Car Loans - Compare Auto Financing Options

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
  
  

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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.

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.