📅 Last Updated: September 6, 2022
✏️ Written By Kale Havervold
🕵️ Fact-Checked by Caitlin Wood

Car Loans Montreal - Compare Providers

ProviderLoan AmountRateTerm (Months)Rating
00 Up to $50,000Prime – 35%3 – 120
Up to $50,000
1001694390400 Alterfina$500 – $2,500 18.99% 3 – 6
$500 – $2,500
81688083200 City Lending Centers (CLC)$150 – $1,600 10 – 35% 3 – 6
$150 – $1,600
1001686182400 Northstar Brokers$300 – $3,000 18% + fees 6
$300 – $3,000
1001686182400 Deposit My Cash Now$300 – $3,000 18% + fees 6
$300 – $3,000
1001686182400 My Next Pay$300 – $3,000 18% + fees 6
$300 – $3,000
61683676800 Windmill Microlending$15,000 6.7% Up to 60
$15,000
71666051200 Nyble$250 0%
$250
1001643932800 FlexMoney$500 – $15,000 Starting at 18.9% 6 – 60
$500 – $15,000
1001600646400 Iceberg Finance$1,000 – $35,000 12.99% – 29.99% 12 – 84
$1,000 – $35,000
1001598918400 LM FinancialUp to $15,000
Up to $15,000
1001592438400 Credit Matik$500 – $1,500 18.99% 3 – 6
$500 – $1,500
1001582243200 LendCare Up to 60
1001580860800 SimplyBorrowed$1,500 – $10,000 12 – 60
$1,500 – $10,000
161580774400 goPeer$1,000 – $25,000 8.99% – 34.99% 36 or 60
$1,000 – $25,000
1001579478400 North’n Loans$100 – $1,500
$100 – $1,500
1001579478400 MDG$850 – $1,600 29.78% – 34.95% 36 months
$850 – $1,600
181576713600 Financeit$500 – $100,000 Starting at 12.99% Up to 60
$500 – $100,000
1001551830400 Payday King$100 – $1,000 $14 per $100 borrowed 14 days
$100 – $1,000
1001550534400 Fina Capitale$3,000 – $15,000 13.99% – 34.99% 12 – 60
$3,000 – $15,000
1001550534400 DMO Credit$300 – $1,000 Up to 38% 3 – 4
$300 – $1,000
1001549411200 Capital Cash$100 – $1,500 $14 per $100 borrowed 14 days
$100 – $1,500
1001567555200 Cash Depot$300 – $3,000 18% + fees 6
$300 – $3,000
1001549238400 Credit2Go$250 – $1,500 23.99% – 29.99% 3 – 4
$250 – $1,500
201548720000 Ledn$500 – $1,000,000 7.9% 12
$500 – $1,000,000
21543622400 Fairstone FinancialUp to $60,000 19.99% – 34.99% 6 – 120
Up to $60,000
1001545350400 Lamina$300 – $1500 Starting at 18% 3 – 7
$300 – $1500
1001545350400 514 Loans$300 – $3,000 22% – 32% 3 – 4
$300 – $3,000
51545350400 LoanMeNow$500 – $1000 Up to 32% 3
$500 – $1000
1001545350400 Urgent Loans$300 – $3,000 27% – 35% 90 – 120 days
$300 – $3,000
41545264000 easyfinancial$500 – $100,000 29.99% – 35% 9 – 84
$500 – $100,000
ProviderLoan AmountRateTerm (Months)Rating
00 Up to $50,000Prime – 35%3 – 120
Up to $50,000
81714089600 Primed Loans$10,000 – $20,000,000
$10,000 – $20,000,000
71714089600 OnTap Capital $10,000 – $2,000,000 10%+ Up to 36
$10,000 – $2,000,000
21669852800 Driven$10,000 – $300,000 3 – 24
$10,000 – $300,000
1001648512000 2M7 Financial Solutions$1000 - $250,000
$1000 - $250,000
1001620345600 TD Bank 12 – 60
1001611878400 Accord Financial
1001598918400 Loop
1001592438400 Core Capital Group Inc
1001585612800 BarterPay 6 – 60
1001580947200 Corl$200,000 – $5,000,000
$200,000 – $5,000,000
1001580860800 Travelers Financial
1001580860800 Peel Financial
1001580860800 Pioneer Financial Services$5,000 – $1,000,000
$5,000 – $1,000,000
1001580860800 Polaris Leasing
1001580860800 Patron West
1001580860800 Payability
1001580860800 Planet Financial
1001580688000 RiseUp to $10,000 Prime + 2.5% Up to 60
Up to $10,000
1001580256000 Merchant Growth$5,000 – $800,000 6 – 24
$5,000 – $800,000
1001579478400 Lift Capital$50,000 – $5,000,000 3 – 36
$50,000 – $5,000,000
1001579478400 Leaseline 24 – 60
1001579478400 Lease Direct
1001579478400 John DeereUp to $1,200,000 12 – 84
Up to $1,200,000
1001579046400 Hitachi Capital Canada
1001577059200 Export Development Canada
1001577059200 Essex Lease Financial Corporation
1001577059200 Equilease
1001575849600 Alliance Financing Group LTD$5,000 – $150,000 Starting 15% 6 – 24
$5,000 – $150,000
1001575590400 CLE Capital
1001575590400 Canada Equipment Loan
11545955200 SharpShooter Funding$1,000 – $300,000 5.49% – 22.79% 12 – 60
$1,000 – $300,000
1001552262400 Laurentian Bank of CanadaUp to $250,000 Up to 10 years
Up to $250,000
1001552262400 National BankUp to $1,000,000
Up to $1,000,000
1001551830400 Desjardins
1001551830400 Canadian Imperial Bank of Commerce (CIBC)$10,000+ Up to 15 years
$10,000+
1001551830400 ScotiabankUp to $1,000,000 Up to 15 years
Up to $1,000,000
1001551830400 Bank of Montreal (BMO)Up to $500,000 Up to 15 years
Up to $500,000
1001551830400 Royal Bank of Canada (RBC)Starting at $5,000 Up to 84
Starting at $5,000
1001551398400 Money in Motion$10,000 – $1,000,000 4% – 14% 12 – 84
$10,000 – $1,000,000
1001551139200 Lease LinkUp to $250,000 Up to 48
Up to $250,000
1001550534400 FundThrough$500 – $50,000 2.75% – 8.25% 12 week cycles
$500 – $50,000
1001550534400 Econolease Financial Services Inc.$1,000 – $1,000,000 6% – 20%
$1,000 – $1,000,000
1001550534400 Easylease CorpUp to $5,000,000 24 – 72
Up to $5,000,000
1001550534400 Capify$5,000 – $200,000
$5,000 – $200,000
1001549411200 Canadian Equipment Finance$50,000 – $12,000,000 24 – 96
$50,000 – $12,000,000
1001548720000 B2B Bank$10,000 – $300,000
$10,000 – $300,000
61545350400 IOU Financial$15,000 – $1,500,000 6 – 36
$15,000 – $1,500,000
41545177600 Lending Loop$5,000 – $500,000 4.96% – 24.93% 1 – 60
$5,000 – $500,000
ProviderLoan AmountRateTerm (Months)Rating
00 Up to $50,000Prime – 35%3 – 120
Up to $50,000
81624233600 Auto Credit Deals $5,000 – $75,000 12 – 96
$5,000 – $75,000
1001600646400 Iceberg Finance$1,000 – $35,000 12.99% – 29.99% 12 – 84
$1,000 – $35,000
1001581033600 Toyloan
1001579478400 National Powersports Financing
1001579478400 LMG Finance
1001579478400 Loans2Go
1001578873600 iA Auto Finance Starting at 10.99%
1001578873600 Gamache Group
1001551830400 Royal Bank of Canada (RBC)Starting at $5,000
Starting at $5,000
1001552262400 National BankUp to $1,000,000 up to 96
Up to $1,000,000
1001551830400 Desjardins 6 – 96
1001551830400 Canadian Imperial Bank of Commerce (CIBC)$10,000+ 12 – 96
$10,000+
1001551830400 ScotiabankUp to $1,000,000 Up to 15 years
Up to $1,000,000
1001577059200 Daimler Truck Financial
1001577059200 DealerPlan Financial
1001575849600 Canada Auto Finance$5,000 – $45,000 4.90 % – 29.95%
$5,000 – $45,000
1001575849600 Credit River Capital Inc
1001575590400 Capital Trust Financial
61569974400 Car Loans Canada Up to 29.99% 12 – 96
1001561507200 Auto Capital Canada
11560124800 Canada DrivesUp to $100,000 3.99% - 19.9% 24 -96
Up to $100,000
1001548633600 2nd Chance Automotive Starting at 4.2%
1001545177600 Carloans411 12 – 84
ProviderLoan AmountRateTerm (Months)Rating
00 Up to $50,000Prime – 35%3 – 120
Up to $50,000
1001545264000 BHM FinancialUp to $50,000
Up to $50,000
ProviderLoan AmountRateTerm (Months)Rating
00 N/AN/AN/A
N/A
1001731542400 Victoria Financial$15,000 – $1,000,000 Starts at 12% Up to 36
$15,000 – $1,000,000
51700524800 Rocket Mortgage - -
1001695945600 Mortgage Intelligence
21688601600 nestoMin $110,000 4.14% – 6.29% 24– 120
Min $110,000
1001627344000 Peoples Bank 4.50% – 5.97% 12 – 60
1001581033600 Mortgage Alliance 4.19% – 6.04% 12 – 120
1001580860800 Verico
1001580860800 True North Mortgage 2.99% – 5.49% 6 – 60
1001580860800 Tangerine$50,000+ 12 – 120
$50,000+
1001580860800 Turnedaway
1001580860800 REICO
1001579478400 Mortgage Architects 4.54% – 7.49% 6 – 120
1001578873600 Invis
1001577059200 Equitable Bank Varies
1001577059200 Dominion Lending Center
1001577059200 First National Financial LP 4.49% – 6.63% 1 – 10 years
1001574985600 CMLS Financials$10,000 – $1,000,000 4.99% – 7.29% 12 – 120
$10,000 – $1,000,000
1001574899200 CHIP Reverse Mortgage 12 – 60
1001574899200 CanWise 4.24% – 6.30%
1001560124800 Centum 4.64% – 5.80% 1 – 10 years
ProviderServicesRating
00 Debt Consolidation Program, Debt Settlement Program, Consumer Proposal, Bankruptcy Consultation
N/A (Referrer)
1001576540800 BDO Credit Counselling, Bankruptcy, Consumer Proposal
1001576540800 Raymond Chabot Bankruptcy, Consumer Proposal
1001576540800 Full Circle Debt Solutions Inc Credit Counselling, Debt Management Program
1001576368000 Consolidated Credit Credit Counselling, Debt Management Program
1001576454400 4Pillars Debt Restructuring, After Care - Credit Rebuilding Program, Corporate Debt Restructuring

Montreal is a beautiful city, with a ton to do and see. However, it is also a large city and traversing it without a car can be tough, especially in the frigid winter temperatures. While public transit and other commuting options are becoming more popular, nothing beats the convenience of having a car to go wherever you want, whenever you want.

Need a loan to repair your car? Read this.

However, not everyone has thousands of dollars sitting in an account to spend on a car. Sure, it’s possible to find a very cheap car but it likely won’t last you very long at all and could potentially be a waste of money.

Thankfully, there are countless financing options available to consumers looking for car loans in Montreal.

What Vehicles Can You Get With a Car Loan?

Without a car loan, getting a vehicle can be very difficult for the average consumer in Montreal. However, with the right car loan, you can essentially get whatever sort of car you need or want, including but not limited to:

  • SUV
  • Van
  • Truck
  • Hatchback
  • Sedan
  • Coupe
  • Convertible

Also, depending on the type of dealerships and stock in your local area, a car loan in Montreal can help you get vehicles from the likes of:

  • Mazda
  • BMW
  • Chevrolet
  • Chrysler
  • Dodge
  • Kia
  • Lexus

Also, there are RV and boat loans available for those who are interested in other types of vehicles. However, just because you can get any type, make or model of vehicle with a car loan, that doesn’t mean you should. Remember, whatever you borrow will need to be paid back (plus interest) so it is important that you make sure to only take out a loan that you will be able to afford to pay back in the future. Evaluate your needs, and then find a reliable and affordable car that meets them.

New vs. Used CarsNot sure if you should buy a new or used car? Check out this infographic.

Common Reasons Consumers Take Out Car Loans In Montreal

There is no doubting that car loans are great and helpful, but what are some of the common reasons that people need them? Well, there are a variety of different reasons behind the choice to get a car loan such as:

  • People simply don’t have enough money in cash to get a new car, so they need to get a loan to be able to afford it.
  • To upgrade to a newer model
  • To upgrade their vehicle because of a lifestyle change such as getting a large car for a growing family, or a more fuel-efficient car if you want to save more money on gas.
  • To get a more reliable vehicle with better features or warranty.
  • If your old car dies and isn’t worth anything anymore, a car loan makes it easy to get another without having a car for a prolonged period of time.

Another reason that consumers in Montreal and the rest of Canada need car loans is reliability. Canadian weather is rough and unpredictable, so you need a vehicle that can stand up to it. If not, you could find yourself on the side of the road more frequently than actually driving on the road. Getting a reliable vehicle isn’t always cheap, so car loans make it a reality for more people.

Wondering if you should repair your old car or buy a new one? Click here to find out.

Can You Get a Bad Credit Car Loan In Montreal?

A common question for those looking to get a car loan in Montreal is whether they can get a car loan with bad credit? The simpler answer is yes, but it certainly won’t be as easy or cheap as it will be for someone with good credit. But before looking a little closer at bad credit car loans in Montreal, let’s look at what bad credit is.

Bad Credit Montreal

In Canada, credit scores range from 300 on a low end to 900 on a high end. Bad credit is generally seen as any credit score under 600, but there is no concrete number, and the term “bad credit” could differ from lender to lender.

If you are interested in applying for a bad credit car loan in Montreal, the first thing to do is to save up a hefty down payment. The larger your down payment is, the less of a risk you are to lenders and the more likely they are to give you a decent deal. Also, different lenders will be more open to working with those who have less-than-perfect credit, so be sure to search around for the right lender, too.

Of course, if you’d rather increase your credit before applying for a car loan, you can do that by:

  • Making your payments on time
  • Keeping your credit utilization low
  • Using a secured credit card
  • Get rid of any unnecessary debts you have

Looking for a bad credit loan in Montreal? Try reading this.

Finding You The Right Car Loan In Montreal

In need of a new vehicle and want to secure a car loan in Montreal? If so, be sure to reach out to Loans Canada today, we can help you find the best lender for your needs.

More From Our Experts

Snowmobile Financing In Canada
Snowmobile Financing In Canada

Wondering how to finance a snowmobile if you don’t have the cash upfront? Here's everything you need to know about snowmobile financing in Canada.

Jet Ski Financing In Canada
Jet Ski Financing In Canada

Wondering how to finance a jet ski if you don’t have the cash upfront? Here's everything you need to know about jet ski financing in Canada.

Powersports Financing In Canada
Powersports Financing In Canada

Are you in the market to purchase a new or used powersport vehicle, we can help you. Find how to finance a new or used powersport vehicle.

Motorcycle Financing
Motorcycle Financing

Whether you are eyeing a sleek Harley Davidson, a trusty Yamaha, or a custom-built ride—here's our guide on how to finance a motorcycle.

Camper & Tent Trailer Financing
Camper & Tent Trailer Financing

If you’re in love with camping and the great outdoors, you could take things to the next level by purchasing a camper or tent trailer. These pull-behi...

Dirt Bike Financing Canada
Dirt Bike Financing Canada

Wondering how to finance a dirt bike if you don’t have the cash readily available. Here's everything you need to know about dirt bike financing in Can...

RV And Mobile Home Financing
RV And Mobile Home Financing

Shopping for the perfect RV to hit the road this year? We have all the information you need about financing for RV and mobile home purchases.

How To Finance An ATV In Canada
How To Finance An ATV In Canada

Whether you’re looking for something sporty, comfortable, tough or spacious, rest assured that there are plenty of ATVs available for purchase or fina...

Questions To Ask Your Dealer When Buying A Car
Questions To Ask Your Dealer When Buying A Car

Asking the right questions can help you determine if you’re comfortable purchasing a specific vehicle, whether from a dealership or a private seller.

Distracted Driving Laws In Canada
Distracted Driving Laws In Canada

To prevent accidents or costly fines, it's important to understand how your province polices and treats distracted driving.

Why choose Loans Canada?

Apply Once &
Get Multiple Offers
Save Time
And Money
Get Your Free
Credit Score
Free
Service
Expert Tips
And Advice
Exclusive
Offers
Caitlin Wood Priyanka Correia Lisa Rennie Bryan Daly Cris Ravazzano Margaret Johnson Kale Havervold Liz Enriquez Sean Cooper Veronica Ott Corrina Murdoch Chrissy Kapralos

A Team of Experts

Get expert tips and guidance from a community of renown personal finance experts right here at Loans Canada. We're here to help you stay informed so you can make the best financial decisions.

Build Credit For Just $10/Month

With KOHO's prepaid card you can build a better credit score for just $10/month.

Koho Prepaid Credit Card