No Credit
Auto Loans Ontario
Every strong credit profile has to start somewhere. We help newcomers, students, and first-time buyers purchase a reliable vehicle and build their Canadian credit score simultaneously.
New to Canada
Recently moved? We can approve you using alternative metrics.
Build History
Every monthly payment is tracked and boosts your score.
Quick AnswerHow do I secure an auto loan without a credit score?
Lenders understand that young adults or new Canadians lack a credit footprint. To compensate, they rely heavily on Income Verification. If you can provide pay stubs and bank statements proving you make at least $1,800 a month, your lack of credit score won't stop you from being approved.
Frequently Asked Questions
Can you get a car loan after bankruptcy in Canada?
Yes. You can get a car loan after bankruptcy in Canada, even immediately after discharge. Specialized lenders like Always Approved work with discharged bankruptcies and active consumer proposals. The key factors are steady income, a reasonable down payment, and applying to the right lender.
What credit score do you need for a car loan in Canada?
Traditional lenders typically require a 650+ credit score. However, bad credit specialists like Always Approved work with credit scores as low as 300. What matters more than your score is your current income, employment stability, and down payment amount.
Can I get a car loan if I have absolutely no credit history in Canada?
Yes! We specialize in first-time buyer programs tailored for newcomers to Canada, students, and young adults who haven't built a credit history yet. Your income and employment stability matter more than a non-existent score.
Do I need a cosigner to get a car loan with zero credit?
Not necessarily. While a cosigner can help you secure a lower interest rate, we have lenders who will approve you on your own merits, provided you meet minimum income requirements.
Will this help me start my credit profile in Canada?
Absolutely. An auto loan is an installment tradeline. By making your payments on time, it will aggressively build your credit profile with Equifax and TransUnion, making future borrowing much cheaper.