$0 Down Payment & 100% Bad Credit Car Loans Financing on over 5,000 Cars, SUVs and Trucks

How It Works

How do you get an Ontario car loan with bad credit?

Follow these quick and easy vehicle financing steps. Search online or Social Media websites for a vehicle loan before you shop for a car. Find a lender that’ll work with you before you pick a vehicle.

Getting a car loan with bad credit is very easy and fast as long as you meet some simple requirements. All you need is proof of working income over $2,500, employed at least 3 months and have a valid Ontario drivers license.

Auto Loan Facts
People in Canada love to buy used cars regardless of their credit score when apply for a car loan. In fact, used cars for sale currently outsell new cars in Canada by about 2 to 1. They say about 50% of all the vehicles on Canada’s roads are at least 7 years. New vehicle sales in Canada hit an all-time high in  the year 2015, totaling  around1,898,487units, up about 2.5% from 2014 period. According  to certain resources, nearly 7 out of every 10 auto buyers who financed a brand new vehicle in the last year took a loan of 72 months or longer. Certain car sales resources also reports that nearly 1 in 5 new cars in Canada is leased rather than purchased all out — that’s up from just 1 in 20 a few years ago. Chrysler was the number one selling vehicle manufacturer in Canada in 2015, with approximately 293,061 in total sales.

Here’s how you get a car loan with bad credit

  • Ontario Canada resident
  • Over 18 years of age
  • Working at least 3 months
  • Proof of income of at least $1,800 per month before taxes
  • A valid Ontario Drivers License is required to get a car loan.
  • To get a car loan, you must be able to obtain vehicle insurance for the select vehicle.
  • Car loan approval lenders will require you to have bank statements or pay stubs showing working income.

Once income is verified and credit report reviewed, your finance advisor or auto sales consultant will then discuss the year, make, model of price of the vehicle you can now afford. Interest rates and auto loan payments will be shared as well.

Getting approved (must meet employment and income requirements) for vehicle financing is a simple and hassle free process.

Ontario Canada residents can receive vehicle finance responses with auto loan interest rates within minutes, right from the comfort of their own homes and computers.

If you have already found a vehicle from a site such as AutoTrader.ca, then let us know so we can advise our bad credit car dealership partners when looking to get a car loan with very bad credit or good credit.

OMVIC Certified Car Dealers in Ontario Canada

Our Ontario Canada car dealerships are  OMVIC licensed with over 7000 certified and CarProof Ready Cars, Vans, SUVs and Trucks.

Who or What is OMVIC?

OMVIC administers Ontario’s Motor Vehicle Dealerships Act, to ensure a fair, safe and informed automotive marketplace in Ontario Canada by protecting the rights of consumers, enhancing industry professionalism and ensuring fair, honest and open competition for registered auto dealerships. Read more about OMVIC here.

The first step in the auto financing approval process is to complete the online contact form right here on Car Loans Ontario, entering your name, phone number, email address, city, desired vehicle and the best time for someone at our select partner dealership to contact you to discuss your requirements and auto loan interest rate in detail.

Our auto finance service is 100% FREE with no obligation to purchase the vehicle once approved by the auto dealership or your questions answered.

If you need to buy a new vehicle with 0% purchase financing, then usually very good credit is required to get approved.

We want to make sure you are 100% comfortable with the auto loan approval process, interest rates, vehicle choices and service before moving forward. People need to know all there is to know about how to get a car loan, where to get a car loan, and the types of auto loan interest rates are available to local auto finance applicants.

Bad credit, bankruptcy, good credit, poor auto credit, consumer proposal and whatever your unique case me be, our expert team will provide you with detailed information on what’s required to either get approved for auto financing and how to rebuild your own credit.

Once you’ve been pre-approved for your vehicle loan, the auto finance expert will then present you with a list of certified CarProof ready vehicles for you to choose from, and if the vehicle inventory does not meet your requirements, simply ask if they can find your dream vehicle at the best price.

The entire process has been created to help you, the valued customer get the vehicle requested.

Please proceed now to our online contact form to get started!

After you have applied online, a specialist from the dealership we work with will contact you by phone and email with a list of available new or used car makes and models for sale within your budget and  requirements. Each car make provided after your approval has its own list and each list includes all models in that particular vehicle make along with photos, features, CarProof History, as well as free additional information on that particular car model’s make.

As long as you are able to show proof of income, making over approximately $1800 per month gross, have Ontario car insurance, G2 License, then you will be OK. You can also send us your auto loan feedback to 1560 Bloor Street East, Mississauga ON L4X 148.

If your full-time employment income is less than $1800 per month, then a qualified cosigner will be required.

Our special finance companies are based in Ontario Canada and at this time, are only able to do business with residents of Ontario Canada looking to buy a new or used car that’s over $7,500.

Although most used car dealers in the Greater Toronto Area serve all areas of Ontario Canada, the top cities where most of our online customers are in and near Toronto, Mississauga, Brampton, Hamilton, Pickering, Etobicoke, Scarborough, Richmond Hill Ontario and beyond.

Get approved for a car loan online with one of our dealers today and take advantage of competitive auto loan interest rates and fantastic vehicle selections. Have ODSP and a co-signer to help you get a car loan? The let us know.

We are based in Toronto, Oakville, Mississauga and Brampton and are able to find the any used car dealer that serves your area. They have the experience to get you and your family the right vehicle financing regardless of having bad credit or bankruptcy.

Car Loan Myths

You need an income of at least $30,000 to qualify for a car loan in Canada. False.
This number is often tossed about by some car dealerships and banks, but Canadians can get approved for an auto loan with far lower annual incomes.
People who are self-employed won’t qualify for a car loan as lenders will not accept ti. False.
As long as you can prove the income that’s equal to or above the requirements, one can get approved for a car loan.
Auto loan applicants without very bad credit need a large down payment amount to be approved for a car loan. False.
Many of Canadian applicants get pre-approved for car loans with no money down and no credit history at all.
Auto Loan Applicants without a FICO score can’t be approved for an auto loan. False. No FICO, no problem as long as you meet all the requirements set out by the select lender.
If you’re new to the country Canada or haven’t had time to build your credit score here in Canada, you can still be approved for financing if all other requirements are met.
Low or poor credit score car loans are only available in major cities like Toronto, Brampton and Mississauga Ontario Canada.
False. Our auto loan dealers service all areas in Ontario Canada, so no matter which local city in Ontario, you can get a car loan regardless of credit if you meet all the lender’s requirements for approval.