Canada Drives is a financing pre-approval service that refers you to partner dealers. It stopped selling cars in 2023. CarsFast is a lead site, owned by Consumer Genius Inc., that sends your application to its dealer network. Clutch is an online used-car dealer selling its own cars, and of BC, Alberta and Ontario it sells only in Ontario.
Only Clutch publishes rates: its calculator shows 7.99% to 9.99% by credit tier, over terms of 24 to 96 months (checked October 15, 2026). It is also the only one of the three with a written return policy. With Canada Drives or CarsFast, the dealer you are sent to sets the price, the rate and the protections. This guide covers BC, Alberta and Ontario.
The short answer
- 601
Clutch publishes rate tiers only for credit scores of 601 and up; its calculator shows no rate below that (checked October 15, 2026).
- 2023
The year Canada Drives wound down its own online car sales, according to Automotive News and the Globe and Mail.
- AB
Clutch does not serve Alberta: its AMVIC licence shows as expired since June 30, 2023 (AMVIC registry, checked October 15, 2026).
- 10 days
Clutch’s money-back window, or 750 km, whichever comes first; neither referral site offers a return policy because neither sells the car.
On this page 8 sections
Canada Drives vs CarsFast vs Clutch, side by side
Clutch is a registered dealer with its own inventory, Canada Drives is a pre-approval and referral service, and CarsFast is a lead site. Every row below comes from the company’s own pages or the dealer registries, checked October 15, 2026, except where a figure is credited to Finder. The registries are:
- the Ontario Motor Vehicle Industry Council (OMVIC)
- the Alberta Motor Vehicle Industry Council (AMVIC)
- the Vehicle Sales Authority of BC (VSA)
| Point | Canada Drives | CarsFast | Clutch |
|---|---|---|---|
| What it is | Financing pre-approval and referral to a partner dealer; also buys cars for cash | Lead site that sends your application to its dealer network | Online used-car dealer selling its own inventory |
| Sells its own cars? | No (stopped in 2023) | No | Yes |
| Owner | Canada Drives Ltd., Vancouver; parent not named | Consumer Genius Inc.; terms governed by Alberta law | Clutch Technologies Inc., Toronto |
| Ontario | Registered Brampton location; service area not stated | Covered (terms: Canada except Quebec) | Buy, sell and finance; Toronto, Mississauga, Markham, Ottawa |
| Alberta | Registered Airdrie location; service area not stated | Covered (terms: Canada except Quebec) | Not served |
| British Columbia | Registered Richmond location; service area not stated | Covered (terms: Canada except Quebec) | Sell or trade in only; New Westminster drop-off centre |
| Who lends | The partner dealer’s lenders; none named | The dealer network’s lenders; logo image undated | Lenders Clutch submits your file to; none named |
| Published rate | None | None on its own site (Finder lists 3.90% to 29.90%) | 7.99% (780+), 8.99% (681 to 780), 9.99% (601 to 680); no tier below 601 |
| Terms | Calculator 12 to 96 months; guide says 36 to 72 is typical | Not stated (Finder: 12 to 96 months) | 24 to 96 months; minimum loan $7,500 after taxes |
| Credit check | Dealer inquiry that “will show up on your credit report” | “May” happen; soft or hard not stated | Soft for pre-qualification; possibly hard at the full application |
| Weaker credit | “All credit scores”; $1,800/month income guideline | Names consumer proposals on its home page | No bad-credit claim; weaker files may need a co-applicant or down payment |
| Price and fees | Set by the dealer; none disclosed | Set by the dealer; none disclosed | Ontario prices “Excl. HST & Licensing; Incl. OMVIC Fee”; distance-based delivery fee; financing needs Essential package or higher |
| Returns | Dealer’s policy | Dealer’s policy | 10 days or 750 km money-back guarantee, with conditions |
| Inspection and warranty | Up to the dealer | Up to the dealer | 210-point inspection; Ontario safety certificate; 3-month/6,000 km plan with Essential |
| Registry status | OMVIC registered; AMVIC wholesale only; BC dealer licence cancelled, wholesaler issued | No dealer registration in ON, AB or BC | OMVIC registered; AMVIC expired 2023; BC dealer licence issued |
| Trustpilot, as seen | 2.0 from 3,520 reviews | No profile found | 4.6 from 1,597 reviews |
Trustpilot figures were seen on ca.trustpilot.com on October 15, 2026. They reflect whoever chose to post. Some Canada Drives reviews may date from before 2023, when it still sold cars, so they say little about its referral service today.
How does Canada Drives work in 2026?
Canada Drives pre-approves your financing online and then, in its own words, “we will connect you with one of these partner dealerships” (help centre, checked October 15, 2026). It has not sold cars of its own since 2023, when it ended online retail and delivery and filed for creditor protection. It kept its cash-offer and financing-approval lines (Automotive News; the Globe and Mail).
Some comparison sites still describe it as an online retailer or a direct lender, which no longer matches its own pages. Its How It Works page says you could have a car “in as little as 48 hours”, and it does not name the dealers you will be sent to.
Plan for a credit inquiry that can lower your score. The help centre advises spacing out applications “to minimize the impact on your credit score”. Its privacy policy lets Canada Drives obtain your credit score from a credit reporting agency.
Its $1,800 monthly income guideline comes with a condition: a job held for three months or more, though some government assistance may count (Understanding car loans guide). A June 26, 2026 blog post says a consumer proposal “doesn’t disqualify you” from car financing, but its service pages do not mention proposals or bankruptcy.
Its footer still shows BC dealer licence “DL# 41715”, which the VSA registry lists as cancelled. For a buyer, the licence that matters is the one held by the dealer you are sent to.
How does CarsFast work?
CarsFast passes your application, which it says takes 2 minutes, to dealers in its network. Its terms say the site is “owned and operated by Consumer Genius Inc.” and intended for “residents of Canada, excluding the Province of Québec” (checked October 15, 2026). Some comparison sites credit CarsFast to a different owner; its own terms name Consumer Genius.
It is the only one of the three that names consumer proposals. Its home page says it assists “all types of credit including consumer proposals!” and claims “access to 350 dealerships across the nation” (self-reported). It does not mention bankruptcy. If you are in a proposal, our guide to car loans during a consumer proposal explains how lenders treat one.
Finder also lists a $2,000 monthly income minimum for CarsFast, which CarsFast’s own pages do not confirm. Its terms say “we or third parties may need to conduct a credit check” without saying which kind.
Read the privacy policy before you submit. CarsFast’s policy (last updated January 2, 2025) allows sharing with third parties “including lenders and dealerships” and “purchasers of personal information”. It lists selling your information to third parties among its uses.
Your name, income and credit details can reach companies beyond the dealer who calls you. The lender logo image on its home page includes HSBC and Ally but carries no date, so do not read it as a current lender list.
How does Clutch financing work?
Clutch sells the car and arranges the loan through outside lenders: its FAQ says “We work with many of Canada’s largest financial institutions” (checked October 15, 2026). It is an OMVIC-registered dealer, and its FAQ says “we cannot guarantee that you’ll get approved”. Over 95% of its cars come from people who sold or traded them in, its FAQ says.
The credit check comes in two steps. “Our pre-approval tool is a soft check,” says the Clutch FAQ, which adds that sending your information to banks “could be a potential hard check”. If your credit is not good or excellent, approvals “can sometimes take longer”, and lenders may ask for proof of income or employment.
Financing changes what you pay. Clutch’s listings mark the Basic package “Cash only”, so a financed purchase needs Essential or higher. The package price appears at checkout, and we could not see it on public pages. The FAQ also lists:
- a lender registration (PPSA) fee “usually ranging from $55 to $170”
- a $199 lien discharge fee if Clutch pays off your old loan
- a refundable $100 deposit
The return window has conditions:
- The car must come back without damage, odours or new liens.
- Shipping is not refunded.
- You cannot return a car if you returned two others in the last 30 days.
- A trade-in is not handed back; you get its value, less any lien (Clutch guarantee terms, effective November 7, 2025).
Its Ontario price format leaves out only what OMVIC’s all-in price rule lets a dealer leave out, HST and licensing (O. Reg. 333/08 s. 36).
We re-checked BC on October 15, 2026:
- Clutch’s contact page lists New Westminster only as a “Vehicle Drop-off Customer Centre”.
- Its Vancouver page is about buying your car.
- Its Vancouver shopping link opened Toronto, Ontario inventory.
Clutch holds an issued BC dealer licence, and BetaKit reported in August 2025 that it planned to sell in BC by 2026. But its site offered no way to buy in BC when we checked.
Which one fits your province and credit?
Your province decides first and your credit file second: as of October 15, 2026, Clutch sells cars only in Ontario of our three provinces. It buys but does not sell in BC and does not serve Alberta, while Canada Drives and CarsFast refer applicants to dealers. The table below is our analysis, built from each company’s own pages and the registries.
| If you are | Start with | Because | Check first |
|---|---|---|---|
| In Ontario, credit score 601 or higher | Clutch | Fixed listed price, published rate tiers and a 10-day or 750 km return window | Get the soft pre-qualification, then compare its rate with your bank or credit union before the full application |
| In Ontario, score under 601 or a thin file | Canada Drives or CarsFast | Clutch publishes no rate below 601, and weaker files may need a co-applicant or down payment | Ask the dealer which lender gets your file, and expect a dealer credit inquiry |
| In a consumer proposal, any of the three provinces | CarsFast, or a dealer directly | Only CarsFast names proposals on its home page; Canada Drives covers them in a blog post; Clutch does not address them | CarsFast’s privacy policy allows sharing with “purchasers of personal information” |
| In Alberta, any credit | Canada Drives or CarsFast | Clutch’s AMVIC licence expired in 2023 | The AMVIC licence of the dealer you are sent to, and a high-cost credit licence on any loan at 32% or more |
| In BC, any credit | Canada Drives or CarsFast | Clutch buys cars in BC, but its site offered no way to buy one there | The VSA licence of the dealer you are sent to, and a lender licence on any loan above 32% |
| Only selling a car | Clutch (ON, BC) or Canada Drives | Both make instant offers; Canada Drives says its offer is “valid for 7 days” | Get both offers before you accept either |
Our Alberta car loan guide covers AMVIC and the province’s high-cost credit licence. Our BC car loan guide explains the VSA and BC’s licensing of loans above 32%.
What will your rate actually be?
None of the three can tell you your final rate until a lender has seen your full file. Clutch’s 7.99% to 9.99% tiers are calculator figures, not offers, and chartered banks averaged 6.66% (July 2026, Bank of Canada) on auto loans advanced (Bank of Canada). That is a banks-only series across all credit tiers that leaves out non-prime finance companies.
The rate on your contract is set by the lender your file goes to, which can differ from anything you saw online. Our car loan rate tracker sets published lender floors next to the bank average.
Term length matters as much as rate. A 96-month term on a used car is how people end up owing more than the car is worth. Clutch’s terms run to 96 months, and its FAQ says negative equity from a trade-in can be applied to the new loan. Here is what the longest term costs at Clutch’s 601 to 680 tier, as an illustration and not an offer:
Illustration: $25,000 at 9.99% APR over 96 months
- Amount financed
- $25,000
- APR
- 9.99%
- Term
- 96 months
- Monthly payment
- $379.22
- Cost of borrowing
- $11,405.12
- Total repaid
- $36,405.12
Assumes equal monthly payments, no fees outside the APR and no early repayment. Illustration only, not an offer.
In Ontario, the law gives you some protection at signing. A dealer arranging financing on a used car must make sure the lender has given you its disclosure statement before you sign (O. Reg. 333/08 s. 40). An ad that states a rate or payment must also show the APR and term (O. Reg. 17/05 s. 61). Ask for these in writing:
- the APR
- the term
- the total cost of borrowing
What red flags should you watch for?
Most problems with referral financing appear at the dealer, after the website has done its part. The three that matter most are a dealer with no OMVIC, AMVIC or VSA registration, a payment quoted without its APR and term, and any APR above 35%. That is Canada’s criminal rate since January 1, 2025 (Criminal Code s. 347).
- An unregistered dealer. Check the dealer you are sent to on the OMVIC, AMVIC or VSA registry before you sign anything.
- A payment quoted without an APR and term. A biweekly figure alone hides the rate and the length of the loan.
- Any APR above 35%. No lawful loan offer should exceed it.
- Promises of approval. Clutch itself says it cannot guarantee approval, so treat any promise of approval as advertising, not a decision. See what approval-promise ads really mean.
- Pressure to sign the same day. Ontario and Alberta have no cooling-off period once you sign a vehicle purchase contract (OMVIC; AMVIC). Clutch’s 10-day window is its own policy, not the law.
- Add-ons bundled into the loan. Warranties, protection packages and fees raise the amount financed; ask for each one on a separate line.
- More inquiries than you agreed to. Pull your free credit report after you apply and check who looked.
| Provider | APR as published | Term | Provinces | How to apply | Last verified |
|---|---|---|---|---|---|
| Canada DrivesLoan marketplace | Not published | Not published | BC, AB, ON | Online pre-approval, then referral to a partner dealer, which runs a credit inquiryNo longer sells cars itself since its 2023 creditor protection filing; it still buys cars from consumers. | Oct 15, 2026 |
| ClutchOnline car retailer | From 7.99% | 24 to 96 months | ON | Online, when buying a Clutch vehicle; soft check to pre-qualify, lenders may then pull a hard checkSells its own inventory with a 10-day or 750 km money-back guarantee; buying is Ontario only (BC is sell or trade-in). | Oct 15, 2026 |
| CarsFastLoan marketplace | Not published | Not published | BC, AB, ON | One online application; matched with lenders and a network of about 350 dealershipsStates it assists 'all types of credit including consumer proposals'. | Oct 15, 2026 |
“From” rates go to the strongest applicants; your rate depends on your credit, income, the vehicle and the term. No provider pays NotchUp for its position in this table, which is sorted by type of provider and then alphabetically. Rates are hidden once a row is more than 30 days past its check. Nothing above 35% APR, Canada’s criminal rate, is ever shown. How NotchUp makes money.
For lenders you can approach directly, including finance companies that work with weaker credit, start at our car loans for every credit score hub. Our page on how we check lender rates and tables explains where each row comes from.
Frequently asked questions
Does Canada Drives still sell cars?
No, Canada Drives stopped selling its own cars in 2023, according to Automotive News and the Globe and Mail. Today it pre-approves your financing and connects you with a partner dealership, which sells you the car and sets the price. Canada Drives still buys cars from owners with an instant offer.
Is CarsFast a lender or a dealer?
Neither: CarsFast is a lead site owned by Consumer Genius Inc. that passes your application to dealers in its network. Searches of the OMVIC, AMVIC and VSA registries found no dealer registration for it. It publishes no rate, and its privacy policy allows sharing with “purchasers of personal information”.
Can I buy a car from Clutch in Alberta or BC?
No, not as of October 15, 2026: Clutch’s AMVIC licence expired in 2023. In BC its site shows only selling or trading in a car at its New Westminster drop-off centre. Clutch holds an issued BC dealer licence, so check its site again if you are in BC.
Will applying through Canada Drives, CarsFast or Clutch hurt my credit score?
It can, at the dealer or lender step. Clutch’s pre-qualification is a soft check, but sending your file to lenders “could be a potential hard check”. Canada Drives says the dealer’s inquiry “will show up on your credit report”, and CarsFast says a credit check may happen without saying which kind.
Which one works with a consumer proposal?
CarsFast is the only one whose home page names consumer proposals, saying it works with “all types of credit including consumer proposals”. Canada Drives says its partner dealers have options for “all credit scores” and discusses proposals on its blog, while Clutch’s pages do not address proposals.
What interest rate does Clutch charge?
Clutch’s calculator shows 7.99% for a credit score of 780 or higher, 8.99% for 681 to 780 and 9.99% for 601 to 680. Its terms run 24 to 96 months (checked October 15, 2026). These are illustrations, not offers: the lender sets your rate after a full application, and Clutch shows no figure for scores below 601.
Can I return a car I bought through Canada Drives or CarsFast?
Only if the dealer that sold it offers returns, because neither Canada Drives nor CarsFast is the seller. Ontario and Alberta have no cooling-off period once you sign a vehicle purchase contract, according to OMVIC and AMVIC. So ask the dealer for its return policy in writing before you sign.
Sources
- Canada Drives, home page and footer licences (checked October 15, 2026)
- Canada Drives, Help centre (checked October 15, 2026)
- Canada Drives, How it works (checked October 15, 2026)
- Canada Drives, Privacy policy (checked October 15, 2026)
- Canada Drives, Website terms of use (checked October 15, 2026)
- Canada Drives, Car loan calculator (checked October 15, 2026)
- Canada Drives, Understanding car loans (checked October 15, 2026)
- Canada Drives, Consumer proposal auto loans (June 26, 2026)
- Automotive News, Canada Drives to wind down online used-vehicle sales (2023)
- The Globe and Mail, Canada Drives CCAA reorganization (2023)
- CarsFast, home page (checked October 15, 2026)
- CarsFast, Terms of use (checked October 15, 2026)
- CarsFast, Privacy policy (last updated January 2, 2025)
- Finder Canada, Car loans comparison (CarsFast listing, checked October 15, 2026)
- Clutch, FAQ (checked October 15, 2026)
- Clutch, Auto financing calculator (checked October 15, 2026)
- Clutch, Contact and locations (checked October 15, 2026)
- Clutch, Terms of service (checked October 15, 2026)
- Clutch, 10-Day Money-Back Guarantee terms (effective November 7, 2025)
- Clutch, Used cars in Toronto listings (checked October 15, 2026)
- Clutch, Vancouver shopping link, which opened Toronto inventory (checked October 15, 2026)
- Clutch, Sell my car in Vancouver (checked October 15, 2026)
- Clutch, sample vehicle listing and payment disclosure (checked October 15, 2026)
- BetaKit, Clutch opens BC facility (August 2025)
- OMVIC, Dealer search (checked October 15, 2026)
- OMVIC, Clutch Technologies Inc. dealership profile (checked October 15, 2026)
- OMVIC, Canada Drives Ltd. dealership profile (checked October 15, 2026)
- AMVIC, Public licence register (checked October 15, 2026)
- Vehicle Sales Authority of BC, Search a dealership (checked October 15, 2026)
- Trustpilot, Clutch reviews (seen October 15, 2026)
- Trustpilot, Canada Drives reviews (seen October 15, 2026)
- OMVIC, All-in price advertising
- OMVIC, Cancelling an agreement
- AMVIC, Before you sign
- Ontario e-Laws, O. Reg. 333/08 (General), Motor Vehicle Dealers Act, 2002
- Ontario e-Laws, O. Reg. 17/05 (General), Consumer Protection Act, 2002
- Justice Laws, Criminal Code, section 347: criminal interest rate