Understanding car loans can feel overwhelming, but we’re here to break it down for you.

Principle

Term

Interest Rate
What is required to qualify?
Employment & Income
Typically, you need to be at your current job for three or more months and earn at least $1,800 per month to qualify for a car loan, but with CreditShift, approvals can happen with as little as one month on the job. We also consider other forms of income, including certain types of government assistance, cash jobs, and self employment, to help more people get approved and on the road faster.
Driver’s License
A driver’s license isn’t always required to get approved for a car loan. While most lenders prefer a full license, we work with several who accept learner’s permits — and even some who only require a valid government-issued ID. At CreditShift, we’re all about opening more doors to help you get behind the wheel.
Bank Account
You will need an active bank account to get approved for a car loan. Some lenders require you to provide a void cheque or a pre-authorized debit form so they can set up your loan payments. If you’re unsure how to get these, our team at CreditShift is here to guide you through the steps and make sure you’re ready.
Down Payment
We specialize in $0 down car loans, so a down payment isn’t required, but if you have money saved up, it can work in your favor! Putting money down can help lower your monthly payments or shorten your loan term, which means you’ll save money on interest, over time. At CreditShift, we help you find the best option for your situation, whether that’s with or without a down payment.
Current Address
You’ll need to provide your current Canadian address when applying for a car loan. Any Canadian address will work. If you’ve been at your current address for less than two years, we’ll also need your previous address to complete the application. Don’t worry, CreditShift makes it easy to provide this info and keep the process moving smoothly.
Contact Details
This part is easy! You will just need to provide your basic contact details. We’ll ask for your full name, date of birth, email address, and phone number so we can process your application and keep you updated. At CreditShift, we keep it simple and hassle-free!