TRUTH ABOUT BAD CREDIT CAR LOAN COMPANIES

“100% Guaranteed Approvals – Bad Credit OK” is Just Another Gimmick.

Stay Informed About Bad Credit Car Loan Companies

When searching for a bad credit auto loan online, you will come across websites that will offer a “100% Guaranteed Approval Rate with Any Credit”. Their intention is to take advantage of people looking to finance a car with bad credit.

This advertising strategy is used by various dealerships and finance companies to either get you through the door, or to sell your personal information to another finance company. The majority of these websites are lead-generation companies with absolutely no knowledge of how bad credit car loans work.

While the offer of a guaranteed car loan approval may seem attractive, the reality is that it is impossible to guarantee a 100% approval rate for a bad credit car loan. The customer’s possession of a valid driver’s license must first be confirmed along with their identity, income, and credit history.

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There are a few bad credit auto finance companies out there that advertise a 100% approval rate and truly do get you 100% approved, but at what cost? These auto loan companies use their own in-house financing and can charge you anywhere between 29% and 49% interest on your auto loan.

On top of that, your auto loan does not get reported to the credit bureau. Therefore, you’re driving a vehicle at a higher interest rate than most credit cards, while not rebuilding your credit in any way. Shouldn’t the goal be to move forward?


Another way these companies can get you “100% approved” for a bad credit car loan is by telling you last minute that a LARGE down payment upwards of 50% of the vehicle selling price is required. For the majority of people searching to finance a car with bad credit, a 40%-50% down payment is not only unexpected, it’s also too much of an upfront expense.

Reputable banks and lending institutions will NEVER guarantee a 100% approval. Every lender has a multi-step approval process for every bad or no credit loan application, which consists of many factors such as job stability, income, residency, debt to income ratio and much more. Can you picture a top 5 Canadian bank advertising “100% Guaranteed Mortgage Approval”? We sure can’t…

If you do end up going with an auto finance company that offered you a guaranteed bad credit car loan, please take your time in reviewing all documents. Check for any additional “administration” fees, interest rates, loan terms, and down payment amount. Purchasing a vehicle is a big step – make sure it’s with the right company that specializes in auto loans for people with credit challenges.

How Are We Different?

  • We don’t advertise “100% Guaranteed Approvals” not only because it would have put us out of business years ago, but also because it’s just NOT possible, especially when it comes to bad credit car loans.
  • We are NOT a lead generation website. We are Canada’s largest specialty finance company helping hundreds of clients get approved for a car loan every day regardless of their credit history.
  • We have access to over 4000 new and used certified vehicles in our inventory, that come fully-certified, reconditioned and e-tested.
  • We have highly trained special Finance Managers who work with you every step of the way to ensure you get approved within 24 hours at the lowest possible interest rate. We work with every bank, including yours!
  • Most of our applicants get approved for a car loan with as little as $0 down.
  • We are FULLY transparent with our clients. Our goal is to provide you with a safe, reliable vehicle, as well as help you re-establish your credit while maintaining first-class guest experience. Read our reviews here.

After the application process, our Finance Managers will work closely with you to ensure a smooth approval process and will submit all required documents to the lender on your behalf (with your consent of course). This way, most of our clients get their vehicle delivered to their door the very next business day!

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