Building a Canadian credit file
- Get a Canadian credit card and use it lightly, paying in full each month.
- Keep the auto loan payment current. It reports monthly.
- Do not carry a balance above 30 percent of any limit.
- Keep your address and identification details consistent across accounts.
What lenders want to see
- Verifiable income in Canada, or a stable international income if applicable.
- A valid provincial driver licence and vehicle registration.
- Proof of insurance on the vehicle.
- A payment history on the current loan, even a short one.
Timing the refinance
Most lenders want to see six to twelve months of Canadian history on the loan. Applying before that usually produces the same rate you already have.
Save thousands
Save thousands by refinancing your vehicle anywhere in Canada.
Free to apply, no obligation, and no credit check to pre-qualify.
Frequently asked questions
It is difficult without any Canadian file. A co-signer or a longer payment history on the current loan helps considerably.
Lenders generally expect a valid provincial licence and registration for the vehicle being refinanced.
Yes. Auto loans report to the credit bureaus, so on-time payments strengthen a new Canadian file.