Using a Personal Loan for Moving Expenses
Between movers, a deposit on a new place, and replacing anything that doesn't survive the move, relocating costs more than most people expect. A personal loan covers the move upfront so you're not scrambling to pay multiple parties at once. It's one of several reasons Canadians borrow that we cover in detail.
What It Typically Covers
- Moving company or truck rental
- First and last month's rent or a down payment
- Packing supplies and storage
- Utility hookup and transfer fees
Eligibility Requirements
- 18 years or older (19 in BC, NB, NL, NS, NT, NU, and YT)
- Canadian citizen or permanent resident
- Valid Social Insurance Number (SIN)
- Active bank account in your name
- A regular source of income
How Much Do You Typically Need?
For moving expenses, borrowers often look at around $1,500 — though the right amount depends on your specific situation.
Pros
- Fast approval — often within minutes
- Soft credit check only, so checking rates doesn't hurt your score
- Repayment term sized to the amount, keeping payments manageable
- Available to a wide range of credit profiles
Things to Consider
- Get moving quotes well in advance — costs can spike significantly during peak moving season (May to September).
- Compare a full-service mover against a rental truck plus your own labour if you're trying to reduce costs.
- Factor in a buffer for unexpected costs like extra storage or delayed possession dates.
How to Apply for a Moving Expenses Loan
Step 1
Apply in 2 minutes
Tell us you're covering moving expenses and a bit about your situation. No paperwork.
Step 2
Compare offers
See real offers from vetted lenders, matched to your credit profile.
Step 3
Get funded
Accept an offer and funds typically land within 24 hours.