When your car breaks down, vehicle repair loans get you matched fast so you can get back on the road. Compare licensed Canadian lenders in one 60-second application, funded by e-transfer — no impact to your credit to compare.
A vehicle repair loan is a fast personal loan you use to cover an unexpected car, truck, SUV or van repair. Most Canadians need their vehicle for work and family, so a breakdown can't wait — and a repair bill rarely lines up with payday. Loanspot matches you with licensed Canadian lenders from one 60-second application, so you can be approved and funded quickly instead of putting the repair on a high-interest card.
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Approval is based on your income and ability to repay rather than your credit score alone, so fair and bad credit are still considered when your vehicle needs fixing.
Borrow only what the repair quote requires, and keep the estimate handy so you match the loan to the actual cost. Need a different kind of fast help? Compare emergency loans for any urgent bill.
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Apply once and get matched fast — comparing won't affect your credit.
Tell us how much the repair costs and confirm your income with IBV — no documents to fax.
We compare licensed lenders and show you real options right away.
Choose an offer and receive your funds — often by e-transfer the same day — and pay your mechanic.
Every lender in the network must stay within the federal 35% APR cap and follow Canadian cost-of-borrowing laws, disclosing the full cost of your vehicle repair loan before you sign. Always check the total cost of borrowing, not just the monthly payment, and never pay an upfront fee to "release" a loan.
To qualify you generally need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income confirmed with a 60-second read-only IBV check. For a larger or longer repayment, an installment loan spreads the cost into predictable payments.
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The questions Canadians ask most when their car needs fixing.
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Most applicants are matched within minutes, and many lenders send approved funds by e-transfer the same day — so you can authorize the repair quickly.
Often yes. Approval is based mainly on your income and ability to repay, so fair and bad credit are still considered.
It depends on your income and the lender. Use your repair estimate so you borrow what the job actually costs and no more.
Funds are sent to you, usually by e-transfer, and you pay the repair shop directly.
No. Comparing options on Loanspot does not affect your credit score. A lender may only run a check if you move forward with an offer.
Generally you need to be the age of majority in your province, a Canadian resident, and have steady full-time or part-time employment income verified through IBV.
All lenders must stay within the federal 35% APR cap and disclose the full cost of borrowing before you sign.
One 60-second application. No obligation. No impact to your credit score to compare.
Get matched now →