Most Common Questions about Auto Loans in Canada

This FAQ answers many of the credit and auto loan questions we get. If you have any questions, please contact us.

Why Choose Next Day Car Loans?

We will do our best to secure you a loan that suits your needs.

Next Day Car Loans was founded by auto loan specialists with decades of industry experience.

What is the time frame?

We will contact you usually within 7 hours after you submit your application. We guarantee that all calls will be returned within 24 hours

What information are you looking for?

After we receive your application, you will be asked to scan it and email or fax it in: Driver’s License Evidence of income (pay slips and/or bank statements) – for at least three months. Your current address.

Now that I have been pre-approved, what do I do?

You will be able to buy your vehicle at one of our many dealers across the country if you have your approval papers.

What is the minimum down payment I will need?

Although you don’t have to make a down payment to get started, it can help you move along the process and will save you interest.

What about car insurance?

Before you can drive off the lot, your lender will require that you have auto insurance. It is also required by law in BC. This is usually done at the dealership.

What is a loan?

A loan is money that a bank or financial institution lends to you, such as to buy a vehicle. Please visit our page on loans for more information.

It's possible that I have poor credit!

No matter what, we are here for you. Our lenders are experts in bad credit loans and no credit loans. We can help you improve your credit score.

What interest rates are you offering?

Lenders determine interest rates and they are determined by many factors. These factors include the amount and term of the loan, as well as the approval each applicant is eligible for. We will do our best to find you the best rate while still meeting your financial and auto needs.