How To Finance A Nissan In Canada

How To Finance A Nissan In Canada

Written by Bryan Daly
Fact-checked by Caitlin Wood
Last Updated August 10, 2022

Nissan is one of the top-selling Japanese car brands in Canada due to their affordable prices and innovative car models, like the Sentra, the Rogue and the Kicks. However, despite their mid-range prices, buying a Nissan outright isn’t possible for everyone. Thankfully, there are a few ways you can finance a Nissan in Canada. 

How To Finance A Nissan In Canada 

Depending on how strong your income and credit scores are, you may have a few different options for financing a new or used Nissan.

Can You Finance A Nissan Through Nissan Canada Finance (NCF)?

Although you may not find the lowest interest rates, Nissan Canada offers their own in-house financing programs. Many drivers prefer in-house financing because they don’t need to wait several days or weeks to receive funding. If you apply with a licensed dealership, you could get approved and drive off in your Nissan on the same day.   

Financing With NFC 

In-house NFC financing is when you borrow against your Nissan to buy it over time. Once all your payments are made, the car is yours. Plus, Nissan frequently gives out promotional deals to entice potential customers, such as cash discounts or 0% financing for limited periods on select models.   

Can You Finance A Nissan With A Car Loan? 

A car loan lets you borrow credit so you can finance a vehicle over time in payments. Financial institutions and alternative lenders offer car loans with varying interest rates and terms lasting several months or years. Loans are frequently secured against the vehicle, which will be used as collateral in case you default.  

If you apply with a bank or credit union, you’ll typically need good credit (660 – 900) to qualify for a large car loan with a low rate and flexible term. On the other hand, alternative lenders have easier requirements, but they often charge higher rates, especially for clients with bad credit. So, make sure to shop around before you apply for a car loan.           

Where Can You Get A Car Loan In Canada?

AmountInterest Term(Months)
Loans Canada Logo - Bad Credit Loans Canada$500 - $50,000Up to 46.96%12 - 84Learn More
Canada Drives$500 - $35,000$29.99% – 46.96%9 - 60Learn more
SkyCap Financial$500 – $10,00012.99% – 39.99%9 - 36Learn more
Carloans411$5,000 - $40,000Varies12 - 72Learn more
Car Loans Canada$7500 - $59,9953.95% +12 -96Learn more
Canada Auto Finance$5,000 - $45,0004.90 % - 29.95%36 - 72Learn more
Eden ParkVaries11.9% +12 - 84Learn more
Splash Auto Finance by RifcoUp to $50,000Varies12 - 84Learn more
SafeLendUp to $50,0008.99% +12 - 72Learn more

Can You Finance A Nissan With A Personal Loan?

You can also get a personal loan to finance your Nissan. Essentially, you would borrow a lump sum of money, use it to buy your preferred vehicle, then repay the lender in installments. Here, your lender might offer you two types of personal loan: 

  • Secured Personal Loan – To qualify for a secured loan, you’ll need to provide an asset, like a car, piece of real estate or investment as collateral. That asset acts as insurance for the lender when you default on your loan. Secured loans often have lower rates but you’ll run the risk of losing your asset if you miss payments.  
  • Unsecured Personal Loan – If you don’t have or don’t want to risk any collateral, you may want to apply for an unsecured personal loan instead. The only problem here is that unsecured loans can come with higher rates and less flexible terms, because the lender doesn’t have collateral to cover their losses if you default. 

Where Can You Get A Personal Loan? 


Loans Canada

Up to $50,000
2.00% to 46.96%
3-60 months


$1,000 - $15,000
29.9% - 46.9% APR
12 - 60 months

Symple Loans

$5,000 - $50,000
6.99% - 22.99%
Up to 84 Months

Spring Financial

Up to $15,000
14.99% to 46.96%
6 - 12 Months


$1,000 - $25,000
7.5% - 31.5%
36 - 60 months

Cash Money

$1,500 – $10,000
Varies by province
Varies by product (up to 60 months)


$5,000 - $35,000
Starting at 9.99%
6 - 60 Months

Loan Away

Up to $5,000
19.9% to 45.9%
6 - 36 Months


$500 - $1000+
28 to 32%
3 Months

Consumer Capital Canada

$500 - $12,500
19.99% to 34.99%
No minimum term

Mogo Finance

$300 – $35,000
9.9% - 47.72%
3 - 60 Months

Fairstone Financial

Up to $50,000
19.99% - 39.99%
6 - 120 Months

Can You Lease A Nissan Through A Nissan Dealership?

Yes, Nissan offers Canadians the ability to lease their cars. In general, there are two types of leases: an open or closed-end lease. With a lease, the residual value of your Nissan is calculated at the start of your lease. 

  • Open-End Lease – With Open-end leases, you are responsible for the car’s residual value. Meaning, if the value of the car depreciates more than the estimated amount, you’ll be liable for the difference between the residual value and its actual value. 
  • Closed-End Lease – With a closed-end lease, you assume no responsibility for any difference in the residual value and the actual value of the car at the end of the lease. 

Nissan offers closed-end leases only and offers lease terms between 12 months and 60 months. Their standard closed-end leases also have a 24,000 km/yearly driving limit. Every extra km will cost between 8-10 cents per kilometre. When the term ends, you can buy the car or lease another. 

How To Calculate The Cost Of A Nissan? 

Here’s an example of how much it could cost to finance a Nissan in Canada:

2019 Altima2020 Pathfinder2021 Versa 
Starting MSRP$30,000$52,700$16,500
Down Payment$3,000$6,000$2,000
Total Car Loan Amount$27,000$46,700$14,500
Interest Rate6%4%11%
Term Lenght60 months84 months36 months
Monthly Payment$521.99$652.00$474.71
Toal Borrowing Cost$31,319.14$53,768.17$17,089.61
Total Interest Paid$4 319.14$7 068.17$2 589.61

Keep in mind that this is only an example. The actual cost of your financing deal can vary based on your credit, down payment and loan/lease term. You may also be able to trade in your used car and get its value deducted from the price of a newer Nissan.  

How Much Do Nissan Cars Cost?

The price of a Nissan can vary greatly due to factors like where you obtained financing, as well as the model, condition, and suggested retail price (MSRP) of your chosen vehicle. Here’s a cost comparison between some of Nissan’s most popular cars:

Nissan ModelStarting Sales PriceType of BuildCondition 
2019 Altima$29,999SedanCertified Pre-Owned
2020 Pathfinder$52,751SUVCertified Pre-Owned
2021 Versa $16,498SedanNew
2021 Altima $29,489SedanNew
2022 Kicks$22,518SUV Crossover New 
2022 Frontier$42,608Pickup Truck New 

How To Lower Your Nissan Financing Cost? 

If you’re a returning Nissan customer, you might become eligible for special discounts and loyalty programs like:  

Canada Finance Loyalty Program

This program is available for drivers who own or are in the process of leasing/financing a Nissan from 2011 or onward. Drivers who finish a leasing/financing term and sign up for a new agreement within 90 days can also qualify for this type of Nissan loyalty discount. 

Nissan Loyalty Dollars

The Loyalty Dollars you can earn from your Nissan depends on which model it is but most customers are able to qualify for a $500 – $2,000 discount. Once you qualify, you may use your discount to qualify for a lower payment, interest rate or after-tax price on your current Nissan.

How To Qualify For Nissan Loyalty Program? 

Remember that your Nissan has to be manufactured in 2011 or later in order to qualify for the Canada Finance Loyalty Program. Additionally, you (the driver) must:

  • Have bought or financed/leased a new Nissan (no discounts for used Nissans). 
  • Be financing or leasing your vehicle through Nissan Finance Canada.
  • Show your proof of ownership or finance/lease agreement when applying.

Only the intended recipient can use a Nissan Loyalty discount. It can’t be transferred or assigned to anyone else, including a co-owner or co-lessee from the same household.

Does Nissan Offer Any Car Warranties?

Yes, all new Nissans feature a limited warranty that provides coverage for up to 3 years or 60,000 KM (whichever happens first). This type of basic coverage includes the cost of parts and labour due to manufacturer’s defects, as well as the following components:

Surface Corrosion3 years or 60,000 KM
Corrosion Perforation5 years (with unlimited KM)
Powertrain5 years or 100,000 KM
Original Equipment Battery3 years or 60,000 KM
Emissions Control System3 years or 60,000 KM (unless your Nissan has a Cummins Diesel engine, which is covered for up to 5 years or 80,000 KM)
For more information about Nissan’s Car Warranty Coverage, visit the Nissan website.

Find out if you should get an extended car warranty

Nissan Financing FAQs

How large should my down payment be to finance a Nissan?

When financing a dealer car, putting at least 10% – 20% down can help you qualify for a better payment term and interest rate (maybe even 0% APR for a limited period). You should also be in debt for a shorter time, which means you’ll pay less interest overall.  That said, not everyone can afford such a large down payment, so make sure to weigh all your options and compare financing sources before you sign any agreements.

Is it better to finance a new or used Nissan?

It depends on your financial situation and where you get financing from. For example, financing a newer Nissan from a licensed dealership is probably safer than buying a used one from a private sale, because there should be more guarantees. On the other hand, new Nissans are expensive, particularly if you finance them over several years.  

Are certified pre-owned vehicles safe? 

All Certified Pre-Owned (CPO) Nissans must undergo a 169-point inspection by Nissan-trained technicians to ensure a quality build. Additional perks of a Certified Pre-Owned Nissan include:
  • Access to rental assistance and personalized travel planning services
  • Hassle-free exchanges for the first 10 days or 1,500 KM
  • Limited powertrain warranty and 24/7 roadside assistance for 72 months or 120,000 KM (from the Nissan’s original service date)

Should You Finance A Nissan? 

Before you buy, lease or finance a vehicle, don’t forget to compare prices, consumer reports and funding sources to find the best deals possible. Luckily, if you’re looking for a car brand that’s known for both reliability and affordability, Nissan could be right for you.

Bryan is a graduate of Dawson College and Concordia University. He has been writing for Loans Canada for five years, covering all things related to personal finance, and aims to pursue the craft of professional writing for many years to come. In his spare time, he maintains a passion for editing, writing screenplays, staying fit, and travelling the world in search of the coolest sights our planet has to offer.

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