The TOP - 6 secured car loans for purchase of a new car for 5 years19.10.2020
Bankchart.ca has surveyed the terms of the offered secured car loans for purchase of a new car for 5 years in the national currency. Our website's analysts have studied the loan offers from all Canadian banks, which place rates on their websites. Review date - 19.10.2020
As of 16 October 2020 the loans under review have been offered by 6 banks. The average interest rate under such loans equals 4,71 % p.a. The total number of the loan programs available for the specified loan terms is 10.
The most affordable car loan is offered by Scotiabank. The interest rate under "Auto Loans (variable)" loan program constitutes 2,99 % p.a. The table below shows the best offers by each bank selected by Bankchart.ca (in terms of costs) for the aforementioned terms.
The TOP - 6 secured car loans loan programs for purchase of a new car for 5 years, as of 16 October 2020
#
Bank
Interest Rate, %
1
2,99
interest rate, %
one-time fees
no
periodic fees
no
advance from
0,00 %
2
3,45
interest rate, %
one-time fees
no
periodic fees
no
advance from
0,00 %
3
3,99
interest rate, %
one-time fees
no
periodic fees
no
advance from
0,00 %
4
4,75
interest rate, %
one-time fees
no
periodic fees
no
advance from
0,00 %
5
7,50
interest rate, %
one-time fees
no
periodic fees
no
advance from
15,00 %
6
10,00
interest rate, %
one-time fees
no
periodic fees
no
advance from
0,00 %
To view the up-to-date rating of the car loans at our website, click here.
Published: 19 October 2020
Author: Prostobank Consulting
Source: https://bankchart.ca