Approvals depends on several factors, including your credit profile, income, employment status, residency, down payment (if applicable), application details, and the vehicle being financed. EasyDrive Finance does not provide loans or make lending decisions, so approvals cannot be guaranteed. However, we work with licensed dealerships and finance professionals who review your application and help explore the best available options based on your situation.

Our goal is to help you understand what’s possible, not to make promises we can’t keep.

Applying is simple and fully online. You’ll complete a secure pre-qualification application that asks for basic information about you and your financing goals. Once submitted, your application is reviewed and shared with licensed dealerships or finance professionals who can assess your options. If additional details are needed to continue the review, someone will reach out to guide you through the next steps.

There’s no obligation, and submitting an application does not mean you’re committing to a purchase.

Your interest rate depends on several factors, including your credit profile, income, residency status, and the vehicle being financed. To understand what rates may be available to you, you’ll need to complete a secure pre-qualification application. Once submitted, licensed dealerships or finance professionals review your information and determine the financing terms you may qualify for.

EasyDrive Finance does not set interest rates or make lending decisions, but applying helps give you a clearer picture of what options may be available before you move forward.

Each time you submit a financing application, it will slightly affect your credit score by a few points for a short period of time. Our pre-approval tool is a soft check. We may submit your information to the banks which could be a potential hard check.

Gross income is your total monthly or yearly income before any taxes are deducted. This amount is higher than your “net pay” or “take-home pay.”

Your SIN is not mandatory, although it can help move your application along faster as it allows the bank to pull your credit history more quickly. If you do not enter your SIN, the bank may come back and ask for it if their initial effort at recovering your credit history was unsuccessful.

Yes. Auto loans are open-ended loans that can be paid off before the end of term without penalty, subject to any terms imposed by your lender. 

If you choose to finance your next car, the minimum amount you can borrow is $7,500. If the amount is below this, your lender is not able to finance a contract.

Interest is calculated on a per payment basis. This means that if you pay the loan off early you will not be charged the remaining interest.

Note: If you decide to put extra money down on the loan after you take possession of the car, it will not lower your payment instalments, it will only shorten the length of the term of the loan.

Payments will either be 14 or 30 days after delivery (based on whether you selected biweekly or monthly payments). You can change your payment date by contacting your lender after your first payment

Your loan does not need to come through the same bank as your personal bank account. However, you will need to provide a void cheque or a direct deposit form for the account you want your automatic payments to be withdrawn from. Note: payments cannot come from a credit card account.

Your lender will be able to provide you with the total amount you owe as you pay it down after your first payment, as well as any other details you may require. To pay down your loan, simply contact your bank and provide them with your loan details. This can be done either online or in person at a nearby branch, depending on your financial institution and the remaining balance of the loan.

No problem. If you are bringing over debt from a previous car loan, the original loan will be closed and the remainder owning will carry into the new financing contract.

This is common if you have a previous car payment scheduled to come out a few days before taking possession of your new vehicle and loan. Don't worry! We always tell customers to be prepared for a possible payment to be withdrawn for their previous loan as it can take banks up to 10 business days to clear the previous loan. In the event that a payment is withdrawn, you will be reimbursed by your financial institution via cheque or an electronic transfer.

The minimum amount your lender can lend is $7,500 after taxes. If the amount is below this, lenders cannot finance a contract. Once the vehicle is financed, however, you can immediately put money down on the loan to reduce it to your desired loan amount.

When filling out a finance application, you will need a valid piece of Canadian ID. If you have a co-applicant, you must fill out the section with a co-applicant They must also provide a Canadian ID such as a driver’s licence, passport, citizenship card, or permanent resident card. In some cases, we may require additional information such as proof of income or proof of address.

For newcomers, there are certain lenders that offer programs that may qualify you for financing. Conditions are applicable in these cases. If you have no fixed income, we would also suggest applying for financing with a qualified co-applicant.

Credit approvals usually come back with a decision within 24 hours. However, this can vary based on your credit history and score. If a customer does not have excellent or good credit, approvals can sometimes take longer, during which time the lender may ask for additional information (e.g. proof of income/employment), a qualified co-applicant, cash down payment, etc

In some cases, we can finance customers on work permits. To find out if you’re eligible, fill out our pre-approval application.

Down payments are usually not required. In some cases, however, lenders may require a down payment to approve financing. If you choose to put a down payment, you may pay as much as you’d like as long as the minimum amount financed is $7,500. If the amount is below this, lenders cannot finance a contract.

If you didn’t qualify, consider adding a co-applicant to strengthen your profile and increase the likelihood of approval. You can also contact us at and we’ll guide you through next steps.

We do our best to respond within 24 hours but sometimes it can take a bit longer. Feel free to contact us for the status of your application.