Instead, the online service connects you with local dealerships in your region that offer special financing options regardless of your credit situation. The company also accepts trade-ins.Īn important thing to remember about Canada Drives is that it does not issue financing itself. It is one of the few companies that will accept your application even if you receive income assistance or have declared bankruptcy. The company accepts applications from Canadians regardless of their credit score. You can get approval through Canada Drives first, and it will show you only the vehicles that you are eligible to get through a loan.Ĭanada Drives does not discriminate against people who have a limited credit history or a bad or poor credit score. If you had decided on a specific car but faced rejection during the loan process stage, Canada Drives gives you a good solution. It can help you identify how much you can qualify for before you even begin shopping for cars. This section of my Canada Drives review will cover what makes the company unique.Ĭanada Drives stands out because it is effectively a free service that connects you with car dealerships. The lenders available to you and the financing options you get will depend on your specific location and may vary by province.įor instance, you might not be able to access financing if you live in a remote area, but you might get several options if you live in a busy region. The service is available in British Columbia, Alberta, Saskatchewan, Ontario, and Manitoba. Unfortunately, the quick and easy car loan service does not operate in every region of the country. Where Is Canada Drives Available?Ĭanada Drives has been providing its services for over a decade now. Having all of these ready when you start shopping for vehicles through Canada Drives can make the online application process much faster for you. Down Payment Information: Let Canada Drives know if you can make a down payment on the vehicle you want auto financing for through the platform.Bank Account: Proof of a bank account in Canada through a preauthorized debit form or void check.Identification: A valid driver’s license, and you must have reached the age of the majority in your region or province (usually 18 or 19 years old).This can include income through government or other benefit programs. Employment Details: You need to show some sort of proof of employment that can validate that you earn at least $1,500 per month.This section of my Canada Drives review will provide a checklist for the information and documentation that the company will request when you apply. It is much easier to get approval for an auto loan through Canada Drives, but there are some requirements that you need to remember if you want your application for auto financing to proceed smoothly. Canada Drives finds a suitable dealer to meet your needs and connects you with themĬanada Drives Auto Loan Application Checklist.Enter your basic information when prompted.Select the type of vehicle you would like to get.Through a rapid online application process that can take just a few minutes, you can have the car you want to buy delivered to your doorstep in as little as 24 hours. Instead of getting your loan request denied by the bank and hopping to different dealerships, Canada Drives lets you connect with hundreds of certified car dealers across the country to match you with a suitable car to meet your needs.Ĭanada Drives caters to people looking to buy a car, regardless of their credit score or credit history. This is where Canada Drives comes in to help you avoid going through all that effort and heartbreak. You may end up going from one car dealership to another to find a good deal for an auto loan. Problems arise if you have a limited credit history or poor credit score or facing challenging financial times because it means your chances of getting approval from the bank for the loan become low. The other option is to ask the dealership and see if they can offer you a good deal for the auto loan. When you want to buy a car and need to finance it, the traditional route is to go to your bank and see what rate it will offer you. Besides its car loan service, Canada Drives offers you personal loans through Fresh Start Finance and secured loans through Spring Financial. The British Columbia-based fintech company has connected Canadians with local car dealers to help them secure auto financing based on their budgets and financial situations since its inception.Ĭanada Drives boasts its position as the country’s largest 100% online platform to shop for cars.Ĭanada Drives partners with over 350 car dealerships in the country and has a rapidly growing list of over 500 employees. Canada Drives is a free service that has been operating in Canada since 2010 to offer Canadians the chance to access car loan financing.
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