Frequently Asked Questions
Can I get a car loan if my credit is bad?
Yes you can get a car loan with bad credit, if your employment income and all other auto loan requirements are met.
Can I speak with someone over the phone or contact through text messaging?
Yes. Complete our online form and one of our friendly Auto Loan Experts will gladly chat with you over the phone.
What or Who is Car Loans Ontario and what do we do?
Carloansontario.org is a local Toronto based company with certified OMVIC Auto Loan Experts. We have years of experience working with people looking to buy vehicles and get approved for auto financing.
Can I get a car loan while on ODSP or Ontario Works?
People on ODSP must have a qualified co-signer with the required working income to be considered for a car loan from the dealerships we work with. Auto loan applicants on Ontario Works are not able to get a car loan through our dealers as working income is required to even be considered. Persons must be able to prove income through pay stubs or bank statements.
What if I’m not ready to apply for a car loan and just need basic information?
This is the most common question we receive online and rest assured, by sending us an email through our website, you are not obligated to proceed with the auto loan application once you’ve spoken to a dealership serving your area. We recommend that you include as much information about your auto finance requirements through our contact form. A friendly staff at a dealer will then follow-up with you by phone o discuss your available options such as interest rates, available vehicle inventory and monthly payments, prior to moving forward.
Are you an actual dealership?
No. We are an online company working with car dealers based in Brampton, Greater Toronto referring people with less than perfect credit that need to get approved for vehicle financing and looking to buy a car at a dealership in Ontario with a high auto loan approval rating.
Can I see the inventory before I apply for a car loan?
Once you’ve send us your complete contact information, a dealership will call or email you to discuss your needs and for you to view their inventory. You can read more about inventory here.
What is the difference between Car Loans Ontario and other bad credit auto loan websites online?
For starters, CarLoansOntario.org is a local Ontario based business that only deals with Franchise (new and used car) dealerships in Ontario Canada having at least a 98% approval rate with the high customer satisfaction and after-sales service standards.
This basically ensures your request will get accurately reviewed and pre-approved, as long as you meet their minimum requirements such as having a G2 driver license, Over 18 years of age, proof of income and make $1,800 gross plus per month. Our dealership partners combined have over 1000 new and used vehicles available in stock to choose from.
How fast can I get my vehicle loan approved?
Everyone is based on credit. Our partners work with the best network of Ontario Canada lenders, some of which are able to approve your auto loan that same day provided you have all the necessary paperwork and meet the requirements for financing; else you will typically receive your car loan approval within 48 hours depending how fast you can submit the required information.
What’s the Auto Loan Annual Percentage Rate (A.P.R)?
Your Annual Percentage Rate (APR) depends in your credit history, monthly income, employment and other factors, starting as low as 0% for new vehicle purchases with good credit and as low as 4.99% interest rate for used vehicles. If your credit is terrible with a history of bankruptcy, vehicle repossession or consumer proposal, interest rates could be as high as 29.9%. All depending on your own credit and vehicle selection. So for an actual auto loan interest rate for bad credit, you could be looking at 8.99% to 29.9%.
Contact us online now to discuss your personal APR for an auto loan with good or bad credit.
Do you offer auto refinancing?
No. Our dealership partners do not currently offer refinancing options for existing auto loans.
What are the requirements for an auto loan?
Regardless of your current or past credit history, you are guaranteed a car loan if
- You make at least $1,800 gross income per month. If less than $1,800 per month, then still apply as we have a special dealerships in Ontario with bad credit financing options for people making less than $1,800.
- Employed 3 months or more with provable income
- Ontario Canada resident
- Not on Ontario Disability (ODSP). Must be working full time making at least $1,800 per month
Where in Canada are you located?
We are an online based business in Toronto, operating the Car Loans Ontario website out of offices in Toronto, Brampton, Etobicoke and Mississauga Ontario. However, our selected car dealerships in Ontario Canada services the entire province with over 30 dealership locations.
Do you have examples of happy customers of yours?
Yes. After each vehicle financing discussion or sale, customers are asked by the dealers to provide feedback on the financing team’s level of service. You canto read our auto loan testimonials and car loan success stories.
What provinces do you operate in?
Car Loans Ontario has available lending partners and dealership for bad credit in the province of Ontario only. Areas such as Toronto, Ottawa, Pickering, Kingston Ontario, Brampton, Barrie, Kingston Ontario and other areas. All lenders for bad credit car loans should adhere to all applicable province and federal regulations in terms of disclosures, maximum vehicle interest rates, maximum annual percentage rates and all other pertinent items as it relates to your car loan application & agreement.
What hours are you open?
As we are an online service, we accept auto loan requests 24 hours a day, 7 days a week, 365 days a year. The Ontario Canada auto lenders and dealership partners for bad credit auto financing that we work with are typically open during regular business hours 9am – 6pm Monday to Friday, and do actual credit verification during that time period. If you have not received a response from our referred car loan company within 2 hours, please return to carloansontario.org and resubmit your application so we can refer you to a different auto loan lender for approved vehicle financing.
How do I start my online auto loan request?
To begin the auto loan information request process, click here now to send us an email.