Look Beyond A Single Number
Your credit score matters, but a financing review may also consider your income, employment, existing debts, down payment and chosen vehicle. Share an accurate picture so your dealership can assess the available options.
Auto Approved / Financing Guide
Car Financing For A Fresh Start
Move Forward With Your Next Vehicle
A setback does not have to put your plans on hold. Explore vehicle financing with a participating Ontario dealership that can review where you are today — your income, budget and credit history together.
Different Credit SituationsA Budget That Fits Your LifeNo Obligation To Buy
Your Next Chapter Starts With A Practical Plan
Missed payments, a consumer proposal or limited credit history can make shopping for a vehicle feel uncertain. Start with a payment you can comfortably manage and a clear picture of your current finances. A dealership can then explore lender options suited to your application.
WHAT MATTERS MOST
A Few Things Worth Understanding
Choose A Manageable Payment
Build a budget that includes insurance, fuel and maintenance. A vehicle that meets your everyday needs can be a better starting point than stretching for the highest amount a lender will approve.
Prepare For A Stronger Application
Recent income documents and a realistic down payment can help a dealership understand your circumstances. Requirements vary, so ask what documents and conditions apply to your request.
A LITTLE PREPARATION HELPS
Prepare For Your Fresh Start
Use this checklist to make your next conversation more useful. Take your time, ask questions and keep your budget at the centre of your decision.
Take My Next Step- Review Your Monthly Income And Expenses
- Check Your Credit Report For Errors
- Gather Recent Proof Of Income
- Choose A Realistic Vehicle Budget
PLAN YOUR NEXT MOVE
Make Your Budget Work For You
Explore estimated payments before you start shopping. All amounts are in Canadian dollars.
Car Payment Calculator
Tax is applied to the vehicle price. Enter other financed costs inclusive of applicable tax. Trade-ins, exemptions, rebates and lender-specific fees are not modelled.
Credit bands and rates are examples for planning only. They do not establish qualification, and 6.39% is not a guaranteed lender offer.
YOUR ESTIMATED MONTHLY PAYMENT
$603.00/ Month
60 Monthly Payments · 6.39% Annual Interest
- Amount Financed
- $30,900.00
- Tax Estimate
- $3,900.00
- Total Interest
- $5,280.19
- Total Loan Repayment
- $36,180.19
- Total Including Down Payment
- $39,180.19
COMPARE THE POSSIBILITIES
Try An Example Scenario
Each example uses 6.39%, a 13% Ontario tax estimate and no additional financed costs.
ANSWERS BEFORE YOU APPLY
Your Questions, Answered
Get comfortable with the details before moving forward.
Can I apply after bankruptcy or a consumer proposal?
You can submit a request and discuss your circumstances with a participating dealership. Your proposal or bankruptcy status, lender requirements and overall finances will affect whether options are available.
Will a vehicle loan improve my credit?
Consistent on-time payments on an account reported to a credit bureau can support your credit history. A specific score increase is not guaranteed, and late payments can hurt your credit.
Do I need a down payment?
Down payment requirements depend on the lender and your application. A down payment reduces the amount borrowed; your dealership will confirm whether one is required.
YOUR NEXT VEHICLE. YOUR NEXT CHAPTER.
Ready To Explore Your Options?
Tell us what you’re looking for and start your financing request with Auto Approved.
Start My Application Free to apply · No obligation to buy · Financing subject to lender approvalMore Guidance For Your Next Vehicle
Credit Checks, Clearly Explained
Credit checks are a normal part of vehicle financing.
Explore GuideCar Loan Rates And Payments
Your next vehicle should work for your budget as well as your lifestyle.
Explore GuideYour Car Financing Application
Start with your needs, your budget and a few details about you.
Explore GuideCar Financing Across Ontario
From daily commutes in the GTA to longer drives beyond Barrie, your vehicle needs are local.
Explore GuideConnect With A Participating Dealership
Bring your vehicle needs and financing questions together.
Explore GuideAuto Approved connects applicants with participating dealerships. Auto Approved may offer an optional authorized soft review where available. Dealerships and lenders handle financing credit checks and decisions. Rates, terms and availability depend on eligibility. Privacy Policy · Terms Of Use