Auto financing FAQs

Questions about Fairstone’s automobile financing program?

We’ve compiled the answers to your top questions about Fairstone’s auto financing program.

Can’t find the answer you’re looking for? You can reach us by phone or email – we’re ready to help.

Dealerships interested in partnering with Fairstone

Call us: 1-855-348-4060 ext. 1600235 or email

Hours of operation: Monday to Friday 9:00 a.m. – 6:00 p.m. EST

Fairstone automobile financing customer account inquiries

Call us: 1-855-348-4060 Select option 4 (Customer accounts)

Hours of operation: Monday to Thursday 8:00 a.m. - 9:00 p.m. EST    Friday 8:00 a.m. – 5.00 p.m. EST

How much commission can I earn as a dealer?

Dealers can earn up to 3% commission on the total amount financed

How does the application process work?

Simply compile the documents required from your customer, and we’ll take care of the rest. You can send us the documents through Dealertrack, or directly via fax or email.

Learn more about what documents are required here.


What proof or documents are needed for standard or salaried and hourly wage income verification?

Depending on the customer’s income type, it could be verified through many different sources. Here are some of the most common ways we verify income:
  • Two recent pay stubs
  • Bank statements from the last three months
  • NOA
  • T4
We may need further verification – we’ll let you know if we require additional documents or proof.


How much paperwork should I expect?

The paperwork required is consistent within the industry. We outline all the documents you need to submit here.


How long do approvals take?

We offer same-day approvals and quick funding. A Fairstone representative will be in touch after an application is submitted. 


How do you fund a purchase?

Funds are provided electronically.


Do you approve customers with any credit score?

We approve most customers, whether they’re prime or non-prime. However, a customer’s credit score is only one factor we look at when we provide an approval decision. We’ll also consider their income level, job stability and more.


Do customers require a down payment to finance a car?



What’s the oldest vehicle model that you finance? What is the maximum mileage?

We’ll finance vehicles that have a mileage of less than 200,000km and are up to nine years old.


Do you finance vehicles for businesses?

We currently only offer auto financing to personal consumers. However, if your customer wishes to personally purchase a vehicle that will be used to support their own business, we may be able to offer financing in this instance. 


Are there any pre-payment penalties for customers?

No, customers are free to pay off their loan early without penalty.


Our process

Help your customer apply for an auto loan in three simple steps.

1. Ask your customer to bring in the following documents:

  • Driver’s licence
  • SIN (if available)
  • Proof of income
  • Proof of address
  • Void cheque or PAD agreement
  • Insurance policy documentation showing Fairstone Financial Inc. as the lien holder

2. For dealers, please compile and prepare the following documents:

  • Credit Application
  • Signed Loan Agreement
  • Bill of Sale
  • Carproof report
  • Void Cheque
  • Insurance confirmation
  • Vehicle Registration
  • Aftermarket product details
  • Personal Reference Form
  • GPS (if applicable)
  • Two pieces of ID from client

3. Submit your documents

  • Submit the completed application through Dealertrack, or to us directly by email or fax

After we receive the completed application, Fairstone will contact you with an approval decision. Once your customer is approved, we’ll provide funding electronically.