DRIVE AWAY SOONER

Auto Loans & Financing

Get pre-approved before you visit the dealership. Compare rates to ensure you're getting the best deal on your next vehicle.

Pre-approvals give you dealership negotiating power
Options available for all credit backgrounds
Quick • Private • No obligation

Smart Match Finder

Smart Match

Answer a few quick questions and get matched in minutes.

Find My Match Start
Secure form

Top Picks

Our independent rankings of the Auto Loans & Financing.

Spring
Spring Financial Auto Financing (Private Sales)
Est. APR
12.90%
Loan Amount
Up to $75k
Loan Terms
36 - 84 Mo
Recommended Score
All Credit Types
Online Application No Early Repayment Penalty Bad Credit Considered Funds Deposited within 24h
Min Income: No strict min.
Origination Fee: 0%
Funding: Within 24h
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR 12.90%
Loan Amounts $0 - $75,000
Available Terms 36 to 84 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Within 24 Hours
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Online Application No Early Repayment Penalty Bad Credit Considered Funds Deposited within 24h
Highlights & Pros
  • Higher borrowing limit than standard personal loans ($75,000)
  • Designed specifically for private vehicle sales
Things to Consider
  • Minimum term starts at 36 months
  • APR can reach up to 35.00% for some borrowers

Representative Example: An example of borrowing costs on $5,000 financing with a 48 month term at 12.90% APR is a Weekly payment of $30.77.

Fairstone Bank
Fairstone Car and Auto Loan
Est. APR
Varies
Loan Amount
Up to $60k
Loan Terms
6 - 60 Mo
Recommended Score
All Credit Types
Flexible Repayment Options No Early Repayment Penalty
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - $60,000
Available Terms 6 to 60 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Online Application Flexible Repayment Options No Early Repayment Penalty Weekly/Bi-weekly Payments Branch Support Available
Highlights & Pros
  • Can be used to purchase vehicles from private sellers
  • No prepayment penalties for paying off the loan early
  • Flexible payment schedules (weekly to monthly)
Things to Consider
  • Vehicle must be 10 years old or less
  • Application must be finalized in person at a branch
TD Canada Trust
TD Private Sale Vehicle Loan
Est. APR
Varies
Loan Amount
Up to $50k
Loan Terms
Varies
Recommended Score
All Credit Types
Secured Loan Online Application Flexible Repayment Options
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - $50,000
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan Online Application Flexible Repayment Options Branch Support Available
Highlights & Pros
  • Lower interest rates compared to unsecured personal loans because the vehicle is used as collateral.
  • Convenient online application process for vehicles older than 5 years.
  • Flexibility to purchase from private sellers while still receiving big-bank financing protections.
Things to Consider
  • Borrowing limit is capped at $50,000, which may not be sufficient for premium used vehicles.
  • Requires a mandatory in-branch appointment for vehicles that are 5 years old or newer.
CIBC
CIBC Car Loan for Newcomers
Est. APR
Varies
Loan Amount
$7.5k - $75k
Loan Terms
12 - 96 Mo
Recommended Score
All Credit Types
Secured Loan No Early Repayment Penalty
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Welcome Offer

Save up to 10 cents per litre at participating gas stations with Journie™ Rewards.

Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $7,500 - $75,000
Available Terms 12 to 96 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan No Early Repayment Penalty Weekly/Bi-weekly Payments
Highlights & Pros
  • Zero Canadian credit history is required to qualify—a massive advantage for recent immigrants.
  • High borrowing limit of up to $75,000 easily covers the cost of reliable family vehicles.
  • Includes the same Journie Rewards fuel discounts as the standard car loan.
Things to Consider
  • Strictly limited to individuals who have lived in Canada for 5 years or less.
  • Requires applying in person at a partner dealership.
Scotiabank
Scotiabank Auto Loan
Est. APR
Varies
Loan Amount
Up to $200k
Loan Terms
Up to 96 Mo
Recommended Score
All Credit Types
Secured Loan Flexible Repayment Options No Early Repayment Penalty Skip-a-Payment Option Weekly/Bi-weekly Payments Online Account Management
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - $200,000
Available Terms N/A to 96 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan Loan Insurance Available Flexible Repayment Options No Early Repayment Penalty Skip-a-Payment Option Weekly/Bi-weekly Payments Online Account Management
Highlights & Pros
  • Massive maximum borrowing limit of up to $200,000 for high-end vehicles.
  • Built-in flexibility allows you to completely customize your payment schedule and skip one payment every year.
  • Available for both new vehicles and used vehicles up to 7 years old.
Things to Consider
  • Must apply through a participating dealership rather than directly online.
Scotiabank
StartRight® Auto Finance Program
Est. APR
Varies
Loan Amount
Up to $75k
Loan Terms
Up to 60 Mo
Recommended Score
All Credit Types
Secured Loan Flexible Repayment Options No Early Repayment Penalty Skip-a-Payment Option Weekly/Bi-weekly Payments Online Account Management
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - $75,000
Available Terms N/A to 60 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan Loan Insurance Available Flexible Repayment Options No Early Repayment Penalty Skip-a-Payment Option Weekly/Bi-weekly Payments Online Account Management
Highlights & Pros
  • Specifically underwritten for newcomers; absolutely zero Canadian credit history is required to qualify.
  • High borrowing limit of $75,000 is plenty for reliable family vehicles.
Things to Consider
  • Requires a minimum 10% down payment for Permanent Residents, and a steep 25% for Foreign Workers.
  • Only applicable for vehicles that are 4 years old or newer.
  • Strictly limited to individuals who have been residents of Canada for 3 years or less.
Alpine Credits
Alpine Credits Car Loan
Est. APR
Varies
Loan Amount
Up to $500k
Loan Terms
Varies
Recommended Score
All Credit Types
Secured Loan Fast Approval Online Application Bad Credit Considered
Min Income: No strict min.
Origination Fee: 0%
Funding: 7 Days
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - $500,000
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time 7 Days
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan Fast Approval Online Application Bad Credit Considered
RBC Royal Bank
RBC Auto Loan
Est. APR
Varies
Loan Amount
Varies
Loan Terms
12 - 96 Mo
Recommended Score
All Credit Types
Flexible Repayment Options No Early Repayment Penalty Soft Credit Check for Pre-approval
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms 12 to 96 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Flexible Repayment Options No Early Repayment Penalty Weekly/Bi-weekly Payments Online Account Management Soft Credit Check for Pre-approval Branch Support Available
Highlights & Pros
  • Industry-leading term length: choose an amortization from 1 up to 8 years to lower monthly payments.
  • Pre-qualification available with a soft credit pull that does not impact your credit score.
  • Newcomer Automotive Loan Program allows residents in Canada for <3 years to apply without Canadian credit history.
  • Seamless integration: apply and get RBC financing directly at thousands of partner dealerships.
Things to Consider
  • Financing is restricted to vehicles/units that are 10 years old or newer.
  • Promotional "special" rates are often restricted to specific partner manufacturers and new vehicles.
TD Canada Trust
TD Auto Finance (Dealership)
Est. APR
Varies
Loan Amount
Varies
Loan Terms
Varies
Recommended Score
All Credit Types
Secured Loan Flexible Repayment Options
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $0 - No Limit
Available Terms N/A to N/A months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan Flexible Repayment Options Rate Match Guarantee
Highlights & Pros
  • Direct access to dealer and manufacturer promotional financing rates.
  • Covers a wide range of lifestyle vehicles including boats and marine equipment.
Things to Consider
  • Loan terms and specific rates are often tied to dealership-specific agreements and inventory.
CIBC
CIBC Personal Car Loan
Est. APR
Varies
Loan Amount
From $7.5k
Loan Terms
12 - 96 Mo
Recommended Score
All Credit Types
Secured Loan No Early Repayment Penalty Skip-a-Payment Option
Min Income: No strict min.
Origination Fee: 0%
Funding: Varies
Go to Site
Secure & No Credit Impact
Welcome Offer

Save up to 10 cents per litre at participating gas stations (Pioneer, Fas Gas, Ultramar, Chevron) with Journie™ Rewards.

Rates, Fees & Terms
Rate Type Fixed
Typical APR Varies
Loan Amounts $7,500 - No Limit
Available Terms 12 to 96 months
Origination Fee 0%
Admin/Flat Fee $0
Avg. Funding Time Varies
Eligibility Requirements
Minimum Income No strict minimum
Credit Score Required No Minimum
Minimum Age Age of majority
Residency Status Canadian Resident
Included Features
Secured Loan No Early Repayment Penalty Skip-a-Payment Option Weekly/Bi-weekly Payments
Highlights & Pros
  • Extended repayment terms up to 8 years (96 months) to help keep monthly payments manageable.
  • Rate approval is guaranteed for 30 days, giving you time to shop for the right vehicle without rate anxiety.
  • Skip up to two payments per year to help manage unexpected financial emergencies.
  • Includes a highly valuable Journie Rewards gas discount to lower your everyday driving costs.
Things to Consider
  • Must apply directly at a partner dealership; there is no direct-to-consumer online application process.
  • Financing is restricted to vehicles that are 10 years old or newer.

Will you get approved?

Stop guessing. Use our Smart Match tool to see if you qualify for this rate without impacting your credit score.

Start My Match
< 2 Mins Secure
Editorial Best Picks

Best auto loans in Canada: what this page is really helping you find

The best auto loan is not automatically the one with the lowest advertised rate. For many shoppers, the real best option is the one that balances rate, term length, fees, lender flexibility, vehicle eligibility, and a monthly payment that still feels comfortable after insurance, fuel, maintenance, and taxes.

This page is designed to help you compare top picks with a clearer view of total value, not just promotion headlines. It is especially useful if you want a short list of strong options before going deeper into a full application.

What makes a top pick

  • Competitive pricing and transparent cost structure
  • Reasonable term flexibility without over-stretching the loan
  • Solid fit for common buyer needs like new or used vehicles
  • Good overall borrower experience and clarity
How RateBuddy Evaluates Picks

Our ranking methodology, in plain English

We want this page to feel useful and credible, so the ranking framework should reward real borrower value rather than flashy marketing alone.

Rate competitiveness Term structure Total borrowing cost New vs used flexibility Transparency Borrower friendliness

Pricing and total value

We look past the headline rate and consider how the overall borrowing package may feel to the user across the full term.

Fit for real shoppers

Strong picks should work for practical buying scenarios, whether the borrower is shopping for a new vehicle, used vehicle, or a more affordable monthly payment.

Clarity and trust

We give more weight to offers that are easier to understand and compare, because confidence matters just as much as pricing.

Best For Who?

Which kind of auto loan shopper are you?

Different “best” picks make sense for different people. This section helps visitors quickly understand what they should prioritize before clicking into specific lenders.

Lowest-rate shoppers

Usually best served by comparing the advertised APR, fees, and total repayment cost together, not the rate in isolation.

Used-car buyers

Should pay close attention to vehicle age, condition, lender restrictions, and whether the financing still makes sense for the car’s value.

Budget-focused buyers

Need an affordable payment, but should still avoid stretching the term too far just to make the monthly number look easier.

Dealer-vs-bank comparers

Often benefit from checking dealership financing against a direct bank or credit-union option before committing.

First-time car buyers

Usually need more help understanding the real total cost beyond the vehicle sticker price and promotional pitch.

Quick-decision shoppers

Should focus on transparency and clarity so a faster path does not become a more expensive mistake later.

Total Cost Matters

Why the “best” auto loan is not always the one with the lowest monthly payment

A lower monthly payment can look attractive, but it may come from a longer term that increases total interest and raises the risk of staying underwater on the vehicle longer than expected.

Shorter term mindset

A shorter loan term usually means a higher monthly payment, but often lower total interest and a faster path to owning the vehicle outright.

Longer term trade-off

A longer term can reduce monthly pressure, but it may increase the full cost of borrowing and make it easier to carry negative equity for longer.

Best-practice framing: compare rate, fees, term, total repayment cost, and how long you realistically expect to keep the vehicle.
Smart Shopping Checklist

What to check before choosing a top pick

Even on a best-of page, the final decision should still be personal. This checklist helps keep the decision grounded in affordability and real-life fit.

Compare these first

  • APR and financing fees
  • Total repayment cost over the full term
  • Whether the loan fits a new or used vehicle
  • Prepayment flexibility and any penalties
  • How comfortable the payment feels after insurance and running costs

Watch-outs

  • Choosing based only on monthly payment
  • Assuming the first dealer offer is the lowest available
  • Adding too many extras into the financed balance
  • Signing before reading the full disclosure carefully
  • Ignoring how long you plan to keep the vehicle
Popular Questions

Best auto loan FAQs

Helpful answers for people comparing top auto loan options in Canada.

Usually a mix of competitive pricing, clear terms, reasonable flexibility, total-cost value, and a strong fit for the type of vehicle and borrower situation.

Yes. Comparing dealership financing with direct financial-institution options can give you a better benchmark before you commit.

Not always. A lower monthly payment may simply come from a longer loan term, which can increase total interest and keep you in debt longer.

Review the rate, fees, payment schedule, total amount financed, loan term, and the full disclosure statement carefully before signing.

They can be. Longer terms often lower monthly payments but may raise total interest cost and keep you in negative equity longer if the vehicle loses value faster than the loan balance declines.

Often not. In most provinces and territories, there is no cooling-off period for car loans and lease agreements, so it is important to be ready before signing.

Find your perfect Auto Loan

Compare top Canadian lenders securely. No impact to your credit score.

$
Please enter a valid amount.
Please select your province.
Please select an estimated score.
Please select an income range.
Please enter a valid first name.
Please enter a valid last name.
Please enter a valid email address.
Please enter a 10-digit phone number.

Check your email for the 6-digit code

Incorrect code. Please try again.