Get the car you want. With payments you can afford.

Quick. Affordable. Secure.

I want a car Complete application in less than 3 minutes

Get an auto loan of up to $40,000. LowestRates.ca has partnered with 100s of dealers across Canada. Find the right vehicle for your needs today.

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How it works. Hint: It's free!

Apply
Complete our online application that will take 2-3 minutes.
Get Approved
You will be matched with one of our trusted dealerships and they will work with you on your loan.
Drive Your New Car
Choose your vehicle and payment option and start driving!

Whatever the case, we can help.

We’re proud of the car loan service we offer. Our site is one of the few places where Canadians without great credit can get the financing they need to buy a vehicle. We work with you even if you have bad credit or no credit, and our users enjoy fast approvals and reasonable interest rates on their loans.

The service is simple too: we connect car buyers like you with a fantastic coast-to-coast network of auto lenders and dealers. These businesses specialize in providing vehicle financing to Canadians with less than stellar credit, and they know how to get you behind the wheel — fast.

Car loans made easy.

We know most people need a car to get to work, take the kids to school, and buy groceries. Here’s how our car loan service works:

Fast

Applying on our site only takes a few minutes. Once you submit your application, we’ll update you on your loan approval within one business day.

98% approval

Got bad credit or no credit at all? Don’t sweat it. We accept everyone’s application and quickly follow up to let you know if you’ve been matched with a lender.

Nationwide

Our network of lenders and dealers operates across all provinces in Canada. No matter where you live, we'll find you a car loan.

Discreet

We only ask you for a minimum amount of information (no social insurance number required), and we only send it to the dealer you’re matched with.

Large loans available

Need a safe, reliable car for your commute to work or to take the kids to school? No problem. Our loans range from $5,000 to $40,000.

Fair interest rates

Worried about paying a crazy-high interest rate? Don't be — the interest rates on our car loans are market competitive and in line with what you'll find at a bank or dealer.

Transparent

We update you on the loan process every step of the way, and you get the terms of your financing up front, before you get to the dealership.

Free

That's right — there's no charge to use our car loan service. Just make your car payments every month and enjoy the freedom of the open road.

About our auto loan network.

It's nationwide, servicing all provinces.
It's a free, fully secure, no obligation loan service.
It provides car loans that range from $5,000 – $40,000.
It offers market competitive interest rates, speedy. approvals, and affordable payments.
It boasts a 100% acceptance rate, even when clients have no credit or bad credit.

Car loan myths

You need an income of at least $30,000 to qualify for a car loan in Canada. False. This number is often tossed about by some car dealerships and banks, but Canadians can get approved for an auto loan with far lower annual incomes.
Self-employed workers won't qualify for a car loan. False. As long as you can demonstrate an annual income, you can get approval for an auto loan through our service.
Applicants without credit need a big down payment to be approved for a car loan. False. Many of our applicants get approved for car loans with no money down and no credit history at all.
Applicants without a FICO score can't be approved for a car loan. False. No FICO, no worries. If you're new to the country or haven't had time to build your credit score, you can still be approved for a car loan.
Low credit auto loans are only available in major provinces like Alberta and Ontario. False. Our auto loan network operates in every province, so no matter where you live, you can get a loan.
Non-bank car loans come with sky-high interest rates and weird, hard-to-understand term structures. False. Reputable non-bank vehicle financing is widely available in Canada, with reasonable interest rates and a loan process that's clear for borrowers.

Car loan facts

Canadians love to buy used cars. In fact, used cars currently outsell new cars in Canada 2 to 1.
About 50% of all the vehicles on Canada's roads are 8 years or older.
New car sales in Canada hit an all-time high in 2015, totalling 1,898,485 units, up 2.5% from 2014.
According to J.D. Power and Associates, nearly 7 out of every 10 buyers who financed a new vehicle in the last 12 months took a loan of 72 months or longer.
J.D. Power and Associates also reports that nearly 1 in 5 new cars in Canada is leased rather than purchased outright — that's up from just 1 in 20 a few years ago.
Fiat-Chrysler was the number one selling vehicle manufacturer in Canada in 2015, with 293,061 total sales.

Car loan tips

The road to getting a car loan doesn't have to be bumpy. Follow these quick and easy vehicle financing tips.

Shop for a loan before you shop for a car

Find a lender that'll work with you before you pick a vehicle. That way you’ll know what you can afford — and on what terms. Choose the right car loan for you and your family.

Opt for a shorter car loan

If you can, choose a car loan with a reasonably short term. Your monthly payments will be higher, but you’ll save a lot on interest, making your vehicle a better deal over the long haul.

Avoid multiple credit checks

Too many credit inquiries can damage your credit, potentially leading to higher interest rates. We'll make sure the lender only does a single pull of your credit history, so you can keep your credit score as high as possible.

Don’t use your credit card to buy a vehicle

Credit cards have many great uses, but purchasing a vehicle isn't one of them. You’ll end up paying more on interest than you need to, and the fees and penalties for late payments can devastate your finances.