

  • Be a Canadian resident. 

  • Be 18 years or older.

  • Have a monthly income of at least $3,000 (or $4,000 for joint applicants).

How much can you borrow from AutoCapital Canada?

The loan size depends on the car's market price the potential borrower is interested in. The amount the client qualifies for also depends on how well he meets the requirements.

Is it a legitimate company?

The company corresponds to all the requirements for such financial institutions, and it seems entirely legitimate.

How do I make a payment on AutoCapital Canada?

For making a payment to a lender, the borrower should visit the section on the website called “Make a Payment” and fill out the form with the following information:

  1. Loan number, first name, last name, e-mail, telephone, cardholder’s address, cardholder’s address 2 (optional), city, region, postal/zip code.

  2. One-time payment/schedule for recurring payment.

  3. Card number, expiry month, expiry year, security code (CVV), and name on the card. After this, the customer should push the "confirm " button.

How trustworthy is AutoCapital Canada?

The lender is entirely legitimate and trustworthy due to the following factors:

AutoCapital Canada is a national financial services company with offices in Toronto and Mississauga.

  • The company is a wholly-owned subsidiary of CanCap Group Inc.

  • The company works with dealer partners across Canada.

  • The company is offering various loans to financially challenged individuals and has a different scale of rates, depending on the tire the customer corresponds to.

  • The company is in partnership with CIBC, Versa Bank, Black Book, Route One, Dealertrack, Equifax, TransUnion, Trust Science, and Flinks.

How do I contact Auto Capital Canada?

Contacting the company via phone, e-mail, or its Facebook, Twitter, and LinkedIn accounts is possible.

Company documents

Privacy Policy
Terms of use

Our team is passionate about providing innovative solutions to many unique borrowing needs.

© AutoCapital Canada

Financial products

AutoCapital Canada
Car loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$5,000-$100,000
Rate
i

Effective interest rate on the product

up to 23.25%
Term
i

Loan term for the financial product

up to 60 months

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Calculate loan payments in AutoCapital Canada

AutoCapital Canada calculator will allow you to calculate an approximate payment schedule for the loan

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What to pay attention to when applying for a loan from AutoCapital Canada

  1. The company must have a license if it runs business in Alberta, British Columbia, Manitoba, Ontario and Quebec.
  2. You can check the availability of the relevant license (copy) at the branch of the lending company.
  3. Membership in a self-regulatory organization (SRO) is an additional guarantee of the reliability of the lending company. This information can also be checked at the company's branch or on its official website.
  4. Availability of lending policies.
  5. The procedure for applying for a loan.
  6. The procedure for concluding the loan agreement and receiving the payment schedule.
  7. Other conditions for granting loans.

We recommend

  1. To check out the interest rates and frequency. 
  2. Check the availability of individual terms in the loan agreement (principal amount, term, date of advance, etc.).
  3. Check whether the loan agreement contains information about the total cost of borrowing.
  4. Take time to think – you can change your mind before agreeing or signing a loan agreement.
  5. Speed of loan processing.
  6. Accessibility – alternative lenders often operate where there are no bank branches.
  7. For the borrower - high interest on the loan.
  8. For an investor, the safety of funds is not guaranteed by the state.

What distinguishes AutoCapital Canada from banks:

  1. Simplicity - loan processing is less formalized than in a bank.
  2. Fast loan processing.
  3. Accessibility.
  4. For the borrower - high interest on the loan.
  5. For an investor, the safety of funds is not guaranteed by the state.
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