Auto Loan & Financing FAQ Quebec

An auto loan is financing specifically designed for purchasing a vehicle. You borrow a sum of money that you repay monthly over a defined period (usually 24 to 84 months), with interest.

Rates vary between 6% and 15% depending on your credit profile, credit history, loan term and vehicle type. Our calculator lets you estimate your rate.

The maximum term is generally 84 months (7 years). Common terms range from 24 to 72 months. A longer term reduces the monthly payment but increases total interest cost.

Yes, both are possible. New vehicles generally offer better rates since they carry less risk. Used vehicles may have slightly higher rates.

Even with bad credit, you can get an auto loan. Our specialists work with lenders who accept higher-risk profiles. You may need a larger down payment or accept a higher rate.

2nd chance credit means that even if you have had past credit issues (late payments, bankruptcy, low score), you can still get an auto loan. It is an opportunity to rebuild your credit.

Yes, even after a bankruptcy, you can get an auto loan. Most lenders accept applications 2 years after your bankruptcy discharge. The longer you wait, the better your rate.

Getting an auto loan can improve your score if you make regular payments. However, your score will first dip when you apply, then gradually improve with on-time payments.

Generally, we need: ID, proof of income (pay stub), proof of residence, and possibly proof of employment. Having a co-signer can help.

1) Browse our online inventory. 2) Find the vehicle you want. 3) Submit a loan application. 4) Receive pre-approval. 5) Complete final paperwork. 6) Sign the contract. 7) Vehicle delivery.

Generally, 24 to 48 hours. Some complex cases can take up to 5 days. We speed up your application if you provide all documents quickly.

No, it is not mandatory, but a down payment reduces the amount financed and total interest cost. A larger down payment can also improve your approval chances.

Yes, you can apply entirely online. Visit our "Loan Application" page and fill out the form. We will contact you to finalize the details.

Pre-approval indicates the maximum amount lenders are willing to finance for you and at what rate. This makes shopping easier and gives weight to your offer.

Yes, all our used vehicles undergo a complete mechanical inspection. We check the engine, transmission, brakes and electrical system to ensure quality.

We offer warranties that vary based on the age and mileage of the vehicle. Ask for details at the time of purchase. Some new vehicles offer the full manufacturer warranty.

Yes! Our "Private Party Auto Loan" service lets you finance the purchase of a used vehicle directly from a private seller. We handle the entire process.

Manufacturing defects in the engine, transmission, steering, suspension and braking system. Normal wear and routine maintenance are not covered.

Yes, comprehensive insurance is mandatory for any financed vehicle. It protects both you and the lender in case of accident or theft.

Insurance averages $600-1500 per year, depending on your age, driving history, vehicle type and chosen deductibles. A poor credit file can increase the cost.

No. Our calculator shows all fees including interest rate, taxes (14.975% in Quebec), administrative fees and insurance estimate. No surprises!

Yes, most auto loans allow early repayment without penalty. Pay more than your monthly payment to reduce interest.

Late fees are added to your account. After 30 days late, your file is reported to credit agencies. After 90 days, the vehicle may be repossessed. Contact us quickly if you are having difficulties.