frequently asked question

Customer FAQ

Applying for a car repair loan

A car repair loan is intended body or mechanical damage repairs on your vehicle or for preventative repairs. It is not intended for the financing of any vehicle customization, upgrades on audio equipment, etc.

The Fixit Financial Inc. application process takes place online. It is easy and fast. Simply download our App from Google Play™ or the i-Tunes Store™ and follow the instructions.

  • Your vehicle must be less than 5 years old, except in the case of   luxury vehicles.
  • Provide proof of collision insurance on your vehicle.

Yes! Fixit Financial Inc. loans are approved based on the wholesale value of your vehicle not your credit score. It doesn’t matter what your credit score is, if you declared bankruptcy or are currently unemployed.

  • No credit checks or references are required.
  • Your vehicle will be used as collateral to a maximum loan amount of $5,000.
  • You are not required to own your vehicle outright

You must bring in the registered owner of the vehicle. This person must be willing to act as a co-signer on the loan and give written permission to pledge the vehicle as collateral.

About my loan

You can view your monthly statements, manage your account, make payments, choose paper/paperless statements, choose to receive payment reminders, reviewing your contract, and more on line via your Fixit online account. If you would like to receive statements by mail, you can opt out of paperless while logged in to your account by visiting your account preferences page.

  • Fixit Financial inc. charges a loan administration fee of $250.  If in the end you choose not to finance your car repairs with Fixit Financial, this amount is not charged.
  • The interest rate on loans is 29%.  The interest Fixit charges on loans is based on simple interest (vs. compounding) which means your interest is calculated on the principal amount borrowed (i.e.:   the amount you are financing).  In other words, you are not paying interest on interest, like credit cards.
  • You can find a complete listing of our terms and definitions in the Disclosures and Definitions section of the Fixit Financial website. It is important that you fully understand the terms of your loan transaction.

Service centre FAQ

About Fixit Financial Inc.

Fixit Financial provides secured car repair loans to individuals regardless of their credit scores or employment status. The maximum amount of available funds is determined by the Canadian Black Book ™ wholesale value of the customer’s vehicle. Fixit Financial approves car repair loans up to a maximum of $5,000 depending on the value of the car

  • Fixit Financial does not require references, background or credit checks from customers.
  • Fixit Financial loans are fully collateralized using the wholesale value of the customer’s car. The customer maintains ownership of the car.
  • Compared to other forms of financing including credit cards, our loans are “simple interest” vs “compound interest.”