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 Drives PayOff

Advertiser Disclosure

Repayment of loan

You can decide whether to repay the loan with one installment or with timely monthly payments. Either way, timely auto financing repaying will preserve your credit score. You also may decide to set up a pre-authorized payment where money will be transferred directly from your account to the lender's account on each agreed date of the month.

Loan extension

Canada Drives allows its customers to extend loans over a long time. For that, you need to call the Help Centre toll-free phone +1 (888) 877-2898 or send a request at the special form on the official website and discuss the possible arrangements. However, as much as this could give you a monthly rate that you are comfortable with, it will raise the interest.

Early repayment

It is quite possible if you would like to pay off the loan earlier than the estimated time. Canada Drives allows the borrowers to add some cash on the loan's regular monthly payment or settle the loan once and for all.

You may also consider refinancing the current vehicle via the company's website.

Debt collection methods

Canada Drives always issues a constant reminder to ensure that paying your loan does not escape your mind when the time comes. However, if it has been 150 days since your last payment and there is no communication, the lender will send your debt to a collection agency.

Canada Drives repayment

FAQ

How can I find out the remaining balance?

  1. Visit Canada Drives official website;

  2. Log into your account;

  3. Enter your car loan details;

  4. Check your loan status, which will include the remaining balance.

You can also contact Canada Drives Help Centre and ask about the remaining loan balance.

What to do if the payment has failed?

If the payment has failed, it could be a minor technical issue that could be solved within minutes. However, it could also be coming from the bank's end. If you have encountered this issue, make a phone call to 1-888-877-2898 and speak to one of Canada Drives agents.

What to do if I missed the payment?

The most important thing to do if you have missed a loan payment is to call Help Centre at 1-888-877-2898, and ensure to make an installment asap to avoid additional penalty charges that might affect the credit score.

Is it possible to arrange a loan restructuring?

When you are going through financial difficulties and you would like Canada Drives Ltd. to make the loan payment terms more manageable, consider entering into a consumer proposal with the company. This feature will give you an option of restructuring the existing debt. You can find more details on the official website of Canada Drives.

Financial products
Canada Drives
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 19.9%
Term
i

Loan term for the financial product

up to 96 months
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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.

Recommended FinScore™
0
300
650
1000
$7,500 - $59,995
Rate
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Effective interest rate on the product

up to 31.99%
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Loan term for the financial product

up to 96 months
Rifco
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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.

Recommended FinScore™
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650
1000
$5,000-$100,000
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Effective interest rate on the product

up to 31%
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Loan term for the financial product

up to 86 months
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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.

Recommended FinScore™
0
300
650
1000
$1,000-$50,000
Rate
i

Effective interest rate on the product

up to 22.9%
Term
i

Loan term for the financial product

up to 84 months
iA 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-$50,000
Rate
i

Effective interest rate on the product

up to 29.99%
Term
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Loan term for the financial product

up to 84 months
Coast Capital Savings
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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
Rate
i

Effective interest rate on the product

from 4%
Term
i

Loan term for the financial product

from 84 months
Calculate loan payments in Canada Drives

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

Canada Drives calculator
Interest rates are given in accordance with the rates of the Canada Drives of 12.06.2024
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