Lender
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.

Car Loans Canada PayOff

Advertiser Disclosure

Repayment of loan

Paying off your loan involves making pre-authorized payments from your bank account throughout the repayment period. To make sure that repayment goes smoothly, check whether you have sufficient funds in your bank account by repayment dates.

Conditions of loan extension

Car Loans Canada doesn’t provide any information on loan extension conditions. Since this platform serves as an intermediary between you and a lender, you will need to clarify the extension terms with the lender offering you a loan.

You can also contact the Car Loans Canada support team for additional details on this matter: [email protected].

Early payoff

As stated on the Car Loans Canada website, they will connect you to the lenders offering open-ended loans. So, nothing prevents you from repaying your loan early, at no additional cost. You can either make lump sum payments or pay off your loan in full at any time.

Car Loans Canada repayment

FAQ

How do I make a payment on Car Loans Canada?

Before you apply for a loan from Car Loans Canada, be sure to open a bank account if you don't have one yet. You will need to make pre-authorized payments from your bank account to pay off your loan. 

Your loan agreement will specify payment dates. On the specified dates, debits will occur from your bank account. Thus, make sure you have sufficient funds in your bank account by these dates. Otherwise, a delay in payment may occur, resulting in additional penalties.

What happens if you don't pay back Car Loans Canada?

Car Loans Canada doesn’t directly provide car loans. Instead, it connects borrowers with their network of partner lenders and dealerships, offering various financing options. Therefore, as a borrower, you are responsible for repaying the loan to the lender that issued the loan to you.

Almost every lender has its own penalties for late loan payments. Also, they have their policy regarding the non-repayment of the loan. Some lenders contact non-payers to agree on the best option for repaying the debt. Others may refer your debt to a collection agency.

To avoid possible problems, clarify these issues with the lender in advance.

Can you pay Car Loans Canada early?

According to the Car Loans Canada website, most car loans across the country are open-ended. Therefore, you can pay your loan early and penalty-free. Then, make either lump-sum payments, or repay your loan in full at your convenience.

Can Car Loans Canada sue you?

Car Loans Canada is actually an intermediary between you and a lender. Their responsibility is to connect you with a financial institution that will offer you the right loan conditions. So, in case you fail to make payments, you will be liable to the lender who gave you the loan.

Each lender has its own policy regarding the non-payment of a loan by a borrower. Some lenders may transfer your debt to a third-party collection agency. It’s worth clarifying these issues directly with the lender giving you a loan.

Anyway, failure to repay your loan may seriously hurt your credit score. Most Canadian lenders report the loan payments to the credit bureaus — Equifax or TransUnion.

Financial products
Car Loans 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
$7,500 - $59,995
Rate
i

Effective interest rate on the product

up to 31.99%
Term
i

Loan term for the financial product

up to 96 months
Similar products
Rifco
Auto financing
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 31%
Term
i

Loan term for the financial product

up to 86 months
Eden Park
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
$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
i

Loan term for the financial product

up to 84 months
Coast Capital Savings
Auto finance
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
Loanz
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
$1,000-$15,000
Rate
i

Effective interest rate on the product

up to 46.9%
Term
i

Loan term for the financial product

up to 60 month
Calculate loan payments in Car Loans Canada

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

Car Loans Canada calculator
Interest rates are given in accordance with the rates of the Car Loans Canada of 19.06.2024
Loan amount
i

Enter the desired loan amount

CAD
CAD
USD
7500 C$
60000 C$
Loan term
i

Specify the loan term for the calculation

months
days
12
96
Province
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All Car Loans Canada’s reviews by june 2024
Leave feedback
Similar companies
Simple Credit
2001 boul. Robert-Bourassa, suite 1700, Montréal (Québec) H3A 2A6
+1 (514) 904-40-28
Micro Click Loans
-
+1 (800) 933-09-60
Loonie Financial
1329-B Arena Road, Lot 110, Kahnawake Mohawk Territory Via:Quebec, Canada J0L 1B0
+1 (833) 423-22-08
Magik Cash
4180 Boul Henri-Bourassa E, Montreal, QC, H1H1L3
Prêt en ligne
-