At DRIVEN, we don’t just play the lending game—we’ve mastered it. With deep expertise in automotive financing and a wide network of lenders, we make getting the best rate feel easy. While others are busy selling, we’re busy securing the perfect deal for you.
Our high sales volume gives us access to exclusive rates and terms from our lenders—often better than what you’ll see from competitors. These savings come directly to you, thanks to the strong financial partnerships we’ve cultivated, creating a purchasing experience that’s smoother, faster, and more affordable.
We’ve built strong partnerships with over 20 lenders, each with its own unique risk appetite. Whether you’re a first-time buyer or rebuilding credit, our expertise and these trusted relationships allow us to secure approvals and competitive rates tailored to your specific financial situation.
Traditional banks make car loan financing slow and complicated. We streamline everything, handling all the paperwork and getting you the best rates quickly—no stress, no delays.
Our team brings in-depth knowledge of automotive lending and are Equifax-certified, meaning we’re trained and qualified to provide expert guidance. We’re here to help you understand your credit and make informed decisions every step of the way.
No games, no gimmicks—just transparent pricing. We believe you deserve our best rates right from the start. Our approach to financing is honest and straightforward, so you can focus on finding the right vehicle without any pressure.
Simply Complete our online credit application, and one of our finance experts will promptly contact you to finalize the details. You’ll need a valid driver’s license, and in some cases, proof of income, such as a recent pay stub or bank statements. Our team will then work with over 20 trusted lenders to find the best possible terms tailored to your needs.
If you’re unsure about what you qualify for, simply complete our online credit application. We’ll secure a pre-approval for you and provide details about the terms you’re approved for before you choose a vehicle.
Yes, we partner with some of Canada’s largest lenders who provide financing options for customers across a wide range of credit scores, including those with less-than-perfect credit. Our goal is to help you secure approval regardless of your credit situation.
There isn’t a set minimum credit score for auto loans in Ontario. Each lender evaluates applications differently, considering more than just your credit score. Factors like your credit history, employment, residency status, down payment, application details, and the vehicle you’re purchasing all play a role in determining approval.
Yes, applying for an auto loan results in a “hard inquiry” on your credit report. However, when shopping for an auto loan or mortgage, multiple inquiries within a short time frame are generally treated as one inquiry for credit scoring purposes. While all loan inquiries will appear on your report, only the first one affects your score temporarily.
Interest rates depend on the lender and are influenced by factors like your credit score, loan amount, and term length. Driven ensures that you receive the best rate available from our network of lenders.
A down payment isn’t always necessary, but it can increase your chances of approval and potentially secure better loan terms. A larger down payment also reduces your monthly payments and the total interest paid over the life of the loan.
Yes, some lenders offer programs tailored for newcomers with limited or no Canadian credit history. We can help you explore these options and guide you through the process to secure the financing you need.
If your car’s value is higher than your loan balance, the equity can be used toward your new vehicle. However, if your loan balance exceeds the car’s value, you can either refinance the difference with your new auto loan or settle the shortfall upfront.
Yes, having a co-signer with good credit can increase your chances of loan approval and potentially secure you a lower interest rate. Since the co-signer shares responsibility for the loan, they reduce the lender’s risk, making the terms more favorable for you.
No, there are no penalties for paying off your loan early! All our loans are fully open, allowing you to make extra payments or pay off the balance in full at any time. Interest is calculated only on the outstanding balance, so if you pay off your loan early, you’ll save on interest by paying only up to that point.
Yes, auto loans are reported to credit bureaus and are an excellent way to build your credit when payments are made on time. Your lender will report your payment history, loan balance, and other relevant details. Consistently paying on time can significantly boost your credit score, while missed or late payments may negatively impact it.
Driven does not charge any fees for obtaining financing. However, some lenders may include their own fees, which will be clearly outlined in the financing terms.
In Canada, providing your Social Insurance Number (SIN) when applying for credit isn’t always mandatory. However, lenders may request your SIN if they have difficulty accessing an accurate credit report to verify your financial information.
Most lenders have a minimum loan amount of $7,500 after taxes. With our fully open loans, you can immediately make additional payments to reduce your balance to your preferred loan amount as soon as the loan is registered.
