Frequently Asked Questions
What is an auto loan or a car loan?
A car loan or auto loan is a loan issued with the security of a vehicle such as
a car or van, This type of loan is designed to help Canadians make big vehicle purchases
without having to come up with the entire cash amount.
When and how do I get the money?
With this type of loan you dont actually get the money in hand the loan is advanced
and used towards the purchase of your new or used vehicle. You are then responsible
for the repayment of this loan.
I have a low credit score can I still qualify?
Yes you can qualify for this loan. Because we work with a variety of loan programs
and bad credit is a reality for many Canadians there are many options available
for people with low or bad credit scores.
I am between a job do I still qualify?
No you have to have a steady source of income to qualify for this loan, however
pensions and other steady income also qualifies.
Are there any requirements for this Auto Loan that I need?
- You must be at least 18 years of age
- You must be a legal resident or a citizen of Canada
- Minimum Income of 10.38/hr of $1600/month
- To get the loan you need to have a bank account
After I submit my loan application can I change my mind?
Yes you can do that. Once you submit the application a loan officer will review it and
then contact you with atleast one offer. The Submisison of the application states that you
want a loan officer to review it but you aren't under obligation to commit to the loan
until you sign it.
How much money am I able to borrow?
Loans range for $4,000-$49,500.The loan officer will let you know how much that you qualify
for based upon the application that you send.
How do you protect my personal information I send?
Here at Ccarloantree.ca we use advanced technology to ensure your data is secure
We use SSL or 128 bit Secure Socket Layer encryption technology which is industry
standard to protect your information.
Do I need to pay an application fee?
There's no application fee required on this site, its absolutely free to apply.
You have no obligations until you actually sign the loan offer given to you.
You need to read the loan offer and agree to it before you sign.
How do I repay my car loan?
You may pay applicable interest and fees along with the loan amount. The monthly
payment is deducted from your bank account on the date the loan is due so you don't
have to do anything to pay for your loan.