How your interest rate is determined
Your credit score
This is the most important factor: the higher your score, the lower your interest rate will be.
The loan term
A shorter loan term generally offers a more advantageous interest rate.
The financial institution
Each lender has its own rate scale; shopping around several offers makes all the difference.
The type of vehicle
A new or recent vehicle is seen as less risky, which can lower the interest rate.
Interest rate questions
What is the average interest rate for an auto loan in Quebec?▼
The average rate generally ranges from 6% to 22% depending on your credit profile and chosen term. Apply for free to find out your personalized rate.
Is the interest rate negotiable?▼
Yes. Since we work with over 18 financial institutions, we compare several offers to get you the most competitive interest rate possible.
How can I lower my interest rate?▼
Improving your credit score, offering a down payment, choosing a shorter term, or adding a co-signer are all ways to lower your interest rate.
Is the interest rate fixed for the whole loan term?▼
Yes, the vast majority of our auto loans are fixed rate: your interest rate and monthly payment stay the same from start to finish.
Learn more
Credit Solutions
Cities We Serve