Short answer: Anyone in Alberta can apply, whatever their credit story. You get pre-qualified with a soft credit check that doesn't affect your score, and the lender makes the final approval before you choose a vehicle. Then OCAL, an AMVIC-licensed business, sources the vehicle and delivers it to your door. Financing is OAC (on approved credit).
Because the order is different: financing sorted first, vehicle second. Most people pick a vehicle on a lot, then hope the finance office makes the numbers work. We flip that.
| The usual way | The OCAL way | |
|---|---|---|
| Order | Pick the vehicle, then ask about financing | Financing sorted first, then find the vehicle |
| Budget | You learn what you can afford after you've fallen for a vehicle | You know your budget before you shop |
| Where | At the dealership, usually in person | From your phone, with delivery to your door |
A valid Canadian driver's licence, proof of income, proof of address in Alberta, and banking details for payments. You'll need proof of insurance before delivery. New to Canada with no credit history yet? See car loans for newcomers.
Lenders want steady income, not a steady schedule. Recent pay stubs or bank statements are usually enough to start.
Bank statements or notices of assessment show lenders what you actually earn, and the same goes for commission earners. See car loans when you're self-employed.
There's no single cutoff. Lenders look at your income, job stability, recent payment history and the vehicle, not just the score. Most lenders want verifiable income of roughly $1,800 to $2,000 a month. OAC; rates vary by credit. See bad credit car loans if you're rebuilding.
Not always, but it helps. A down payment or trade-in lowers what you borrow and the interest you pay over the term.
A soft inquiry shows your options without affecting your score. A hard inquiry happens only with your consent, once you've accepted an approval for a specific vehicle.
Alberta has no provincial sales tax, so a vehicle bought from a dealer carries only the 5% federal GST. If you trade in a vehicle as a private person, GST is charged on the price of the vehicle you buy minus your trade-in allowance (CRA). A trade-in doesn't reduce the GST on a lease buy-out (CRA).
Registration and insurance are yours to arrange: Alberta insurance comes from private insurers, and the registration is done at a registry agent office. Insurance, registration and loan length all change your total cost of borrowing, which your specialist shows you before you sign. Try the payment calculator or read how loan rates work. This is general information, not tax advice.
Half-ton and heavy-duty trucks for work and towing, all-wheel-drive SUVs for the QE2 in January, and reliable commuter cars. If your truck is how you earn, see how used truck financing in Alberta works, or browse the inventory for ideas. Remember the vehicle is sourced after your approval, so you're not limited to what's on the page today.
Calgary, Edmonton, Red Deer, Lethbridge, Medicine Hat, Grande Prairie, Fort McMurray, Airdrie, Sherwood Park, St. Albert, Spruce Grove, Leduc, Okotoks, Cochrane, Lloydminster, Camrose, Brooks and Canmore. Read more about car financing in Calgary and car financing in Edmonton.
Don't see your community? Apply anyway. We deliver wherever you can register a vehicle.
No. You get pre-qualified, the lender makes the final approval, then we source a vehicle that fits. Already have one in mind? Tell your specialist.
A soft credit check gets you pre-qualified, so you see your likely options without affecting your score. It isn't a final approval; the lender decides once it has your documents and vehicle details. Here's how pre-approval works.
No. Checking your options is a soft inquiry. A hard inquiry needs your consent, once you've chosen a specific vehicle.
No. OCAL arranges financing through third-party lenders. The lender sets your approval, rate and term. There is no rate markup.
Most files go from application to signed contract in about a week, with delivery usually three or four days after signing. Remote communities can take longer.
Rotation work doesn't rule you out. Lenders in our network consider rotational and camp income documented with pay stubs or bank statements. Approval is OAC.
No. Everything from application to delivery happens remotely. If you'd rather talk to someone, contact our team.
Yes. Your loan payout is settled from the trade-in value. If you owe more than it's worth, that gap is negative equity; lenders sometimes allow some of it on the new loan, which raises your cost, so we show you the numbers first. Read about trading in with negative equity, or sell or trade in your car.
OCAL is licensed in Alberta and British Columbia and delivers anywhere in both. Manitoba and Ontario are next. See car financing in British Columbia or all financing FAQs.
OCAL Financial Inc. is an AMVIC-licensed business, licensed by the Alberta Motor Vehicle Industry Council, AMVIC #B2036050. Our Alberta office is at 10515 103 Ave NW, Edmonton, AB T5J 4P7, and our head office is in Vancouver, where we are a licensed motor dealer, VSA #D50207.
OCAL arranges financing through third-party lenders and doesn't lend money or set rates. All financing is OAC.
When you're ready, start your application. Prefer to talk first? Call 1-877-495-2012, Monday to Saturday, 8:00 to 6:00 Pacific.
Two minutes. No obligation. No hit to your credit score.