Living in Winnipeg means there’s no doubt you’ll need a strong set of wheels to get around every day. That makes finding the right car loan for you even more of a necessity, and we’ve got you covered with a comparative review of auto lending platforms and dealerships available in your city.Below we’ve covered five car loan options in Winnipeg, plus some extra tips to help ensure you land the loan that ticks all your boxes.1. CarsFast
Customer Survey: methodology.” title=”” data-original-title=”More info” tabindex=”0″>
★★★★★
Go to site
Read review
$500 – $75,000
Loan Amount
How they help: CarsFast is an online car lending platform that allows you to access a network of lenders and dealerships available in Winnipeg through a single loan application. With a simple online application, you’ll be matched with the most suitable lenders for you.APR: 3.90% – 29.90%Loan amount: $500 – $75,000Loan term: 12 – 96 monthsEligibility requirements: $2,000/monthAccepts bad credit: Yes
Pre-qualify for a loan in minutes
Options for bad credit or consumer proposals
See multiple financing options at once
No loans for boats, ATVs or motorcycles
Bad credit rates are high
Loan amount
$500 – $75,000
APR
3.9% – 29.9%
Term
12 – 96 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
Varies by lender, loan type and province
Turnaround Time
Get pre-approved in less than 60 seconds.
Serviced Provinces
All provinces
What do people have to say about CarsFast?There are few online reviews for CarsFast, but its website is owned and operated by LendingArch, which has received largely positive reviews online. While customers praise LendingArch for simplifying the online loan application process, some criticize the company’s customer service.Better Business Bureau reviews and ratingN/ATrustpilot reviewsN/AGoogle reviewsN/A2. Loans Canada
Customer Survey: methodology.” title=”” data-original-title=”More info” tabindex=”0″>
★★★★★
Go to site
Read review
$500 – $50,000
Loan Amount
How they help: Loans Canada is one of the nation’s biggest loan comparison websites—and also its oldest. You’ll have access to a large loan network with the ability to compare offers from multiple lenders, including options for good and bad credit loans.APR: 0% – 46.96%. Loan amount: $500 – $50,000Loan term: 3 – 60 monthsEligibility requirements: Must have stable employment and a monthly income of at least $1,800Accepts bad credit: Yes
Good and bad credit options
Largest lending network
Rates start at 6.99%
Not a direct lender
Bad credit rates are high
Watch for scammers posing as Loans Canada
Loan amount
$500 – $50,000
APR
0% – 46.96%
Term
3 – 60 months
Interest Rate Type
Fixed
Min. Credit Score
300
Fees
Varies by lender
Turnaround Time
Varies
Serviced Provinces
All provinces and territories
What do people have to say about Loans Canada?Customers often mention the simple, user-friendly application and loan comparison process with Loans Canada. There are some negative reviews referring to scammers impersonating Loans Canada, and the BBB also carries a warning to this effect. Overall, users enjoy the process of applying for a loan with Loans Canada.Better Business Bureau reviews and rating0 reviews, A+ ratingTrustpilot reviews3/5 stars based on 3 reviewsGoogle reviews4.1/5 based on 84 reviews
3. Birchwood Credit
Not yet rated
$50,000 – $5,000
Loan Amount
How they help: Birchwood specializes in providing flexible car loan options, particularly for individuals with bad credit or little to no credit history. With the largest network of car lenders in Winnipeg, Birchwood offers tailored financing solutions that can help customers build credit while driving a new car.APR: N/ALoan amount: $5,000 – $50,000Loan term: 1 – 8 yearsEligibility requirements: Have a valid driver’s licence, be a resident of Canada and have an income of at least $1,500 per month.Accepts bad credit: Yes
Bad credit options
Access to a large network of lenders
Several financing methods available
Rates may be high for bad credit loans
No fees or rates displayed online
Loan amount
$50,000 – $5,000
APR
N/A
Term
1 – 8 years
Interest Rate Type
Fixed
Turnaround Time
within 24 to 48 hours
What do people have to say about Birchwood Credit?Customers generally consider Birchwood to be a good option for bad credit car loans. There are mentions of high interest rates, but that’s unavoidable if you’re looking for a car loan with bad credit or little to no credit history. Other customers have noted Birchwood’s positive customer service and general reliability when it comes to bad credit lending options.Better Business Bureau reviews and rating1/5 based on 1 review, not accreditedTrustpilot reviewsN/AGoogle reviews4.3/5 based on 89 reviews
4. I Love Financing
Not yet rated
How they help: I Love Financing offers customers a wide range of loan options, including personal, business and auto loans. The company works with a network of reputable lenders in Winnipeg to provide competitive rates and terms, with a streamlined application process and a strong commitment to customer satisfaction.APR: N/ALoan amount: N/ALoan term: N/AEligibility requirements: N/AAccepts bad credit: Yes
Excellent customer service ratings
Options for bad credit
Online pre-approval
No rates or terms online
Not a direct lender
Loan amount
N/A
APR
N/A
Term
Interest Rate Type
Fixed
What do people have to say about I Love Financing?People generally appreciate I Love Financing for its quick and easy application process and ability to cater to various credit profiles, including those with bad credit. Customers have noted the helpful and enthusiastic customer service, however some reviews highlight the importance of understanding the terms and conditions in order to avoid unexpected costs.Better Business Bureau reviews and rating0 reviews, not accreditedTrustpilot reviews4.8/5 based on 86 reviewsGoogle reviews5.0/5 based on 117 reviews5. Epic Financial
Not yet rated
How they help: Epic Financial provides comprehensive financial services, including personal, business and auto loans. Epic works with a wide array of lenders, offering you the chance to choose from a variety of loan terms and rates to find the best fit for you and get you on the road as soon as possible.APR: N/ALoan amount: N/ALoan term: N/AEligibility requirements: N/AAccepts bad credit: Yes
Low credit options
Lender matching
Flexible financing
Some negative online reviews
No rates or terms online
Loan amount
N/A
APR
N/A
Term
Interest Rate Type
Fixed
What do people have to say about Epic Financial?According to reviews on Google, Epic Financial often provides high quality customer service, offering competitive auto financing options for those who would otherwise struggle to find a loan. There are some negative reviews, however, which mention a lack of customer service. There are few reviews available elsewhere for Epic Financial.Better Business Bureau reviews and rating5/5 based on 1 review, not accreditedTrustpilot reviewsN/AGoogle reviews4.8/5 based on 130 reviewsHow to find the best car loans in WinnipegFinding the best car loan might take some time, but it doesn’t have to feel like a struggle. Follow these steps to make your search for the best car loan in Winnipeg a breeze:Assess your credit. You’ll want to start by reviewing and understanding your credit score and your credit report itself. Your current credit standing will be a major factor in deciding which kind of loan terms and interest rates are available to you.Set your budget. Along with your credit score, building a budget for your new car loan is an essential piece. Figure out how much you can afford to borrow and repay comfortably each month considering your income and expenses.Compare loan options. Using a car loan brokerage platform is a great way to start assessing your loan options, as you can access several financing options from one application. Taking your time to research all your lending options will help ensure you find the best deal available.Check for special offers. There may be lenders, whether it’s a dealership, bank or credit union, that have special offers or rates available to you. Look out for any promotions that could be of benefit.Read the fine print. Don’t take advertised rates for granted, and make sure you read the fine print before signing any loan agreement. Look for details around rates, repayment schedules and extra fees or penalties.Bottom lineIf you’re looking for a competitive car loan in Winnipeg, you’ve got plenty of routes to take. Using an online brokerage to compare multiple lenders through a single application is a great way to assess your options. The more time you can take to compare offers, the better placed you’ll be to find the right car loan for you.Frequently asked questions
Thank you for your feedback!
Steven Brennan is a freelance finance writer working from Vancouver, B.C. He has a BA and an MA in English Literature at the University of Ireland, Maynooth, and also spent time working in Italy and Vietnam as an English teacher. Today, he writes regularly on a range of personal finance topics including banking, loans, mortgages, insurance and tax. His work has appeared on sites such as LowestRates.ca and WealthRocket, as well as in print with Canadian MoneySaver. See full bio
