Half the friction in a used-car loan application is paperwork. Show up with the right documents and the file moves in hours. Show up missing one, and you might lose a day waiting for it.
This is the complete Ontario checklist for 2026 — what every lender wants, what specialist lenders ask for on top of that, and what to do if your situation does not fit the standard list.
The standard four (every lender asks for these)
These are non-negotiable. Have these ready before you apply:
- Valid Ontario driver's licence (G2 minimum, G ideal). Photo of front and back is fine for the initial application.
- Proof of income — most recent 2 pay stubs, OR last 90 days of bank statements showing direct deposit.
- Proof of residence — a utility bill (hydro, gas, internet, cell), lease agreement, or property tax bill from the last 90 days.
- A void cheque or pre-authorized debit form from your bank — used to set up payments.
For self-employed applicants
Self-employed files are very approvable but the documents are different. You will need:
- Two most recent T1 Generals (federal tax returns) with Notice of Assessment from CRA.
- Business bank statements — last 90 days.
- If incorporated, a copy of your business registration and either T2 returns or a P&L statement.
- Any current contracts or invoices showing ongoing revenue help.
For newcomers to Canada
Newcomer programs are common across Ontario lenders. The documents shift:
- Permanent Resident card, Work Permit, or Study Permit.
- Letter of employment on company letterhead (or your offer letter if you just started).
- First Canadian bank statement showing income deposit (even 30 days helps).
- Proof of address in Canada — lease, utility bill, or settlement worker letter.
For applicants with bad credit
Subprime lenders want extra confidence that you can pay. On top of the standard four, expect to provide:
- A bigger down payment ($1,000–$3,000 depending on the file).
- A reference letter from your landlord or property manager.
- Proof of any recent on-time bill payments (cell phone, internet) showing you can handle recurring debt.
- Sometimes a co-signer — but only if they have meaningfully better credit than you. A weak co-signer can hurt.
For ODSP, OW, CPP, or pension income applicants
Lenders do approve loans on government income, but you need to document it properly:
- Most recent benefits statement showing monthly amount.
- 90 days of bank statements showing the deposit.
- If on disability, a doctor's letter confirming long-term status can help.
What to do if you cannot produce a standard document
It happens — you just started a new job, you moved last week, you are paid in cash, your name is not on the utility bill. None of these are dealbreakers. The trick is to tell us upfront so we can route your application to the right lender from the start.
A broker like 905 Autos sees every variation of this. We know which lenders accept a letter from a new employer in lieu of paystubs, which ones take a parent's utility bill plus a landlord letter, and so on.
Get started
Have your documents ready? Apply online — most applications take less than three minutes and you will hear back the same business day.