Apply for a car loan
Get StartedMost Albertans need a vehicle to get through the workweek, buy groceries and take the kids to school. At LowestRates.ca we understand that, which is why we provide a fast, reliable, easy to use car loan service.
We work with all Alberta drivers, regardless of your credit score. Whether you live in Calgary, Edmonton, Fort McMurray or anywhere else in the province, we’ll match you up with a dealer who can get you financing.
We’re proud of the car loan service we offer. Here’s why applying for a car loan online through LowestRates.ca is the better way.
Applying only takes a few minutes.
Got bad credit or no credit at all? Don't sweat it.
Our auto loans range from $5,000 to $40,000.
Your info only goes to the dealer we match you with.
There's no charge to use our car loan service.
Our auto loan rates in Alberta are market-competitive.
Yes. Our car loan service extends well beyond the big cities in Alberta. You can get a car loan in Edmonton or in Calgary, but you can also get a loan in smaller areas, like Grande Prairie or Lethbridge. Just complete the application process and one of our partners will reach out within 48 hours.
You’ll definitely be able to get a car loan through our site if you’ve found new employment. We know that many Alberta drivers have been hurt by the weak economy but still need a vehicle to get to work and run errands. We encourage you to apply — even if your credit history is damaged.
You’ll have to pay a 5% (GST) sales tax when you buy your car. Alberta drivers pay the lowest sales tax in Canada.
Our auto loan rates in Alberta get set by the lender providing the financing. Most of the time, those rates are based on your financial profile (employment, monthly income, etc.) and the size of your loan.
Although the recession in Alberta is hurting overall vehicle sales (new car sales have declined 6% in 2016), it’s still easy to get a car loan in the province if you’re employed.
Your car loan payment is determined by the size of your loan, the length of your loan, and the interest rate your lender is charging.
Here’s what your monthly payments would look like over different lengths of time if you took out a $9,000 car loan at 8% interest:
Monthly payments on a $9,000 car loan (at 8% interest)
| Length of car loan | Car loan payment |
|---|---|
| 24 months | $407 |
| 36 months | $282 |
| 48 months | $220 |
| 60 months | $182 |
| 72 months | $158 |
| 84 months | $140 |
| 96 months | $127 |
You can purchase a Vehicle Information Report from your local registry agent. These reports include important details about the car, including registration history in Alberta, official odometer readings, and any liens placed on the vehicle.
If you can afford it, choose a car loan with a shorter term. Your monthly payments will be higher, but the amount of interest you’ll pay on the loan will be lower. In the end, you’ll end up paying a lot less for your vehicle if you take a shorter loan.
Dealers are licensed through the Alberta Motor Vehicle Industry Council, the province’s auto industry watchdog. Licensed dealers are required to follow specific guidelines that help protect Alberta car buyers.
Understand how much the vehicle you’re interested in will actually cost you over time. Consider sales tax, financing costs, insurance, gas mileage, and maintenance.
Car BuyingIt's important to look at what’s going on with auto insurance rates, 0% financing offers, and depreciation.
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AutoLike most industries across the globe, the automotive market in Canada has been deeply impacted by the coronavirus pandemic.