Car Loans BC | Alternative Lending Platforms for Bad Credit Deptors

July 16, 2021 | Editorial Team

Buying a new car, or maybe your first ever car is an exciting time. But, if you don’t have the money to get your dream car, it can be disheartening. Many Canadians in British Columbia and all over Canada will take out a car loan. However, if you have bad credit, getting a car loan through a traditional lender (see Scotiabank) is out of the question.

Luckily, there are plenty of private lenders in British Columbia that will offer a bad credit car loan. The easiest way to find one is through lending platforms such as Loan Connect and Canada Drives. They feature in all our reviews from different parts of Canada, namely Edmonton, Ottawa, Toronto, Calgary, and also Ontario. If you want more information on the two platforms, keep reading!

Car Loans BC Reviews

Loan Connect

The first lending platform we’re going to look at, BC, is Loan Connect. Loan Connect is a lending platform as you can search for a variety of lenders on it after adding your personal information and information about your vehicle. Lenders on the platform offer bad credit car loans, so if you have been rejected by the bank before, this may be a better option for you.

An auto loan is not the only thing you can get on this platform. Loans for debt consolidation, tuition, emergencies, and more are also available, so it is a one-stop shop for all your financial needs. Let’s look at some more of the pros and cons of finding bad credit car loans through Loan Connect.


  • There are 12 different types of loans from a variety of lenders.
  • Terms vary and are based on your needs. You can choose from 6 months to 60 months.
  • Interest rates start low at 4.6%, depending on your credit score.
  • Eligibility requirements are not as strict compared to banks. You must be a Canadian citizen and be the age of majority in your province or territory to get approved.
  • You can have debt and still get approved for a bad credit car loan if it is less than 60% of your income.
  • Filling out an application and using the lending platform is completely free, and you are not obligated to choose any of the lenders offered to you.


  • The worse your credit score is, the higher your interest rate will be.
  • If you have debt that totals more than 60% of your income, you will not be approved for a bad credit car loan.
  • The maximum loan available is $50,000. If your car is more than this, you may have to look for other options.

Canada Drives

If you want a lending platform that focuses more on car loans, specifically, Canada Drives is a great option. Canada Drives is a BC-based company that has been around since 2010. They help Canadians, even those with a bad credit history, get approved for a car loan from one of their lenders.

Canada Drives has now helped more than 1 million Canadians in British Columbia and surrounding areas get approved for an auto loan. Do you want to be one of them? Keep reading to find out some pros and cons of Canada Drives.


  • They have car loan calculators available for free for you to see what your financing options could be.
  • If you decide you want to apply after using the loan for car calculator, you can complete the application within three minutes.
  • Following your approval, you could receive your car loan within 48 hours, bringing you a step closer to a new car.
  • Your interest rate could start low if you have good credit.
  • The maximum amount available is $75,000 for terms of 12 to 98 months.
  • You can choose from weekly, bi-weekly, or monthly repayments.
  • Those with bad credit can still get approved for a car loan with Canada Drives.
  • If you put down a bigger down payment, you will get a better rate for your car loan.
  • Paying off your loans on time could help raise your credit score.


  • If you have bad credit, you could be paying up to 46.96% in interest rates.
  • Car loans tend to range from $500 to $35,000 on Canada Drives, depending on the term length. If you need a bigger loan, Canada Drives may not be an option.
  • You will be limited to certain lenders if you have bad credit.

The Bottom Line

Your credit score doesn’t have to hold you back from getting the car of your dreams, BC. Loan Connect and Canada Drives can help you find the perfect lender for free. You simply need to fill out an application on either website (or both for more options) to see what lenders are available to you in British Columbia.

Terms and conditions among private lenders vary a lot. Just ensure that you are fully aware of your terms and pay your loans on time, British Columbia. You don’t want your credit rating to go down even more. Head over to either lending platform now to be one step closer to driving your dream car, BC!