Make the most of the 2026 rates! Find out if you qualify before you buy!

Get approved for the vehicle that works for You.

A completely free service to help you find the perfect car at the perfect price.

Apply now Try the calculator

Current Lowest Rate

Used vehicle

6.73%On approved creditGet started

We find the best deal at the best bank so you don’t have to.

Find out what loan rates you qualify for now!

Auto Loans Rates in Canada

We are approved with the lenders below and shop your application across them. The rate any one of them offers depends on your credit profile, income, term and vehicle.

Provider	Range	Actions
Prime
Bank of Montreal	8.99% – 10.99%OAC	See Rates
CIBC	6.73% – 10.99%OAC	See Rates
Desjardins	6.99% – 10.49%OAC	See Rates
General Bank	7.29% – 11.49%OAC	See Rates
National Bank of Canada	7.49% – 9.99%OAC	See Rates
Royal Bank of Canada	7.49% – 9.99%OAC	See Rates
Scotiabank	7.99% – 11.73%OAC	See Rates
Non-prime
AutoCapital Canada	10.49% – 23.99%OAC	See Rates
Axis Auto Finance	9.99% – 29.99%OAC	See Rates
Eden Park	8.99% – 23.99%OAC	See Rates
iA Auto Finance	10.99% – 29.99%OAC	See Rates
Scotia Dealer Advantage	10.99% – 29.99%OAC	See Rates
Source One	8.99% – 29.99%OAC	See Rates

Illustrative credit bands (not a quote)

Credit range	Interest rate range
Excellent	6.99% – 7.98%
Good	7.98% – 12.99%
Fair	13.49% – 22.99%
Rebuilding	20.99% – 20.99%

OAC — on approved credit. Ranges are indicative, not an offer.Rates updated: July 2020

The lenders we work with

Choose a lender to see its rates, terms and contact details.

Prime

National Bank of Canada

Royal Bank of Canada

Scotiabank

Non-prime

Scotia Dealer Advantage

Source One

Car Loan Calculator

Work out what a payment actually looks like before you shop. Enter a price, term, down payment and rate, and see the payment and total interest.Try the calculator

How do lenders determine my interest rate?

Your credit profile is the biggest single factor, but it is not the only one. Canadian lenders also weigh your monthly income, the term you choose, and the vehicle itself.

Credit score

Your credit history tells a lender how you have handled borrowing before, and it moves the rate more than anything else on this list. Knowing your score before you apply means no surprises — checking it yourself does not affect it.

Income

Lenders look at monthly income to judge what you can carry. As a working guideline, we do not put people into a car payment above roughly 18% of total monthly income.

Loan term

Longer terms tend to carry higher rates; shorter terms tend to carry lower ones, with a larger payment. Terms commonly run 12–96 months, and we suggest aiming near 60 months (5 years) where it fits your budget.

The vehicle

The vehicle sets both how much you need to borrow and how much security the lender has behind the loan. Age, mileage and resale value all feed into the rate you are offered.