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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.

Canada Auto Finance

Finanso.Multilogin™

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.

FAQ

What is Canada Auto Finance?

Canada Auto Finance is a car loan matching service connecting borrowers with financing solutions from dealer partners in the network.

Who owns Canada Auto Finance?

Canada Auto Finance car loan matching service belongs to MH Sub I, LLC dba Internet Brands. The founder of the project is Jeff Goodfield.

How do you qualify for Canada Auto Finance?

While the eligibility criteria may vary from lender to lender, Canada Auto Finance provides the general requirements borrowers should meet to ensure getting the best financing option:

  • Being a Canadian Resident of at least 18 years old

  • Borrowers with a credit score of less than 625 should have a $1,500 gross monthly income

  • Borrowers must not be in bankruptcy

  • There must be no repossessions in the last year unless included in a bankruptcy

  • Applying for a loan for a purchase of a vehicle from Canada Auto Finance’s  authorized licensed car dealer partners

How much can you borrow from Canada Auto Finance?

Car Auto Finance allows you to borrow between $5,000 and $45,000. The exact amount you qualify for will depend on your credit profile. When evaluating a borrower’s profile, finance managers at Car Auto Canada’s network take into account variations among numerous lender score cards.

Is Canada Auto Finance a legitimate company?

Canada Auto Finance is an auto loan matching service that belongs to MH Sub I, LLC dba Internet Brands. The company has established partner relationships with the leading special finance auto dealers across Canada. The automotive dealers they work with have a wide selection of new and pre-owned vehicles.

Finance managers at Car Auto Canada’s network have placed tens of thousands of loans for borrowers with special needs.

Canada Auto Finance is available across all Canadian provinces and territories.

Company documents

Terms
Supplemental Terms
Privacy Policy

Canada Auto Finance understands that good people experience credit challenges, every single day. We are ready to help with easy auto financing options for any credit situation, so that you can drive away in the vehicle of your choice, and not settle for anything less.

© Canada Auto Finance

Financial products

Canada Auto Finance
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-$45,000
Rate
i

Effective interest rate on the product

up to 29.95%
Term
i

Loan term for the financial product

up to 72 months

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Calculate loan payments in Canada Auto Finance

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

Loan amount
i

Enter the desired loan amount

CAD
CAD
5000 $
45000 $
Loan term
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Specify the loan term for the calculation

years
months
3
6

What to pay attention to when applying for a loan from Canada Auto Finance

  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 Canada Auto Finance 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 Canada Auto Finance’s reviews by August 2022
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