Average Used Car Loan Interest Rates

Updated in May, 2023

Prime loans

Used Vehicles
6.98% and more
  • + 0.3% from last month

Subprime loans

Used Vehicles
11.99 % and more
  • Stable from last month

Deep Subprime loans

Used Vehicles
18.99% and more
  • - 1% from last month

current used car loan interest rates

Used car loan rates currently start at 6.98%. (subject to variation on year, mileage and term)

Our credit analysts’ role is to secure the most favorable interest rate for you while customizing the payment terms to fit your budget.

Acces Credit

starting at 15.90%

Bank of Montreal

starting at 8.99%

Industrial Alliance

starting at 10.99%

Auto Capital Canada

starting at 11.99%


starting at 7.74%

Iceberg Finance

starting at 12.99%

Avantage Scotia

starting at 7.69%


starting at 6.98%


à partir de 11.99%

Axis Auto Finance

starting at 9.99%


starting at 7.99%

TD Bank

starting at 7.99%

Eden Park

starting at 8.99%


Financial institutions set interest rates.


We put them in competition and negotiate the best deal for you.


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