A lot of Canadians email or call us each month and ask if it’s possible to refinance their auto loan through Canada Drives’ programs
While there are always exceptions, typically we can’t refinance your current vehicle. That being said something to strongly consider is what options may exist if you trade in your vehicle:
Why trading in your vehicle may be the best option:
We are really good at helping customers get out of the current vehicles that they are making high interest payments on (typically takes having the vehicle at least 9 months) and getting them approved on a newer, nicer vehicle with lower interest.
You get rewarded for your good repayment history, so if you’ve been making payments on your current vehicle, then chances are you will continue to on your next vehicle you purchase.
So…. Although you may not be able to refinance your current auto loan, you may be able to get a nicer vehicle, at a lower payment and a lower interest rate and that’s something we think is work having a look at!