canada drives review brand logo-comparewise

Find your dream car and get competitive car financing rates in one place - Claim this offer

Canada Drives Review 2022

  • Vehicles delivered fast
  • Convenient, online process
  • Car financing available

Find your dream car and get competitive car financing rates in one place - Claim this offer

This Canada Drives Review explores all you need to know about this car dealership and auto financing company. Getting the best deals on pre-owned vehicles can seem daunting, especially with a low credit score. Luckily, auto financers like Canada Drives can help you finance your next vehicle with ease.

Read our Canada Drives review & discover the pros, cons, pricing, customer service, & more about this prominent auto financing dealership.

Founded in 2010, Canada Drives is a Canadian auto financing company based in Vancouver. The company prides itself as Canada’s largest 100% online used car dealer. They offer a wide selection of pre-owned cars for sale at competitive prices. They also help car owners find the best financing options available by providing flexible loan terms and rates.

This Canada Drives review will help you find more information about this car dealer, including its services, payment methods, hours of operation, contact information, etc. It also includes details on their pricing, customer service, special offers, and other vital information to help you make an informed decision.

What Makes Canada Drives a Good Option?

Before going deep into our Canada Drives review, it’s important to note what makes them a good option for those looking to buy or finance a pre-owned vehicle. First off, they are one of the most trusted names in the industry. They’ve partnered with over 350 car dealerships, making them one of the most prominent players in the market. It has made a name by providing customers with reliable, high-quality products at reasonable prices.

Here are some additional reasons why Canada Drives is a great choice:

100% Online Shopping

With Canada Drives, you can shop for any type of used vehicle without ever having to leave home. You can browse through thousands of listings from dealerships around the country. Simply go through their inventory page and choose the model, year, colour, trim level, and features you want. Then, click “add to cart” to place the vehicle in your cart. This ensures buyers have the best online shopping experience possible.

Transparent Pricing Model

Another reason why Canada Drives is so popular among consumers is because of how transparent its pricing model is. Unlike many other companies, they don’t charge hidden fees or mark up the price of the vehicle. Instead, what you see on the inventory page is what you’ll pay for your car. As such, you won’t be surprised by any extra charges after completing your purchase.

Easy Financing Process

Financing a new or pre-owned vehicle isn’t always easy. Many different factors come into play, including your credit score, down payment amount, etc. But with Canada Drives, things become simpler. They work with different dealerships to find the best possible loan option for you.

Once you get approved, you can start browsing through the inventory of vehicles they have available. Since you do everything online, from application to final purchase, there’s no need to wait days or weeks for approval. Furthermore, it caters to all credit scores, allowing everyone to take advantage of its services.

Door-step Delivery

Besides allowing car buyers to shop conveniently from the comfort of their own homes, Canada Drives also provides door-to-door delivery services. Car buyers don’t have to worry about getting stuck waiting for the vehicle to arrive since it comes directly to their house.

7-Day Refund Policy

Another striking feature worth mentioning in our Canada Drives Review is the company’s 7-day refund policy. If you decide not to buy after viewing the inventory, you can simply return the vehicle within seven days. The company will then refund your payment, no questions asked.

Vehicle Trade-Ins

Canada Drives also allow you to trade in your current vehicle for cash. The dealership will evaluate your vehicle within seven days of receiving it. If they determine it’s still in good condition, they will offer you a fair value.

The benefit to this is that you can do all these without leaving your home. Just head to the Canada Drives website to complete the process, and they’ll come to pick up the vehicle from your house.

Car Delivered By Canada Drives - Comparewise

Pros and Cons of Canada Drives

This section of our Canada Drives review highlights the pros and cons of using this service. We hope these points help you decide when choosing whether to use the service or not.

Pros of Canada DrivesCons of Canada Drives
⚡ Quick & Easy Financing
💸 Free Service
🚗 Large Inventory
🔍 Fully-Inspected Vehicles
💨 Fast Delivery
🤷 Not available everywhere
💰 High prices
🚙 Only used cars

The Pros of Canada Drives

Here’s the best things we found in this Canada Drives review.

Quick and Easy Financing

The most appealing aspect of Canada Drives is its quick and simple financing process. After applying for financing, you can expect to receive an offer within the shortest time. And even though you might have bad credit, you can still qualify for the loan.

Free Service

One of the biggest perks of using Canada Drives is that it doesn’t charge you to process your loan. This ensures you won’t incur any additional costs when looking to fund your new purchase.

Large Inventory

If you need a specific vehicle type, the chances are that Canada Drives has it. Their partnership with over 350 dealerships means that you can browse through thousands of cars in one place. Additionally, you can filter your results based on the features you want, like engine size, transmission, etc.

Fully-Inspected Vehicles

When you choose Canada Drives as your auto dealer, you can rest assured. Their trained technicians will inspect every pre-owned vehicle they sell. They’ll check out each vehicle’s exterior, interior, and undercarriage before putting it up for sale.

Fast Delivery

Since Canada Drives offers door-to-door shipping, you can rest easy knowing that your vehicle will get to you in 48 hours, depending on location and financing. You don’t have to waste any more time driving around town trying to locate a vehicle that fits your needs.

No-Charge Warranty

In addition to its 7-day refund policy, any certified vehicle you purchase from Canada Drives comes with a 30-day no-charge warranty. This covers all parts and labour for that period. So, if anything goes wrong, just contact the customer care team, and they’ll take care of everything.

The Cons of Canada Drives

Here’s what users thought could be improved about the Canada Drives experience.

Not available in all provinces

While we appreciate the many benefits already listed in this Canada Drives Review, some drawbacks are associated with using the service. First off, the company only operates in some areas of Canada. For example, they’re only available in Ontario, Alberta, British Columbia, and Saskatchewan.

Overpriced

Based on some users’ reviews, their prices seem relatively high compared to what you’d purchase at other dealerships.

Only Used Cars are Available

If you want to get a new vehicle, Canada Drives is not the best option. They only keep an inventory of used cars. However, if you’re looking to trade in your current car or purchase pre-owned vehicles, then this could work for you.

Limited to Affiliated Dealerships

Another downside of using Canada Drives involves their affiliation with over 350 dealership partners. While this sounds great, it does mean that you might not get the best possible deal since you’re working with only a handful of dealerships.

You might also not get the most desired loan rate if you find a lender offering better rates but isn’t affiliated with Canada Drives.

Higher Interest Rates for Bad Credit

It’s important to note that you could face higher interest rates than you would at other dealerships if you have bad credit. The company’s website doesn’t offer much information about calculating interest rates, so you should always compare them against other lenders.

Potential for Additional Fees

While Canada Drives doesn’t charge additional fees for using its financing program, you might incur extra costs based on the lender you select.

Canada Drives Review Online App - Comparewise

Canada Drives Products and Services

We’ll continue our Canada Drives review by highlighting the products and services it offers. These include:

  • Online car shopping
  • To-your-door delivery services
  • Trade-ins
  • Auto loan financing

Online Car Shopping

Canada Drives provides customers with access to over 1800 vehicles online. It’s very convenient because you can browse through different models, colours, and trim levels without ever stepping out of your home. You also complete your paperwork online without leaving your house, eliminating the stress of driving to a dealer and waiting in line.

To-Your-Door Delivery Service

Another service Canada Drives offers is to-your-door delivery. Once you’ve paid for your vehicle, you can schedule a time when one of their drivers will bring your vehicle straight to your door. It’s a hassle-free way to receive your new car since you don’t need to worry about parking or traffic congestion.

Trade-Ins

If you’re tired of your old car and want to sell it or get a newer model, you can take advantage of Canada Drives’ trade-in program. This allows you to turn in your car and receive cashback instead of selling it yourself. You can use the money to purchase a new vehicle from Canada Drives. It also allows you to avoid paying sales tax and registration fees.

There’s a form on their website where you’ll fill in details of your current vehicle’s condition, and they’ll provide you with a quick trade-in value. After that, you can either collect cash via direct deposit into your bank account or apply it toward buying a new vehicle. After you accept the trade-in value, you’ll be able to schedule a pickup date and time.

Auto Loan Financing

Financing a new car is never easy. Several factors help determine the cost of a car loan, including your credit score, down payment amount, and monthly payments. You can always count on Canada Drives to provide you with an affordable auto loan. They offer competitive rates and flexible terms, which means you can pay off your loan as quickly as possible.

You should note here that Canada Drives doesn’t provide these loans directly to consumers. Instead, they partner with banks that issue the loans. However, they ensure that all borrowers qualify for the best rate available, irrespective of their credit score.

Also, remember that this is only an option as they also allow you to finance your purchase using your bank.

Canada-Drives-Banner-Comparewise

Canada Drives Product and Service Quality

We can’t complete our Canada Drives review without discussing the quality of their products and services. We’ll start by looking at how satisfied their customers were after receiving their product or service.

Customer Satisfaction Rating

Based on customer reviews, Canada Drives has an overall satisfaction rating of 4.4 out of 5 stars. This shows that most people who received their product or service were happy with what they got.

This rating is based on over 3200 reviews submitted by customers on TrustPilot, so you know you will have a good experience if you decide to buy a vehicle from them.

The next thing we looked at was whether or not the company had any complaints filed against them. If there are any issues, you won’t be able to trust them. Luckily, Canada Drives didn’t have any complaints against them, but they did have some negative feedback.

Customer support

Another aspect of customer satisfaction we considered is the level of customer support provided by the company. Since Canada Drives provides financing, you may need to contact them regarding anything related to your loan.

You can get to them via emails, live chat, phone calls, and social media platforms like Facebook and Twitter. Overall, most customers found their customer support to be friendly and helpful.

Safety & Quality Assurance

Another important aspect of consumer protection is ensuring that the products and services offered by companies are safe and reliable. According to their website, each listed pre-owned vehicle goes through a rigorous 150-point inspection before being sold.

They also perform a thorough safety check on every vehicle before selling it. In addition to that, their cars also come with a CARFAX Vehicle History Report. These things help ensure that you get a safe and reliable vehicle when you buy one from Canada Drives.

Partnerships & Awards

We also checked to see if Canada Drives has any partnerships with other companies. In addition to their 350 + lenders, they also work with other brands across Canada.

In fact, they’re the official used car retailer of the CFL (Canadian Football League). They also received the award for the best-priced dealer in 2021 from AutoTrader.ca.

How to Get Started with Canada Drives

Now that you’ve learned everything about Canada Drives, let’s look at how you can use their services. Canada Drives makes it easy for you to find a great deal on a pre-owned vehicle. We will divide this part of our Canada Drives Review into three.

  • Purchasing a pre-owned vehicle
  • Getting an auto loan
  • Trading in your old car

Purchasing a Pre-owned Vehicle

The entire process of buying a car is done online. Simply visit their inventory and browse through the list of available cars. You can filter based on location, lifestyle, vehicle type, price range, etc. Once you find a car you want, you can click on it to view additional information such as pictures, specs, mileage, and CARFAX report.

Once you’re satisfied with the car’s details, you can proceed to the payment page. You’ll see the vehicle price here, excluding the delivery fee and extra warranty. Once you choose your delivery address and pick a reasonable warranty period, they will add the prices to the overall cost.

Here, you’ll also see the different financing methods. You can decide to pay in full, make a down payment, use their financing service or add a trade-in. You’ll need to create an account or log in to your existing one to complete your order. Then upload your driver’s license, set up your delivery address, and proceed to the final checkout page.

Depending on where you stay, delivery usually takes between 24 and 48 hours. Once delivered, you can complete your payment via cash, debit card, credit card, draft, or e-transfer if you choose the down payment option during the purchase process.

Getting an Auto Loan

If you want to change or get a new car but don’t have enough money, your next best option is to secure an auto loan. The good thing about getting a loan is that you can finance almost anything. That includes purchasing a used car.

You can use Canada Drives’ financing service to get a hassle-free loan to fund your next purchase. Canada Drives auto loan pre-approval service allows you to apply for a loan of up to $100,000 without filling out lengthy forms.

Getting Canada Drives’ auto loan involves submitting a credit application which usually takes ten minutes to complete. It includes filling in your credit rating. People with bad credits can also apply since it caters to all types of credit scores.

After that, you’ll fill in your personal information, including name, date of birth, and current address. They’ll also ask for your employment information. Upon pre-approval, you’ll get personalized terms that suit your current financial situation.

The interest rate for this loan varies according to your credit score and ranges between 3.99% and 30%. Furthermore, the term is usually from 24 to 96 months.

Eligibility Requirements

To fully access Canada Drives auto loans, you must meet specific requirements. These include:

  • Having a valid Canadian driver’s license
  • You must have your proof of income (Paystub)
  • Be a permanent Canadian resident
  • Tender proof of your permanent home address and active account number
  • Must be above the age of 18

Trading in Your Old Car

Another essential service we must highlight in this Canada Drives review is how to trade in your old car. You can either trade in your current car for cash or use it as a down payment for a new car. Note that they only accept vehicles that are 2009 or newer, so make sure you check the model year before trading in.

Fill in your vehicle identification number on the space provided and click “Get My Offer.” You’ll then complete a form detailing your vehicle’s current state. Canada Drives uses the Canadian Blackbook, your vehicle condition, and location to determine the best value.

Upon receiving your offer, you have seven days to accept or decline it. Once accepted, they’ll come to pick up your vehicle within 48 hours and send a payment via ETF.

Canada Drives Car Delivery - Comparewise

Alternatives to Canada Drives

If you don’t see Canada Drives as a good fit, there are other options available. Here are some alternatives you might consider:

Car Loans 411

Regarded as the most helpful company for Canadians seeking car loans, Car Loans 411 offers competitive rates and flexible repayment plans. Like Canada Drives, all the process is done online. , Plus, their services are free of charge, and their website is easy to navigate.

Unlike Canada Drives, the company partners with different lenders and dealerships across the country, allowing you can easily find one that fits your credit profile. Their loan duration ranges from 12 to 84 months, and interest rates are calculated based on each application. Furthermore, most loans do not require a down payment, ensuring that everyone has an opportunity to qualify.

Overall, Car Loans 411 is your next best option if you’re looking for a quick and hassle-free car loan. However, your credit score must be above 500 to qualify for their loans. In contrast, Canada Drives accepts applicants regardless of their credit history.

Another downside to using Car Loans 411 is that the amount loanable doesn’t exceed $40,000, so if you need more money, you may want to look elsewhere. They also don’t accept trade-ins which means you won’t get any extra money by trading in your old car.

Coast Capital

Another great option worth mentioning in our Canada Drives review is Coast Capital. This company provides an extensive range of financial solutions, including auto loans. Unlike Canada Drives, Coast Capital does not offer a pre-approved car loan. Still, it provides a customized solution based on your needs.

One benefit of using Coast Capital is that there’s no fixed cap on the amount you can borrow. Your income and assets determine the maximum loan amount. In addition, Coast Capital allows you to choose from various loan terms ranging from 12 to 72 months, with interest rates starting at 4.99%.

However, unlike Canada Drives, Coast capital requires a minimum credit score of 500, making them less accessible to those who have bad credit.

Car Loans Canada

A third alternative is Car Loans Canada. Like Canada Drives, this company offers an entirely online experience where they will take care of everything from start to finish.

The only difference between Car Loans Canada and Canada Drives is that the former doesn’t require any down payment, making the company ideal for people with poor credit scores. Another advantage of using Car Loans Canada is that they allow borrowers to pay up their loans however they choose. For example, you could make monthly payments or pay off the entire balance in one lump sum.

They offer various payment options, including monthly, semi-monthly, bi-weekly, or weekly. Furthermore, the interest rate starts at 3.99% on approved credit.

Canada Drives Review Conclusion

Canada Drives might be your top choice if you want to get a certified pre-owned vehicle or access an auto loan without stress. Thanks to its fully-online service offering, it provides ease of use. And it offers competitive loan amounts and flexible repayment plans.

You can get pre-approved in less than 24 hours and start shopping for your dream car. Furthermore, they allow you to trade in your current vehicle for cash or a down payment for a new one. Their inventory of certified pre-owned vehicles is second to none. Overall, Canada Drives is your next best bet if you’re looking for easy financing. Thanks for checking out our Canada Drives review.

You might also like…

Top offers this month

Get a $20 Welcome Bonus

Discover Investment Opportunities

Make your money do more.

12 Results

Advertiser disclosure

Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

Get $20 CAD of BTC with promo code: COMPAREWISE
Min Investment
$100
Target Return
4-7%
Get up to $5,000 cashback on Canada's #1 trading platform.
Min Investment
$100
Target Return
Varied
Trace crypto on Nexo and earn up to 20% APR
Min Investment
$1
Target Return
Up to 12%
Crypto exchange starting with just $10
Min Investment
$1
Target Return
Varied
Trade 150+ cryptos plus use your crypto for purchases
Min Investment
$1
Target Return
Varied
Buy and sell shares in best-selling paintings
Min Investment
$15,000
Target Return
10-25%
Connect with you fave music & own shares of songs
Min Investment
$1
Target Return
Varied
Earn Up to 17% on your crypto and borrow USD
Min Investment
$1
Target Return
2-18%
Earn rewards when you buy and sell crypto on BlockFi
Min Investment
$1
Target Return
Up to 8.6%
Make, buy, and sell digital art NFT's using Ethereum
Min Investment
$1
Target Return
Varied
A marketplace for small and local business investment
Min Investment
$100
Target Return
10-15%
Online real estate investment in one platform
Min Investment
$25,000
Target Return
9-24%

FAQs about our Canada Drives Review

Does Canada Drives Sell New Vehicles?

Canada Drives only sells pre-owned vehicles. These vehicles have low mileage and go through a 150-point inspection before being sold. They also come with a 30-day no-charge warranty, a 7-day money-back refund policy, and a free CARFAX report.

Can I Test Drive a vehicle at Canada Drives?

You can’t test drive the vehicles sold at Canada Drive like at a traditional dealership. Instead, they allow you to use the car for seven days after purchase. During this period has passed, you can either return the vehicle or request a full refund.

Does Canada Drives Do a Credit Check?

Canada Drives doesn’t perform a credit check when applying for a loan. However, this check doesn’t impact your credit score negatively, as the pre-approval counts as a soft check.

What Are the Interest Rates at Canada Drives?

At Canada Drives, the interest rate depends on your credit history, usually between 3.99% to 30%. You’ll qualify for an auto loan with a lower interest rate if you have good credit. On the other hand, you may have to pay higher rates if you have bad credit.

How Long Does Canada Drives Take to Deliver a Car?

Once Canada Drives confirms your payment, they’ll send your car within 48 hours. Depending on your location, Canada Drives may deliver your vehicle the same day you order it.

How Long Does It Take to Apply?

Applying for a loan at Canada Drives takes about 15 minutes. You just need to fill out a short form and submit some basic information. After that, you’ll receive a response within 24 hours.

canada drives review brand logo-comparewise

Canada Drives Review 2022

|
May 18, 2022
Fact Checked
Categories:

Grow your finances today.

By submitting, you agree to comparewise’s terms of use and privacy policy.

You may also like

**Get 50 free trades with code: 50TRADESFREE. That’s almost $500 in commission-free tra...
Looking for the best Simplii Financial review? Search no more as this comprehensive gui...
Are you looking for a comprehensive goPeer review? You have come to the right place sin...
This CIBC Investor’s Edge review contains all you need to know about the discount broke...
This Source Capital review covers everything you need to know about the mortgage broker...

Car loan?
Personal Loan?

Top deals await you just a short
application away!