Start off by calculating how much your total loan price will be. This includes everything from the cost of the vehicle, broker/dealership fees and any extras you may want to add.


This is the length of time you want to be making payment on the vehicle for. Typical terms run between 2 – 8 years; longer or shorter terms are available.

Credit Score

Credit Score

Your Credit is calculated by third parties based on your borrowing history. The higher your score, the better interest rate you will be able to get.

Interest Rates

This is the percentage rate the lender charges for loaning you money. They base this on many factors but especially on your credit score, length of the loan and amount.

What You Need

In order to qualify for a car loan, you’ll need to prove that you have a steady source of income. Pay stubs or bank statements are generally sufficient proof, though some lenders will want to call your employer for verification. Any assets you can cite may be used as additional collateral to secure the loan.

Unless you are applying at a bank or credit union that you have done previous business with, and that knows who you are, you will need to provide proof of your identity. Lenders typically want to see that you are the age of majority in your province and also know how to drive.

The lender wants to be able to take the payment out of your bank account each month. The easiest way to do this is to get a void cheque or stamped pre-authorized payment form.

In order to complete your loan documents you must provide the lender with your current address and typically proof of residence. This can be in the form of a utility bill or rent receipt.

The more down payment or higher value trade in you have, the higher chances you have of qualifying for a loan. Make sure you have the correct documents to prove ownership with any of your trade ins.

Your Next Steps

Calculate Your Payment

Take a look at our Loan Calculator to help you understand how much you can afford before completing an application. This will give you a good idea of the type of vehicle you should look at based on the monthly payment you can handle.

Contact Us

If you have any questions regarding loan application processes or have general questions about how to obtain a car loan, please visit our Contact Page and send us a message. One of our agents will respond within 2 business days.

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