FAQ — Capital City Finance Centre

Question 1

Who is eligible to apply for financing?

Accepted Answer

We welcome applicants of all credit backgrounds — including those with no credit history, past bankruptcies, or previous repossessions. As long as you are a Canadian resident with a source of income, you are encouraged to apply. We work with a network of lenders to find options that fit your situation.

Question 2

Will applying affect my credit score?

Accepted Answer

Submitting an application with Capital City Finance Centre does not automatically affect your credit score. We conduct a soft review of your information first. You will always be informed and asked for your consent before any hard credit inquiry is made.

Question 3

Will there be a hard credit inquiry?

Accepted Answer

A hard credit inquiry may be required as part of the final approval process with a lending partner. However, we will always notify you and obtain your consent before any hard pull is submitted. Many applicants receive conditional approval before a hard inquiry is ever needed.

Question 4

Are there any application or financing fees?

Accepted Answer

There is no fee to apply. Financing fees — such as documentation and lender fees — are disclosed upfront as part of your loan agreement before you sign anything. There are no hidden charges.

Question 5

What interest rates are available?

Accepted Answer

Your interest rate is determined based on your individual credit profile, loan amount, and term. Your specific rate will be presented to you clearly before you accept any offer, with no obligation to proceed.

Question 6

What loan terms are available?

Accepted Answer

We offer flexible loan terms ranging from 24 to 84 months for auto loans, and shorter terms for repair financing. Our team will work with you to find a payment schedule that fits your monthly budget.

Question 7

Will there be a lien registered against the vehicle?

Accepted Answer

Yes. As is standard with any secured auto loan in Canada, a lien will be registered against the vehicle for the duration of the loan. Once the loan is paid in full, the lien is discharged and full ownership transfers to you.

Question 8

Which repair shops participate in the repair financing program?

Accepted Answer

Our repair financing program works with a growing network of licensed auto repair facilities across Canada. If you have a preferred shop, contact us and we will do our best to work with them. Funds are paid directly to the repair facility upon approval.

Question 9

How are approved funds paid out?

Accepted Answer

For auto loans, funds are remitted directly to the dealership or seller on your behalf. For repair financing, funds are paid directly to the approved repair facility. In both cases, you never handle the funds yourself — the process is handled securely between us and the vendor.

Question 10

Are funds paid directly to the repair shop or to the customer?

Accepted Answer

Funds are paid directly to the repair shop, not to the customer. This ensures the money is used for the intended repair and protects all parties involved. The shop receives payment upon confirmation of the approved repair work.

Question 11

What information or documents are required to apply?

Accepted Answer

To complete your application you will typically need: government-issued photo ID, proof of income (recent pay stubs, bank statements, or benefit letters), proof of residence (a utility bill or bank statement showing your address), and your Social Insurance Number for credit verification. Additional documents may be requested depending on your situation.

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