Consumer Proposal Car Loans ·

Consumer Proposal?
Not a Dead End.
You're Approved.

A consumer proposal doesn't mean you can't get a car loan. The Car Guy works with lenders across who finance buyers during and after consumer proposals — and who see your situation as responsible debt management, not a red flag.

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All Credit TypesGood, bad, or no credit

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No impact to your credit score to get started!

A consumer proposal is a structured agreement to repay a portion of your debt — it's a responsible step toward financial recovery. But it can make getting a car loan feel impossible. Most big banks and franchise dealerships will say no. We don't.

The Car Guy team has relationships with lenders who specialize in consumer proposal financing. Some will approve you while you're still in your proposal, others right after completion. We know which lenders fit which situation.

The biggest factors lenders consider during a consumer proposal are: how far along you are in your payments, your current income, your down payment, and whether you've been making your proposal payments on time. Consistency matters more than your credit score here.

Getting a car loan during or after a consumer proposal also helps rebuild your credit. Each on-time payment reports to the credit bureaus and moves your score upward. We've seen customers improve their score by 100+ points within the first year of their auto loan.

From Paul, Founder

“A consumer proposal means you're dealing with your debt responsibly — that's a positive signal, not a negative one. I work with lenders who see it the same way. Let's find you a path forward.”

During or after proposalCredit rebuildingLenders who understand

Your Questions Answered

Can I get a car loan while still in a consumer proposal in ?+

Yes. Some lenders will approve you while you're actively making consumer proposal payments. The key factors are your income, how many payments you've made on time, and your down payment. We know which lenders work with active proposals.

Do I need to wait until my consumer proposal is complete?+

Not necessarily. While more lenders open up after completion, several will work with you during your proposal — especially if you've made 12+ payments on time. We evaluate your specific timeline and match you with the right lender.

What interest rate can I expect with a consumer proposal?+

Typically 10-18% depending on where you are in your proposal and other factors. Rates improve as you rebuild credit. We're upfront about this — no surprises.

Will getting a car loan affect my consumer proposal?+

Taking on new debt during a consumer proposal requires care. We work within your budget to ensure your car payment doesn't interfere with your proposal payments. Your financial stability is the priority.

How much down payment do I need with a consumer proposal?+

Most lenders want $1,000-$3,000 down for consumer proposal situations. A larger down payment can lower your rate and improve approval odds. We'll give you an honest number for your specific case.

How long does approval take with a consumer proposal in ?+

Usually 24-48 hours once we have your documents. Sometimes faster. We work to get you an answer quickly so you're not left waiting.

Will the car loan show up on my consumer proposal record?+

Your new auto loan is a separate, post-proposal credit relationship — it doesn't get rolled into the existing proposal. It actually helps rebuild your credit profile while your proposal completes.

Do I need a co-signer if I am in a consumer proposal?+

Usually not. A co-signer can help with rate in some cases, but most consumer proposal approvals are based on your income and proposal payment history — not a co-signer.

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