3 Best Car Loans Calgary Reviews in 2021 | Find the Rates That Fit Your Budget

May 29, 2021 | Editorial Team

Car Loans

Are you in the market for a new vehicle in Calgary, AB? You may need a car loan to help make that possible. Many Canadians believe if you have bad credit, you will not be able to get a loan, car or otherwise. Thankfully, that’s not the case!

There are plenty of car loan companies willing to lend to those, even with a bad credit rating. The only catch is your interest rate may be a little higher. If you want to find out more about the best bad credit loan companies in SE Calgary and NE Calgary, AB, keep reading!


If you want to look at multiple bad credit car loans simultaneously, LoanConnect is a great option. LoanConnect is a loan search engine that can help Canadians find the best car loan in Calgary. As they work with multiple lenders (see Scotiabank), they can easily get Canadians with a bad credit score a loan.

To apply for a car loan with LoanConnect, you must be a Canadian citizen and the age of majority in Calgary, Alberta. You can have current debt and still get approved. But, that debt has to be less than 60% of your income.

Finding a bad credit car loan with LoanConnect is super easy, free and quick. The application process should only take five minutes.

To apply, you will need to supply LoanConnect with your personal and financial information. You will also need to choose a loan type. LoanConnect has a variety of car loans, debt consolidation loans, and more.

LoanConnect will provide you with lenders that meet your needs. You can choose one and then apply for your bad credit car loan with them. If you are approved, you can get your money in less than 12 hours! You are not obligated to take a loan from any lenders they suggest, so no pressure. Why not get a free, personalized quote with LoanConnect today?

Car Loans Canada

If you’re looking for a different company that partners with dealers, Car Loans Canada is a good option. They have a good repertoire of partners, and they have been around for over a decade. They are also present in every part of Canada, which is evident from our other car loan reviews, namely in Edmonton, Ottawa, Toronto, and also Ontario and BC.

Their eligibility requirements, however, are a little stricter. Along with being Canadian, having a license, and being the age of majority in Calgary, AB, you must have a monthly income of $1,800 minimum. You must also have been employed for the last three months. They will also conduct a credit check. You can still get approved if your credit rating is low, but your interest rate will likely be higher as a consequence. Thankfully, you can always use a car loan calculator to estimate your payments.

If you meet all of their eligibility requirements, you can apply for a bad credit car loan on their website. All you need to do is fill out your personal and financial information. A dealer partner will then contact you to discuss your bad credit loan in detail. Afterwards, they will give you a list of lenders that meet your specific needs.

Car Loans Canada doesn’t service Quebec or the territories. But if you are in Calgary, Alberta, it doesn’t hurt to reach out!

Canada Drives

Last up is Canada Drives, another loan search engine. Canada Drives, however, connects Canadians with dealers who can offer them bad credit car loans.

Your bad or poor credit score does not matter to Canada Drives as long as you meet their eligibility requirements. As with most car loan companies in Canada, you need to be Canadian and the age of majority in Calgary, AB. With Canada Drives, you need to have a minimum income of $1,500 and employment for the last three months.

If you have poor credit but are eligible, applying is easy and is all done online. Instead of picking a loan type, you need to pick a type of car. This is so Canada Drives will only show you their dealer partners that have that car in stock. After you fill in your personal and financial information, Canada Drives will connect you with a certified dealer who will call you to discuss your car loan.

Once the dealer approves you and you agree to their terms, they could send your new vehicle in less than 48 hours!

The Bottom Line

Many people are not able to afford a vehicle without a little help. Taking out a car loan is normal in Calgary, Medicine Hat, and the rest of Canada. Even if you have bad credit, this is still an option for you, especially with the three companies we discussed.

If you are looking for more information on any of the poor credit loan companies we discussed, look for the ‘contact us’ section on their respective websites.

Don’t let bad credit hold you back. Apply for a poor credit car loan or apply for a free quote to help you decide, Calgary! Go out and get your dream vehicle today, regardless of your credit rating.