Canada best car loans
in July 2024

Great financing for your new car

Car
  • Car
  • Truck
  • SUV
  • Van
Employed
  • Employed
  • Self-employed
  • Student
  • Retired / Pension
  • Employment Insurance
  • Other
Fair (550 - 650)
  • Good (650+)
  • Fair (550 - 650)
  • Poor (400 - 549)
  • Very Poor (399 or less)
  • Current Bankruptcy
  • No Credit / Unsure
AB
  • AB
  • BC
  • MB
  • NB
  • NL
  • NS
  • NT
  • NU
  • ON
  • PE
  • QC
  • SK
  • YT
4 Results

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Offers shown here are from third-party advertisers. We are not an agent, representative, or broker of any advertiser, and we don’t endorse or recommend any particular offer. Information is provided by the advertiser and is shown without any representation or warranty from us as to its accuracy or applicability. Each offer is subject to the advertiser’s review, approval, and terms. We receive compensation from companies whose offers are shown here, and that may impact how and where offers appear (and in what order). We don’t include all products or offers out there, but we hope what you see will give you some great options.

#1 Choice
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Smarter Loans

$2,000 - $100,000
Loan Amount
2.95% - 29.99%
APR Range
  • Minimum 18 years of age
  • Get matched with a lender
  • 1-5 year loan terms
Pros & Cons
Extra Details
Popular
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Dealerhop

$5,000 - $50,000
Loan Amount
6.99% - 29.99%
APR Range
  • Minimum 18 years of age
  • Minimum 300 credit score
  • 3-96 month terms
Pros & Cons
Extra Details
Best Value
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Loans Canada

Up to $50,000
Loan Amount
2.95% - 46.96%
APR Range
  • Minimum 18 years of age
  • Earn at least $1,800/month
  • 3-60 month terms
Pros & Cons
Extra Details
Apply Now

Car Loans 411

$500 - $50,000
Loan Amount
3.95% - 19.99%
APR Range
  • Good alternative for poor credit
  • Get your loan in a couple of days
  • No SIN required, no obligation
Pros & Cons
Extra Details

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FAQs about
Car Loans

Have a different question? Contact us today.

What is a good car loan rate in Canada?

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.

What affects car loan rates in Canada?

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.

What can you do to save on car loans in Canada?

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.

What should I look for in a good car loan deal?

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.

What credit score is needed for a car loan in Canada?

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.

Can I still get a car loan even if I have poor credit?

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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a car loan

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