Bad Credit Personal or Car Loans Toronto GTA

Here is what Prudent offers:

Bad Credit Personal Loan Lenders
  • Fast same day loans which are open and can be repaid at any time.
  • Interest rates at 5.75% to 9.9% plus affordable fees. For example, the total annual cost of interest and fees on a $1023 loan begin at $239.89. Interest rate depends on your job, income, assets and debt.
  • All loan payments reported to the credit bureau.  When you make payments on time, your loan gets the highest ranking, an essential step in rehabilitating your credit history.
  • In an emergency?  We hold your payments free of charge up to 2 weeks if you call 2-3 business days before the payment. This prevents costly NSF charges.
  • We provide videos and blogs with information from reputable sources about how to be a smarter manager of your finances.  And easy, helpful budget forms.
  • We are a family-run firm since 1984 with a friendly multicultural staff  from 18 different countries.  You will have your own loan officer to help you with questions or issues.

Bad Credit Personal Loans – up to $5,000

Please note that all loans are subject to pre-approval and depend on job, income, debt and assets.

Basic criteria are the following:

Income Requirement:

  • Full time employment – 6 months min. (based on previous history of consistent employment )– in a workplace of 10 or more employees.*
  • Computerized pay stub with deductions.*
  • Earning an average of $18/hour or a minimum of $38,000/yearly.*

*Additional conditions may be required.

Credit History:

  • R9’s, past collections are OK if resolved through counselling, bankruptcy or  proposal.
  • If you have no credit or current or past debts — you would need to consult with one of Prudent’s loan specialists for a loan approval as it will depend on your individual situation.

If you don’t meet any of the above criteria you may still be eligible , if you have a paid off vehicle 6 years or newer.

Bad Credit Car Loans – up to $25,000

Bad Credit Auto Loan Lenders

Cars may be bought from our Prudent Value Cars (PVC) dealership, 2 minutes away from Prudent Financial Services. PFS offers fast same day car loans with interest rates which are the lowest in the GTA for people with bad credit including bankruptcy and proposal. You can buy and drive away on the same day.  PFS also offers car financing for dealers across the GTA. 

Please note that all loans are subject to pre-approval.  Interest rates depend on job,  income, assets and debt. Basic qualifications are the following:

  • Full time employment – 6 months min.  (based on previous history of consistent employment ) – in a workplace of 10 or more employees.*
  • Computerized pay stub with deductions.*
  • Earning an average of $18/hour or a minimum of $38,000/yearly*
  • If you don’t make the min. income requirement, please apply if you have a paid off vehicle 6 years or newer.*
  • R9’s, past collections OK if resolved through bankruptcy, proposal or counselling.*
  • Zero down payment if you qualify*
  • Self-employed?  Down payment required.  To speak to a friendly loan officer, call 416-223-9300 or 1-888-852-7647.  

*Additional conditions may apply


For more information about Prudent Value Cars and inventory, click here.

Prudent is a member of Ontario Motor Vehicle Industry Council and the Used Car Dealers Association of Canada.



As much as we want to provide lending to everyone who applies, we do have criteria that we have to abide by in order to stay in business.  Our lending formula basically takes into account your monthly income (plus assets) against your monthly unsecured debt (including car loans) and other expenses. If the ratio is beyond what we feel is realistic, we must decline the loan. Prudent has been lending and building relationships since 1984 and we have a long record of historical accuracy for realistic debt to loan ratios. Unfortunately, we can’t help everyone . But we very much appreciate your considering us and giving us the opportunity to compete for your business.– Jill Stern, Sr. Loan Manager, Prudent Financial Services Inc.

Prudent Financial Services

Business Hours

Monday to Friday
9am - 5pm

9am - 1pm


Serving the GTA since 1984

North York