Car loans are the workhorse of family lending — mid-sized, urgent, and almost never written down. A family car loan agreement takes ten minutes and outlasts the car.
For a loan this size, a lawyer’s $450+ fee often exceeds a year of the payments. Here it’s free to draft and $29 once to sign.
A car loan happens fast: the old car dies on a Tuesday, work starts Monday, and a parent or sibling covers the gap by Friday. There’s no time for paperwork — or so it feels. But the speed is exactly the problem: terms agreed in a rushed phone call are the ones nobody remembers the same way in year two.
Ten minutes with the builder fits inside even a Friday emergency. The agreement can be drafted, sent, and signed on two phones before the dealership finishes the plates.
Drafting is free — build it, tweak it, send it. One $29 fee at signing (the borrower’s by default) produces the sealed PDF with both e-signatures and a verification certificate. On a $12,000 loan, that’s a quarter of one percent for a document that keeps the next five years of family dinners comfortable.
Schedule set, both signed, everyone drives away happy.
Create my loan agreement →The borrower's, in the usual arrangement: they own and insure the vehicle, and they owe you the money. Registering a lien on the vehicle (like a dealership would) is possible under provincial personal-property security systems, but that's registry-and-lawyer territory — Lend Right documents the unsecured loan.
The debt survives the car. That's worth saying out loud before you lend, and it's implicit in a proper agreement: repayment is owed regardless of what happens to the vehicle. Insurance proceeds often become the natural source of a payout.
Whatever the borrower's budget genuinely supports — $300–$450 a month over three to four years is a common shape. The builder lets you set any amount and term, with or without interest (under the 35% APR federal cap).
Yes, and not mainly for court. Small loans between family go wrong through drift, not default — a signed schedule means nobody has to remember, remind, or resent. It also sets the precedent for the next, bigger ask.
Who runs this: Lend Right is a product of RULE8 Inc. · Reviewed July 3, 2026 by the Lend Right Editorial Team.
Based on: the federal 35% APR interest ceiling (Criminal Code s. 347); each supported province’s limitation and e-commerce legislation; the 2026 CRA prescribed rate (3%). Vehicle lien registration is governed by provincial personal-property security regimes and is outside this tool.
What this is: self-help drafting for unsecured person-to-person loans — general information only, no legal or tax advice, no lawyer-client relationship, Quebec not yet supported.
On e-signing: valid for ordinary contracts across supported provinces; the finished agreement is a tamper-evident PDF recording both signers and timestamps. Strong evidence — the loan’s facts decide the rest.
Lend Right provides self-help document automation, not legal advice, and no lawyer-client relationship is created. For complex situations, consult a licensed lawyer in your province.