Are you looking for an auto loan in Canada with flexible payment terms? Then this Car Loans Canada review is for you.
Today, buying a new car with cash is a luxury that only a few Canadians can afford. Most people want to stretch this financial burden across 24 months, 48 months, or even 60 months by taking out a car loan. However, you must be able to choose from dozens of lending institutions and their offerings. This is where Car Loans Canada comes in handy.
Car Loans Canada works with over 300 lenders to assist you in getting pre-approved for finance. You can get various loan offers from multiple lenders by filling out a straightforward application. Furthermore, by getting pre-approved for a loan, you’ll know exactly how much you are eligible for and the associated interest rate.
Check out this review to see if this online car loan search engine is a good fit for your needs.
What is Car Loans Canada?
Car Loans Canada is Canada’s most popular online car loan search engine. With over ten years of experience and over 1.8 million Canadians served, they are also Canada’s longest online vehicle loan approval service. However, they don’t make the loans directly but rather connect borrowers with lenders. The best part is that it is free to apply for a loan through their search engine, and you can do so from the comfort of your home.
Benefits and key features
- Interest rates from 4.95% to 29.95%
- No credit score required
- Free to use
- Online loan calculator
- Access to rates from over 300 lending partners
- Access to a diverse fleet of vehicles
- Services in nine provinces in Canada.
- Apply through this secure link for a $9 cash back rebate.
Car Loans Canada Partner Companies
They’ve teamed up with various lenders eager to provide you with a low-interest auto loan.
Here are some of the lenders they’ve partnered with:
- Trend Financial
- WS Leasing
- Dominion Leasing
- BMO
- RBC
- Scotiabank
- Servus Credit Union
- TD Canada Trust
- FinanciaLinx and others.
Car Loans Canada connects you with these lenders at no extra charge, making your application seamless.
How to qualify for a loan from Car Loans Canada
You must meet certain requirements to be eligible for a loan from Car* Loans Canada.
First, you must be of legal age and reside in a province where they do business. Second, you must earn a minimum of $2,000.00 every month. Finally, you must have been employed for at least three months and be a Canadian citizen.
Car Loans Canada Downsides
The only significant downside of this company is that it offers its services in only nine provinces in Canada. These provinces are: Nova Scotia, Ontario, Prince Edward Island, Saskatchewan, Manitoba, Newfoundland and Labrador, Alberta, New Brunswick, and British Columbia,
In conclusion
It’s never been easier to find a suitable auto loan with the best rate online.
Car* Loans Canada’s free and simple service benefits almost every auto loan finder. Thanks to their broad network of lenders, you can acquire the ideal auto loan for your vehicle needs and situation.