Our lenders compete for your loan to ensure that you get the best rate possible.
Our lending partners offer prime and subprime loans. We’re able to secure loans for all types of credit.
Find your approved rate before you decide to purchase a car with our free approval.
Our lenders compete for your loan to ensure that you get the best rate.
Start your application on any vehicle's detail page by clicking "Apply for financing"
You'll get a competitive offer from at least one of our lending partners
Schedule a test drive. If you like the car, we'll give you the keys
Or speak with Clutch about applying now (902) 400-3636
Applying is a quick and painless process. Click the financing tab and follow the onscreen directions. After you’ve completed your application, we send it to our credit team who will review and be in touch if there is any more information required before we submit it to the bank.
Clutch does not control interest rates. It is up to the bank to decide what interest rate you qualify for, which will depend on your credit history. While the age and term of the loan factor into the rate, generally, if you have good credit and sufficient income, you can expect prime rates to be between 4.99% - 7%. There is no way to guarantee an interest rate without submitting a credit application to the bank.
Each time you submit a credit application, it will slightly affect your credit score by a few points for a short period.
Gross income should be your total monthly or yearly income before any taxes are deducted. This amount is higher than your ‘net pay’ or ‘take home’ pay.
If you are paying a mortgage please select ‘buying home’ and input your mortgage amount without property tax.
Your SIN is not mandatory; however, it can help with a faster approval. It allows the bank to pull your credit history more efficiently. Often, if you do not enter your SIN, the bank may come back and ask for it since their initial pull might not be able to locate your credit history.
Auto loans are ‘open-ended’ loans that can be paid off at any time without penalty. You are also free to put as much down on the loan as you’d like.
You can also call the bank and ask them to increase your payments to any amount to pay off your loan faster. However, you are not able to have your payments reduced.
Interest is calculated on a per payment basis. This means if you pay the loan off early you will not be charged the remaining interest. For example, if you are on a 60 month loan and you pay it off in full at 36 months, you would save 3 years worth of interest.
Note: If you decide to place extra money down on the loan after you take possession of the car, it will not lower your payment, it will shorten the length of the term of the loan.
You can decide on payment dates before the paperwork is signed. You can pick almost any day you’d like - some people prefer to have it after payday.
For bi-weekly payments, standard bank parameters state that your first payment must be at least 14 days from your contract date, but no more than 21 days.
For monthly payments, the first payment must be 30 days from your contract date and can be moved up to 45 days from first contract date.
You also have the flexibility to call the bank that your loan is through and have them change the payment date (after your first payment comes out).
Your loan does not need to be through the same bank as your personal bank account. 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: You cannot have payments come from a credit card account.
If your personal banking and auto loan are with different banks, you can call the bank that the loan is with and have them transfer money over the phone. The bank is also able to provide the payout amount and any other details you may require over the phone.
If your personal banking is through the same bank as the auto loan, you will be able to view the loan through your online banking portal and pay it down online.
If you are bringing over debt from a previous car loan onto your new loan, it will be rolled into the total amount financed and added to your payments. When your new loan is paid off, it will also pay off your previous loan amount.
When you bring over previous debt, we as the dealer will pay off the total amount of your previous car loan. You will not have anymore payments withdrawn from that loan. The remaining balance is added to your new loan.
This is common if you have a previous car payment scheduled to come out within a few days of taking possession of your new vehicle and loan. Do not be alarmed! 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 pay off the previous loan once the cheque is received.
If a payment does come out, you will be reimbursed. Once the bank receives the funds, they will be ‘overfunded’, whereby the difference will be deposited back into your account.
The minimum amount a bank can finance is $7,500 after taxes. If the amount is below this, banks are not able to finance a contract. However, after the vehicle is financed, you can put money down on the loan.
The PPSA fee is a fee that is imposed by the bank, not Clutch. It is the bank’s registration fee for the contract. The amount varies depending on the bank and the term of the loan - it usually ranges from $55 - $170.
When we bring the vehicle and contract out to your home, the following items are required: