We have the lowest minimum requirements of any finance company that we are aware of and we will fight for your loan or lease until there is no other option available, after that we will give you a path that if followed will result in a loan or lease being approved. Ultimately it’s up to the banks but we know the best banks for your specific situation.

We have a very high approval rate and the lowest minimum requirements in the industry. As long as you meet or exceed our minimum requirements or we can combine your income with another person who meets our minimum requirements we can get you a vehicle. 

Minimum Requirements 

Each bank program has different requirements, most credit and employment situations are different, these are some minimum requirements examples for less than perfect credit (good credit has less requirements) but do not let them hold you back from applying as each case is different this is just a general guideline:

1. Canadian citizen (there are exceptions)

2. Age of majority in the province you reside in (e.g. 18+)

3. Full time employment for 3 months or more

4. $2300 gross income per month before tax and other deductions on your paycheque (note: we can use child tax, pension, disability in some scenarios as income). In some cases your income can also be combined with another persons income.

5. Only one current vehicle loan under your name (***only applies to less than prime credit)

6. You can prove your income with pay stubs, tax returns etc

Again this is only a general guideline, its free to apply and zero obligation —> APPLY NOW (click)

We will first gather only the info that is needed for a pre approval. 

Personal information will include your full name, date of birth, address, and phone number. 

To get fully approved by the bank, we will need  employment details,  copies of your proof of income (e.g. pay stubs), Social Insurance Number (in some cases), the bank may verify your employment details by calling your employer. We safeguard this information with multiple layers of security functions and will only keep certain details on file for a period that complies with the current Canadian Government’s Laws or the Personal Information Protection and Electronic Documents Act (PIPEDA). 

The major benefits are: getting approved, saving money, saving time and less stress with the entire vehicle buying and financing process.

More specifically heres a list of each benefit:

Experienced finance Pro’s – When you choose one dealership you deal with one finance manager who is the go between the banks and the dealership you chose to apply at. Generally this means you have no idea if this is a rookie finance manager who doesn’t have the experience or contacts needed, to put it in perspective: would you hire an apprentice tradesperson to build your home? Probably not. The other issue that is quite common is a lazy finance manager that doesn’t care if you get approved or if you save money. Sounds strange, but this is how the industry works for various reasons, even when they advertise that they specialize in “Bad Credit Car Loans” or “Lowest Interest Rates” etc. 

All of our finance professionals have over 10 years in the auto finance industry. There are ZERO finance rookies. With Mr Car Loans, our business is not only caring about your various interests, like getting approved or saving money, but we guarantee to bargain as much as possible in all aspects, every time, without fail. The most beneficial aspect to us providing the best service to you is your return business and referring your friends or family etc.

More bank programs – The second but equally important aspect is we have access to all the lease and finance programs in your area. Each individual dealership will have separate banks who have different banking programs that specialize in certain types of credit. When you apply at one dealership you are restricted to only the banks they have access to, with Mr Car Loans we have access to all the major dealerships as well as their banks in your area. More Banks = more opportunity especially with less than perfect credit.

Save money – We save you money by reducing your interest rate as low as it can go by negotiating with the bank as well as bargaining with the dealership on the vehicle itself. You also receive automatic discounts on things like extended or after market warranty and gap insurance.

Save time – No more wasting searching hours or even days online for to find the vehicle you want, then taking time off work or going to view multiple vehicles on your days off.  We search through our partners inventories for the perfect vehicle then plan the test drive around your schedule . In some cases we can even have the vehicle brought to you to test drive it if your schedule is too demanding.

Zero stress – Have professionals answer every question you have with zero pressure sales tactics. No more pushy sales people. We will make the process fun and relaxed. Drive away satisfied knowing you made an informed decision.

Each bank program has different requirements, most credit and employment situations are different, these are some minimum requirement examples for less than perfect credit (good credit has less requirements) but do not let them hold you back from applying as each case is different this is just a general guideline:

1. Canadian citizen (there are exceptions)

2. Age of majority in the province you reside in (e.g. 18+)

3. Full time employment for 3 months or the an income 

4. $2300 gross income per month before tax and other deductions on your pay cheque (note: we can use child tax, alimony, pension, disability in some scenarios as income). In some cases your income can also be combined with another persons income.

5. Only one current vehicle loan under your name (***only applies to less than prime credit)

6. You can prove your income with pay stubs, tax returns etc

Again this is only a general guideline and doesn’t apply to those with good credit, its free to apply and zero obligation —> APPLY NOW (click)

For all loans and leases we absolutely have to check your credit for many reasons, BUT we have programs that all but the most extreme cases of bad credit can get approved. You just have to meet minimum employment and income standards. Which we have (to our knowledge) the lowest in the country.

Just because you got declined elsewhere doesn’t mean they knew what they were doing or had access to the banking programs we do

Not always, many of our clients qualify for our zero down programs. Any money down can help with approvals, interest rates, and payments and is always recommended when purchasing a vehicle.

Get qualified for your $0 Down Auto Loan or Lease here —> APPLY (click)

Most of our clients do not need a cosigner if they are employed full time or meet the low minimum requirements, but all credit and financial scenarios are different. Even if you were told you needed a cosigner elsewhere still apply as we are experts in less than perfect credit scenarios or no credit situations,

You will never receive a bill form us. We charge the dealership!!

No, there is Zero Obligation to purchase but please tell us where we went wrong if this does happen. We value the feed back from your experience with us will always strive to make things right.

The access we have is so large it would be difficult to list, as well as the inventories change from day to day. Its a few full time jobs at each dealership to keep track off and post each vehicle online. We have access to top new and pre owned dealerships across Canada, every make and model. But the first step is getting you approved.

New and pre owned: Cars, trucks, SUVs, Vans, Motorcycles and more. All makes. All models.

As low as 0% but our rates are always the lowest possible and are negotiated by our finance experts using their contacts, various banking programs, and experience.  Most dealerships want you to impulse buy, you are in the dealership, you just got approved, you test drive a shiny new car, sign the papers and drive away…right? Wrong. It takes a little extra time for you to get a negotiated rate, and we don’t like impulse buys.

The rates can change based on the manufacturer, your credit, the bank we apply with, your budget for your payment, how long the loan or lease is, if you are currently in bankruptcy or consumer proposal. There are just too many factors to list. Rest assured we will negotiate to the best of our ability and far more then anyone else we are aware of.

Rates are directly associated with the risk for the bank. Whats high to you may not be to the next person. What we can do is negotiate the best rate possible and you always have the choice whether it works for you. We will guarantee applying won’t be a waste of your time and you will receive the best rate we could negotiate.

Usually we will be in touch within 24 hours on the weekdays. Weekends, holidays or busy sedans it can take up to 48 hours. To speed things along make sure you have provided your pay stubs there would have been an email sent to you with links to do so, or a text message from our system.