What Credit Score Do You Need
to Buy a Car in Ontario?
There is no minimum credit score required to buy a car in Ontario if you work with a specialized subprime lender. While traditional banks typically require a score of 650 or higher, alternative lenders ignore credit scores entirely and will approve you as long as you can prove a stable monthly income of at least $1,800.
The Traditional Bank Route (650+ Score)
If you walk into a major bank (TD, Scotiabank, RBC, etc.) to get pre-approved for an auto loan, their computers are running a rigid algorithm. If your TransUnion or Equifax score comes back at 649, their system will often issue an automatic decline, regardless of how much money you make. They consider anything under 650 to be "non-prime."
The Specialized Approval Route (No Minimum Score)
If your credit score is 300, 400, or 500, you are not locked out of the auto market. Dealerships and brokers (like Always Approved) partner with lenders who don't use credit scores as the primary approval metric.
Instead of focusing on your past mistakes, they look at your current ability to pay. To get approved with a bad credit score, you typically need:
- Income Validation: Pay stubs or bank statements showing $1,800+ of monthly income.
- Employment Stability: Proof you have been at your current job for at least 3 months.
- Residency: A utility bill or lease proving where you live in Ontario.
Stop guessing. Get approved today.
Don't let a three-digit number keep you from driving. Let us match your income to the right lender.
Apply Now (No Credit Impact)