Apply for a car loan
Get StartedYou know the drill in Ajax — it’s hard to get where you need to go without a car. Lucky for you, getting bad credit auto financing is easy. Our car loan service helps Ajax drivers get the loans they need to get on the road. Fill out an application, get approved, and choose your car from one of the registered Ajax dealerships in our network. It’s that simple.
We’re proud of the car loan service we offer. Here’s why applying for a car loan online through LowestRates.ca is the better way.
Applying only takes a few minutes.
Got bad credit or no credit at all? Don't sweat it.
Our auto loans range from $5,000 to $40,000.
Your info only goes to the dealer we match you with.
There's no charge to use our car loan service.
Our auto loan rates in Ajax are market-competitive.
Yes. The main purpose of our car loan service is to serve Canadians with bad credit or no credit. We will connect you with an Ajax dealership capable of processing your car loan application.
Yes. We can get you a loan in Ajax or anywhere else in the Greater Toronto Area even if you have no Canadian credit score. The dealers in our network specialize in bad and no credit auto loans.
Of course. We work with all Ajax drivers, regardless of their driving experience.
You need to be employed and earn a minimum income of $1,500 per month. You also need to be 18 years or older, a resident of Canada, and have a valid driver’s license.
The Harmonized Sales Tax (HST) is 13% in Ajax (and the rest of Ontario). Remember to include this amount in your car-buying budget.
Long car loans result in smaller monthly payments spread out over a greater duration of time. Short car loans do the exact opposite: your principal balance (plus interest) is divided into larger payments over a more compressed duration of time.
Check out the graph below to compare monthly payments on short and long car loans.
Monthly payments on a $9,000 car loan (at 8% interest)
| Length of car loan | Car loan payment |
|---|---|
| 24 months | $407 |
| 36 months | $282 |
| 48 months | $220 |
| 60 months | $182 |
| 72 months | $158 |
| 84 months | $140 |
| 96 months | $127 |
You can’t shop for your new ride until you know your budget, so spend time negotiating the details of your car loan first: what loan amount are you approved for, what interest rate can you get, and how long will your loan be?
The purchase price of the car is just one expense to consider. There’s also maintenance, fuel economy, repairs, and, of course, car insurance. Research the cost of operating a vehicle before you buy it and compare insurance rates online.
Attention all Ajax car buyers: if you can afford bigger monthly payments, you should opt for a shorter car loan. With a short loan, you’ll pay less interest and get rid of your loan in less time.
Registered dealerships follow a variety of rules and regulations set out in Ontario’s Motor Vehicle Dealers Act. If you buy from a private seller, you won’t be able to take advantage of those protections.
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AutoLike most industries across the globe, the automotive market in Canada has been deeply impacted by the coronavirus pandemic.
AutoIf you’re convicted of it, it can affect everything from your driving record to your insurance rates.