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Great financing for your new car
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The average car loan rate in Canada is 4.38%. This doesn't mean that you will have this exact rate though. Your rate will be determined by your certified lender partner at the time of your agreement.
Car loan rates are determined by several factors, such as your credit score, yearly income, current debts, the loan amount and loan term you wish to borrow for. Generally speaking, the higher your credit score is, the lower your car loan interest rate can be. Lenders also look at your debt to income ratio to make sure that your payments are reasonable based on your monthly income.
You are already taking the first steps to saving on car loans. When you apply with Comparewise, we automatically match you with the best deal for your situation.
Comparewise will help you find the best car loan deal for your situation. Apply for free online and you’ll be matched with a certified lender who can offer the best car loan deal for you.
While our lenders pride themselves in offering financing solutions to a wide range of credit situations, most clients have a credit score in the mid-600s in Canada. A credit score between 630 and 650 is usually what the average buyer will have. However, we encourage you to apply to find a financing solution no matter what your credit score is.
You can still get a car loan if you have poor credit. If you have poor credit, you should apply with Comparewise for a car loan and we will match you with a certified lender that will provide you a car finance deal for your circumstances.
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