New to Canada? let us guide you in buying your first car
With our Car Loan program for Newcomers, you can purchase a car in Canada effortlessly, even without a Canadian credit history.
Purchase a vehicle from any vehicle , any marketplace.
Canada’s First Private Vehicle Financing Platform
Financing: Any Used Vehicle, Any Marketplace
A vehicle represents more than just transportation; it’s a gateway to freedom and convenience. For those new to Canada, having a car is vital for settling in and navigating daily life. To support your journey, we provide adaptable and accessible financing solutions, making it easier for you to drive away with your first car in Canada.
If you're selling for more than you owe, we'll pay your equity as soon as your car is picked up*.
Financing: Any Vehicle, Any Marketplace
Secure financing for vehicles from TurboBid Auctions and private sellers across all marketplaces.
Browse your favorite used car website with confidence. You can make payments to any seller on any marketplace, and our services cover all provinces and territories across Canada.
Users can apply for financing on all TurboBid Auctions vehicles through the TurboBid dashboard. We also offer financing for private seller vehicles on all marketplaces across Canada. Apply below.
Complete your financing online and track your progress through the TurboBid dashboard. Get behind the wheel of your dream car effortlessly.
Discover your budget with
our Vehicle Loan
Calculator
Estimate your monthly or biweekly payments
Three Steps to Buying a Car in Canada
- Ensure you have a valid Canadian driver’s license before getting behind the wheel. Some provinces require a Canadian license, while others may accept an International Driving Permit (IDP). Keep in mind that driving regulations may differ from those in your home country. Driving guides are available at service centers, online, and in stores. For more details, consult the appropriate resources. Note that financing options are only available to those with a Canadian driver’s license.
- Purchase car insurance. Secure auto insurance before you hit the road with your new vehicle. It’s essential to have insurance coverage in place prior to driving. You can easily acquire a policy through insurance providers either by phone or online, or you can arrange it through the dealership. Typically, you’ll finalize the insurance after purchasing the car, as you’ll need to provide details about the vehicle.
- Register your vehicle. This must be done shortly after your purchase at a provincial service office. Dealers will often do this for you, so be sure to clarify with your dealership. TurboBid Financing assists with vehicle transfer under its financing program.
- Vehicle Warranty .Protect your vehicle with a monthly warranty from TurboBid, starting at just $49.95. No inspection is required, and there’s no long-term commitment—cancel anytime. Enjoy instant coverage as soon as you sign up.Learn more here
Vehicle Choice
- How many people will typically be using the vehicle?
- What are my usual driving distances?
- How crucial is fuel efficiency for me?
- Do I need a vehicle that can tackle rough or uneven terrain?
- Are there any must-have features or amenities I want?
- What is my total budget for buying a vehicle?
- What other financial aspects should I consider?
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- Insurance premiums
- Parking fees
- Routine maintenance and repairs
- Registration costs
- Loan installments
| NEW | USED | |
|---|---|---|
| Where to buy | Can be purchased directly from dealerships or manufacturers. | Purchase from any marketplace place across Canada. |
| Payment | Can be leased, financed, or bought outright. | Explore financing options for any vehicle across various marketplaces and compare offers until you find the best deal. Introducing Canada’s first private vehicle financing platform, TurboBid.ca. |
| Price | More expensive than used. Manufacturers may have incentive programs. | Browse and negotiate directly with the seller while we handle your financing application and make the payment on your behalf. |
| Trade-In/Resale Value | Trading in and selling will be easier. New vehicles depreciate faster, particularly over the first one to two years. | Have already experienced most of the depreciation and will retain more value. Older vehicles may not be as attractive to prospective buyers. |
| Warranty | Normally includes a factory warranty including bumper-to-bumper coverage and roadside assistance. | Purchase vehicle warranty on a monthly subscription with TurboBid here |
Frequently Asked Questions
TurboBid
TurboBid uses extensive data, machine learning, and artificial intelligence to deliver comprehensive AI inspection reports, an automated escrow process, and transport booking options—all in one convenient platform.
The fee for TurboBid Escrow is $199. If the vehicle has an outstanding loan, there is an additional $99 fee charged by TurboBid to handle the loan settlement during the sale.
Fees can be divided equally between parties or covered entirely by one. Our fee is due upon the completion of the transaction, and we do not impose any cancellation fees.
TurboBid employs advanced third-party identity verification technology to authenticate the identity of sellers. This process is followed by cross-referencing public records, seller-provided information, and records from the Ministry of Transportation to validate the seller’s ownership of the vehicle.
Our commitment to confidentiality is paramount: we do not share the seller’s personal information with the buyer, nor do we disclose the buyer’s personal details to the seller. However, upon the completion of a sale, the buyer will receive the current title document, which includes the seller’s name and address.
The Escrow process on TurboBid works by holding funds securely until both the buyer and seller fulfill their obligations in the transaction. This ensures that both parties are protected during the exchange of goods and payment.
TurboBid’s Escrow service accepts bank transfers and credit card payments. Please note that credit card payments are limited to a maximum of $2,000 per transaction.
Funds during the Escrow process on TurboBid are held by TurboBid’s designated Escrow service provider, ensuring impartiality and security for both parties.
Yes, there are fees associated with using Escrow on TurboBid. Typically, these fees are negotiated and agreed upon by the buyer and seller as part of the transaction terms.
In case of a dispute during the Escrow process on TurboBid, both parties are encouraged to communicate and resolve the issue amicably. If a resolution cannot be reached, TurboBid may intervene to facilitate a fair resolution.
When a seller lists their vehicle on TurboBid and a buyer accepts the price, our verification process typically completes within 5-10 minutes. If there’s an outstanding loan, we contact the lender, potentially delaying the transaction based on their response time.
Payments are usually verified promptly, including weekends, but may take up to one business day depending on the buyer’s bank. Transactions over $50,000 require payment via wire transfer. After payment verification and e-signing of the bill of sale by both parties, transactions are typically approved within 15 minutes.
We utilize our AI damage inspection report at the time of pick-up and delivery to ensure all conditions are met.
Escrow is recommended for all transactions on TurboBid to ensure security and peace of mind for both parties. However, buyers and sellers can discuss and agree whether to use Escrow or not.
TurboBid partners with reputable Escrow service providers that adhere to strict security protocols to safeguard funds held in Escrow. Additionally, TurboBid implements encryption and secure transaction processes to protect user information.
Yes, inspections are conducted using TurboBid’s AI damage inspection feature. This can be completed conveniently from any smartphone and typically takes less than 5 minutes. Both the buyer and seller perform this inspection during the escrow process to ensure transparency and accuracy in assessing the vehicle’s condition. More information on inspections can be found here.
Buyers and Sellers are verified on TurboBid once the Escrow process is initiated to ensure all parties are legitimate. Furthermore, all TurboBid listings are verified before they’re uploaded onto our platform. This dual verification process helps maintain the integrity and security of transactions on TurboBid.
TurboBid automatically generates a bill of sale for each transaction. This document is electronically signed by both buyers and sellers and can be downloaded from their dashboard at any time. The bill of sale explicitly states that the vehicle is sold in its current “as is” condition, unless otherwise specified.
