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What is a good interest rate on a car loan in Canada?
A good interest rate on a car loan in Canada will be below the national average rate of 7.21%. If you have good credit, new car loan rates are typically 0% - 6.5% depending on the brand, while used car loan rates in Canada are 6.5% - 9%.
Which cars have 0 financing right now Canada?
Borrowell says most Canadians will be approved for the loan offer they need if they have a credit score between 660 and 712. Individuals with a credit score above 712 may get their loan approved quicker and may receive more favourable conditions.