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What our users say:

Based on 331 reviews
July 15
Auto Insurance
I was looking for an insurance rate that would help me save money, I did a Googl...
Louise Beaton
July 7
Great and honest service !!!
Meaghan Ford was amazing with her service and very patient in explaining all the...
Zee Sajid
July 1
excellent service
excellent service
An Luu
June 22
Highly recommended
Excellent customer service. Was very patient and answer my customers toughly. Fo...
Karan Parmar
June 18
Chelsea was very helpful
Chelsea was very helpful, answered all my questions and set me up hassle free. S...
June 11
Very nice broker
Very nice broker. Good service. Found a great deal.
Meredith Berggren
June 9
Simple, fast, affordable!
Took a little longer than expected for the billing to go through, but otherwise...
Jonathan C
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 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 14
Highly recommend
Great experience, simple to use and they gave me a lot of options at prices that...
Chandra Wilson
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...

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 Prince Edward Island. Just like that.

Think it’s difficult to get a bad credit car loan in Prince Edward Island? Think again. Our car loan service makes it easy for you to get the financing you need to buy a car.

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.

Prince Edward Island 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 Prince Edward Island car loan questions, answered.

How do I qualify for a car loan through your site?

We only have a few basic requirements for drivers in PEI (and the rest of Canada). For your car loan application to be approved, you need to be a resident of Canada, have a full license, be 18 or older, and earn $1,500 per month or more.

Does only work with specific car dealers in Prince Edward Island?

Yes. These dealers are part of our nationwide auto loan network, and they specialize in bad credit auto financing for Canadian drivers. So if you have bad credit or no credit, don’t sweat it: we’ll match you with one of these dealers in PEI and help you quickly get approved for a loan.

How much tax do I need to pay on a car purchased in Prince Edward Island?

Currently, the sales tax (HST) on vehicles in Prince Edward Island is 14%. But that’s set to change: in October 2016, the HST rate in PEI will increase to 15%.

How do you set the interest rate on my car loan?

Your rate is actually set by the dealer offering you the loan, and it’s based on a number of different factors, such as your credit, income level, employment history, and loan amount.

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

Longer loan terms result in smaller monthly payments, but there’s a downside: you’ll end up paying more money toward interest, and, for a few years, you’ll probably owe more on your loan than your car is worth. Why? Because you’ll be paying off your loan balance slower than your vehicle is depreciating.

Here’s what your monthly payments would look like over different lengths of time 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.

Prince Edward Island car loan tips

Get the loan first

Get your car loan before you shop for a vehicle. You’ll be able to set a realistic budget before you get to the dealership and you’ll know which vehicles you can actually afford.

Buy from a registered vehicle dealer in PEI

Registered dealers have to follow a set of rules and regulations aimed at protecting buyers from fraud and generally shady practices.

Look at the total cost of owning a vehicle

Owning a car is expensive. Before you go ahead with your car loan, consider all the other costs of owning a vehicle: regular maintenance, repairs, gas bills, and, of course, car insurance.

Go for a test drive

Take your car out on the road before you purchase it. See how the vehicle performs at different speeds and on a variety of different roads.

Prince Edward Island car loan facts

  1. Auto sales are on a roll in Prince Edward Island. New vehicle sales increased from 7,555 in 2014 to 7,976 in 2015.
  2. Prince Edward Island may be a small province, but it’s home to over 25 auto dealerships. Even better, a few of them are part of our auto loan network.
  3. Dealers in PEI need a license to buy and sell vehicles. In order to keep that license, they need to follow a variety of rules and regulations aimed at protecting consumers.
  4. It’s easy to get charged up in Prince Edward Island. PEI is one of the most EV friendly provinces in Canada, with more than a dozen electric vehicle chargers now operating across the island.

Prince Edward Island car loan myths

  1. Because Prince Edward Island is a small market, borrowers pay higher car loan rates. False. Borrowing costs in PEI are very much comparable to borrowing costs in other provinces.
  2. Bad credit auto financing is only available in large provinces like Ontario and Quebec. False. Bad credit auto financing is available in smaller markets throughout Canada. Prince Edward Island is a great example — our auto loan network operates in this province every day.
  3. You have 1 month (30 days) to return your used car and get a full refund. False. Unfortunately, there’s no return policy on used car purchases in Prince Edward Island. That’s why you need to take your prospective vehicle for a test drive before you buy.
  4. You don’t need to do a vehicle inspection if you buy a car through a dealer. False. While some PEI dealerships do conduct a vehicle inspection prior to selling, it’s always a good idea to have another, independent mechanic take a look at the car you’re interested in.

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