Car loans, leases and financing in Canada
Financing is where most of the cost of a car hides. A small change in term length or rate can add thousands of dollars over the life of a loan. These guides explain how Canadian car loans and leases are structured, what lenders look at, and which terms deserve a second read before you sign.
Car Down Payment in Canada: How Much Should You Put Down?
There is no single legal minimum down payment for a car in Canada, but lenders may require one, especially with weaker credit.
Getting a Car Loan With Bad Credit in Canada
You may still get a car loan in Canada with bad credit, but expect higher interest rates, larger down payment requirements and tighter terms.
Car Loans in Canada: How They Work and How to Compare Offers
A car loan in Canada is a secured loan repaid in regular instalments, with the vehicle as collateral.
Car Loan Interest Rates in Canada: How They Are Set and Calculated
Your car loan rate reflects the lender's costs, your credit profile, the loan term and the vehicle.
Car Loan Length: 60, 72 or 84 Months Compared
A longer car loan lowers your monthly payment but raises the total interest you pay and increases the risk of owing more than the car is worth.
Car Loan Pre-Approval in Canada: What to Know First
A car loan pre-approval is a lender's conditional offer that tells you how much you may borrow and at what rate before you pick a vehicle.
GAP Insurance in Canada: Is It Worth It?
GAP insurance may cover the difference between what your insurer pays for a written-off or stolen vehicle and what you still owe on your loan or lease.
Lease Buyout in Canada: Your Lease-End Options
At the end of a Canadian lease you can usually return the vehicle, buy it for the residual price in your contract, or move into a new lease.
Leasing vs Buying a Car in Canada: Which Costs Less?
Leasing usually means lower monthly payments, a new car every few years and kilometre limits, but you build no ownership.
How to Refinance a Car Loan in Canada
Refinancing replaces your current car loan with a new one, ideally at a lower rate or with terms that fit your budget better.
Other topics
- Buying a carNew, used, private sale, imports and dealers.
- Taxes & paperworkSales tax, registration and provincial rules.
- Selling & your rightsPrivate sales, trade-ins and buyer protection.
- Owning a carInsurance, winter care and running costs.
- Vehicle typesEVs, hybrids, SUVs, trucks and winter fitness.