Have you found that rare gem, a new or used vehicle that has everything you’re looking for, and now you want payments that work with your budget? Or are you 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, just like when you’re buying a vehicle, you need to do your homework. Shop around and, above all, take the time to get all the information you’ll need.
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 could afford based on different repayment periods.
Monthly payment
Loan term
Interest rate and APR3
Loan amount
$400
4 years
6.19%4
$17,025.14
5 years
6.19%5
$20,679.76
6 years
6.19%6
$24,121.35
7 years
6.19%7
$27,362.33
8 years2
6.19%8
$30,414.38
As you can see, with an eight-year car loan2, you can buy a more expensive vehicle while still sticking to your monthly budget.
The data in this table are hypothetical and used to illustrate the benefits of this product in identical conditions. These data do not create any legal or contractual obligation for National Bank.
Montreal 514 394-5555
Outside Montreal 1 888 TELNAT-1
(1 888 483-5628)
1 Subject to credit approval by National Bank. 2 Subject to credit approval by National Bank. Financing available for an amount of 15 000$ or more for a 2009 model years and more recent and financing available for an amount of 25 000$ or more for a 2005 model years and more. 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 The example is based on financing of $17,025.14, with a four-year term and a hypothetical rate of 6.19%. 5 The example is based on financing of $20,679.76, with a five-year term and a hypothetical rate of 6.19%. 6 The example is based on financing of $24,121.35, with a six-year term and a hypothetical rate of 6.19%. 7 The example is based on financing of $27,362.33, with a seven-year term and a hypothetical rate of 6.19%. 8 The example is based on financing of $30,414.38, with a eight-year term and a hypothetical rate of 6.19%.
Prepare 
