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Living in one of Ontario’s automotive hubs means you know (all too well) the value of a car. And now there’s an easy way to buy your own vehicle: with financing through our car loan service. We help drivers with bad credit or no credit get the loans they need to purchase a car. Just apply for your loan online and get approved in 48 hours or less.
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 Windsor are market-competitive.
Not much. Just your contact information and then a few details about where you live and work. Don’t worry — we won’t ask for your social insurance number or any references.
You just need to meet our basic car loan requirements. You must be:
Yes. We don’t do a credit check during the application process, but the dealer we match you with probably will. Fortunately, the dealers in our network specialize in bad credit or no credit car loans, so you won’t need perfect credit to get a fair interest rate.
No. While Motor City is just across the river from Windsor, we only work with Canadian dealers. When you apply for a loan on our site, we connect you with a dealership in Windsor (or whatever Canadian city you live in) and they will offer you financing (in Canadian dollars).
No. You can only buy a car from the dealership in our network offering you financing.
Your car loan term is simply the length of your loan, usually expressed in months rather than years (for example, a 5-year loan would be 60 months). Different car loan terms result in different monthly payments, so choose your term based on how much you can afford to pay every month. The longer your term, the smaller your payments.
If you’re comfortable with higher payments, choose a short loan term (24 or 36 months). Your loan will be divided into bigger monthly chunks (your payments), but you’ll also pay it off faster and pay less money toward interest.
On the other hand, if you need to keep your payments low, a long car loan term (48 months or more) offers smaller monthly payments. Of course, there is a catch: you’ll end up paying more interest over the total life of the loan.
Check out the graph below to see how your monthly payments change depending on the length of your loan.
Monthly payments on a $7,000 car loan (at 8% interest)
| Length of car loan | Car loan payment |
|---|---|
| 24 months | $317 |
| 36 months | $219 |
| 48 months | $171 |
| 60 months | $142 |
| 72 months | $123 |
| 84 months | $109 |
| 96 months | $99 |
How long do you plan on keeping your car, and how many years do you expect it to last? Don’t choose a car loan term that’s longer than you think the car will be on the road. You don’t want to pay for a vehicle that you’re no longer driving.
Short loans save you money. Your monthly payments will be larger, but you’ll get out of debt quicker and minimize your interest charges.
We work with reputable dealers, but you should always get a second opinion. Ask a trusted, independent mechanic for an inspection and closely examine the vehicle yourself — look for signs of wear and tear or previous damage.
When you buy from a registered dealership, you get access to a broad range of legal rights and protections, courtesy of the Motor Vehicle Dealers Act and the Consumer Protection Act.
Car BuyingIt's important to look at what’s going on with auto insurance rates, 0% financing offers, and depreciation.
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AutoLike most industries across the globe, the automotive market in Canada has been deeply impacted by the coronavirus pandemic.