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What our users say:

Based on 322 reviews
June 5
Awesome work
wow what an awesome rep. He did up everything, extremely fast and was very under...
Delroy Paul
June 4
It was a pleasure dealing with your…
It was a pleasure dealing with your broker, it made switching insurance companie...
Michael Sheridan
May 27
Excellent customer service
This is the first time I got insurances from Direct Rate.I have nothing but good...
Tejas Patel
May 26
Quick service
Quick service, good price
May 22
Imad Harrouk was great !
Imad Harrouk was great ! intelligent well spoken professional polite a perso...
james bannon
May 21
Imad Harrouk helped me get the best…
Imad Harrouk helped me get the best home and auto bundle insurance quote. He was...
Amanda Moskowitz
May 20
Excellent !!! Very competitive rates !!
Excellent customer services also they have very competitive rates !!
Eliza Gallant
May 20
Excellent Service
Sonia was patient with all of my questions, helpful and cheerful through the ent...
Cori Thompson
May 20
Imad Harrouk helped us with getting a…
Imad Harrouk helped us with getting a car insurance quote. He was very friendly ...
May 18
I was treated fairly and walked through…
I was treated fairly and walked through my purchase.I enjoyed the agent was exce...
paul neville
May 17
Highly Recommended !
I spoke with Mr. Imad Harrouk of DirectRate for quotes on my car and condo insur...
May 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
May 13
Amazing service
Amazing service, Sonia is patient and helpful. Can not complain. I am happy with...
Miroslav Adalbert Elias
May 12
Meghan Ford helped me and she was…
Meghan Ford helped me and she was amazing. I saved $160/month between home and a...
May 11
Easy, clear and fast. Very effective.
Rene Izquierdo de la Cruz
May 6
Sonia was very helpful and nice…
Sonia was very helpful and nice throughout the whole process. She got me the bes...
Ali Al-Rubayee
May 6
Very friendly and professional
Very friendly and professional. She always try to help. Really appreciate.
Binod Shrestha
May 5
He was so amazing
He was so amazing. He went out his way to help me. He deserves a raise Very po...
Shahin Abbaskhan
April 27
Great rates!
Ryan was very helpful and polite.He went all out to find me the best rate. He wa...
Linda Shelton
April 22
The service was excellent
The service was excellent. Emad provided awesome service for me.
John Bowden
April 19
Fast and professional customer service
Fast and professional customer service. All of my questions were answered and I...
April 16
Chelsea was very helpful and a pleasant…
Chelsea was very helpful and a pleasant person to deal with.
Keith Tarala
April 16
simple quick and easy
simple, quick and easy
tony palumbo

How it works. Hint: It's free!

  1. Enter your information.
  2. Get matched with a dealership and get approved for a loan.
  3. Choose a vehicle from the dealership offering you a loan.

Get approved for a car loan in Newfoundland and Labrador. Just like that.

Owning a car in Newfoundland and Labrador isn’t required, but it sure makes life easier. That’s why we launched a car loan service in your province — to make getting financing for your vehicle as transparent and hassle-free as possible, even if you have bad credit or no credit at all.

We can help you even if you have:

  • Bad credit.
  • No credit.
  • Good credit.
  • Late payments.
  • Repossession.
  • Collections.
  • A bankruptcy.
  • A divorce.
  • New Canadian status.

Newfoundland and Labrador car loans made easy.

We’re proud of the car loan service we offer. Here’s why applying for a car loan online through is the better way.

Your Newfoundland and Labrador car loan questions, answered.

Does only work with specific car dealers in Newfoundland and Labrador?

Yes. We work with an exclusive network of lenders and dealers who specialize in financing for Newfoundland and Labrador residents who don’t have great credit. Just apply and we’ll match you with a dealer.

How much tax do I need to pay on a car purchased in Newfoundland and Labrador?

Bad news: on July 1st, 2016, the retail sales tax (RST) on used vehicles in Newfoundland and Labrador was raised from 14% to 15%. That’s one of the highest sales tax rates in Canada.

How is the interest rate on my loan calculated?

That’s largely determined by the dealership providing you with the loan. Dealers set rates based on a number of different factors: your credit, income, employment history, loan amount, etc.

Should I choose a long car loan term or a short car loan term?

If you can afford larger monthly payments, choose a short loan — you’ll pay your car off faster and also pay less interest.

If you need to break the amount you’re borrowing into smaller, more manageable chunks, opt for a longer loan. Check out our graph below to see what your monthly payments might look like on an $8,000 car loan at 8% interest.

Monthly payments on a $8,000 car loan (at 8% interest)

Length of car loanCar loan payment
24 months$362
36 months$251
48 months$195
60 months$162
72 months$140
84 months$125
96 months$113

About our auto loan network.

  • It's nationwide, servicing all provinces.
  • It's a free, fully secure, no obligation loan service.
  • It provides car loans that range from $5,000 – $40,000.
  • It offers market competitive interest rates, speedy approvals, and affordable payments.
  • It boasts a 100% acceptance rate, even if you have no credit or bad credit.

Newfoundland and Labrador car loan tips

Get your loan first

Secure your car loan before you shop for a vehicle. That way you’ll know which cars you can afford and how high your monthly payments will be. You’ll also be able to negotiate strictly on the price of the car, rather than the price and the financing, which can put you at a disadvantage.

Go for a test drive

Always take a car out on the road before you purchase it. Test the signal lights, heating and cooling, brakes, etc., and listen for rattles or other strange noises. Does the car feel solid and well-built?

Understand your total financing costs

To calculate the actual cost of your new or used vehicle, consider your loan amount, what interest rate the dealer is offering, and how long your loan term is. Remember: you pay more interest on a longer car loan, and your car depreciates in value as the years go by.

Get your car inspected by a mechanic

In Newfoundland, it’s definitely ‘buyer beware’ when it comes to used cars. That's why you need to enlist a mechanic to give your vehicle a thorough inspection before you sign on the dotted line.

Newfoundland and Labrador car loan facts

  1. Car dealerships abound in Newfoundland and Labrador. There are 35 dealers in St. John’s, 31 in Burlington, and at least 15 in Gander. Even better: some of these dealers are in our car loan network.
  2. Newfoundland and Labrador drivers bought a total of 3,833 new vehicles in April 2016. That’s up from 2,821 new vehicles in March.
  3. Road work abounds in St. John’s. The city is currently in the midst of a $270 million infrastructure project, which means lots of construction and plenty of disruption and inconvenience for drivers.

Newfoundland and Labrador car loan myths

  1. Interest rates are higher in Newfoundland and Labrador than in other provinces. False. Car loan rates are very competitive in Newfoundland and Labrador, and overall financing costs are on par with other jurisdictions in Canada.
  2. If you're unsatisfied with your used vehicle, you have 30 days to return it in Newfoundland and Labrador. False. There are no laws in the province which require sellers to take back a faulty vehicle. In other words, your purchase is final. That’s why it’s so important to thoroughly test drive and inspect any vehicle you’re considering buying.
  3. You don’t need to do a vehicle inspection if you buy a car through a dealership. False. Newfoundland and Labrador doesn’t have many of the rules and regulations that govern dealerships in other provinces. It’s especially important to have an independent mechanic inspect your vehicle before you buy.
  4. Newfoundland and Labrador car sales are in decline. False. Despite a struggling provincial economy, car sales increased 0.6% from April 2015 to April 2016, according to Statistics Canada.

Car loan news

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