About lender
Canada Auto Finance is an online provider of auto financing solutions for clients with any credit.
The company collaborates with a vast network of dealers to provide customers with the best auto financing solutions from the top Canadian providers. Canada Auto Finance’s partners carry a wide selection of new and pre-owned vehicles, so every buyer can find an option that meets their needs best.
It is important to understand that Canada Auto Finance is not a lender itself. It is a car loan matching service that connects you with financing deals from various auto loan providers across Canada.
Features
Canada Auto Finance helps Canadians secure financing for the purchase of a new or pre-owned vehicle – a car, a truck, SUV, or a minivan. The company doesn’t finance motorcycles and private purchases. It also doesn’t refinance current loans and doesn’t secure financing from dealers outside its partner network.
The application process with Canada Auto Finance is simple and secure, and only takes a couple of minutes. Once you complete an online application, a trusted local dealer will contact you to arrange an auto loan specific to your needs.
This car loan matching service is absolutely free to use – there are no loan application fees. The quotes received after applying for a loan through Canada Auto Finance are not obligatory to accept.
With Canada Auto Finance, borrowers with any credit situation – good credit, poor credit, no credit, or even bankruptcy – can get the desired car loan. Depending on your financial situation, you can qualify for $5,000 - $45,000 auto loans.
Once you select an auto finance solution that meets your specific needs best, you can expect same-day loan approval.
Canada Auto Finance’s services are available in Alberta, British Columbia, Ontario, Manitoba, Quebec, Saskatchewan, Newfoundland, Yukon, the Northwest Territories, Nova Scotia, Prince Edward Island, New Brunswick, and Nunavut.
Pros and cons
When it comes to automotive financing, Canada Auto Finance can be the best option to get a car loan in Canada. Here are the pros for borrowers:
Access to a wide range of new and pre-owned vehicles
Quick and easy online application.
Zero loan application fee.
No obligation to accept the received quote.
Zero down payment.
No SIN number is required.
No co-signer is needed.
Any credit score is eligible.
Same-day approval.
Getting up to $45,000 in financing.
Picking a car upon loan approval.
Availability across all Canadian provinces and territories.
An opportunity to rebuild a credit score upon successful loan repayment.
As for the cons, we can only highlight this:
The inability to see the rates and the amount you qualify for before applying.
Such advantages as a fast turnaround, a zero downpayment, and the acceptability of any credit score may outweigh the slight disadvantages.
Loan conditions
With the Canada Auto Finance car loan matching service, you can qualify for a loan of between $5,000 and $45,000. There is no need to make a down payment.
According to the website, Canada Auto Finance provides vehicle purchase financing online nationwide at the lowest possible auto loan rates. The company doesn’t specify the APRs though. Canada Auto Finance doesn’t provide financing itself, so the rates will vary from lender to lender. Such factors as your credit score, your age, and the mileage of the vehicle you choose will influence the interest rate. The amount you are looking to borrow and the loan term also matter.
Canada Auto Finance promises same-day approval. Once approved, you can pick the car of your choice and get behind the wheel.
Methods of loan funding
Car Auto Finance doesn’t specify loan funding methods on the website. It depends on the lender. Typically, funding is performed by direct deposit or EMT.