Car Loans Canada – Finance Your Next Vehicle

Car loans or auto financing is a type of secured loan used to purchase a vehicle. In Canada, car loans are available from banks, credit unions, and dealerships.

Car Loan vs. Lease

With a car loan, you own the vehicle outright once all payments are made. With a lease, you return the vehicle at the end of the term. Car loans are generally better if you plan to keep the vehicle long-term.

Best Car Loan Rates in Canada

Car loan rates in Canada vary from around 6.99% APR at major banks to 15%+ at specialized auto lenders. Your credit score significantly affects your rate.