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Car Loan Questions

General Questions

How does it work?

After you take less than 5 minutes to fill out the application, an agent will contact you to walk you through the whole process of obtaining the financing and selecting a vehicle.

What is the minimum requirement?

You must be of legal driving age in the province that you reside in, and be a permanent resident in Canada. You also need to be employed for 3+ months.

Where are you located?

We are located in Winnipeg, Manitoba. We offer our services throughout the Prairies and across Canada.

How long does the process take?

After submitting the application, one of our agents will contact you as soon as possible. Depending on the day, it may take up to 24 hours one of our agents to contact you.

How much does your service cost?

This is a free no obligation consultation. It does not cost you any money and you do not pay anything. You are not committed to anything until we have found a vehicle that will suit your needs.

Application Questions

Do I have to do a credit check?

Yes, we need to look in to your credit to further process your application.

Do I need a down payment?

Although a down payment isn’t always necessary, it will often help. The less you have to finance, the more likely the lender will be to approve your car loan.

Do I need a cosigner?

While we are usually able to get approvals without a cosigner. Whether or not someone will require a cosigner or not depends on the lenders decision.

Do I need to have a bank account?

The lender wants to be able to take the payment out of your bank account each month. The easiest way to do this is to get a void cheque or stamped pre-authorized payment form.

Do I need a drivers license?

It is necessary to have a valid driver’s license and be the age of majority in the province that you live in. Lenders know that customers are more likely to pay back their car loan if they can legally drive.

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Prairie Automotive Finance