Need the best car loan rates? You’re already en route. Compare the best auto financing rates for free.

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have compared rates and saved money over the last 24 hours

What our users say:

Excellent
Based on 331 reviews
July 15
Auto Insurance
I was looking for an insurance rate that would help me save money, I did a Googl...
Louise Beaton
July 7
Great and honest service !!!
Meaghan Ford was amazing with her service and very patient in explaining all the...
Zee Sajid
July 1
excellent service
excellent service
An Luu
June 22
Highly recommended
Excellent customer service. Was very patient and answer my customers toughly. Fo...
Karan Parmar
June 18
Chelsea was very helpful
Chelsea was very helpful, answered all my questions and set me up hassle free. S...
Chris
June 11
Very nice broker
Very nice broker. Good service. Found a great deal.
Meredith Berggren
June 9
Simple, fast, affordable!
Took a little longer than expected for the billing to go through, but otherwise...
Jonathan C
June 5
Awesome work
wow what an awesome rep. He did up everything, extremely fast and was very under...
Delroy Paul
June 4
It was a pleasure dealing with your…
It was a pleasure dealing with your broker, it made switching insurance companie...
Michael Sheridan
May 27
Excellent customer service
This is the first time I got insurances from Direct Rate.I have nothing but good...
Tejas Patel
May 26
Quick service
Quick service, good price
dl
May 22
Imad Harrouk was great !
Imad Harrouk was great ! intelligent well spoken professional polite a perso...
james bannon
May 21
Imad Harrouk helped me get the best…
Imad Harrouk helped me get the best home and auto bundle insurance quote. He was...
Amanda Moskowitz
May 20
Excellent !!! Very competitive rates !!
Excellent customer services also they have very competitive rates !!
Eliza Gallant
May 20
Excellent Service
Sonia was patient with all of my questions, helpful and cheerful through the ent...
Cori Thompson
May 18
I was treated fairly and walked through…
I was treated fairly and walked through my purchase.I enjoyed the agent was exce...
paul neville
May 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
May 11
Easy
Easy, clear and fast. Very effective.
Rene Izquierdo de la Cruz
May 6
Sonia was very helpful and nice…
Sonia was very helpful and nice throughout the whole process. She got me the bes...
Ali Al-Rubayee
May 6
Very friendly and professional
Very friendly and professional. She always try to help. Really appreciate.
Binod Shrestha
May 5
He was so amazing
He was so amazing. He went out his way to help me. He deserves a raise Very po...
Shahin Abbaskhan
April 27
Great rates!
Ryan was very helpful and polite.He went all out to find me the best rate. He wa...
Linda Shelton
April 22
The service was excellent
The service was excellent. Emad provided awesome service for me.
John Bowden
April 19
Fast and professional customer service
Fast and professional customer service. All of my questions were answered and I...
P COSTANTINI

How it works. Hint: It's free!

  1. Enter your information.
  2. Get matched with a dealership and get approved for a loan.
  3. Choose a vehicle from the dealership offering you a loan.

Get approved for a car loan and shop for a vehicle.

We’re proud of the car loan service we offer. Our site is one of the few places where Canadians without great credit can get the financing they need to buy a vehicle. We work with you even if you have bad credit or no credit, and our users enjoy fast approvals and reasonable interest rates on their loans.

The service is simple too: we connect car buyers like you with a fantastic coast-to-coast network of auto lenders and dealers. These businesses specialize in providing vehicle financing to Canadians with less than stellar credit, and they know how to get you behind the wheel — fast.

We can help you even if you have:

  • Bad credit.
  • No credit.
  • Good credit.
  • Late payments.
  • Repossession.
  • Collections.
  • A bankruptcy.
  • A divorce.
  • New Canadian status.

Car loans made easy.

We know most people need a car to get to work, take the kids to school, and buy groceries. Here’s how our car loan service works:

About our auto loan network.

  • It's nationwide, servicing all provinces.
  • It's a free, fully secure, no obligation loan service.
  • It provides car loans that range from $5,000 – $40,000.
  • It offers market competitive interest rates, speedy. approvals, and affordable payments.
  • It boasts a 100% acceptance rate, even when clients have no credit or bad credit.

Car loan myths

  1. You need an income of at least $30,000 to qualify for a car loan in Canada. False. This number is often tossed about by some car dealerships and banks, but Canadians can get approved for an auto loan with far lower annual incomes.
  2. Self-employed workers won't qualify for a car loan. False. As long as you can demonstrate an annual income, you can get approval for an auto loan through our service.
  3. Applicants without credit need a big down payment to be approved for a car loan. False. Many of our applicants get approved for car loans with no money down and no credit history at all.
  4. Applicants without a FICO score can't be approved for a car loan. False. No FICO, no worries. If you're new to the country or haven't had time to build your credit score, you can still be approved for a car loan.
  5. Low credit auto loans are only available in major provinces like Alberta and Ontario. False. Our auto loan network operates in every province, so no matter where you live, you can get a loan.
  6. Non-bank car loans come with sky-high interest rates and weird, hard-to-understand term structures. False. Reputable non-bank vehicle financing is widely available in Canada, with reasonable interest rates and a loan process that's clear for borrowers.

Car loan facts

  1. Canadians love to buy used cars. In fact, used cars currently outsell new cars in Canada 2 to 1.
  2. About 50% of all the vehicles on Canada's roads are 8 years or older.
  3. New car sales in Canada hit an all-time high in 2015, totalling 1,898,485 units, up 2.5% from 2014.
  4. According to J.D. Power and Associates, nearly 7 out of every 10 buyers who financed a new vehicle in the last 12 months took a loan of 72 months or longer.
  5. J.D. Power and Associates also reports that nearly 1 in 5 new cars in Canada is leased rather than purchased outright — that's up from just 1 in 20 a few years ago.
  6. Fiat-Chrysler was the number one selling vehicle manufacturer in Canada in 2015, with 293,061 total sales.

Car loan tips

The road to getting a car loan doesn't have to be bumpy. Follow these quick and easy vehicle financing tips.

Shop for a loan before you shop for a car

Find a lender that'll work with you before you pick a vehicle. That way you’ll know what you can afford — and on what terms. Choose the right car loan for you and your family.

Opt for a shorter car loan

If you can, choose a car loan with a reasonably short term. Your monthly payments will be higher, but you’ll save a lot on interest, making your vehicle a better deal over the long haul.

Avoid multiple credit checks

Too many credit inquiries can damage your credit, potentially leading to higher interest rates. We'll make sure the lender only does a single pull of your credit history, so you can keep your credit score as high as possible.

Don’t use your credit card to buy a vehicle

Credit cards have many great uses, but purchasing a vehicle isn't one of them. You’ll end up paying more on interest than you need to, and the fees and penalties for late payments can devastate your finances.

Car loan news

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