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Car Loans Kitchener

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Updated On: October 4, 2021

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Car Loans Kitchener - Compare Providers

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
19	1746662400	$250 - $1,500	$14 per $100	Up to 62 days	$250 - $1,500
100	1741219200	Up to $1,000	0% interest (30.4% APR)	30 days (revolving)	Up to $1,000
20	1718582400	$100 – $1500	$8 per $100 + 24%	Up to 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
100	1694390400	$500 – $2,500	18.99%		$500 – $2,500
18	1695254400	$500 – $5,000	Up to 32%	3 – 4	$500 – $5,000
10	1692748800	Up to $500	0%	Up to 65 days	Up to $500
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
9	1670889600	$1,000 – $15,000	19.9% – 34.9%	–	$1,000 – $15,000
11	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	14 days	Up to $1,500
100	1623369600	Varies	0%	6 or 8 weeks	Varies
1	1620777600	Up to $35,000	9.99% – 34.95%	6 – 60 months	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	–	9.9% – 29.9%	12 – 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 months	$1,000 – $25,000
100	1579478400	$100 – $1,500	$14 per $100	–	$100 – $1,500
7	1579478400	Up to $20,000	19.8% – 34.99%	36 – 85 months	Up to $20,000
100	1579219200	Up to $1,500	$14 per $100	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 – $25,000	29.9% or 34.28%	6 – 84 months	$500 – $25,000
100	1551830400	$100 – $1,000	$14 per $100	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	14 days	Up to $1,500
100	1551398400	$100 – $1,500	$14 per $100	14 – 31 days	$100 – $1,500
100	1551398400	Up to $1,500	$14 per $100	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
15	1551139200	Up to $15,000	34.99%	Open-ended	Up to $15,000
100	1550534400	$100 – $1,500	$14 per $100	14 days	$100 – $1,500
2	1569974400	Up to $1,500	$14 per $100	Up to 62 days	Up to $1,500
100	1550534400	Up to $1,500	$14 per $100	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	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	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
11	1545264000	$500 – $100,000	12.99% – 34.99%	9 – 60 months	$500 – $100,000
100	1545264000	$500 – $10,000	Starting at 9.90%	12 – 36	$500 – $10,000
6	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 – $150,000	9.99% – 34.99%	9 - 240	$500 – $150,000
4	1545264000	Up to $5,000	34.37%	–	Up to $5,000
8	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 months	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
100	1745452800	$10,000 - $1,000,000	12% +	3 - 24	$10,000 - $1,000,000
9	1725321600	Up to $40,000	$0.75 per $1,000 per day	–	Up to $40,000
4	1714089600	$10,000 – $20,000,000	–	–	$10,000 – $20,000,000
3	1714089600	$10,000 – $2,000,000	10%+	Up to 36	$10,000 – $2,000,000
5	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
2	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	–	12 – 120	$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	-	–	Up to 84	-
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
8	1545350400	$15,000 – $1,500,000	–	6 – 36	$15,000 – $1,500,000
6	1545177600	$5,000 – $300,000	9% – 35%	Varies by product	$5,000 – $300,000
7	1545177600	$5,000 – $500,000	4.96% – 24.93%	1 – 60	$5,000 – $500,000

		Loan Amount	Rate	Term (Months)	Rating
0	0	Up to $50,000	Prime – 35%	3 – 120	Up to $50,000
100	1749600000	–	–	Up to 96 months	–
19	1582243200	–	–	Up to 60 months	–
6	1543622400	Up to $60,000†	19.99% – 34.99%*	6 – 120 months	Up to $60,000†
5	1545264000	$500 – $150,000	9.99% – 34.99%	9 - 240	$500 – $150,000
100	1620345600	–	–	Up to 96 months	–
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	-	–	12 – 96 months	-
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 months	$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%	–	–
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	1743984000	Consumer Proposal, Bankruptcy
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

Unless you live directly on a subway line or bus route, it can be tough to get around without a vehicle in Kitchener. And even if you’re within close proximity to public transit, many of your destinations may be far off the routes.

Further, if you live in suburban and rural parts of Kitchener, living without a car is nearly impossible.

But cars are so expensive these days. Even used cars cost a few thousand dollars, which many consumers in Kitchener don’t have readily available in their bank accounts. So, what’s a prospective car buyer supposed to do if they don’t have enough money to pay for a vehicle in full upfront?

That’s where car loans come into play. With these types of loans, you can finance a car purchase and get the wheels you need to get to and from work every day.

Read on to find out all about car loans and how to get approved for one.

Interested in financing a private auto sale? This article is for you.

What Types of Vehicles Can You Get With a Car Loan Kitchener?

No matter what type of car you are considering buying, there’s usually a car loan that can be secured to finance it. There really is no restriction on the exact type of vehicle that a car loan will cover.

Here are just some of the types of vehicles that a car loan in Kitchener will cover.

Sedans
Hatchbacks
Stationwagons
Compact cars
Mid-size vehicles
Full-size vehicles
SUVs
Trucks
Pick-up trucks
Vans
Sports cars
Luxury cars

Auto Financing 101, click here.

What Are Some Reasons Why Consumers Need Car Loans in Kitchener?

There are a number of situations in which consumers need the help of a car loan to fund a new car purchase:

Car prices are too expensive for consumers to pay for in an all-cash transaction
To upgrade a vehicle to a newer model
To get a larger vehicle to accommodate an expanding family
To get a more reliable car to drive to and from work every day
To replace a vehicle severely damaged in an accident

Bad Credit Car Loans Kitchener

No matter what type of loan you’re after, lenders in Kitchener who provide such loans will want to work with a borrower who will be able to repay the loan amount in full by the specified maturity date. They don’t want to risk providing a huge lump sum of money to a borrower who will not make regular payments.

As such, lenders in Kitchener do their due diligence before approving loans and assess borrowers to make sure they’re financially responsible. And one of the ways to check into the financial health of a borrower is to look at their credit score.

A high credit score means the borrower has been responsible with their bill payments in the past and has been making them in a timely fashion every month. But a low credit score means the borrower likely missed a few bill payments in the past or has even completely defaulted on a loan. In this case, the borrower will be a lot less likely to be eligible for a car loan.

Do you have bad credit? If so, how will you be able to get approved for a car loan to help you fund a car purchase?

While you will have a better chance of getting turned down for a traditional car loan, you may have better odds of securing a bad credit car loan from an alternative lender.

Do you know how much car you can realistically afford? Find out here.

In Kitchener, the minimum credit score needed to get approved for a conventional car loan is around 650. If your score is less than that, you may want to look at dealing with an alternative bad credit lender. These lenders don’t focus so much on credit scores and instead look at a borrower’s income, deposit amount, collateral, and most recent payment activity.

Keep in mind that you will probably have to come up with a hefty down payment amount and will likely be charged more interest in exchange for getting a car loan despite your bad credit score.

Alternatively, you could take some time to improve your credit score, which you can do by:

Paying all your bills on time
Keeping your credit card spending to less than 20% of your credit limit
Avoiding new loan applications
Making far more than the minimum payment amounts on your credit card

By boosting your credit score, you’ll not only stand a better chance of getting approved for a car loan in Kitchener with a traditional lender, but you’ll also be able to secure a lower interest rate, which can save you quite a bit of money.

For more information about what affects your credit score, check out this infographic.

Use Your Car to Borrow Money With a Vehicle Title Loan

If you’re not necessarily looking for a car loan but are in need of a personal loan to cover a big expense, you might be able to use your car to collateralize a loan.

If you outright own your vehicle (which means you no longer owe any more money on a car loan), you may be able to use your vehicle in the form of a vehicle title loan to get access to the funds you require.

With a vehicle title loan, you allow your Kitchener lender to put a lien on the title of your car and surrender the hard copy of your ownership in exchange for the loan amount you need. Once the money is paid back in full, the lien is removed and you get your ownership back.

These loan types can be highly convenient, especially if you lack the credit score needed to get a conventional personal loan. Just make sure that you are able to make the monthly payments, or else you risk losing your vehicle if you default.

Recreational Vehicle Loans in Kitchener

Traditional cars, trucks, and SUVs that you see on the road aren’t the only types of vehicles that can be financed. There are also recreational vehicle loans available in Kitchener for those who wish to purchase any one of the following types of vehicles:

RVs
Motorhomes
Trailers
Motorcycles
Dirt bikes
Sea-doos
Ski-doos
Boats

Can you get a vehicle title loan without a clear title? Find out here.

What About Old Car Trade-ins?

To help fund your deposit on a car loan, you can use your old car as a trade in. The value of the car will then be used to be put toward the car purchase.

For instance, if your old car is worth $1,000, that amount will be used as the deposit and will knock $1,000 off the final price tag. The lender will assess the value of your car before establishing how much more you would owe on your car loan.

If you have an old car but are still paying a loan on it, the dealer/lender would pay off the remainder of the loan (if they agree), which would then remove the lien on the car.

Ownership of the car is then transferred to the dealer. Whatever value remains would then go toward your new car. That said, this only works if your car is worth more than what you still owe.

If your loan amount outstanding is more than what your car is worth, the situation would be a little different.

Let’s say you still owe $3,000 on a car that’s only worth $2,000. That difference of $1,000 would have to be rolled into the new car loan. So, if the new car costs $25,000, you would need to take out a loan of $26,000.

Trying to decide between a new car and a used one? This infographic is for you.

In Need of a Car Loan Kitchener?

Let’s face it: cars are very expensive and can be really tough to pay for all in cash. Luckily, there are car loans in Kitchener available to help make this large purchase possible.

If you’re in need of a car loan, get in touch with Loans Canada. We’ll guide you to the appropriate lender who can help you fund your new car purchase! Call us today!

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