Well... my reading of the statutes says there is a lot of latitude. For example, item (c) of 162.1 says:
...nothing in this section shall apply...
(c) to any loan made to such a director who is engaged in the full-time employment of the company or of a corporation that is deemed to be related to that company, as the case may be, where the company has at a general meeting approved of a scheme for the making of loans to employees of the company and the loan is in accordance with that scheme; or
What do you think? Section (a) says loans are OK if they enable the director to perform duties... one would normally think of travel expenses and such, but perhaps a car falls under that purview.
Section (b) is all about a house and not applicable to this conversation.
Section (c) seems to leave the door wide open. If the shareholders, at an AGM/EGM approve a scheme for making loans to directors, then it seems that the door is wide open. At least that's the way I see it.
You just need to get a majority of shareholders to approve the loan.