1. Executive Introduction With average new vehicle transaction prices hovering near $45,000 CAD, an increasing proportion of Canadian buyers are opting for extended loan terms of 7 years (84 months) or 8 years (96 months) to achieve manageable monthly payments.
The consumer credit market in Canada is witnessing a striking divergence in vehicle financing: while aggregate debt balances continue to surge to unprecedented levels, origination volumes of new loans are experiencing a noticeable contraction. Data from Equifax Canada Market Pulse
The automotive financing landscape across the United States and Canada is undergoing a significant transformation. Between record-high vehicle prices, extended amortization periods, and shifting credit underwriting policies unveiled at major industry forums like the Auto Finance Summit 2026, both consumers
1. Navigating the 2026 Canadian Pre-Owned Auto Market Before setting foot on a dealership lot or browsing online classifieds, knowing the market terrain is critical. The Canadian used vehicle landscape has evolved substantially post-pandemic, and baseline price points remain elevated.
In the traditional lending industry, securing approval for an auto loan, mortgage, or personal credit line often meant navigating a maze of paperwork. Borrowers had to collect months of pay stubs, bank statements, and tax filings, submit them via email
When it comes to purchasing a car, the age-old question of “Should I buy a new or used car?” can be a tough one to crack. We’re here to help you break it down and make an informed decision. As
Welcome to Canada! As a newcomer with dreams of owning your own car, navigating the vibrant auto market might feel like a journey into the unknown. Don’t worry – LoanWhiz is here to steer you in the right direction. Buying
When it comes to getting behind the wheel of your dream car, the road might seem a bit winding, especially when it comes to financing options. At LoanWhiz, we believe in making your car ownership journey as smooth as possible,
With used cars, you might be concerned about potential repair costs down the road because the allure of a brand-new manufacturer’s warranty has faded. But fear not – LoanWhiz is here to shed light on the solution: extended warranties. Let’s
In the realm of finance, the term “pre-approval” often surfaces, promising a potential borrower a world of possibilities. But what exactly does pre-approval mean, and how does it work? LoanWhiz is here to demystify the concept of pre-approval, its workings,
We are a loan originating software (LOS)
designed to streamline and automate the
lending process for all types of federally
regulated financing products.
