Need the best car loan in Prince Edward Island? You’re already en route.

Apply for a car loan

Get Started

0 Canadians

have compared rates and saved money over the last 24 hours

What our users say:

Based on 312 reviews
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 7
I was looking for the cheapest…
I was looking for the cheapest insurance I can find and Imad helped me so much. ...
Janine Ferrigon
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
I got a hassle-free quick quote from…
I got a hassle-free quick quote from good insurance companies. This site is very...
May 6
Very friendly and professional
Very friendly and professional. She always try to help. Really appreciate.
Binod Shrestha
May 5
Imad was extremely helpful and patient…
Imad was extremely helpful and patient with all our requests. He listened to our...
Guy St-Pierre
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
May 4
Thanks for your help
Though unable to match my current insurance providers quote, Sonia handled my in...
Kent Warnock
April 29
Very accommodating and explained the…
Very accommodating and explained the pros and cons of insurance clearly..
April 27
Excellent Service
Ryan was over and beyond helpful and very detailed on getting me the best insura...
Adam Mckenzie
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
Wonderful experience!!!
My call started off with simple inquiries about the quote i recieved. I spoke wi...
emily murray
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
April 16
Happy Friday!!
Customer service was GREAT!
April 14
Excellent service
Excellent service. Thanks Chelsea
Nishanthan Ganeshan
April 11
Within minutes
Within minutes, I had results and was able to make my decision right after. Lowe...
Terry L
April 9
Knowledgeable and communicated…
Knowledgeable and communicated thoroughly.
April 8
Very helpful
Very helpful Thank you
Kamaljit S Sond
April 8
Five stars all the way
Five stars all the way. I found thus web page pretty awesome
Thomas Cowan

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.

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.

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.

Car loan news

Read More Like This