Curbie Financing

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“Every customer is treated with courtesy and respect. At Curbie you will always be treated like one of the family.”

Alex Cruder, CEO


Curbie’s Finance Promise



Frequently Asked Financing Questions

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Applying is a quick and painless process. Click the financing tab and follow the onscreen directions. After you’ve completed your application, we send it to our credit team who will review and be in touch if there is any more information required before we submit it to the bank.

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Applying for financing is easy. After selecting “Get this Car” in any vehicle description page, you will be asked if you are paying with “Cash” or “Financing”. Select Financing and you will be taken through our online financing application as part of the checkout process. Our Credit Team will review and submit to lenders for approval. 

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Credit history and financial capacity are the largest determinants of the interest rate. While the age and term of the loan factor into the rate, generally, with good credit and sufficient income, expect prime rates to be between 4.99% - 7%. The only way to determine an interest rate is to submit an application. 

Each time a credit application is submitted, there is a small impact to the applicant’s credit score. This impact is temporary, reversing with time. 

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Gross income is your total monthly or yearly income before any taxes are deducted. This amount is higher than your ‘net pay’ or ‘take home’ pay.

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The SIN is not mandatory for a credit application but it can help with a faster approval. It allows the bank to pull your credit history more efficiently. Often, without a SIN, it is difficult to locate a specific individual’s credit history as there are many people with similar names. As SINs are unique, this process can be faster with fewer errors or follow-up questions from lenders.

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At Curbie, all auto loans are ‘open-ended’ meaning that they can be paid off at anytime without penalty. You can also pay down the loan as much as you like at anytime. Should you wish, you can also request the bank to increase your payments to payoff the loan faster. This really puts you in the driver’s seat.

Note: If you decide to place extra money down on the loan after you take possession of the car, it will not lower your payment, it will shorten the length of the term of the loan.

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Interest is calculated on a per payment basis. This means that if you pay the loan off early you will not be charged the remaining interest. For example, if you are on a 60-month loan and you pay it off in full in 36-months, you would save 3-years worth of interest.

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You can decide on payment dates before the paperwork is signed. You can pick almost any day you’d like - some people prefer to have it after payday.

For bi-weekly payments, standard bank parameters state that your first payment must be at least 14 days from your contract date, but no more than 21 days.

For monthly payments, the first payment must be 30 days from your contract date and can be moved up to 45 days from first contract date.

You also have the flexibility to call the bank that your loan is through and have them change the payment date (after your first payment comes out).

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No. Your loan does not need to be through the same bank as your personal bank account. All that is needed is a void cheque or a direct deposit form for the account you want your automatic payments to be withdrawn from.

Note: Payments cannot come from a credit card account.

If your personal banking and auto loan are with different banks, simply call the bank that the loan is with to request the payout amount and any other details you may require. They will also provide instructions for paying off the loan.

If your personal banking is through the same bank as the auto loan, you will be able to view the loan through your online banking portal and pay it down online or at a branch.

When you bring over previous debt, we as the dealer will pay off the total amount of your previous car loan. You will not have anymore payments withdrawn from that loan. The remaining balance is added to your new loan.

This is common if you have a previous car payment scheduled to come out within a few days of taking possession of your new vehicle and loan. Do not be alarmed! We always tell customers to be prepared for a possible payment to be withdrawn for their previous loan as it can take banks up to 10 business days to pay off the previous loan once the cheque is received.

If a payment does come out, you will be reimbursed. Once the bank receives the funds, they will be ‘overfunded’, whereby the difference will be deposited back into your account or mailed to you.

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The minimum amount a bank can finance is $7,500 after taxes. If the amount is below this, banks are not able to finance a contract. However, after the vehicle is financed, you can put money down on the loan.

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This is a fee charged by the bank. It reflects the cost of both processing the loan and registering a lien against the vehicle being financed. The amount varies depending on the bank, the term of the loan and the province in which the lien is registered. Usually, the Financing Fee ranges from $130 to $500.

When we bring the vehicle and the financing contract to your home, the following items are required:

  • Void cheque or direct deposit form for the bank account you want your payments to come from
  • Copy of your new insurance faxed or emailed to us with the loan holder indicated on it
  • A valid driver’s license
  • Any stipulations asked for by the lender