Written by Kale Havervold

Best Car Loans Edmonton (Online) January 2021

Lender directory

Compare the best lenders in this region

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
17	1607558400	$500 - $50,000	6.99% - 46.99%	12 - 36	$500 - $50,000
100	1598918400	$1,000 - $15,000	-	-	$1,000 - $15,000
100	1598832000	$500 – $15,000	+ 25.99%	9 - 60	$500 – $15,000
100	1595980800	$200 - $1,200	25% - 32%	-	$200 - $1,200
11	1593561600	-	0+	2 - 60	-
12	1589155200	$2,500	15.65% AIR	13 - 26	$2,500
8	1588809600	$49.99 - $99.99	0%	12	$49.99 - $99.99
100	1582243200	-	-	Up to 60	-
100	1580947200	-	-	-	-
7	1580860800	$500 - $5,000	-	12 - 24	$500 - $5,000
100	1580860800	$350 - $1,000	-	2 - 12 weeks	$350 - $1,000
2	1580860800	$1,600 - $25,000	9.47% - 20.07% APR	36 - 60	$1,600 - $25,000
10	1580774400	$1,000 - $25,000	7.5% - 31.5% APR	36 - 60	$1,000 - $25,000
100	1579478400	$100 - $1,500	-	-	$100 - $1,500
100	1579478400	Up to $3,200	-	-	Up to $3,200
100	1579219200	$100 - $25,000	+4.9%	-	$100 - $25,000
100	1576713600	-	Up to 35%	-	-
18	1576713600	$500 - $100,000	6.99% - 14.99%	12 - 240	$500 - $100,000
100	1576627200	-	-	-	-
100	1575590400	1800- 2900	15.99%	23 - 36	1800- 2900
100	1562198400	$500 - $15,000	15.99 - 39.99%	6 - 60	$500 - $15,000
13	1560124800	Up to $15,000	29.99% - 46.96%	9 - 60	Up to $15,000
9	1545955200	Up to $20,000	19.44% and 31.90%	36 - 84	Up to $20,000
8	1552262400	$1,000 - $15,000	19.90% - 46.90%	12 - 60	$1,000 - $15,000
100	1569974400	$500 - $50,000	15 - 30%	-	$500 - $50,000
100	1551830400	$1,000 - $15,000	19% - 46.95%	6 - 60	$1,000 - $15,000
100	1551398400	Up to $1,500	15% - 19%	14 days	Up to $1,500
100	1551398400	$100 - $1,500	15% - 17%	14 -31 days	$100 - $1,500
100	1551398400	$500 - $1,000	28% - 32%	-	$500 - $1,000
100	1551398400	-	-	14 days	-
15	1546128000	Up to $5,000	19.9% - 45.9% APR	6 - 36	Up to $5,000
100	1551139200	$5,000 - $35,000	9.9%+ APR	36 - 60	$5,000 - $35,000
100	1551139200	Up to $15,000	19.99% APR	Open-end	Up to $15,000
100	1550534400	$300 - $25,000	7.95%+	36 - 60	$300 - $25,000
100	1550534400	$100 - $1,500	-	14 days	$100 - $1,500
100	1569974400	Up to $1,500	15% - 23%	-	Up to $1,500
100	1550534400	Up to $1,500	Up to 59% APR	14 days	Up to $1,500
19	1550534400	$2,500 +	-	-	$2,500 +
100	1550534400	$500 - $1,000	28% - 32%	3 -5	$500 - $1,000
100	1550534400	$300 - $1,000	38% APR	3 - 4	$300 - $1,000
100	1549238400	$500 - $1,000	28% - 32%	4 - 5	$500 - $1,000
100	1549238400	$250 - $1,000	29% APR	3 - 4	$250 - $1,000
20	1548720000	$500 - $1,000,000	12%	12	$500 - $1,000,000
100	1548720000	Up to $5,000	-	12 - 60	Up to $5,000
100	1548720000	$1,000 - $50,000	4.6% – 49.96%	3 - 60	$1,000 - $50,000
100	1548633600	$300 - $7,500	29.9% - 39.9%	6 - 60	$300 - $7,500
100	1548633600	$50 - $1,500	-	14 days	$50 - $1,500
16	1545264000	$2,000 - $10,000	18.9% - 54.9%	12 - 60	$2,000 - $10,000
100	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1545264000	$500 – $10,000	Starting at 9.90%	12 - 36	$500 – $10,000
1	1543622400	Up to $35,000	26.99% – 39.99%	6 - 60	Up to $35,000
100	1545264000	$500 - $12,500	19.99%+	12 - 60	$500 - $12,500
100	1545350400	Up to $1000	30%	3 - 5	Up to $1000
100	1545350400	Up to $5,000	60%	6 - 60	Up to $5,000
100	1545350400	Up to $7,000	-	6 – 60	Up to $7,000
100	1545350400	$500 - $2,500	29% - 46.95%	6 - 36	$500 - $2,500
100	1545350400	$500-$1000	28%-32%	3	$500-$1000
100	1545350400	$500 – $750	28% – 34.4%	3	$500 – $750
100	1545350400	$500 – $750	23% - 34.4%	3 – 12	$500 – $750
100	1545350400	$300 - $1500	27% - 35%	3 - 4	$300 - $1500
6	1545264000	$500 - $35,000	29.99% – 46.96%	9 - 60	$500 - $35,000
4	1545264000	$300 – $35,000	5.9% to 47.72%	24 - 60	$300 – $35,000
100	1568937600	$50 – $10,000	-	Up to 62 days	$50 – $10,000
5	1545177600	$1,000 - $35,000	5.99% to 29.19%	36 - 60	$1,000 - $35,000
14	1545177600	Up to $20,000	19.99% - 46.8%	6 - 60	Up to $20,000
100	1569974400	Up to $1,500	15% - 23%	14 days	Up to $1,500

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
17	1607558400	$500 - $50,000	6.99% - 46.99%	6 - 36	$500 - $50,000
100	1598918400		-	-
100	1592438400	-	-	-	-
100	1585612800	-	0.9% - 12%	6 months - 5 years	-
100	1581984000	$10,000 - $10,000,000	6% - 12.5%	-	$10,000 - $10,000,000
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1581033600	-	-	-	-
100	1580947200	-	-	-	-
100	1580947200	$10,000 - $1,000,000	-	-	$10,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	$5,000 - $1,000,000	-	-	$5,000 - $1,000,000
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	up to $250,000	-	-	up to $250,000
100	1580860800	-	-	-	-
100	1580688000	Up to $10,000	-	-	Up to $10,000
100	1580256000	$5,000 - $500,000	-	6 - 18 months	$5,000 - $500,000
100	1579478400	-	-	-	-
100	1579478400	$10,000- $30,000,000	Min 4.95%	-	$10,000- $30,000,000
100	1579478400	-	-	12 - 120	-
100	1579478400	-	-	24 to 60	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579046400	-	-	-	-
100	1578873600	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1577059200	-	-	-	-
100	1575849600	$5,000 - $150,000	15% +	6 - 24	$5,000 - $150,000
100	1575849600	Up to $250,000	-	-	Up to $250,000
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
1	1545955200	$5,000 - $150,000	Fee-Based: Starting at 9%	12 - 60	$5,000 - $150,000
100	1552262400	$500,000 - $10,000,000	-	-	$500,000 - $10,000,000
100	1548720000	Up to $5,000	Prime +7% or 8%	36 - 60	Up to $5,000
100	1541030400	Up to $35,000	-	-	Up to $35,000
100	1552262400	Up to $250,000	-	Up to 10 years	Up to $250,000
100	1552262400	-	-	-	-
100	1552262400	Up to $1,000,000	-	-	Up to $1,000,000
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 10 years	Up to $500,000
100	1551830400	$5,000 - $10,000	-	Up to 7 years	$5,000 - $10,000
100	1551398400	$3,500+	-	-	$3,500+
100	1551398400	$10,000 - $1,000,000	4% - 14%	12 - 84	$10,000 - $1,000,000
100	1551139200	Up to $75,000	-	Up to 18	Up to $75,000
100	1550534400	$500-$50,000	0.5% weekly	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	4.5%	24 - 72	Up to $5,000,000
100	1550534400	-	-	-	-
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	1549411200	$5,000 - $1,000,000+	-	1 - 60	$5,000 - $1,000,000+
100	1549238400	$5,000 - $1,000,000	-	3 - 24	$5,000 - $1,000,000
100	1548720000	$5,000 - $5,000,000	-	4 - 18	$5,000 - $5,000,000
100	1548720000	Up to $100,000	6.05% +	60	Up to $100,000
100	1548720000	$10,000+	18% - 22%	-	$10,000+
100	1548720000	$10,000 - $300,000	4.70% - 5.45%	-	$10,000 - $300,000
100	1548633600	Up to $5,000,000	5% - 10%	12 - 60	Up to $5,000,000
5	1545177600	$1,000 - $35,000	5.6% – 25.5%	36 – 60	$1,000 - $35,000
100	1545264000	$5,000 - $250,000	-	3-18	$5,000 - $250,000
100	1545264000	$5,000 - $150,000	-	3 - 24	$5,000 - $150,000
100	1545350400	$5,000 – $100,000	15% +	12 – 18	$5,000 – $100,000
100	1545264000	$5,000 – $100,000	Starting at 6.87%	3 – 18	$5,000 – $100,000
100	1545177600	$5,000-$250,000	8% - 29% APR	6 - 18	$5,000-$250,000
100	1545177600	$5,000 – $500,000	Starting at 5.9%	3 – 60	$5,000 – $500,000
100	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1561507200	Up to $300,000	-	-	Up to $300,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
17	1607558400	$500 - $50,000	-	24 - 60	$500 - $50,000
100	1594339200	-	-	-	-
100	1582761600	-	-	12 - 96	-
4	1582761600	-	11.9% - 22.9%	Up to 84	-
100	1581033600	-	+ 4.9%	-	-
100	1581033600	-	-	-	-
100	1580688000	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1579478400	-	-	-	-
100	1578873600	-	+8.99%	-	-
100	1578873600	-	-	-	-
100	1551830400	$5,000 - $10,000	-	up to 84	$5,000 - $10,000
100	1552262400	Up to $250,000	-	12 - 60	Up to $250,000
100	1552262400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1551830400	Up to $100,000	-	6 - 96	Up to $100,000
100	1551830400	$10,000+	-	12 - 96	$10,000+
100	1551830400	Up to $1,000,000	-	up to 96	Up to $1,000,000
100	1577059200	-	-	up to 72	-
100	1577059200	-	-	-	-
100	1575849600	-	-	-	-
100	1575849600	$5000 - $45,000	4.90 % - 29.95% APR	36 - 72	$5000 - $45,000
100	1575849600	-	-	-	-
100	1575590400	-	-	-	-
100	1575590400	-	-	-	-
100	1575504000	-	-	-	-
100	1574985600	-	-	-	-
2	1569974400	$7500 - $59,995	3.95% +	12 - 96	$7500 - $59,995
100	1562112000	-	Up to 49.9%	-	-
100	1561507200	-	-	-	-
100	1561507200	-	-	Up to 84	-
1	1560124800	$500 - $35,000	$29.99% – 46.96%	9 - 60	$500 - $35,000
100	1551830400	Up to $30,000	-	-	Up to $30,000
100	1548720000	-	-	-	-
100	1548633600	-	4.2%+	-	-
100	1545264000	$500 - $10,000	12.99% – 39.99%	9 – 36	$500 - $10,000
100	1545177600	Up to $50,000	-	-	Up to $50,000
100	1545177600	$5,000 – $40,000	-	12 – 72	$5,000 – $40,000
100	1545177600	-	-	Maximum 84	-

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1578873600	$1,000 - $35,000	-	24 - 60	$1,000 - $35,000
100	1545264000	$500 – $10,000	Starting at 9.90%	12 - 36	$500 – $10,000
100	1545264000	Up to $25,000	-	12 - 60	Up to $25,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	2.00% – 46.96%	3-60 months	N/A (Intermediary) Up to $50,000
100	1581033600	-	2.74% - 6.30%	12 - 120	-
100	1580947200	-	-	-	-
100	1580860800	-	-	-	-
100	1580860800	-	2.64% - 4.45%	12 - 120	-
100	1580860800	$50,000+	2.74% - 3.49%	12- 120	$50,000+
100	1580860800	-	-	36 - 60	-
100	1580860800	-	-	-	-
100	1580860800	-	-	-	-
100	1580688000	-	2.79% - 6.00%	6 - 60	-
100	1579478400	-	2.74% - 3.70%	6 - 120	-
100	1578873600	-	-	-	-
100	1578873600	-	2.69% - 3.95%	6 - 120	-
100	1577059200	$25,000 - $800,000	4.59% - 5.64%	6 - 60	$25,000 - $800,000
100	1577059200	-	-	-	-
100	1577059200	-	--	-	-
100	1577059200	-	2.84% - 7.30%	-	-
100	1574985600	$100,000 - $750,000	-	12 - 120	$100,000 - $750,000
100	1574899200	min 25,000	4.99% - 5.59%	6 - 60	min 25,000
100	1574899200	-	2.23% - 4.45%	-	-
100	1560124800	-	2.89% - 3.79%	-	-
100	1548806400	$10,000 - $1,500,000	Varies	12 - 24	$10,000 - $1,500,000
100	1548720000	-	2.41% - 3.84%	-	-
100	1548720000	-	-	-	-
100	1548633600	-	-	-	-

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

Edmonton is one of the largest cities in the country both in terms of population and size. As a result, it is no surprise that most residents need a car to get around the city. In fact, there were nearly 700,000 vehicles registered in Edmonton as of mid-2018.

However, the amount of people in Edmonton that could actually afford to purchase their car in cash is far below that number. If people were only able to drive cars they could buy in cash, most of us would have much worse vehicles or no car at all. Thankfully, a variety of different types of car financing exist and help millions of people every year afford reasonable and reliable transportation.

Can’t afford a new car? Consider a certified pre-owned vehicle.

What Type of Vehicles Can You Get in Edmonton?

The good news is, no matter what kind of vehicle you want, a car loan will be able to help you. So whether you are located in the snowy tundra and need something safe or you make several trips a week into downtown Edmonton and need something good on gas, a car loan is just what you need. This includes:

Trucks
Sedans
Coupes
Electric cars
Convertibles
Hatchbacks

Of course, what you can actually get will depend on what your local dealership in Edmonton has in stock and ready to sell.

While you can technically get any vehicle you want with a car loan, it is a good idea to still be smart about it. Getting a loan that is too expensive just so you can get a car that is far out of your price range is an occurrence that is all-too-common in Canada and can be very costly. Because of this, it is best to get a car that is reliable and meets your needs, without breaking the bank at the same time.

For even more information about your auto financing options, click here.

Bad Credit Car Loans in Edmonton

Like any loan, getting a good car loan will depend on a couple of different things. This includes your credit score, payment history, and how much debt you currently have. If you have a good credit score, haven’t missed any payments, and have a manageable amount of debt, you should have no trouble getting a car loan at a reasonable rate.

Read this for an idea of how much car you can realistically afford.

However, things may not be so easy if the opposite is true. Bad credit (which is often seen as a credit score that is less than 600) can make securing an affordable loan in Edmonton and Canada, in general, more difficult. Thankfully, there are some things that individuals with bad credit can do to still qualify for a car loan.

Offer a Large Down Payment

One thing you can do is save for a larger down payment. The larger your down payment, the more a lender will be willing to look past your bad credit.

Choose The Right Lender

Another thing you can do is be selective of the lender you work with in Edmonton. Some lenders are more willing to work with bad credit individuals, so be sure to shop around your area to find one that works for you.

Click here to see what bad credit lenders look at when assessing loan eligibility.

Improve Your Credit

If you’d rather improve your credit than take a chance with one of the above options, that is perfectly fine as well. Doing things like paying down debt, making payments on time, using credit cards carefully, and keeping your credit card balances low are great ways to improve your credit quickly.

Looking for a bad credit car loan in Canada? Check out this article.

Why Do Consumers Need New Vehicles?

So there is no doubt that car loans have helped thousands of people across Canada and Edmonton. Having a vehicle is important for a variety of reasons and the one you have might not be cutting it. In fact, there are actually several different reasons why consumers may need a car loan for a new vehicle. These include:

Upgrading your current model to a newer one. This could be to gain access to better features or simply even if you like a new design better.
Getting a larger vehicle for your growing family. An SUV or a sedan is a much better and more practical choice for a vehicle than that old two-seater you have been driving since high school.
Getting a different vehicle to go along with a new job. If your new job requires transporting goods, you may need something bigger.
To get something more reliable during the winter to ensure you can get to work on time.
Because your old car suddenly died and you cannot afford a new one in cash. Being without a car when you are used to having one can feel incredibly uncomfortable and inconvenient.

As you can see, car loans can get you out of a lot of different binds that you might find yourself stuck in. Without them, the process of getting a new car or dealing with any of the mentioned situations would prove to be much more difficult.

Take a look at this infographic for some differences between new and used cars.

The Best Car Loan For Your Needs

Are you in Edmonton and in need of a car? If so, a car loan is certainly the right thing for you. If you need assistance finding a great car loan, look no further than Loans Canada. We have helped many people in Edmonton find a great car loan, and feel strongly that we can do the same for you.

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