Terms and Conditions

Financial Practices

AAR Financial offers personal loans ranging from $500 to $15,000 with terms payable from 12 – 48 months. We offer an APR of 39.9%, and the loan payment includes applicable provincial taxes. Our insurance coverage is optional at an additional fee although similar services may be obtained from other sources. AAR Financial does charge our clients a late fee. Payments that are not honored due to NSF (non-sufficient funds) will be assessed a $90 fee in accordance with the fees charged by the client’s financial institution. Loans funded by cheque can be mailed directly to your home or are available for pick up at your closest AAR Financial branch.


Collections Practices

AAR Financial contacts customers with outstanding payments as soon as possible. If you fail to make a payment when due, the unpaid principal, and accrued interest will immediately become due and payable at our option and with prior notice to you. You are responsible for any legal costs incurred to collect upon any amount owing and/or incurred to protect or realize the security given for the loan. We contact our customers who are in arrears through various communication efforts which include but are not limited to telephone, email and postage mail as well as we may work with other third parties in order to assist with collections.


Rates and Fees

Indication rates only are subject to change based on the credit quality and a number of qualifying requirements. AAR Financial is not obligated to provide these indication rates. Interest rates and fees are at the exclusive discretion of AAR Financial. Loan arrangement fees may be charged. This is a high-risk business in the segment of the sub prime industry. Regarding fees, please see us for details.

The applicable laws of Canada and of the province in which you obtain the loan govern this agreement. Any dispute involving this agreement shall be determined by binding arbitration under the applicable arbitration laws.


Consent

It is understood by you that your consent is effective from the date hereof and shall continue for as long as is necessary to fulfill the purposes for which this information was collected and to comply with applicable laws. Your consent remains valid after the termination of our relationship with you wherein your obligation has already been settled and all the claims of AAR Financial, Inc. have been satisfied. Social Insurance Numbers, birth dates and/or other identifiers, if collected, may only be used to verify your identity. If you have provided personal information relating to a third party, you are responsible for obtaining consent from that third party.

When you affix your signature(s) in any and all of our loan documents and/or agreements you consent to the collection, use, and disclosure of your personal information for the purposes of the following: obtaining a credit report or related financial history; verifying the information that you provided with this application; for the administration, servicing, and enforcing of your loan; for the collection of outstanding debts; for meeting legal, regulatory, security, and processing requirements, and otherwise, with your consent as described or as permitted or as required by law. This includes our affiliates, subsidiaries, and related organizations.

As well, you consent to receive transactional messages and account alerts by telephone, SMS (text messages), voice messages, and email based on the contact information you have provided. Unless you have opted out by calling 204.224.0701 we may also use your personal information to offer you future incentives and/or further information and advertising promotions regarding our products and services. If you have any questions, please contact our Privacy Officer at 204.224.0701. Our Privacy Policy can be viewed online at www.aarfinancial.ca.

Furthermore, you hereby give consent that we may disclose your personal information to, and collect your personal information from affiliates, subsidiaries, credit bureaus, potential creditors and reporting agencies, businesses and financial institutions with whom you have had or may have a financial relationship and other references you have provided in support of this application for the purposes described above.


Renewal

After you have paid and settled a certain percentage of your loan, we could offer you a loan increase. You may qualify to re-borrow up to $15,000 based on your credit and payment history.