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Car Loans New Brunswick

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Written by Bryan Daly

Best Car Loans New Brunswick (Online) 2020

Lender directory

Compare the best lenders in this region

Provider Loan Amount Rate Term (Months) Rating
FlexiLoans
$200 - $1,200 25% - 32%  -
$200 - $1,200
PayBright
- 0+ 2 - 60
-
Score-Up
$49.99 - $99.99 0% 12
$49.99 - $99.99
LendCare
- - Up to 60
-
ECN Capital
- - -
-
SimplyBorrowed
$500 - $5,000 - 12 - 24
$500 - $5,000
Pebble Cash
$350 - $1,000 - 2 - 12 weeks
$350 - $1,000
Refresh Financial
$1,600 - $25,000 9.47% - 20.07% APR 36 - 60
$1,600 - $25,000
GoPeer
$1,000 - $25,000 7.5% - 31.5% APR 36 - 60
$1,000 - $25,000
North’n Loans
$100 - $1,500 - -
$100 - $1,500
MDG
Up to $3,200 - -
Up to $3,200
Loan or Credit
$100 - $25,000 +4.9% -
$100 - $25,000
Flexiti Financial
- Up to 35% -
-
FinanceIT
$500 - $100,000  6.99% - 14.99% 12 - 240
$500 - $100,000
Diamond Financial Services
- - -
-
Climb
1800- 2900  15.99% 23 - 36
1800- 2900
Customer First Financing
$500 - $7,500 - -
$500 - $7,500
Fresh Start Finance
Up to $15,000 29.99% - 46.96% 9 - 60
Up to $15,000
Marble
Up to $20,000 19.44% and 31.90% 36 - 84
Up to $20,000
Money Mart
$1,000 - $15,000 19.90% - 46.90% 12 - 60 
$1,000 - $15,000
Payday King
$100 - $1,000 546% APR 14 days
$100 - $1,000
Private Loan Shop
$500 - $50,000 15 - 30% -
$500 - $50,000
Progressa
$1,000 - $15,000 19% - 46.95% 6 - 60 
$1,000 - $15,000
Money Provider
$500 - $1,000 28% - 32% -
$500 - $1,000
Lendful
$5,000 - $35,000 9.9%+ APR 36 - 60
$5,000 - $35,000
Health Smart Financial Services
$300 - $25,000 7.95%+ 36 - 60
$300 - $25,000
GoDay
$100 - $1,500 - 14 days
$100 - $1,500
iCash
Up to $1,500 15% - 23% -
Up to $1,500
Focus Financial Inc.
Up to $1,500 Up to 59% APR 14 days
Up to $1,500
Eastern Loans
$500 - $1,000 28% - 32%  3 -5
$500 - $1,000
DMO Credit
$300 - $1,000 38% APR 3 - 4
$300 - $1,000
Capital Cash
$100 - $1,000 546% APR 14 days
$100 - $1,000
Credit 700
$500 - $1,000 28% - 32%  4 - 5
$500 - $1,000
Credit2Go
$250 - $1,000 29% APR 3 - 4
$250 - $1,000
Ledn
$500 - $1,000,000 12% 12
$500 - $1,000,000
Amber Financial
$1,000 - $50,000 4.6% – 49.96% 3 - 60 
$1,000 - $50,000
Affirm Financial
$300 - $7,500 29.9% - 39.9% 6 - 60
$300 - $7,500
310 Loan
$50 - $1,500 - 14 days
$50 - $1,500
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
Ferratum
$2,000 - $10,000 18.9% - 54.9% 12 - 60
$2,000 - $10,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Fairstone
Up to $35,000 26.99% – 39.99% 6 - 60
Up to $35,000
Consumer Capital Canada
$500 - $12,500 19.99%+ 12 - 60
$500 - $12,500
Lamina
Up to $1000 30% 3 - 5
Up to $1000
Loans SOS
Up to $5,000 60% 6 - 60
Up to $5,000
Cashco Financial
Up to $7,000 - 6 – 60
Up to $7,000
UrLoan
$500 - $2,500 29% - 46.95% 6 - 36
$500 - $2,500
Loan Me Now
$500-$1000 28%-32% 3
$500-$1000
Captain Cash
$500 – $750 28% – 34.4% 3
$500 – $750
BC Loans
$500 – $750 23% - 34.4% 3 – 12
$500 – $750
Urgent Loans
$300 - $1500 27% - 35% 3 - 4
$300 - $1500
easyfinancial
$500 - $35,000 29.99% – 46.96% 9 - 60
$500 - $35,000
Mogo Finance
$300 – $35,000 5.9% to 47.72% 24 - 60
$300 – $35,000
Cash Money
$50 – $10,000 - Up to 62 days
$50 – $10,000
Borrowell
$1,000 - $35,000 5.99% to 29.19% 36 - 60
$1,000 - $35,000
Magical Credit
Up to $20,000 19.99% - 46.8% 6 - 60
Up to $20,000
Provider Loan Amount Rate Term (Months) Rating
BarterPay
- 0.9% - 12% 6 months - 5 years
-
Clearbanc
$10,000 - $10,000,000 6% - 12.5% -
$10,000 - $10,000,000
GE Capital
- - -
-
We Can Financial
- - -
-
Wajax Equipment
- - -
-
Key Equipment Financing
- - -
-
Corl
$10,000 - $1,000,000 - -
$10,000 - $1,000,000
Yellowhead Equipment Finance Ltd
- - -
-
Specialty Truck Financing
- - -
-
Travelers Financial
- - -
-
Peel Financial
- - -
-
Pioneer Financial Services
$5,000 - $1,000,000 - -
$5,000 - $1,000,000
Polaris Leasing
- - -
-
Patron West
- - -
-
Payability
up to $250,000 - -
up to $250,000
Planet Financial
- - -
-
Rise
Up to $10,000 - -
Up to $10,000
Merchant Growth
$5,000 - $500,000 - 6 - 18 months
$5,000 - $500,000
Onesta
- - -
-
Lionhart Capital
$10,000- $30,000,000 Min 4.95% -
$10,000- $30,000,000
Lift Capital
- - 12 - 120
-
Leaseline
- - 24 to 60
-
Lease Direct
- - -
-
John Deere
- - -
-
Hitachi Capital Canada
- - -
-
Export Development Canada
- - -
-
Essex Lease Financial Corporation
- - -
-
Equilease
- - -
-
Alliance Financing Group LTD
$5,000 - $150,000 15% + 6 - 24
$5,000 - $150,000
CanaCap
Up to $250,000 - -
Up to $250,000
CLE Capital
- - -
-
Canada Equipment Loan
- - -
-
SharpShooter Funding
$5,000 - $150,000 5.49% - 22.79% 12 - 60
$5,000 - $150,000
Meridian Credit Union
Up to $35,000 - -
Up to $35,000
Laurentian Bank of Canada
Up to $250,000 - Up to 10 years
Up to $250,000
HSBC Bank Canada
- - -
-
National Bank
Up to $1,000,000 - -
Up to $1,000,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - Up to 15 years
$10,000+
Scotiabank
Up to $1,000,000 -   Up to 15 years
Up to $1,000,000
Bank of Montreal (BMO)
Up to $500,000 - Up to 10 years
Up to $500,000
Royal Bank of Canada (RBC)
$5,000 - $10,000 - Up to 7 years
$5,000 - $10,000
CWB National Leasing
$3,500+ - -
$3,500+
Money in Motion
$10,000 - $1,000,000 4% - 14% 12 - 84
$10,000 - $1,000,000
Lease Link
Up to $75,000 - Up to 18
Up to $75,000
FundThrough
$500-$50,000 0.5% weekly 12 week cycles
$500-$50,000
Econolease Financial Services Inc.
$1,000 - $1,000,000 6% - 20% -
$1,000 - $1,000,000
Easylease Corp
Up to $5,000,000 4.5% 24 - 72
Up to $5,000,000
Capify
$5,000 - $200,000 - -
$5,000 - $200,000
Canadian Equipment Finance
$50,000 - $12,000,000 - 24 - 96
$50,000 - $12,000,000
Capital Key
$5,000 - $1,000,000+ - 1 - 60
$5,000 - $1,000,000+
Cashbloom
$5,000 - $1,000,000 - 3 - 24
$5,000 - $1,000,000
BFS Captial
$5,000 - $5,000,000 - 4 - 18
$5,000 - $5,000,000
BDC
Up to $100,000 6.05% + 60
Up to $100,000
Baron Finance
$10,000+ 18% - 22% -
$10,000+
B2B Bank
$10,000 - $300,000 4.70% - 5.45% -
$10,000 - $300,000
Borrowell
$1,000 - $35,000 5.6% – 25.5% 36 – 60
$1,000 - $35,000
iCapital
$5,000 - $250,000 - 3-18
$5,000 - $250,000
Lendified
$5,000 - $150,000 - 3 - 24
$5,000 - $150,000
IOU Financial
$5,000 – $100,000 15% + 12 – 18
$5,000 – $100,000
Company Capital
$5,000 – $100,000 Starting at 6.87% 3 – 18
$5,000 – $100,000
OnDeck
$5,000-$250,000 8% - 29% APR 6 - 18
$5,000-$250,000
Lending Loop
$5,000 – $500,000 Starting at 5.9% 3 – 60
$5,000 – $500,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Thinking Capital
Up to $300,000 - -
Up to $300,000
Provider Loan Amount Rate Term (Months) Rating
Bryden Financing & Auto Sales
- +4.99% -
-
Alphera Financial Services
- - -
-
Eden Park
- - -
-
WeFinanceCars
- + 4.9% -
-
Walker Financial Services
- - -
-
Rifco
- - -
-
National Powersports Financing
- - -
-
LMG Finance
- - -
-
Loans2Go
- - -
-
iA Auto Finance
- +8.99% -
-
Gamache Group
- - -
-
Royal Bank of Canada (RBC)
$5,000 - $10,000 - up to 84
$5,000 - $10,000
Laurentian Bank of Canada
Up to $250,000 - 12 - 60
Up to $250,000
National Bank
Up to $1,000,000 - up to 96
Up to $1,000,000
Desjardins
Up to $100,000 - 6 - 96
Up to $100,000
Canadian Imperial Bank of Commerce (CIBC)
$10,000+ - 12 - 96
$10,000+
Scotiabank
Up to $1,000,000 - up to 96
Up to $1,000,000
Daimler Truck Financial
- - up to 72
-
DealerPlan Financial
- - -
-
Coast Capital
- - -
-
Canada Auto Finance
$5000 - $45,000 4.90 % - 29.95% APR 36 - 72 
$5000 - $45,000
Credit River Capital Inc
- - -
-
Capital Trust Financial
- - -
-
Canadian Truck Loan
- - -
-
Cars on Credit Financial
- 14.5% to 29.9% -
-
Canada Car Loans
- - -
-
Car Loans Canada
$7500 - $59,995 3.95% + 12 - 96
$7500 - $59,995
Car Creditex
- Up to 49.9% -
-
Auto Capital Canada
- - -
-
Carfinco
- - Up to 84
-
Canada Drives
$500 - $35,000 $29.99% – 46.96% 9 - 60
$500 - $35,000
Prefera Finance
Up to $30,000 - -
Up to $30,000
Approve Canada
- - -
-
2nd Chance Automotive
- 4.2%+ -
-
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
SkyCap Financial
$500 - $10,000 12.99% – 39.99% 9 – 36
$500 - $10,000
Splash Auto Finance by Rifco
Up to $50,000 - -
Up to $50,000
Carloans411
$5,000 – $40,000 - 12 – 72
$5,000 – $40,000
AutoArriba
- - Maximum 84
-
Provider Loan Amount Rate Term (Months) Rating
Instant Loans Canada
$1,000 - $35,000 - 24 - 60
$1,000 - $35,000
Newstart Canada
Up to $20,000 19% - 49% 36 - 48
Up to $20,000
BHM Financial
Up to $25,000 - 12 - 60
Up to $25,000
Provider Loan Amount Rate Term (Months) Rating
Mortgage Alliance
- 2.74% - 6.30% 12 - 120
-
Paradigm
- - -
-
Verico
- - -
-
True North Mortgage
- 2.64% - 4.45% 12 - 120
-
Tangerine
$50,000+ 2.74% - 3.49% 12- 120
$50,000+
Turnedaway
- - -
-
REICO
- - -
-
Motusbank
- 2.79% - 6.00%  6 - 60 
-
Mortgage Architects
- 2.74% - 3.70% 6 - 120
-
IntelliMortgage
- - -
-
Invis
- 2.69% - 3.95% 6 - 120 
-
Dominion Lending Center
- - -
-
First National
- 2.84% - 7.30% -
-
CHIP Reverse Mortgage
min 25,000 4.99% - 5.59% 6 - 60
min 25,000
Centum
- 2.89% - 3.79% -
-
Broker Financial Group Inc.
- 2.41% - 3.84% -
-
Provider Services Rating
BDO
Credit Counselling, Bankruptcy, Consumer Proposal
Credit Counselling, Bankruptcy, Consumer...
MNP
Personal Bankruptcy, Consumer Proposal
Personal Bankruptcy, Consumer Proposal...
Raymond Chabot
Bankruptcy, Consumer Proposal
Bankruptcy, Consumer Proposal...
Full Circle Debt Solutions Inc
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...
Consolidated Credit
Credit Counselling, Debt Management Program
Credit Counselling, Debt Management Prog...

Many New Brunswick inhabitants need access to a car to go about their daily activities. Unfortunately, reliable cars don’t always come cheap, which is where a good car loan can definitely come in handy.

With the right car loan, you can purchase makes and models of all kinds in New Brunswick, such as:

  • Subaru
  • Honda
  • Chrysler
  • Cadillac
  • Toyota
  • Infinity
  • And plenty of other brands!

Need a New Brunswick personal loan instead? Take a look at this.  

How Else Can a Car Loan Help Me in New Brunswick?

Good question! Car loans aren’t just beneficial because they make newer cars more affordable. They also are helpful in a ton of other ways. For instance:

  • As a credit building/improvement tool. The more timely, complete car payments you make, the better it is for your credit score when your dealership or lender in New Brunswick reports your activity to Canada’s credit bureaus (Equifax, TransUnion)
  • To reduce the cost of your next car. Under certain circumstances, it’s often possible to “trade-in” your current car for another. If your car has some value, your dealership might deduct that value from the price of your next car. What happens if you want to trade in a car that’s not paid off? Find out here.
  • To buy a hybrid or an electric car. Speaking of trade-ins, it might be time to reduce your fuel consumption by switching your gas-guzzler for something more practical. However, green cars can be pricey, so a car loan can be a perfect payment method.
  • To reduce your stress. While car costs can be a pain, having the option of a car at your disposal can give you some much-needed peace of mind.

What is a Vehicle-Title Loan and How Can it Benefit Me?    

If you’ve already paid off the full balance of your current vehicle, whether it was by car loan or otherwise, it’s possible to use your vehicle title to benefit you even further. While this option depends on your lender’s policies in New Brunswick, it can be a good way of accessing installment-style loans of varying amounts, especially when you have bad credit.  

Here’s what would happen:

  • You’ll get your car inspected through your dealership or mechanic in New Brunswick, giving you it’s approximate value in today’s car market.
  • If your car does have a decent enough value to qualify, your lender will grant you a loan of a similar amount, using your vehicle title as collateral, similar to your other assets (house, real estate property, etc.).
  • Be careful! Your lender now owns the rights to your vehicle temporarily.
  • You’ll then have a specific period during which you’ll pay back your loan through scheduled payments (installments).
  • If you make all your payments on time, your loan term will eventually conclude and your vehicle title will be returned. If you miss too many payments, your lender might repossess and sell your car to regain part of their loss.
  • If all goes well, however, you can use your vehicle title loan for whatever expenses you need, all while building and improving your credit.

New vs. Used CarsCheck out this infographic to compare purchasing a new car vs. a used car. 

Why Does My Credit Matter?

Since any car (new or luxury models especially) can cost a pretty penny, your dealership or lender in New Brunswick needs to confirm that you have the financial fortitude to pay them back in full and on schedule.

So, during the application process, they’re likely to examine your:

  • Credit (report, score, history, rating)
  • Gross monthly/yearly income
  • Employment history
  • Current debts

Your credit report and credit score (ranging from 300-900) are particularly important because they showcase how you’ve been handling your other credit products (credit cards, loans, mortgage, etc.)

Good Credit (score of 650 or above) can lead to:

  • Higher chances of approval for newer and/or more expensive cars.
  • A lower interest rate for your scheduled payments (saving you money over time).

Bad Credit (score of 620 or less) can lead to:

  • Lower chances of approval for any type of car.
  • A higher interest rate for your scheduled payments (costing you more over time).
  • More necessity for compensation, such as:

While you can certainly find New Brunswick dealerships who will offer you a car loan even with your bad credit, you can potentially save money when you improve your credit with these helpful steps:

  • Build a history of responsible debt payments – By paying off all your other credit accounts (credit cards, lines of credit, etc.) on time and in full, you’ll be raising your credit score.
  • Fixing errors in your credit report – A single error in your credit history caused by a payment that wasn’t reported properly can cause serious harm to your credit score. Review your credit report (free once per year with Equifax or TransUnion) and dispute such errors to rectify the situation.
  • Use less of your available credit – Even if you have to use cash or debit, staying as far below your credit card limit as possible should boost your score. Use less than 30-35% of your available credit for the best results.
  • Avoid hard inquiries – Every time a lender pulls your credit report to determine the likelihood of you defaulting on your loan, a notice of “hard inquiry” gets added to your credit history. These types of credit inquiries lower your score by a few points and remain in your profile for several years. Too many hard inquiries not only damage your score, but it also makes you look irresponsible like you’re being denied for credit by a bunch of other New Brunswick lenders.

Can I Use a Car Loan For Recreational Vehicles in New Brunswick?

Cars and trucks aren’t the only types of vehicles you can access with these types of loans. Depending on your lender/dealership in New Brunswick, you can also get approved for:

  • Trailers, mobile-campers, etc.
  • Boats, jet-skis, etc.
  • Motorcycles, all-terrain-vehicles, snowmobiles, etc.

Need a short term loan in New Brunswick? Check this out.

How Can Loans Canada Help New Brunswick Drivers?

Here at Loans Canada, we can help you gain access to loans of all kinds, including solid car loans. Just contact us and apply today to be linked up with the right sources for all your credit product needs!

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