TD Bank
TD Bank is Canada's second-largest bank offering competitive personal loans with flexible terms and fast online approval.
$2,000 CAD – $50,000 CAD
APR from 6.99%
Approval: 1-2 business days
Car Loans Canada – Finance Your Next Vehicle
Comparing 6 offers. Updated April 17, 2026.
Best Offers – Car Loans 2026
RBC Royal Bank
RBC Royal Bank is Canada's largest bank offering personal loans with competitive rates and a fully digital application process.
$1,000 CAD – $50,000 CAD
APR from 7.99%
Approval: 24 hours
Scotiabank
Scotiabank offers flexible personal loans with competitive rates, optional payment protection insurance, and a fast online application process.
$1,000 CAD – $50,000 CAD
APR from 7.49%
Approval: 1-3 business days
BMO Bank of Montreal
BMO Bank of Montreal offers personal loans with a fast online process, fixed monthly payments and no hidden fees.
$1,500 CAD – $35,000 CAD
APR from 8.49%
Approval: 2-3 business days
CIBC
CIBC offers personal loans and home equity solutions with high loan amounts up to $200,000 and competitive fixed rates.
$3,000 CAD – $200,000 CAD
APR from 8.99%
Approval: 1-2 business days
Fairstone
Fairstone specializes in personal loans for Canadians with fair-to-good credit, offering fast approval and flexible repayment options.
$500 CAD – $50,000 CAD
APR from 19.99%
Approval: 24 hours
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.