VANCOUVER ISLAND USED CARS IS A PROUD AFFILIATE OF CANADA DRIVES

VANCOUVER ISLAND USED CARS  IS A PROUD AFFILIATE OF CANADA DRIVES - CANADA'S #1 CREDIT SOURCE

Canada Drives started because we were frustrated with the growing number of hard-working Canadians who needed vehicle financing, but were getting told "NO"

Canada Drives works with local dealerships from Coast-to-Coast to ensure that every customer regardless of bad credit or no credit has access to the auto financing they need.  Vancouver Island Used Cars is our Vancouver Island Certified Dealer Affiliate, representing major markets like Courtenay in the Comox Valley, Campbell River, Powell River, Parksville, Nanaimo and even as far as Victoria.

We have helped thousands of people from across Canada get driving the vehicle they deserve while maintaining the highest commitment to security, privacy and customer service.

Customers who apply online gain access to inventories of 100's of eligible vehicles and flexible bad credit financing options that work!!!

100% Guarantee - Canada Drives makes sure that every person gets the best possible experience and is contacted promptly by their local representative. Because poor credit should not mean poor customer service.

Get Approved & Find Your Perfect Car Apply In Minutes and Get Approved for a Car loan today!

Bad Credit Car Loans - Bad Credit? No Problem!

Our goal is to ensure that you are able to obtain the vehicle financing that you need. The reality is that not all people have good credit, which means that walking into a bank and leaving with a car loan may not be a realistic scenario for many. With bad credit, it can be extremely challenging to secure a loan through traditional channels. When you apply, Canada Drives will connect you with lenders that can help you find, and start driving, a new vehicle.

We have already helped tens of thousands of Canadians by building and maintaining a large network of dealer partnerships in every region of Canada. This enables us to seek out the best car loan options for you. Here is a brief on all of your bad credit car loan basics:

Step 1: Preparing for your Bad Credit Car Loan

In the first stage of our process, we have you pick a vehicle type. By indicating which type of car you are looking to finance, we are able to find dealers that have this particular kind of vehicle in their inventory. It is important to note that by selecting a certain vehicle at this stage of the process; you will not be locked into purchasing this model. However, this selection helps us when we are identifying your vehicle needs.

By indicating which vehicle you are interested in, we are able to provide you with a better understanding of how much you can afford for monthly payments. If you are interested, you can use our Car Loan Calculator to determine what you can afford.

Step 2: Filling Out the Application

Next, you need to fill out our easy-to-use, online Car Loan Application form. During this step you are asked for some basic information. We do not require a Social Insurance Number (SIN), although we do ask for you to provide other details such as your employment, your address, and your contact details. The information that you provide during this step helps us determine which vehicle will fit within your budget. As we assess this, it may be necessary to contact you directly to gather some additional information in order to move forward with your application. When we evaluate your financial parameters and personal vehicle needs, we are able to paint a clearer picture for which vehicle will be a good choice for you moving forward.

Step 3: Matching you with a Dealer

After the first two stages are complete, we are then able to match your application with a certified dealer partner who is able to discuss your vehicle options and the amount that you are able to dedicate towards your monthly payments. After we have matched your application with our partner, you can then expect to be contacted by the dealer who is in the best position to offer you a suitable vehicle agreement.

At Canada Drives, we believe that having bad credit should not interfere with your specific financing needs. We are highly committed to offering you a simple approach to obtain your loan that works to keep the process of getting a vehicle straightforward and stress-free.

Understanding Car Loans - Car Loans for Bad Credit

The process of applying for a car loan is a confusing one that poses many questions. Where do you start? How is an approval determined? What is required in order to get an auto loan?

Not only are these questions important, but finding the answers can be a frustrating process that involves multiple searches and compiling of a ton of information. We wanted to make finding this information as easy as possible, so we put together a page where you can access all of the answers that you might have quickly and easily.

How is an approval determined?

Payments on a car loan are typically determined by three main factors: the principal, the term, and the interest rate.

Principal: This is the total cost of the vehicle including any fees that the lender or dealership add on for the car loan.

Term: The term is defined as the length of time that payments will be made for. Typically, the term will run anywhere between 36 months (3 years) and 72 months (6 years), although it is not uncommon for loans to be granted with longer or shorter terms.

Interest rate: This is the percentage that the lender will be charging you to borrow the money for your loan. Interest rates can vary depending on whether the vehicle in question is new or used, and the risk the lender perceives in lending the money.

What am I going to need to get a Car Loan?

When you get a car loan you are typically making payments back to a lender rather than to the dealership. That being said, some dealerships will offer in-house financing, which might allow a customer with bad credit to get an auto loan in instances where they otherwise would not have been able to. In this case the car loan is directly with the dealership or "in-house".

Apply Now and let one of our car loan experts help you select the right vehicle and get you the best deal on payments!

What am I going to need to get my Car Loan?

When you apply for an auto loan a primary consideration for lenders will be your ability to afford payments. If an applicant has bad credit, it can be looked past if the person is able to prove that they are capable of making payments and affording the vehicle.

Employment or Income: In order to be approved for a car loan it is often necessary for you to have been at your current job for three or more months so that you will, as a general rule, be past your probation period. This increases the likelihood of you staying at your job in the eyes of lenders. There are also many instances where lenders are able to accept alternative forms of income, such as government assistance.

Driver's License: Yes, you need a valid drivers license in order to get an auto loan. It is also necessary that you be the age of majority in the province that you live in.

Current Address: This will be necessary since lenders will want to know where you live.

Bank Account: When you are approved for an auto loan, it is necessary for you to make payments on time. The easiest method of achieving this is through your lender being able to take a payment out of your bank account each month.

Down Payment: While it isn't always necessary, having a down payment available when trying to get a car loan with bad credit can be incredibly helpful. The less you have to finance, the more likely that a lender will approve you for a loan. That being said, there are often zero finance options available.

One of these easiest ways to help understand car loans for bad credit is to get connected with one of our affiliate dealerships from our network. They will be able to walk you through all the steps and make sure you find a vehicle and a payment you're happy with. - Online Application - Fast, Easy and Secure!

Apply for Your Loan Now!

Your online application takes only 2 minutes to complete and we only ask for information we actually need, no SIN required.