Planet Financial specializes in Trucks and Trailers Financing, Commercial Truck Financing and Re-Financing of all types of Trucks and Trailers. We deal with both new Truck Loans, commercial truck loans, used truck loans, and trailer loans and leasing of all makes and models and can help you in getting bad credit loans in Ontario. It is tough to get a loan with no credit check in Canada.

Generally, there are tonnes of misconceptions out there that if you have bad credit or no credit, you cannot get approved for a truck loan or truck leasing. This is somehow not true as dealerships and lenders have found that with the ups and downs of the Canadian economy, they need to make truck loans available for good and bad credit customers alike.


The biggest difference between getting a truck loan with bad vs. good credit is your lending source. Generally, a person with good credit can walk into a bank and get his loan approved but if you have bad credit, it becomes difficult to get approved as they prefer customers with good credit scores and spotless credit history. But at Planet Financial we can help you in getting your loan approved under restricted limitations. For instance, you can provide a co-signer to increase the chance of approval. Few factors like an old corporation, being a homeowner, no consumer proposal can help you in getting approved easily. If you have bad credit, then there is a chance that your down payment and interest rate can be comparatively high but still, you can get approved. We make sure the customer who has bad credit is getting the truck loan instant approvals at an affordable interest rate. We do not consider people who have had a consumer proposal in the past six years.

You can also get your loan pre-approved from us which can help in saving your time while choosing your truck. You can work with our team to estimate what you may be able to afford as a total loan amount. A co-signer or co-applicant is a useful option to think about when you have bad credit, especially as trucks are generally more expensive than cars. Adding a co-applicant with a higher credit score means you’re applying for a joint auto loan. Creditors see this as two sets of income that can be considered by the lender and balance the difference between your credit scores. That can increase your chances of approval and, if approved, may get you a larger loan amount at a better interest rate. Most lenders check the credit history and make decisions on loan applications. What you should keep in mind is that you can build your credit with good planning.

Even if you have red flags in your credit history, you are able to succeed to secure the truck loan. Surely you will be surprised to know all the options available.

Though It may take some time, it’s better to choose the right financing option for your business needs and goals. Next up, spend sufficient time on research to find a good truck.

Consider down payment, interest rates and other things before moving ahead. Just think about the add-ons like extended warranties, insurance, service contracts and other additional products. This way you can easily secure the truck loan at lower interest rates with no credit or bad credit.

Our application process is extremely fast, and we guarantee the most competitive rates of interest especially when you are getting truck loans in Brampton for instant loans. Don’t wait any longer.

If you need a truck loan here is our Document Checklist

  1. Valid ID
  2. Bill of Sale
  3. Article of Business Incorporation
  4. Last-three-month bank statements.
  5. Credit Application (download it here)

You can email all the documents at [email protected] or you can also get your free inquiry at 647-449-6060.

Click that “Apply Now” button to proceed with your desired heavy machinery loan provider. Some clients will rather have some guidance throughout this process, so we also have the added option for you to pre-apply at Planet Financial for instant approvals. Our team will sort through your information and give you the best rate of interest all over Canada.  You can also Sign up for our newsletter for our recent updates and get special offers on heavy equipment loans. Apply online by filling up the credit application for quick approvals for your own or commercial truck loans or Call us and book an appointment. We would be happy to serve you.