Frequently Asked Auto Loan Questions
We provide this FAQ to answer some of the many auto loan and credit questions we receive. We only offer loans to residents of BC, but most of this information applies to all Canadians. Please contact us with any questions.
How do I apply for an auto loan?
Its very easy with our online form, you will have your application submitted in a few minutes.
Or call us at 1-236-887-0055
Your Loan Specialist is Standing By.
Why choose Canada's Auto Loan?
Quality work and honest interactions, we will always put your best interests first and foremost in securing you a great loan.
Canada’s Auto Loan was formed by seasoned and passionate auto loan experts with decades of experience in the industry.
How long is the process?
After you submit your application, we will usually contact you within 6 hours. But we guarantee to return all calls within 24hrs.
What information do you require?
Once we have received your application, we will require you to scan and email or fax in:
- Drivers Licence.
- Proof of Income (pay stubs and/or bank statements – at least the last 3 months.)
- Your Current Address.
Get Your Car
I'm Pre-Approved, now what?
Your approval papers will allow you to purchase your vehicle from one of the many dealerships across our great province.
Do I need a down payment?
You don’t need to have a down payment, but if you do have one it will help the process along and you will pay less interest in the end.
What about car insurance?
The lender will require you to have auto insurance before you drive off the lot. It’s also the law in BC. This will usually be done for you right at the dealership.
Loans and Credit
What is a loan?
A loan is when a bank or financial agency lends you money, in this case to purchase an vehicle.
I might have bad credit!
We are here to help you, no matter what. We have lenders who specialize in no credit loans or bad credit loans. We can also help you build your credit.
What interest rates do you offer?
Interest rates come directly from the lenders and are determined by many factors. This includes the amount financed, the term, and the exact approval that each person qualifies for. We do everything we can to get you the best rate possible while meeting your auto and financial needs.