![]() ![]() TD offers flexible terms for payments, such as bi-weekly or monthly payments, and early payments to pay off your car faster without a penalty. TD Auto Finance Canada is an excellent choice for any car owner.Īs a first-time car owner, you have great options to help you take this exciting first step. You may pay more in the long run however, it is a win-win since you are getting a new car and increasing your credit score!Ĭheck out our piece on insurance costs in Ontario to help with your budget while looking for a car. But here is the good news! Buying a car on loan can be really good for your credit, provided that you make your payments in time, of course. If your credit score is on the lower end of the spectrum, which is about 600, you will be looking at a higher interest rate. ![]() The average interest rate for those who have decent credit is 4%-6%. That is why it is essential to do some research and find the best solution.Ī good interest rate for a car in 2021 is 4%. Each situation is different, and car loans are definitely not a one-size-fits-all type of deal. It can be overwhelming to look at all the options. ![]() Keep reading to find your perfect match.Ĭar loans come in all shapes and sizes. You could have excellent credit, bad credit, o r no credit. Luckily, we have put together a list of the top Canadian car loans for you. Getting a loan can be intimidating, and doing multiple credit checks will hurt your score. Perhaps that old thing you bought 20 years ago is finally on its last legs.Įither way, most of us don't have the cash in our pocket to buy a vehicle outright as a matter of fact, 85% of Canadian cars are financed. You could be a new driver, ready to embark on adventures in your sweet ride, or you could be upgrading now that all the kids are out of the house. There are many reasons why you would be in the market for a new vehicle. ![]()
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