Frequently Asked Questions

Can I get approved even if I have bad credit?

Absolutely! Metro Car Loan specializes in getting people a fresh start by focusing on the future instead of dwelling on the past.

What if I have been turned down before?

If you have been turned down before, don't lose hope. A bad credit car loan expert has lenders for almost every situation and carefully evaluates your credit profile, income, and debt factors. At Metro Car Loan the goal is to get you driving. After applying online you will have the help to guide and explain to you what is needed to get approved. Every person and credit challenge is unique but there are more similarities than you might think. Metro Car Loan uses experienced loan experts that excel at being both resourceful and creative and have the ability to get people approved!

If I have filed bankruptcy or consumer proposal, can I still qualify?

Yes, Metro Car Loan accepts all applicants, even those who have a bankruptcy and/or a credit proposal.

What must I do to qualify for a vehicle?

You must take the first step and apply through our secure auto loan application. If you take the first step, we will help you with the rest.

How long does the application process take?

It can be as quick as a couple of hours but in most cases you will be contacted within a 24 hour period. Immediately upon receiving your application the process will begin and you will be contacted as soon as possible. Please keep in mind that if you apply over a weekend or holiday, it can take a little longer.

Will it help if I have a co-signer?

Co-signers, especially those with good credit histories and income, are a definite plus.

Are there any fees associated with your approval application?

No, there are no fees or obligations for making an online application.

Is the information I submit secure?

Yes, your credit application is transmitted using 128 bit Encryption onto a Secure Server.

Do you take Trade-Ins?

Yes! In fact you can use your trade as a down payment if that is your choice. Even if money is owed on your current vehicle options are still available to you.

Does having bad credit or no credit mean I have to drive an older, unreliable vehicle to start rebuilding my credit?

Absolutely not! You can still qualify for a new or late model car, truck, SUV or van.

Will a down payment be required?

On occasion a down payment may be required. If you request a zero down loan then the loan consultant will begin the loan process with that in mind. Several options are available to obtain a vehicle loan with no money down at all. In fact, most bad credit car loans are approved without a down payment.

What are the interest rates for my auto loan?

A very good question for which there is no direct answer until your application is submitted. The financing rate is determined by many factors including overall credit history, the severity of credit problems, the degree of credit risk, the term of the loan and the vehicle selected. You will be presented the interest rate on any loan you qualify for once it has been determined.

Metro Car Loan dealers use only Canada's finest lending institutions and are registered members of OMVIC - Ontario Motor Vehicle Industry Council