Financing Solutions

Car Loan

Have you found that rare gem, a new vehicle that's got everything you’re looking for? So now you want payments that work with your budget...right? Or maybe you're planning to buy a used vehicle from another person.

Either way, we strongly encourage you to read this page. When choosing the best financing solution for your needs, you need to do your homework just like when you’re buying a vehicle. Shop around and above all, take the time to get all the information you will need.

Regardless of the financing solution you choose, by protecting yourself with loan insurance, you can ensure that your dream will live on, even when the unexpected happens.

Apply for a car loan

Benefits

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Customize your car loan1 by choosing a fixed or variable interest rate.
Get access to flexible payment terms: weekly or monthly payments with the option to prepay in part or in full at any time and with no penalty.
Take up to eight years2 to pay back your loan. Take advantage of this extended repayment period to choose a vehicle model or optional features that meet your needs, like extra cargo space or a more energy-efficient car.
Example

Let’s assume that your monthly budget is $400. The following table shows you the cost of the vehicle you can afford based on different repayment periods.

Monthly Payment Loan Term Interest Rate and APR3 Loan Amount
$400 4 years 7.59%4 $16,514.65
5 years 7.49%5 $19,966.86
6 years 7.49%6 $23,141.09
7 years 7.49%7 $26,086.94
8 years2 7.49%8 $28,820.85

As you can see, with an eight-year car loan2, you can buy a more expensive vehicle while sticking to your monthly budget.

The data in this table is hypothetical and is used to illustrate the benefits of this product in identical conditions. This data does not create any legal or contractual obligation for National Bank.

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Montreal 514 394-5555
Outside Montreal 1 888 TELNAT-1
(1 888 483-5628)

1 Subject to credit approval by National Bank.
2 Subject to credit approval by National Bank. Certain conditions apply.
3 APR means "Annual Percentage Rate" and represents the total interest and fees charged by the Bank, expressed as an annual percentage. It corresponds to the annual interest rate if the cost of borrowing is comprised exclusively of interest.
4 Example based on financing of $16,514.65, with a four-year term and a hypothetical rate of 7.59%.
5 Example based on financing of $19,966.86, with a five-year term and a hypothetical rate of 7.49%.
6 Example based on financing of $23,141.09, with a six-year term and a hypothetical rate of 7.49%.
7 Example based on financing of $26,086.94, with a seven-year term and a hypothetical rate of 7.49%.
8 Example based on financing of $28,820.85, with an eight-year term and a hypothetical rate of 7.49%.


See also...

Prepare your budget
Determine your borrowing capacity
Calculate your monthly payments
Check your credit record



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(514) 394-5555
1-888-4-TelNat
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