First, it’s important to understand what “bad” credit means. Credit scores typically go as high as 900 and as low as 300. If your credit is under 600, you may not get auto loans, mortgages, or other types of financing. Yet this Doesn’t mean you have to ride your bike to work or take public transportation. Perhaps you have concerns or questions about including your vehicle(s) into your insolvency filing. Here are the most frequently asked questions clients face on making this decision. If you still have questions or concerns on the vehicle financing issues, feel free to call us to get clarification on the issue.

What is the financing rate?

We have access to available lenders that offer financing to bankruptcy or consumer proposal clients, where rates range from 8.9% to 13.9.% (on average OAC). The rates are not free, but they are fair; most lenders will only offer bad credit auto loans at 19.9% to 34.9%.

Why is it important to have vehicle financing post filing?

We have had clients come to us even two years after credit and debt counseling because they were still not able to secure better rates than 29.9%. This was because they were not re-established in credit. Make sure after you are discharged that you have established new credit at the same time. Nothing builds credit faster/stronger than 36 perfect car payments!

Should I include my vehicle(s) into my bankruptcy or consumer proposal?

Any payments made on an existing financing WILL NOT enhance your credit profile. Lenders want to see the re-establishment of credit after bankruptcy or consumer proposal. Anything that shows up on the bureau after the filing date will form the basis of the finance rate. Our goal is to have your credit score raised through our financing so you will be eligible for much better rates on your next vehicle(s)!

Can I get pre-approved before deciding to file bankruptcy or consumer proposal?

We have access to lenders that will provide a vehicle or vehicles on the same day as filing. To be assured you will NOT be left with no way to drive to work, we recommend getting the pre-approval in place. Our team of finance and vehicle specialists will secure an approval with a replacement vehicle in advance. The transition is seamless; drive away in a new car the same day you include your existing vehicle(s) into insolvency.

If I stop payment on my current vehicle, how soon will the finance company take it?

It can take up to two months for your current vehicle to be taken by the finance company depending on how far you are in arrears. Our objective is to have the replacement vehicle already in your possession, so you are not left without transportation.

How does Auto Finance Express find my replacement vehicle(s)?

This is a time of transition. Your replacement vehicle is the tool used to rebuild credit, and vehicle acquisition is our expertise. We purchase the vehicle individually for our clients. We base it on immediate needs and budget to ensure you are successful in transitioning to improved credit. We purchase vehicles for our clients so we can get the best pricing available. We even deliver the vehicle to you!

Contact Us


9327 63 Ave NW,
Edmonton, AB
T6E 0G2

Sales: 780-469-8108

Hours of Operation

Monday 10:00 AM to 6:00 PM
Tuesday 10:00 AM to 6:00 PM
Wednesday 10:00 AM to 6:00 PM
Thursday 10:00 AM to 6:00 PM
Friday 10:00 AM to 6:00 PM
Saturday 10:00 AM to 2:00 PM
Sunday Closed