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If you are like the average Canadian, purchasing a brand-new or pre-owned car outright with cash can be challenging. A car loan financed through your bank, dealership or a company like Canada Drives can help you find a vehicle that suits your needs.

Getting a car loan when you have poor or bad credit is tough and eliminates many of the traditional sources for auto financing.

Canada Drives is one of Canada’s top choices for competitive car loan rates when you need it regardless of your credit score.

This Canada Drives review covers the services they provide and how to find a car loan online from the comfort of your home.

Canada Drives review

What is Canada Drives?

Canada Drives has been providing Canadians with access to car loan financing since 2010. 

The fintech company is headquartered in British Columbia and has completed more than 1 million car loan applications since its inception. As of this writing, Canada Drives has more than 500 employees and over 350 affiliated dealerships.

In addition to its auto loans service, the company also offers personal loans (via Fresh Start Finance) and secured loans (via Spring Financial) across Canada.

How Does Canada Drives Work?

When you are looking to buy a car and finance it, you can visit your bank to see what rate they will offer you or ask at the dealership and hope to get a good deal.

If there are any little dents in your credit profile e.g. limited credit history, poor or bad credit score, or you are facing financial difficulties, your chances of getting approved directly by the bank are pretty slim.

Instead of hopping from car dealership to dealership, Canada Drives offers a platform that connects you with hundreds of certified car dealers across the country. 

The online application process takes about 3 minutes and you can have your car in as little as 48 hours.

Whether you have bad, fair, good or excellent credit, there’s a best rate for everyone.

This is how the process works:

  • Visit Canada Drives here.
  • Select the type of vehicle you want.
  • Enter your basic information e.g. name, address, contact number, employment details, preferred monthly payment, etc.
  • Canada Drives finds a suitable dealer that meets your needs.

Canada Drives Car Loan Application Checklist

To ensure your application for auto financing goes smoothly, you should be able to provide the following information and documentation when requested:

  • Employment details: Proof of employment showing you earn at least $1,500 per month. Income from other government assistance or benefits programs is also accepted.
  • Identification: A valid driver’s license is required and you must have reached the age of the majority in your province which is at least 18 or 19 years old.
  • Bank account: Proof of a bank account in Canada via a void cheque or preauthorized debit form.
  • A valid Canadian residential address.
  • Down payment information: Let them know if you are able to make a down payment on your vehicle of choice.

Why Use Canada Drives?

Some of the reasons why Canada Drives has processed well over a million applications and is a top destination for those looking for car financing include:

1. Fast and Easy Financing: Canada Drives provides a fast online platform for car loans. The application process only takes a few minutes and you can have your car in as little as 48 hours.

2. Any Credit Approval:  Regardless of whether you have a great or poor credit history, there are options for everyone.

3. Find Great Rates: With rates anywhere from 0% to 30%, Canada Drives can help you access very competitive rates compared to other more costly financing options. You can borrow up to $75,000 for terms ranging from 12-92 months.

4. Well-Rated Company: Canada Drives holds a 4.4/5 rating on Trustpilot from more than 1,900 reviews. The company has been rated as one of Canada’s best-managed companies and has been on the Deloitte Technology Fast 500 list of companies for four years in a row.

5. Customer Support and Car Loan Resources: They offer a variety of resources to assist Canadians with making informed decisions relating to auto financing including a blog, car loan calculator and more. You can easily reach their help centre by phone or email.


Getting a car loan can be a hassle, however, online platforms like Canada Drives have simplified the process and made it easier than ever to become approved for one.

As with every other thing that has to do with your finances, always read the small print to ensure you are comfortable with the terms and conditions.

Make sure you understand your payment terms and interest rates and plan to pay off your car loan as soon as possible to save on interest fees.

Get a Car Loan With Canada Drives.

Related reading:

Frequently Asked Questions – Canada Drives

Does Canada Drives conduct a credit check?

Canada Drives will check your credit report and score (hard inquiry) when you apply for a loan. Applicants can be approved for a loan regardless of their credit score.

How can I get a car loan through Canada Drives?

Simply complete the application form here and they will match you with a certified local dealership in your area. The online application process takes about 3 minutes.

Do credit checks hurt your credit score in Canada?

The frequency of your credit applications can impact your credit score. When you check your own score, it is considered a soft inquiry and does not hurt it. The best practice is to limit hard inquiries by lenders whenever possible.

Does Canada Drives offer personal loans?

Yes, they offer unsecured and secured personal loans through their other lending platforms.

What is the interest rate at Canada Drives?

You can access car loans with rates ranging from 0% – 30%.

How do I get a 800 credit score?

We have detailed 10 strategies you can use to raise your credit score here.

Have a question about car loans? Leave them in the comments.

Canada Drives review


Looking for a car loan in Canada? Check out Canada Drives for some of the best auto financing loan rates in Canada. This Canada Drives review covers what you need to know.