I've been declined before. Can I get approved for financing?

Yes! Applying for vehicle financing is a quick and painless experience with Auto Loan Express! You can start by filling out a comprehensive online credit application. Don’t worry – your information is strictly confidential and held to the highest standards of security. Once completed, our financial expert goes to work for you.

Once received, your application is submitted to the banks most tailored to your current financial situation. Selecting the right lender with your information presented in the best way possible can make all the difference between taking the bus and taking your new car. After an approval is received, our Auto Loan Express team will find the best possible vehicle to fit your credit application. From small cars to full size trucks, we’ve approved and delivered it all!

What do I need once I'm approved?

Your last two paystubs, a valid driver's license (Don't have your class 5 yet? Get approved before your road test!), pre-authorized payment form stamped by your bank OR a void cheque.

If you're self-employed, you will need 6 months of bank statements (showing proof of ownership), and/or T1 General or NOA.

Do I need to put any money down?

Not one cent! Good thing, since pennies are obsolete (and so is your old credit)! At Auto Loan Express, we realize that your money is important to you and we want to keep your finances as liquid as possible. Don’t have cash right now? Ask us how to pay off your credit cards or active collections with your next car loan (you’ve heard of cash back, right?)!

Can I finance a car with no previous credit?

Absolutely! An auto loan is one of the best ways to establish your credit. Auto Loan Express is here to help people get approved for first time in no time. With nothing down, your two most recent paystubs, and a few minutes with Auto Loan Express, we’ll have you on the road to future financial success.

What is a cosigner and do I need one?

A cosigner or co-applicant is typically someone with a more established credit background that adds strength to an application. Although more commonplace in the eighties housing market (due to high interest mortgages and lower incomes), cosigners are still relevant in automotive financing today. They will be applying for the auto loan with you as back up. By adding a cosigner, their strengths help balance where your credit history is potentially weak.

Who can cosign for me?

When a cosigner is requested on a weaker credit bureau, cosigning candidates typically include parents, or someone residing at the same address. This is done to ensure security for the lender. Typically this person will help support you, keeping you and your payments on track to rebuilding your credit.

Will Auto Loan Express take my current vehicle in on trade?

No matter what make, model, or year, Auto Loan Express wants your trade! It may not be new to you, but it could be for someone else! We are dedicated to our clientele and that means we want you to have fair market value for your trade. We look at the data compiled on all pre-owned vehicles bought, sold and traded in across Canada over the last 90 days, and use it as a fair equity assessment for you current vehicle.

I already have a car, can you lower my interest rate?

If you’ve been making your payments on time for the last eight months, you likely qualify for a rate reduction. Even if you want to trade in your vehicle for something different, we can guarantee you a lower rate on your next finance if you have kept your promise to pay on time!

When will I need to make my loan payments?

Whenever is a good time for you. At Auto Loan Express, we can provide various payment options. Using automated withdrawals, you don’t have to remember to make a payment. As long as there are funds in the account, the rest will take care of itself. Get paid every two weeks? Bi-weekly payments will likely work best and report to your bureau twice as often. If you’re a once a month, keep-it-simple type, not a problem. We’ll find the option that works for your budget and your comfort level.

Can I make extra payments on my loan?

Only if you don’t like paying interest. We work with our lenders to push for open-ended financing, allowing our clients to make additional payments, lump sum payments, or pay off their vehicle early with no fees or penalties! Best of all, you only pay for the interest you use, so if that 96 month term gets paid off in 60 months, you’re only responsible for what you’ve already used, not what’s left!

It all sounds great, but how long will this process take?

Working with most of the national banks while utilizing smaller, more nimble credit unions, we create a situation that forces lenders for your business. We can typically get a decision back within a few hours. Under ideal circumstances and assuming that you can provide the necessary paperwork on your end (see “What do I need once I’m approved?” above), we can go from first meet, to your car on the street within 24 hours.