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Lender
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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.

Auto Credit Deals

Finanso.Multilogin™

About lender

Auto Credit Deals is a lending company that provides loans for buying vehicles. The company was founded in 2010 and has more than 1 million completed applications. The company offers loans for purchasing a car and calculates the APR according to the credit score. The possible amounts t=o borrow range from $5,000 to $75,000, and the loan duration varies between 12 and 96 months.

The APR depends on the credit history and the credit score. The credit data calculates the interest rate and may vary between 29,99% and 46,96%.

The application form can be found directly on the website and filled out within 3 minutes. Also, there is a classification of the vehicles the customer can buy. Auto Credit Deals categorizes it into 4 groups: cars, SUVs, trucks, and vans. Each group has a vast selection of vehicles, so the customer may find the required car directly on the company’s website.

Features

The most significant feature of this company is that they specialize in a very narrow area. They only provide loans for vehicle purchasing. Firstly, the customer must apply for the loan and be approved, and after, they can choose the required car.

Also, the list and the classification of the vehicles to be bought are located directly on the company’s website, so the client doesn’t need to leave it and search for the information on other websites.

Auto Credit Deals has unfixed APR and depends on several factors such as bankruptcy, credit history, and credit score. As a result, the interest rate varies between 29,99% and 46,96%.

Besides, a potential customer can find a very useful loan calculator directly on the website. With its help, a client can realize how much money they will need for the desired vehicle, which APR he/she will have, and which loan period will be the most suitable. Also, the client can choose the repayment period: weekly, bimonthly or monthly.

In addition, Auto Credit Deals works around the whole of Canada.

Pros and cons

The cooperation with this company has some pros and cons.

Pros

  • The company operates across the whole country;

  • The entire process of approval is 100% online;

  • The application is very simple and 100% free so the client is under no obligation to purchase a vehicle if they decide not to;

  • The website contains enough information and a loan calculator, which simplifies the process for the customer;

  • The range of possible borrowed amounts is considerable: $5,000 - $75,000;

  • The company provides its services even to customers who have a bankruptcy or have bad credit;

  • On-time car payments will raise the credit score;

  • Auto Credit Deals can connect the client to certified vehicle dealers as they have an extensive network of dealer partners;

  • The pre-approval is quick and usually on the same day.

Cons

  • The APR is relatively high;

  • If the customer has bad credit, it would be difficult for them to obtain the lowest interest rate;

  • The desired vehicle may not fit into Auto Credit Deals loan limits;

As we see, the company has several advantages. First, this is an excellent option for people who need a vehicle loan, and the approval and purchasing processes are usually smooth. Also, the lender’s website is well crafted and contains a valuable loan calculator. In addition, Auto Credit Deals has a vast network of dealer partners that can connect the customers to the dealerships.

However, there are also some disadvantages. The lender’s specialization is too narrow and will not be helpful for people without the intention to buy a vehicle. Also, the company’s APR is relatively high, and if the client has bad credit, it would be challenging to enjoy the lowest interest rate.

Loan conditions

The loan conditions of Auto Credit Deals are not very strict. However, to be approved the customer needs to be older than 18 years old (19 for some provinces), be a permanent resident of Canada, hold a valid Canadian driver’s license, and earn a monthly minimum of $1,800 (income assistance may be factored in, including ODSP) and show proof of the address and active bank account what may be proven by the most recent paychecks and bank statements.

The first step is filling out the application form on the website, which takes about 4 minutes, and then the customer typically receives approval. After that, the client can choose the desired vehicle.

Methods of loan funding

Typically, the borrowed amount is transferred to a customer’s bank account. For more details, contact the company’s customer care.

FAQ

What is Auto Credit Deals?

Auto Credit Deals is one of the Canadian companies providing vehicle loans. It was founded in 2010 and has served hundreds of customers. Their office is located in Vancouver, but they operate all across Canada. They only provide loans for vehicle purchases, so it would benefit people who need a loan to buy a car. The loan period varies between 12 and 96 months and APR range is 29,99% - 46,96%.

Who owns Auto Credit Deals?

Canada Drives Ltd owns Auto Credit Deals.

How do you qualify for Auto Credit Deals?

The customer must be 18 years old (19 for some provinces) or older, be a resident of Canada, and provide some required documents as proof of address, valid Canadian driving license, and some papers from the bank which may prove the income.

How much can you borrow from Auto Credit Deals?

The amount Auto Credit Deals can provide for the loan varies between $5,000 and $75,000.

Is it a legitimate company?

Auto Credit Deals is a legitimate company owned by Canada Drives Ltd. Also, its profile can be found in the OrgBook BC database. The business number is 724377528.

Company documents

Terms of use
General Terms of Service
Privacy Policy

At Auto Credit Deals, we put people at the center of everything we do. Our focus is on security, efficiency and most importantly, you. We want to get you driving.

© Auto Credit Deals

Financial products

Auto Credit Deals
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-$75,000
Rate
i

Effective interest rate on the product

up to 46.96%
Term
i

Loan term for the financial product

up to 96 months

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Calculate loan payments in Auto Credit Deals

Auto Credit Deals calculator will allow you to calculate an approximate payment schedule for the loan

Loan amount
i

Enter the desired loan amount

CAD
CAD
5000 $
75000 $
Loan term
i

Specify the loan term for the calculation

months
days
12
96

What to pay attention to when applying for a loan from Auto Credit Deals

  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 Auto Credit Deals 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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All Auto Credit Deals’s reviews by August 2022
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