60 mins car loan

A car loan in 60 minutes is a fast financing solution that allows you to obtain a approval immediate and speed up the purchase of your vehicleUnlike traditional loans that can take several days, this type of financing is designed for customers who urgently need a vehicle and want to avoid lengthy administrative procedures.

1. Definition and operation of rapid financing

A 60-minute car loan relies on a streamlined process that allows for a quick response from lenders. Here’s how it works:

• Submitting the application online or in-branch: You fill out a form with your personal and financial information.
• Instant File Analysis: Financial institutions evaluate your income, job stability and credit history.
• Approval in 60 minutes: If you are eligible, a loan offer is quickly generated with the terms (amount, duration, interest rate).
• Choosing and purchasing a vehicle from our inventory: Once approved, you can select a vehicle that matches your budget and finalize the transaction.

This type of loan is aimed at a wide range of customers, including those with 2nd, 3rd or 4th chance credit, thus allowing people with a more difficult financial history to access financing.

2. Difference between a traditional car loan and a quick loan

Unlike a traditional car loan, which can take several days to be approved, a 60-minute car loan is much faster and more efficient. Here are some key differences:

With this fast financing method, customers in urgent need of a vehicle can avoid credit refusals and extended delays.

3. Why is this option ideal for those in urgent need of a vehicle?

A quick car loan is particularly suitable for people who need to buy a vehicle without delay. Here are some situations where this financing is an ideal solution:

• Need a car for work: If your job requires a vehicle, getting financing quickly can save you from losing income.
• Replacing a broken-down vehicle: If your current car is no longer working and repairs are too expensive, a quick loan allows you to change vehicles without delay.
• People who have been turned down elsewhere: Those with bad credit, a history of bankruptcy or late payments can find a solution with a 60-minute loan.
• Moving or Change of Situation: If you need to relocate quickly, having reliable transportation can be essential.

This type of financing thus offers a quick and efficient solution for buyers who cannot afford to wait several days or weeks for credit approval.

Getting a car loan in 60 minutes is based on a fast and streamlined process that helps expedite the approval and purchase of your vehicle. With an efficient processing system, you can get a response within an hour and drive away with your car quickly. Here are the detailed steps of the process:

1. Quick submission of the application online or in branch

The process begins with the submission of a loan application, which can be done:

• Online via a secure form, accessible 24/7.
• In branch with the help of a financing advisor.

💡 Information required when requesting:

• Your personal details (name, address, telephone, email).
• Your financial situation (income, employment, monthly expenses).
• Your credit history (if applicable, but not blocking for 2nd, 3rd, 4th chance credit).
• The type of vehicle you are looking for and your budget.

This step takes only a few minutes, and your request is immediately sent to partner financial institutions for analysis.

2. Instant analysis of credit file and income

Once the application is submitted, a quick assessment is performed to determine your borrowing capacity and identify the best financing options.

🔎 Factors analyzed by lenders:

• Your credit score (but options exist even for bad credit).
• Your monthly income and job stability.
• Your debt ratio to ensure that the loan is viable.
• Payment history and recent financial events (bankruptcy, consumer proposal, late payments, etc.).

📌 Good to know: Even if you have bad credit, bankruptcy, voluntary forgiveness or default, 2nd, 3rd and 4th chance credit solutions are available to maximize your chances of approval.

3. Quick approval and choice of the vehicle adapted to your budget

Once the analysis is complete, you will receive an approval within 60 minutes with the following details:
Amount of loan granted.
Applicable interest rate.
Loan term and estimated monthly payments.
Special conditions (if a down payment or co-borrower is required).

Choice of vehicle:
Once you're approved, you can choose a vehicle that fits your budget. Some lenders require newer, more reliable vehicles, while others will also finance more affordable used vehicles.

Available options:

• Choose a vehicle from a partner dealer.
• Find a vehicle in inventory on Prêt Auto Québec’s web platforms.
• Purchase a vehicle from a private seller (depending on loan terms).

4. Signing the contract and finalizing the financing

Once the vehicle is selected, all that remains is to finalize the financing agreement.

Final steps before delivery of the vehicle:

• Review and signing of the loan agreement (online or in branch).
• Confirmation of documents (ID, proof of income, etc.).
• Implementation of compulsory insurance (if necessary).

Once all steps are completed, the vehicle is ready for immediate delivery or pick-up from the dealer.

The 60-minute car loan is a solution accessible to a wide variety of customers, whether you have good credit, bad credit or are in a more complex financial situation. Thanks to the options of second, third And fourth chance credit, even borrowers who have been refused elsewhere can get quick approval. Here are the main profiles who can benefit from it.

1. Financing available for customers with good or bad credit

Whether you have a good or damaged credit score, you can get a fast car loan.

• Customers with good credit
  • Access to the best interest rate.
  • Fast approval with less documentation required.
  • Possibility of obtaining flexible repayment terms.
• Customers with bad credit
  • Suitable financing options, even in the event of bankruptcy, late payments or voluntary surrender.
  • Personalized approach to maximize acceptance.
  • Financing possible without initial contribution (under certain conditions).

📌 Please note: Even if your credit is damaged, an analysis based on your income and financial stability can lead to loan approval.

2. 2nd, 3rd and 4th chance credit options

If you have already been refused by a bank or other lender, the 60-minute car loan can be an alternative solution thanks to specialized financing options:

• 2nd chance credit
  • Ideal for those with average to low credit (550 to 650).
  • Financing available after late payments or slight financial instability.
• 3rd chance credit
  • Suitable for borrowers with a credit score below 550.
  • Solutions for those with a recent bankruptcy or consumer proposal.
  • Slightly higher interest rates, but quick access to a vehicle.
• 4th chance credit
  • Last option for customers with many refusals and a very damaged credit history.
  • Financing based on income and repayment capacity, rather than credit score.
  • May require down payment or co-borrower to strengthen application.

📌 Good to know: Prêt Auto Québec works with more than 20 financial institutions specializing in 2nd, 3rd and 4th chance credit to maximize your chances of obtaining approval.

3. Solutions adapted to self-employed workers, new arrivals and people who have experienced bankruptcy

The fast car loan is also an excellent solution for profiles who often encounter obstacles with traditional banks.

• Self-employed workers and without pay stub
  • No need for a fixed income to obtain financing.
  • Ability to provide bank statements or financial statements to prove repayment capacity.
• New arrivals in Canada
  • Access to financing even without a Canadian credit history.
  • Flexible conditions to facilitate integration and the purchase of a first vehicle.
• People who have experienced a bankruptcy or a consumer proposal
  • Possibility of obtaining a loan even during or after bankruptcy.
  • Options for rebuilding your credit with suitable financing.
  • Personalized plans to avoid falling back into financial difficulties.

📌 Remember: No matter your financial situation, there is a quick financing solution to allow you to obtain a car loan in 60 minutes.

Getting a car loan in just 60 minutes offers many benefits for those who want to finance a vehicle without waiting. This type of financing is designed to be fast, efficient, and accessible, even for those with bad credit or rejections elsewhere. Here’s why choosing a fast car loan can be a great option.

1. Save time and simplify the process 

One of the biggest benefits of a 60-minute car loan is its speed. Unlike traditional loans, which can take several days, this type of financing allows for immediate approval.

Apply online or in branch in minutes.
Quick analysis of your financial situation and your credit.
No unnecessary paperwork, everything is simplified to speed up the process.

📌 Please note: If all your documents are in order, you could get your vehicle the same day.

2. Avoid long procedures and repeated refusals 

Getting a car loan from traditional banks and institutions can be complicated, especially if you have bad credit, a past bankruptcy or late payments.

Problems with a traditional loan:

• Long process with lots of documents to be provided.
• High risk of refusal if your credit score is low.
• Waiting several days for a response.

Benefits of a quick car loan:

• Avoid repeated refusals, which could further harm your credit score.
• Get a clear and quick answer, without wasting time.

📌 Remember: With a 60-minute car loan, you eliminate the stress of refusals and access an effective solution right away.

3. Access to a vehicle quickly, even with damaged credit 

If you have bad credit, bankruptcy, a consumer proposal, or a high debt ratio, it can be difficult to get a traditional car loan. With fast financing, you have access to a car without waiting, even if you've been turned down elsewhere.

Suitable financing options:

• 2nd Chance Credit: For those with average to poor credit.
• 3rd and 4th chance credit: For customers who have experienced bankruptcy, divorce, voluntary surrender or financial repossession.

📌 Example: If your current vehicle no longer works and you depend on your car for work, a fast car loan allows you to find a means of transportation immediately, without unnecessary waiting.

4. Personalized support to find the best rate and the best conditions 

Thanks to a network of specialized financial partners, a fast car loan allows you to find the option that really corresponds to your situation.

A broker like Prêt Auto Québec helps you:

• Compare multiple offers and get the best possible rate.
• Find solutions adapted to your budget and repayment capacity.
• Avoid the pitfalls of high interest rates by negotiating the best terms.

📌 Why it matters: If you have bad credit, every point counts to get a loan with the best possible terms.