Apply for a car loan
Get StartedAlberta's largest city is also a place where almost everyone drives — and they need a reliable vehicle to do it. That's where our popular car loan service comes in: we help Calgary drivers get the financing they need to buy a vehicle, even if they have bad credit or no credit.
Our auto loans in Calgary are easy to get, and the entire process is fair, transparent, and fast.
Just provide us with some basic information to get started (no social insurance number required), and we'll match you up with a lender or dealer in the city.
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 Calgary are market-competitive.
Yes. The lenders and dealers in our network process bad credit car loans all the time. In fact, that's their specialty. As soon as you've found new employment we can get you a car loan.
You must be employed, be 18 years of age or older, make $1,500 per month, have a driver's licence, and be a Canadian resident.
No. Car loans are still widely available to employed buyers, although some Calgarians are having trouble making their payments. Delinquency rates are rising across Alberta as the oil slump continues. Credit agency TransUnion says delinquency rates on auto loans and leases increased to 2.4% in early 2016, meaning 2.4 out of every 100 car loans and leases is 60 days or more past due.
While new car sales have fallen in 2015 and 2016, the Calgary Motor Vehicle Association says used car sales are up as drivers search for more affordable alternatives.
Your loan amount, the duration of your loan (how many months), and the interest rate you're being charged will determine the size of your monthly payments.
This is what your payments would be over different periods of time on a $15,000 car loan with an interest rate of 8%:
Monthly payments on a $15,000 car loan (at 8% interest)
| Length of car loan | Car loan payment |
|---|---|
| 24 months | $678 |
| 36 months | $470 |
| 48 months | $366 |
| 60 months | $304 |
| 72 months | $263 |
| 84 months | $234 |
| 96 months | $212 |
Most likely. Our car loan network boasts hundreds of lenders and dealers across Canada. We operate throughout Greater Calgary, so you probably won't have to travel far to get your Alberta car loan (and your new set of wheels).
Secure your auto financing before you shop for a new vehicle. That way, you'll know exactly how much vehicle you can afford.
Your payments will be bigger, but a short car loan will save you a significant amount of money on interest. Ask about 24, 36, or 48-month loans when you talk to your lender or dealer.
Dealers in Calgary are regulated by the Alberta Motor Vehicle Industry Council (AMVIC) and are required to follow various rules and guidelines aimed at protecting buyers.
Licensed dealers in Calgary (and the rest of Alberta) must provide a Mechanical Fitness Assessment (MFA) before selling a vehicle. The MFA document will outline which components and parts either work or don't work. An MFA is valid for 120 days from the date of assessment.
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