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What our users say:

Based on 322 reviews
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
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 20
Imad Harrouk helped us with getting a…
Imad Harrouk helped us with getting a car insurance quote. He was very friendly ...
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 17
Highly Recommended !
I spoke with Mr. Imad Harrouk of DirectRate for quotes on my car and condo insur...
May 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
May 13
Amazing service
Amazing service, Sonia is patient and helpful. Can not complain. I am happy with...
Miroslav Adalbert Elias
May 12
Meghan Ford helped me and she was…
Meghan Ford helped me and she was amazing. I saved $160/month between home and a...
May 11
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...
April 16
Chelsea was very helpful and a pleasant…
Chelsea was very helpful and a pleasant person to deal with.
Keith Tarala
April 16
simple quick and easy
simple, quick and easy
tony palumbo

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 in Kitchener-Waterloo. Just like that.

If you live in the Kitchener-Waterloo area, you know just how useful it is to have a car in K-W to get around. But purchasing a vehicle can be difficult when you have bad credit or no credit. Luckily, we help Kitchener-Waterloo drivers obtain the financing they need to get on the road — even if they have credit problems. Applying is easy, and you can be approved for a car loan in 48 hours or less.

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.

Kitchener-Waterloo car loans made easy.

We’re proud of the car loan service we offer. Here’s why applying for a car loan online through is the better way.

Your Kitchener-Waterloo car loan questions, answered.

I just moved to Kitchener-Waterloo from another country. Will I qualify for a car loan?

Yes, if you meet a few key criteria. You must be a resident of Canada, have a full driver’s license, make $1,500 per month at your job, and be at least 18 years old.

Once I’m approved for my car loan, can I shop around at different dealerships in Kitchener-Waterloo?

No. Our car loan service matches you with a specific dealership, and that dealership will offer you the loan. Once you get your loan, you’re free to shop around for a vehicle on the dealership’s lot.

How much interest will I have to pay on my car loan?

The dealerships we work with offer interest rates that vary depending on your credit rating.

How much tax will I have to pay when I buy my car?

Sales tax in Kitchener-Waterloo (and the rest of Ontario) is 13%. Remember to factor in this cost when you’re budgeting for a car.

How does the length of my car loan term affect my monthly payments?

On a given loan amount (say, $10,000), a shorter term will result in higher monthly payments, while a longer term will result in lower monthly payments. The main advantage of a shorter loan term is that you pay less interest.

Check out the graph below to see exactly how different loan terms can affect the size of your payments:

Monthly payments on a $10,000 car loan (at 8% interest)

Length of car loanCar loan payment
24 months$452
36 months$313
48 months$244
60 months$203
72 months$175
84 months$156
96 months$141

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 if you have no credit or bad credit.

Kitchener-Waterloo car loan tips

Set some priorities before shopping for a car

By setting some priorities in terms of what you want in a car, such as specific safety features, fuel mileage, passenger capacity, etc., you can quickly narrow down the list of vehicles that meet your needs.

Negotiate the financing first

Simply put, it’s a good idea to separate the terms of your financing from the price of the vehicle you’re interested in. Once you’ve agreed on your car loan details (interest rate, loan term, etc.) with the dealership, then you can shop for a vehicle that fits your budget and you can start negotiating the final purchase price.

Get an inspection before you buy

We know you’re excited to get out on the road in your new car, but first you need to get a vehicle inspection from a certified mechanic. Enjoy your wheels with the peace-of-mind that only a detailed inspection can bring.

Read sales and financing contracts carefully

When you’re ready to sign your sales or financing contract, take the time to read it with great care and ask for clarification if you don’t understand something. Remember, there’s no “cooling-off” period on car sales in Ontario, so your purchase is final unless the dealer failed to make a required disclosure.

Kitchener-Waterloo car loan facts

  1. Want to know the wholesale price or trade-in value of your current vehicle? The Canadian Black Book is a good place to start.
  2. According to Statistics Canada, 88% of all workers in the Kitchener-Waterloo region commute. Many of those workers probably have a car loan.
  3. A survey by Canada’s banks found that over two-thirds of all new vehicle car loans were for terms of 72 months (6 years) or more.
  4. If you buy from a registered dealer who fails to follow the law during your car purchase, you could be eligible for up to $45,000 from the Motor Vehicle Dealers Compensation Fund.

Kitchener-Waterloo car loan myths

  1. Purchasing a car from a registered dealer is the same as purchasing from a private seller. False. Unlike private sellers, registered dealerships must comply with the various regulations put in place by the Ontario Motor Vehicle Industry Council.
  2. The interest rates on bad credit car loans are always extremely high. False. If you have bad credit, the interest rate on your car loan may be elevated, but you can still find a loan with a reasonable rate by using our site.
  3. Registered dealerships don’t have to disclose if a vehicle's odometer has been broken, replaced, or rolled back. False. As part of the 22 mandatory disclosures, registered dealers must make when selling a vehicle, all odometer abnormalities must be brought to the attention of the buyer.
  4. Before I’m matched with a Kitchener-Waterloo dealership through, a credit check is required. False. We don’t perform credit checks on our car loan applicants. Once you’re matched with a dealer, however, they may ask for a credit check before offering you financing.

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