Used Car Interest Rates 2024 Canada Today. A typical rule lenders use is to never approve car payments in excess of 18% of your total monthly income. One of the biggest draws of car loans canada is the fact that it is a free resource, which means that you won’t have to worry about any backlash on your credit.
Kelley blue book picked it for best. According to the latest data from statistics canada, the average car loan interest rate in canada for new loans as of june 2024 was 7.59%.
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