Skip to main content
Family kayaking on a lake at sunset




Whether it's a new car, boat, or want to tackle that reno you've been putting off, we can find the right solution for you


Line of Credit

Choose between a Personal Line of Credit or Home Equity Line of Credit depending on your situation

Money/Coins in funnel lowering debt - Debt Consolidation

Debt Consolidation

Life happens. Sometimes you need a loan to help you get back on track and improve your credit score

Graduation cap on top of coin

Student Line of Credit

Graduate with as little debt as possible. A Student Line of Credit can be used for tuition, books, and living expenses



Car & Pleasure Craft

Financing cars and more:

  • New or Used Car
  • RV or Trailer
  • Boat or Jet Ski
  • Snowmobile

Renovations & Contruction

At Motor City, we can finance your:

  • Home Renovation
  • Garage
  • Pool

Line of Credit

A Line of Credit can be used for many kinds of life events:

  • Weddings & Honeymoon
  • Family Trip
  • Milestone Birthdays

Student Line of Credit

The Scholar Power Line of Credit can help finance your post secondary education:

  • Students can borrow $10,000 per school
    year with a lifetime maximum of $50,000*
  • Can be used for tuition, books, and
    living expenses

Debt Consolidation

Repair your credit by:

  • Combine all your debt, credit cards,
    line of credit, and other loans into one
    manageable payment


Use available credit to save:

  • Top up your RRSP with a 12 month loan.
    Then pay it back throughout the year at a
    great interest rate

Flexible Borrowing Solutions


Dreams can come true with a little planning and the help of a Motor City Personal Loan. Personal loans can be a viable option for a variety of reasons and are typically used for specific purchases such as home renovations, furniture, cars and pleasure vehicles, or to consolidate other debts. Most personal loans range from $100 to $50,000 with a term between 12 and 60 months. With a Motor City Personal Loan, you can expect the following:

Competitive Interest Rates

Repayment terms from 12 to 60 months

Repayment options: monthly, semi-monthly,
bi-weekly or weekly

Life, Disability and Critical Illness Insurance can be added to your personal loan


Calculate Your Loan Payment or Amount


A Line of Credit is a type of loan that works similar to a credit card in the sense that you have a limit that you can use for any purpose, as needed, and you only pay interest on the amount that you use. The big difference between a LOC and a credit card is the interest rate. Interest rates on a LOC are typically a lot lower than credit card interest rates.

When choosing the Line of Credit that's right for you, there are two types to choose from:

  • Personal or Unsecured - Based on your income and credit rating
  • Home Equity Line of Credit (HELOC) or Secured - Based on your assets

Personal Line of Credit

A personal line of credit is unsecured, so your credit score and a good history of repaying debts in a timely fashion are what we mainly use to determine the limit. Personal lines of credit are used mostly for small home remodelling projects, but could help pay for a great vacation, buying new furniture, and more. You can spend the money on whatever you want as long as you don’t exceed the approved line of credit limit.

Meritline Home Equity Line of Credit

A Meritline lets you use the equity in your home as security, which provides our lowest borrowing rate. With one application and one-time legal and appraisal fees, you can increase your buying power.

This secured personal line of credit has no maintenance fees. Once the Meritline has been approved, it provides a long-lasting solution for your future borrowing needs. Use it for anything you like – home renovations, vehicles, your child’s education, a wedding, even investments.


With bill payments, debit transactions, preauthorized payments, and cheques all coming from your account, sometimes your balance isn’t what you think it is. In the event of a shortfall, overdraft protection provides you access to available funds, up to an approved limit, to avoid the inconvenience and cost of an overdraft and/or returned payment.

At Motor City, Overdraft Protection works by attaching a Personal Line of Credit to your chequing account. Once you do this, your account is allowed a negative balance ("authorized overdraft") within your personal approved limit. Just like a regular LOC, you only pay interest on what you use. Think of it as backup.




On Approved Credit. Interest rate, term, borrowing amount are determined on an individual basis.
*Scholar Power Line of credit must have a guarantor and is converted to a personal loan one (1) year after student completes or stops post-secondary education. Loan is repayable at same low interest rate for a period of five (5) years.