Car Loans - Compare Auto Financing Options

Looking to finance your dream car? With just a few simple clicks, you can find the best rates for your terms, budget and credit score. Take the first step towards owning your dream car today.
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Why Apply for Car Loans With Our Partners?

When you apply for a loan through our partner network, you benefit from being matched with the best debt consolidation loan solution and lender in order to best suit you and your needs. The algorithm takes into consideration your location and the information you provide such as your income, and credit score in order to find the best match for you. Once a lender has been recommended for you, a simple application is usually required. Sometimes, the lender will require proof of employment and identification, but not always. Once you have provided all of the necessary documentation, it will be determined whether or not you qualify. If approved, most lenders will transfer the funds directly into your bank account. In many cases, this may happen in a matter of hours. More benefits to a debt consolidation solution are:

  • Fast approvals
  • Applying is FREE and there is no obligation
  • Re-establish your credit
  • Many options for affordable auto financing
  • Apply once, get multiple options
  • Get back on the road quickly

Start the Process

Our Simple Process

When you apply for a car loan through our partner network, you’re triggering an electronic process to automatically connect yourself with lenders across Canada who specialize in car loans. As you continue through the no-obligation, completely free application process, you are further helping the technology understand which car loan lenders will be available to you based on your income, budget, area of residence, credit rating and even the type of car you desire. It’s that simple.

Is a Car Loan Right for Me?

Making the decision to take on a car loan is widely dependent on your existing financial situation. If you are struggling to make ends meet, it may not be the best option as there are other ways to commute. But, if you have decent credit and are able to secure a lower interest rate, it may make sense. Even if you are in a good credit situation and can’t afford a downpayment, it can still work. Always consider the interest rates as they rate you will be charged is based on your credit score.
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How Does It Work?

Insurdinary has partnered with the best car loan aggregators in Canada. What does that mean? Simply put, you don’t have to have to spend endless hours and days searching online, making phone calls and answering the same questions repeatedly to multiple companies to secure a car loan. Our partners do all of that work for you. Here are a few tips to get you started.
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Review Finances

To ensure that you meet the minimum requirements for obtaining a car loan, it is very important to assess your financial situation, needs, and check your credit score before submitting an application.

Gather Documents

In order to prevent the disappointment of being rejected for a car loan due to incomplete applications or missing documents, it is advisable to collect all necessary paperwork prior to submitting an application.
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Compare

Always compare quotes from multiple lenders. This way, you’re certain that you are receiving a favourable rate before applying with the first loan which is offered. A loan comparison website, such as ours, can be used to request quotes from various lenders with a single application.

Tips to Save Money
on Your Car Loan

Owning a car is a significant expense and oftentimes the second largest purchase a person will make in their lifetime, next to their home. Fortunately, there are ways to save money on your car loan without compromising the car you want or the loan terms you need. Here are some useful tips to help you save money on your car loan and keep your finances in check.
Here are some tips to help you save
on your car loan.

Improve Your Credit Score

The higher your credit score, the lower your interest rate will be, and the less money you will have to pay in interest charges over the entire life of the loan. Taking some time to improve your credit score before you take out a car loan can reduce your debt load significantly.

Shop Around for Multiple Quotes

If your credit is less than perfect, browse through multiple financing quotes in order to find the one that best suits your needs. Using a rate comparison website like this one can make a big difference in terms of the lender you wind up signing a contract with.

Consider a Short Term Loan

A longer term may mean lower monthly payments, but it also means more interest payments over the course of the loan. A shorter loan term will decrease the amount of interest owed and overall reduce the amount of funds spent on your car loan.
More Tips

Car Loans 101

When you’re in the market to take out a car loan, keep in mind these commonly used terms so that you can better understand how the process works.

Car Loan

Auto Refinancing

Rent-to-Own

In-House Financing

Lease Buyout

Was Your Car Loan Application Rejected?

In a perfect world, everyones car loan would come with an approval. Unfortunately, that is not always the case. If your application for a car loan was rejected, here are some possible reasons why.

Your Credit Wasn’t Up to Par

Although it’s entirely possible to get a car loan with bad credit, in some cases where your credit is very poor, a lender may reject you.

Incomplete Application or Mistake on Your Application

Having all of the correct documentation for your car loan application is critical. If you didn’t fill out some important fields, or failed to provide necessary documents, there’s a good chance you won’t be approved.

You’re Asking For Too High of a Loan

There’s nothing wrong with having big dreams and wanting to get into a luxury vehicle tomorrow. But, if you’re not financially strong enough to support that car, and the payments that go along with it, don’t ask for it. Stay within your means for a better chance of being approved for a car loan.

Your Debt-to-Income Ratio is High

While lenders will accept a certain threshold of debt-to-income ratio being a little high, they won’t accept all cases. When you are carrying far more debt than you can service, not many lenders will take the risk of issuing you another loan.

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Frequently Asked Questions (FAQ)

Here are some of the commonly asked questions on the topic of car loans.

Can I get a car loan with bad credit?

Can I Get 0% Financing?

Is there a benefit to a 72 month auto loan?

Is it possible to buy a car online?

Is a downpayment necessary when applying for a car loan?

How much should I borrow for a car loan?

What factors impact my car loan interest rate?

What is a pre-approved car loan?

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