Car Loans Oakville, Ontario

📅 Last Updated: December 3, 2021

✏️ Written By Kale Havervold

🕵️ Fact-Checked by Caitlin Wood

Table of Contents show

Car Loans Oakville - Compare Providers

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
20	1718582400	$100 – $1500	Max of $8 per $100 & 24% interest up to 62 days	Next payday (max 62 days)	$100 – $1500
100	1709683200	Up to $1,250	Up to 32%	90 – 150 days	Up to $1,250
23	1700524800	Up to $25,000	24.99% – 29.99%	30 or 60	Up to $25,000
16	1700524800	$100 – $1,000	29% – 35%	9 – 24	$100 – $1,000
18	1695254400	$500 – $5,000	Up to 32%	3 – 4	$500 – $5,000
7	1692748800	Up to $350	0%	Up to 65 days	Up to $350
100	1688083200	$150 – $1,600	10 – 35%	3 – 6	$150 – $1,600
100	1686182400	$300 – $3,000	18% + fees	6	$300 – $3,000
100	1686182400	$300 – $3,000	18% + fees	6	$300 – $3,000
100	1686182400	$300 – $3,000	18% + fees	6	$300 – $3,000
22	1683676800	$15,000	6.7%	Up to 60	$15,000
2	1670889600	$1,000 – $15,000	19.9% – 34.9%	–	$1,000 – $15,000
8	1666051200	$250	0%	–	$250
100	1643932800	$500 – $15,000	Starting at 18.9%	6 – 60	$500 – $15,000
100	1642723200	Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1623369600	Varies	0%	6 or 8 weeks	Varies
1	1620777600	Up to $35,000	9.99% – 35%	6 – 60	Up to $35,000
24	1607558400	$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1600646400	$1,000 – $35,000	12.99% – 29.99%	12 – 84	$1,000 – $35,000
100	1598918400	Up to $15,000	–	–	Up to $15,000
100	1598832000	$500 – $15,000	Start at 10.99%	9 – 60	$500 – $15,000
100	1551830400	Up to $500,000	5.75% – 9.9%	–	Up to $500,000
19	1582243200	–	–	Up to 60	–
100	1581033600	$5,000+	–	Up to 60	$5,000+
100	1580860800	$1,500 – $10,000	–	12 – 60	$1,500 – $10,000
17	1580774400	$1,000 – $25,000	8.99% – 34.99%	36 or 60	$1,000 – $25,000
100	1579478400	$100 – $1,500	–	–	$100 – $1,500
14	1579478400	$850 – $1,600	29.78% – 34.95%	36 months	$850 – $1,600
100	1579219200	Up to $1,500	$14 per $100 borrowed	Up to 30 days	Up to $1,500
100	1576713600	$500 – $100,000	Starting at 12.99%	Up to 60	$500 – $100,000
100	1562198400	$500 – $15,000	15.99 – 35%	6 – 60	$500 – $15,000
10	1552262400	$500 – $18,000	29.9% or 34.28%	6 – 60	$500 – $18,000
100	1551830400	$100 – $1,000	$14 per $100 borrowed	14 days	$100 – $1,000
100	1551830400	$1,000 – $15,000	19% – 34.95%	12 – 60	$1,000 – $15,000
100	1551398400	Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1551398400	$100 – $1,500	$14 per $100 borrowed	14 – 31 days	$100 – $1,500
100	1551398400	Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1546128000	Up to $5,000	19.9% – 35%	6 – 36	Up to $5,000
100	1551139200	$250 – $1,250	29% – 32%	3 – 6	$250 – $1,250
23	1551139200	Up to $15,000	34.99%	Open-end	Up to $15,000
100	1550534400	$100 – $1,500	$14 per $100 borrowed	14 days	$100 – $1,500
11	1569974400	Up to $1,500	$14 per $100 borrowed	Up to 62 days	Up to $1,500
100	1550534400	Up to $1,500	$14 per $100 borrowed	14 days	Up to $1,500
100	1550534400	$500 – $1,000	23%	3 – 6	$500 – $1,000
100	1550534400	$300 – $1,000	Up to 38%	3 – 4	$300 – $1,000
100	1549411200	$100 – $1,500	$14 per $100 borrowed	14 days	$100 – $1,500
100	1549411200	$1,000 – $15,000	34.37%	9 – 60	$1,000 – $15,000
100	1567555200	$300 – $3,000	18% + fees	6	$300 – $3,000
100	1549238400	$100 – $1,500	$14 per $100 borrowed	Up to 62 days	$100 – $1,500
100	1549238400	$250 – $1,500	23.99% – 29.99%	3 – 4	$250 – $1,500
20	1548720000	$500 – $1,000,000	7.9%	12	$500 – $1,000,000
100	1548720000	$500 – $50,000	Starting at 8.99%	3 – 120	$500 – $50,000
6	1545264000	$500 – $10,000	12.99% – 34.99%	9 – 60 months	$500 – $10,000
100	1545264000	$500 – $10,000	Starting at 9.90%	12 – 36	$500 – $10,000
4	1543622400	Up to $60,000	19.99% – 34.99%	6 – 120 months	Up to $60,000
100	1545350400	$300 – $1500	Starting at 18%	3 – 7	$300 – $1500
100	1545350400	$300 – $3,000	22% – 32%	3 – 4	$300 – $3,000
12	1545350400	Up to $7,000	35%	6 – 60	Up to $7,000
15	1545350400	$500 – $1000	Up to 32%	3	$500 – $1000
100	1545350400	$500 – $750	23%	3 – 4	$500 – $750
100	1545350400	$500 – $750	22%	90 – 120 days	$500 – $750
100	1545350400	$300 – $3,000	27% – 35%	90 – 120 days	$300 – $3,000
5	1545264000	$500 – $100,000	29.99% – 35%	9 – 84	$500 – $100,000
3	1545264000	Up to $5,000	34.37%	–	Up to $5,000
9	1568937600	Up to $10,000	Varies by product	Varies by product	Up to $10,000
21	1545177600	Up to $35,000	Starting at 12.99%	Up to 60	Up to $35,000
13	1545177600	$100 – $20,000	Up to 35%	Up to 60	$100 – $20,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
3	1725321600	Up to $40,000	$0.75 per $1,000 per day	–	Up to $40,000
8	1714089600	$10,000 – $20,000,000	–	–	$10,000 – $20,000,000
7	1714089600	$10,000 – $2,000,000	10%+	Up to 36	$10,000 – $2,000,000
2	1669852800	$10,000 – $300,000	–	3 – 24	$10,000 – $300,000
100	1648512000	$1000 - $250,000	–	–	$1000 - $250,000
100	1620345600	–	–	12 – 60	–
100	1611878400	–	–	–	–
24	1607558400	$500 – $50,000	Varies	6 – 60	$500 – $50,000
100	1603756800	–	–	–	–
100	1598918400	–	–	–	–
100	1592438400	–	–	–	–
100	1585612800	–	–	6 – 60	–
100	1580947200	$200,000 – $5,000,000	–	–	$200,000 – $5,000,000
100	1580860800	–	–	–	–
100	1580860800	–	–	–	–
100	1580860800	$5,000 – $1,000,000	–	–	$5,000 – $1,000,000
100	1580860800	–	–	–	–
100	1580860800	–	–	–	–
100	1580860800	–	–	–	–
100	1580860800	–	–	–	–
100	1580688000	Up to $10,000	Prime + 2.5%	Up to 60	Up to $10,000
100	1580256000	$5,000 – $800,000	–	6 – 24	$5,000 – $800,000
100	1579478400	$10,000 – $30,000,000	–	–	$10,000 – $30,000,000
100	1579478400	$50,000 – $5,000,000	–	3 – 36	$50,000 – $5,000,000
100	1579478400	–	–	24 – 60	–
100	1579478400	–	–	–	–
100	1579478400	Up to $1,200,000	–	12 – 84	Up to $1,200,000
100	1579046400	–	–	–	–
100	1577059200	–	–	–	–
100	1577059200	–	–	–	–
100	1577059200	–	–	–	–
100	1575849600	$5,000 – $150,000	Starting 15%	6 – 24	$5,000 – $150,000
100	1575849600	Up to $250,000	–	–	Up to $250,000
100	1575590400	–	–	–	–
100	1575590400	–	–	–	–
1	1545955200	$1,000 – $300,000	5.49% – 22.79%	12 – 60	$1,000 – $300,000
100	1552262400	$500,000 - $10,000,000	–	–	$500,000 - $10,000,000
100	1552262400	–	–	–	–
100	1552262400	–	–	–	–
100	1552262400	Up to $250,000	–	Up to 10 years	Up to $250,000
100	1552262400	Up to $1,000,000	–	–	Up to $1,000,000
100	1551830400	–	–	–	–
100	1551830400	$10,000+	–	Up to 15 years	$10,000+
100	1551830400	Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1551830400	Up to $500,000	–	Up to 15 years	Up to $500,000
100	1551830400	Starting at $5,000	–	Up to 84	Starting at $5,000
100	1551398400	$3,500+	–	–	$3,500+
100	1551398400	$5,000+	4.9% – 24.99%	18 – 48	$5,000+
100	1551398400	$10,000 – $1,000,000	4% – 14%	12 – 84	$10,000 – $1,000,000
100	1551139200	Up to $250,000	–	Up to 48	Up to $250,000
100	1550534400	$500 – $50,000	2.75% – 8.25%	12 week cycles	$500 – $50,000
100	1550534400	$1,000 – $1,000,000	6% – 20%	–	$1,000 – $1,000,000
100	1550534400	Up to $5,000,000	–	24 – 72	Up to $5,000,000
100	1550534400	$5,000 – $200,000	–	–	$5,000 – $200,000
100	1549411200	$50,000 – $12,000,000	–	24 – 96	$50,000 – $12,000,000
100	1548720000	Up to $100,000	–	–	Up to $100,000
100	1548720000	$10,000 – $300,000	–	–	$10,000 – $300,000
100	1545264000	Up to $250,000	–	3 – 24	Up to $250,000
6	1545350400	$15,000 – $1,500,000	–	6 – 36	$15,000 – $1,500,000
5	1545177600	$5,000 – $300,000	9% – 35%	Varies by product	$5,000 – $300,000
4	1545177600	$5,000 – $500,000	4.96% – 24.93%	1 – 60	$5,000 – $500,000
6	1545264000	$500 – $10,000	12.99% – 34.99%	9 – 60 months	$500 – $10,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
2	1679529600	Varies	Varies	24 – 96 months	Varies
100	1643846400	$250 – $10,000	Starting at 14.99%	12 – 36	$250 – $10,000
3	1632960000	Min. $10,000	6.93% – 19.99%	18 – 96	Min. $10,000
8	1624233600	$5,000 – $75,000	–	12 – 96	$5,000 – $75,000
24	1607558400	$500 – $50,000	Varies	6 – 60	$500 – $50,000
7	1606435200	$500 – $10,000	Starting at 0%	3 – 48	$500 – $10,000
100	1600646400	$1,000 – $35,000	12.99% – 29.99%	12 – 84	$1,000 – $35,000
100	1582761600	–	–	36 – 96	–
6	1582761600	–	–	–	–
100	1582761600	–	Up to 29.5%	–	–
100	1581033600	–	–	–	–
100	1580688000	–	Starting at 12.9%	–	–
100	1579478400	–	–	–	–
100	1579478400	–	–	–	–
100	1579478400	–	–	–	–
100	1579219200	–	–	–	–
100	1578873600	–	Starting at 10.99%	–	–
100	1578873600	–	–	–	–
100	1551830400	Starting at $5,000	–	–	Starting at $5,000
100	1552262400	Up to $1,000,000	–	up to 96	Up to $1,000,000
100	1551830400	–	–	6 – 96	–
100	1551830400	$10,000+	–	12 – 96	$10,000+
100	1551830400	Up to $1,000,000	–	Up to 15 years	Up to $1,000,000
100	1577059200	–	–	–	–
100	1577059200	–	–	–	–
100	1575849600	–	–	–	–
100	1575849600	$5,000 – $45,000	4.90 % – 29.95%	–	$5,000 – $45,000
100	1575849600	–	–	–	–
100	1575590400	–	–	–	–
6	1569974400	–	Up to 29.99%	12 – 96	–
100	1561507200	–	–	–	–
1	1560124800	Up to $100,000	3.99% - 19.9%	24 -96	Up to $100,000
100	1551830400	–	–	–	–
100	1551830400	Up to $500,000	–	6 – 48	Up to $500,000
100	1550534400	–	–	–	–
100	1548633600	–	Starting at 4.2%	–	–
6	1545264000	$500 – $10,000	12.99% – 34.99%	9 – 60 months	$500 – $10,000
100	1545177600	–	–	12 – 84	–

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1578873600	Up to $50,000	–	24 – 60	Up to $50,000
100	1545264000	Up to $50,000	–	–	Up to $50,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	N/A	N/A	N/A	N/A
3	1726531200	$5,000 +	6% – 16%	12 – 60	$5,000 +
7	1708473600	–	–	–	–
5	1700524800	–	-	-	–
100	1695945600	–	–	–	–
4	1690934400	–	–	–	–
2	1688601600	Min $110,000	4.14% – 6.29%	24– 120	Min $110,000
3	1679616000	$100,000 – $2,000,000	Varies	12 – 60	$100,000 – $2,000,000
4	1541030400	–	4.19% – 8.00%	6 – 120	–
100	1627344000	–	4.50% – 5.97%	12 – 60	–
100	1551830400	Up to $500,000	Starts at 8.49%	–	Up to $500,000
100	1581033600	–	4.19% – 6.04%	12 – 120	–
100	1580860800	–	–	–	–
100	1580860800	–	2.99% – 5.49%	6 – 60	–
100	1580860800	$50,000+	–	12 – 120	$50,000+
100	1580860800	–	–	–	–
100	1580860800	–	–	–	–
100	1580860800	–	–	–	–
100	1580688000	–	–	6 – 60	–
100	1580688000	–	4.19% – 6.04%	12 – 120	–
100	1580688000	–	–	–	–
100	1579478400	–	4.54% – 7.49%	6 – 120	–
100	1578873600	–	–	–	–
100	1578268800	–	–	–	–
100	1577059200	–	Varies	–	–
100	1577059200	–	–	–	–
100	1577059200	–	–	–	–
100	1577059200	–	4.49% – 6.63%	1 – 10 years	–
100	1574985600	$10,000 – $1,000,000	4.99% – 7.29%	12 – 120	$10,000 – $1,000,000
100	1574899200	–	–	12 – 60	–
100	1574899200	–	4.24% – 6.30%	–	–
100	1560124800	–	4.64% – 5.80%	1 – 10 years	–
100	1548806400	$10,000 – $3,000,000	Varies	12 – 24	$10,000 – $3,000,000
100	1548720000	–	–	12 – 60	–
1	1517097600	$10,000 – $500,000	Starting at 10%	–	$10,000 – $500,000

		Services	Rating
0	0	Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation	N/A (Referrer)
100	1576540800	Credit Counselling, Bankruptcy, Consumer Proposal
100	1576540800	Bankruptcy, Consumer Proposal
100	1576540800	Credit Counselling, Debt Management Program
100	1576368000	Credit Counselling, Debt Management Program
100	1576454400	Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring

Despite public transportation, carpooling, and biking to work becoming more and more popular, driving a car is still the most popular way to get around in most areas of the country. Whether you live in a big city like Toronto, or a suburb like Oakville, you will constantly see cars on the road. It is one of the most convenient and easiest ways to get around.

Unfortunately, purchasing and owning a car is anything but cheap. It can cost tens of thousands of dollars to purchase a car, and even a used vehicle can cost you thousands. Most people in Oakville simply don’t have that much money sitting in their bank account available to be spent.

Thankfully, car loans in Oakville exist and can make it much more manageable for the average person to become a car owner.

Have bad credit? Find out how you can get a bad credit car loan?

What Type of Vehicles Can You Get with a Car Loan in Oakville?

The good news about car loans in Oakville is that most of them will allow you to purchase any type of vehicle you want. Most lenders won’t be concerned with the type of vehicle you want to buy and will be more concerned about your ability to repay the loan in full. As a result, there are countless different kinds of vehicles that you can get with a car loan. These include:

Coupes
Sedans
Convertibles
SUVs
Hatchbacks
Electric cars
Hybrids
Trucks
Vans

Of course, the actual car you end up going with will also depend on your budget, your specific needs as well as the stock the dealerships have in Oakville. It is a good idea to do some research ahead of time, to find out how much you can afford, learn what type of car you prefer, and evaluate your needs.

For example, the needs of someone who wants a car to zip around the city will be vastly different than someone who needs to haul things on the highway every day. But no matter what you do for a living, always make sure the car you get is reliable as the weather in Canada is anything but predictable, and you need to be prepared for anything.

Everything you need to know about financing a car.

Reasons Why Consumers in Oakville Take Out Car Loans

Without car loans in Oakville, it would prove very difficult for many people to purchase the vehicles they want. Of course, earlier we mentioned that most people simply don’t have the cash on hand to buy the car that they need or want. In addition to that, there are several other reasons why a consumer may need a car loan. These include:

Needing something larger for a growing family or for work
To get a more reliable car for the new city or climate you have just moved to
Because your old car broke down out of nowhere and you need a way to get around
You want to upgrade to a better model that is safer and/or comes with more features

Of course, these are far from the only reasons why people might need a car loan, but they are among the most common. No matter your reason for needing a car loan, there is a good chance that you will be able to find a lender like Canada Drives who will be willing to work with you.

How Large of a Car Loan Can You Get in Oakville?

Now that you know what kind of vehicles you can get with a car loan in Oakville and the reason people need them, how large of a loan can you get? Well, this will depend. The amount you are able to borrow will be determined by your credit, your income, the other debts you have, and the lender you decide to work with.

While you might be able to be approved for a large car loan, that doesn’t necessarily mean that you should get one. Be sure to only borrow what you need. You will need to pay back the loan in full, plus any interest, so taking one that is too large can cause serious financial issues for many years.

Can You Get a Car Loan with Bad Credit?

One major concern people have when it comes to car loans in Oakville is wondering if you can get approved with bad credit. In Canada, credit scores range from 300 to 900 and the higher your score, the better your credit is. While it varies depending on who you ask, bad credit is generally seen as a credit score of 560 or lower.

Having bad credit can make loans more expensive and difficult to get, but thankfully not impossible. There are indeed some ways for you to get a car loan even if you have bad credit. The first method is to take time to find the right lender. Some lenders in Oakville will be willing to work with those who have bad credit, while others will not. In addition to finding a lender that will actually work with you, you need to find a lender who has a good track record, is legitimate and one you feel comfortable with.

These bad credit car loans will often have higher interest rates, so some individuals will actually look to improve their credit before applying for any car loan. While increasing your credit score can seem like an insurmountable task, this isn’t actually the case. There are several things you can do to improve your credit, including:

Making all of your payments in full and on time
Keeping your credit utilization low
Use credit responsibly and don’t overspend
Keeping old credit accounts open
Not constantly applying for new credit

Borrowing With Your Vehicle in Oakville

While a car loan in Oakville helps you get the money to purchase the vehicle you need, did you know you can also use your vehicle to access the money you need? A vehicle title loan allows you to borrow money at a more affordable interest rate, as you put up your vehicle title as collateral.

This is a great option for consumers in Oakville who simply don’t have access to affordable loans and need money quickly. Also, a vehicle title loan can often get you access to larger amounts of money than a standard loan, due to the lender taking on less risk. Best of all, you still get to keep your car and drive it as normal as long as you are making your payments on time and in full.

However, this type of loan also comes with some risk. If you default on the loan and miss your payments, the lender can legally seize your vehicle. This is why it is important to make sure that any amount you borrow against your vehicle, you are confident you can pay it back. Of course, you must own the vehicle outright to get a vehicle title loan, and the vehicle must have some value.

Trying to decide between a used car and a brand new one? Check out this infographic.

What About Trading in My Old Vehicle?

Many people who are getting a car loan in Oakville to buy a new vehicle likely have an older vehicle. While you could keep it as a backup vehicle or sell it privately, another option is to trade it in to the dealership where you are buying your new car. Plenty of dealerships will give you a small discount on your new vehicle when you trade in an old one to them.

However, be sure to temper your expectations if you are going to do a trade-in. You will likely only get a few hundred dollars up to a couple of thousand dollars for your trade-in. Vehicles depreciate in value quickly and thus, your vehicle might not be worth as much as you think. Either way, it can still get you a better deal on your new car, even if it’s only a few hundred dollars off.

Be sure to ask a dealership ahead of time if they offer trade-ins, as you simply can’t assume that they will offer them. Of course, be sure that the car you are trading in still has some value. If it is severely damaged, very old, or has lost all of its value for some other reason, the dealership likely won’t offer you anything.

Finding the Right Car Loan For Your Needs

If you have any more questions about car loans in Oakville or want to find a high-quality lender in your area, don’t hesitate to reach out to us at Loans Canada. We are confident we can answer any question you may have, as well as help you find the best car loan possible.

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