Home / Lenders
The banks, credit unions and specialist finance companies that write Canadian car loans, and what each one of them will tell you about its rates before you apply. Our partner dealerships hold the lender agreements; AutoMart is not a lender, holds no agreement with any institution on this page, and makes no credit decision.
Bank of Canada figures as of Aug 19, 2026; lender terms last checked Aug 20, 2026.
Each card shows one thing above everything else: whether that lender publishes a rate on its own website. Where it does, the figure is the lender's, copied from the page linked at the bottom of the card and dated with the day it was read. Where it does not, the card says so and names where the rate is actually set instead. No number on this page is an estimate, an average of offers, or a figure taken from a comparison site.
Two answers look similar and are not. Not published means the lender's rate page was read and carries no consumer car loan rate. Not confirmed means the page could not be read at all — a couple of these sites refuse automated requests — so we do not know what it says, and we would rather tell you that than fill the gap.
Province matters as much as the rate. A credit union rate you can only reach by joining a credit union in one province is not available to most of the country, so every card states where it applies rather than leaving that out and letting the number look national.
Any card here opens the same short application. Where a lender publishes nothing, that is the only way its rate becomes a real number for you: our partner dealerships submit the application, the lender prices it against your credit, the vehicle and the term, and the quote comes back from them. AutoMart is not a lender and does not set the rate.
Bank of Canada benchmarks and the full rate context · Credit unions that publish rates · Financing after a decline
Not one of them publishes a consumer car loan rate. That is not an omission in this table — it is the finding. Canadian bank auto lending is almost entirely indirect: the dealership submits your application and the bank prices it against your credit, the vehicle and the term, so there is no single posted number for them to publish. What they do publish is terms, and those are worth reading, because the vehicle age caps and loan minimums decide which bank can finance your car before your credit does.
Not published At the dealership
Arranged through 4,500+ enrolled Canadian dealerships. New and used, plus EV, RV and marine. A newcomer program covers buyers with no Canadian credit history.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
Indirect lender through a national dealer network. Private-sale vehicles over five years old can be applied for directly instead. Lump-sum payments without penalty.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
Up to $200,000, on a new vehicle or one up to seven years old, at 4,000+ dealerships. Variable rate is not offered in Quebec. No prepayment penalty.
Read it on their own site Checked Aug 20, 2026
Not published Ask BMO directly
BMO no longer runs a dealer-arranged retail auto program in Canada and publishes no car loan page. Its Personal Loan Plan starts at $5,000 with a fixed or BMO-Prime-linked variable rate, and can fund a vehicle.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
From $7,500, on a vehicle up to 10 years old, at 3,200+ dealerships. Approved rate is held 30 days. CIBC lists the Personal Car Loan on its own rates page with a term but no rate. Promotional pricing exists for hybrids and EVs.
Read it on their own site Checked Aug 20, 2026
Not published After you apply
One of the few majors you can apply to online rather than only at a dealer. National Bank states the rate is set from your credit history and the approved amount. Repay in full or in part without penalty.
Read it on their own site Checked Aug 20, 2026
Not published At the caisse or dealership
Dealership car loan from $7,500 and secured by the vehicle, which Desjardins says prices better than unsecured credit. Publishes reference rates only: prime 4.45% and a personal base rate of 5.95% as of the retrieval date.
Read it on their own site Checked Aug 20, 2026
Desjardins is a financial cooperative rather than a chartered bank, and sits in this group because it is one of the largest lenders in the country. It publishes reference rates only, so it lands in the same place as the banks: no car loan rate.
This is where published Canadian car loan rates actually live. Of the 15 credit unions checked, 8 publish a rate a borrower could read before applying, and 4 of those price a vehicle specifically rather than a general personal loan a car happens to qualify for. That is a better record than the entire chartered banking sector, which publishes none.
It comes with a real limitation. Almost every credit union that publishes a rate can only be joined by residents of one province, so the rate is unavailable to most people reading it. One exception is worth knowing about: Innovation became a federal credit union in 2023, which lets it take members across Canada, and it publishes a rate band.
Read the published figures against the market rather than against each other. The Bank of Canada reports chartered banks charged an average of 6.55% across all new auto lending in June 2026. Several of the credit union rates below start under that average, which is the substantive reason to check one — not because a credit union is cheaper by nature, but because on the retrieval date these particular posted figures were lower than what the banking system charged on average.
4.3% to 6.8%
The most complete vehicle rate table found anywhere in this research, priced by the age of the car rather than by term. A new 2026 vehicle is 4.99%, or 4.64% at the special rate; the prime-linked equivalents are 4.45% and 4.3%. A 2025 to 2022 vehicle is 5.25% at the special rate and a 2021 or older one is 6.8%. Recreation vehicles, motorcycles and travel trailers have their own published rows. NLCU posts prime at 4.45%.
Read it on their own site Checked Aug 20, 2026
Prime + 1.8% to prime + 2.25%
Publishes vehicle-specific starting rates and prices new against used: a 7-year new vehicle loan at prime + 2%, the same loan on a used vehicle at prime + 2.25%, and an 8-year loan on a new electric vehicle at prime + 1.8% — the one place in this table where the green discount is stated as a number rather than described. A general 5-year fixed personal loan is 8.98%. Prospera posts prime at 4.45%.
Read it on their own site Checked Aug 20, 2026
6.9% to 7.6%
Posts a New Car Loan rate for every term on the same page as its mortgage and deposit rates: 7.5% at one year, 7.6% at two, 7.25% at three and 6.9% at four and five, with a variable option at 6.94% to a five-year maximum. There is no used-vehicle row — a used car goes to the personal loan instead, which DUCA does not price publicly. Deposits are insured by FSRA, Ontario's regulator.
Read it on their own site Checked Aug 20, 2026
Prime + 1% on an EV
Publishes a rate for electrified vehicles and not for anything else. Its Planet-Wise transportation loan is prime + 1% on a new or used electric vehicle over a term up to 10 years, and prime + 2% on a hybrid, plug-in hybrid or alternative-fuel vehicle no more than five years old. A conventional car is quoted from the general loan table, which reads "12.45% + increment" fixed or "Vancity Prime + increment" variable — a published page that still leaves you without a number. Vancity posts prime at 4.45%.
Read it on their own site Checked Aug 20, 2026
Prime + 1.5% to prime + 15%
The only credit union here that publishes a rate and can be joined from anywhere in Canada: it became a federal credit union under the Bank Act in June 2023, so it is regulated by OSFI, insured by CDIC and free to take members nationally. The published band is wide because it spans the whole book, and the top of it is a long way above the bottom. A $100 application fee is waived if you apply online. Vehicle loans can also be written at a participating dealership through Credit Union Dealer Finance.
Read it on their own site Checked Aug 20, 2026
From 5.45%
No vehicle-specific product, but the personal loan page names buying a car as the use and posts a floor of 5.45% with the date it was set. Secured or unsecured, from $5,000, with no prepayment penalty. A separate online e-Loan covers up to $15,000 over one to six years and is the one product where SCU says only "rates vary". Its standard loan rate is posted at 4.45%.
Read it on their own site Checked Aug 20, 2026
From 5.45%
Publishes a personal loan floor of 5.45% and a prime rate of 4.45% carrying the date it was updated, then describes its auto loan in prose beside the table — fixed or variable, and six or seven year terms on a new or nearly new vehicle — without pricing it. So the floor is sourced and the vehicle rate is not, which is why this row shows the floor and says which one it is.
Read it on their own site Checked Aug 20, 2026
From prime + 1%
Prices its whole loan book as a formula off its own prime, which it posts at 4.45%: a personal loan from prime + 1%, a Quick Loan from prime + 2.5%, a line of credit from prime + 2.5%. Nothing is vehicle-specific, and Affinity says on the same page that what you are offered depends on credit history, income and existing debt.
Read it on their own site Checked Aug 20, 2026
Not published After you apply
Says so itself, which almost nobody does: its loans rates page states that rates on personal loans vary with prime, term and other factors and that "we don't display specific rates online". It does publish a student loan rate of 5.95% and a prime rate of 4.45%. Vehicle loans are written at a branch or from the showroom floor through its dealer finance program. Conexus amalgamated with Cornerstone and Synergy on January 1, 2026.
Read it on their own site Checked Aug 20, 2026
Not published After you apply
Publishes a full rate page — daily banking, mortgages, GICs, registered plans, credit cards, foreign exchange and a prime rate of 4.45% — with no personal or vehicle loan section at all. connectFirst now sits under the same brand and its own rate page is served behind a block, so nothing further could be confirmed there either.
Read it on their own site Checked Aug 20, 2026
Not published After you apply
Its rate page is explicit about its own scope: "Here are the rates we're offering on GICs, RRSPs and Foreign Exchange." No lending rate is posted, so there is nothing to reproduce.
Read it on their own site Checked Aug 20, 2026
Not published After you apply
The rate section has eight categories and none of them is loans: prime, mortgages, term deposits, registered accounts, MarketTracer, foreign exchange, personal accounts, business accounts. Prime is posted at 4.45% effective October 31, 2025, with a note that it followed the Bank of Canada down from 4.7%.
Read it on their own site Checked Aug 20, 2026
Not published After you apply
Posts mortgage, term deposit, registered and account rates with the date each was last updated, and a prime rate of 4.45%. Its borrowing pages describe a vehicle loan and call the rates "market-competitive" without printing one.
Read it on their own site Checked Aug 20, 2026
Not confirmed Check with Meridian
Listed as unconfirmed rather than as publishing nothing, because the two are not the same claim. Meridian's rates and loans pages both refused automated retrieval on the date checked, so its own table could not be read. The pages that did load publish mortgage rates and tell you to speak to an advisor about a loan. No figure is shown here because none was verified, and the rate tables that comparison sites carry for Meridian are not sourced to Meridian.
Read it on their own site Checked Aug 20, 2026
Not confirmed Check with BlueShore
Same position as Meridian: the rates page returned a rejection rather than a page, so no loan table could be read. Its mortgage pages do publish rates, and its lending pages name car loans without pricing them. Recorded as unconfirmed rather than guessed at.
Read it on their own site Checked Aug 20, 2026
A prime-linked rate is shown as the credit union's own formula rather than as a total. Each one sets its own prime, and resolving the sum here would print a figure that goes stale the moment any of them moves.
The lenders that write applications the bank programs decline — a low score, a discharged bankruptcy, a consumer proposal, self-employment that is hard to document, or no Canadian credit file at all. It is ordinary lending at a higher price with tighter conditions, not a separate class of borrower. One of these publishes a starting rate, which is one more than any major bank manages; the rest publish terms and price at the dealership.
From 12.9%
Posts "rates as low as 12.9%" on its own home page — a starting point for its strongest non-prime files, not a rate offered across the book. Full-spectrum non-prime lending through a national dealer network, from Red Deer, Alberta.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
Publishes no origination rate, but does publish the terms of its Rate Reducing Loan: after 12 months of on-time payments the rate drops by a tenth of itself each year, down to a floor of 9.99% plus prime. Requires no returned payments and no accident on the vehicle.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
Scotiabank's near and non-prime arm, for buyers with no credit history or less than perfect credit. Personal-use vehicles up to 10 years old, term set by the vehicle's age and mileage, fixed rate only. A StartRight program covers newcomers to Canada.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
A Fairstone Bank subsidiary that approves a wide range of credit scores. Reports payment history to both Equifax and TransUnion at the end of every month, and allows any part of the balance to be prepaid without penalty. One payment-schedule change a year is free; further changes are $25.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
Became a fully licensed Canadian bank on March 5, 2025, having lent here since acquiring Carfinco. Describes its own book as full-spectrum, covering a wide range of credit profiles across automotive and powersports.
Read it on their own site Checked Aug 20, 2026
Not published At the dealership
Point-of-sale lender owned by goeasy, working through more than 10,800 partner businesses. States it finances the full spectrum from prime to non-prime. Automotive is one of several categories it lends in, alongside powersports, home improvement and healthcare.
Read it on their own site Checked Aug 20, 2026
Not published No longer lending
Listed here because it is still widely named as a Canadian non-prime lender and is no longer one. Axis sold its auto finance business to Fionic Canada on December 12, 2024, was delisted, and went private in 2025. Existing borrowers were transferred; there is nothing to apply for.
Read it on their own site Checked Aug 20, 2026
A starting rate is the floor of a lender's range, offered to its strongest files in this segment. It is not what the segment pays on average, and no lender here publishes that average. The rate page covers the legal ceiling and what a non-prime approval turns on.
Every major manufacturer runs a captive finance arm — Toyota Financial Services, Ford Credit, GM Financial and the rest — and each subsidises rates on chosen models to move them. These are the lowest advertised car loan rates in Canada and they are real. They are also the most perishable: an offer is written against one model year and trim, priced separately by province, restricted to buyers who qualify on approved credit, and stated to end on a specific date usually a few weeks out. Toyota Canada's offers page, for one, prints the exact window each incentive runs between and the province list it applies in.
Two things are worth knowing before you treat a promotional rate as the cheaper option. It is normally an either-or against a cash rebate, so on a smaller amount financed the rebate can beat the low rate outright — ask for both numbers and compare the total. And subvented pricing is typically reserved for the strongest credit tiers, so it is quoted at the dealership after your application, not applied automatically to the advertised model.
Why there is no table here. No promotional rate is reproduced on this page. A figure that expires on a stated date cannot be shown as current on a page that is not rebuilt when it lapses, and a stale one would be worse than none.
Toyota Canada offers and promotions Checked Aug 20, 2026
Everything above is what the market publishes. None of it is an offer, because every Canadian lender prices per applicant — the same vehicle on the same afternoon is quoted differently to two people. Applying shares your details with Canadian dealer and finance partners who quote the terms. AutoMart is not a lender, does not set rates, and cannot promise an approval; every credit decision belongs to the partner making it.
Car loan rates in Canada · Financing with poor credit · Payment calculator · Provincial guides