Car Loans

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.

car loan

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.


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


4 years



5 years



6 years



7 years



8 years2



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.

  • Call us

    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%.

Suggested reading to help you make the right choice

Useful links

Did you know...

National Bank does business with over 2,300 dealerships across Canada. When you go to a dealership to apply for financing, you can choose the financial institution you would like to deal with. Be sure to ask for us by name.

Our other financing solutions

National Bank All-In-One TM

All-In-One makes it possible to use the equity of your property or investments to consolidate your financing needs, while providing access to your funds at all times.

Personal Flex Line TM

Use a Personal Flex Line to purchase your dream car or make other life goals a reality. Available for amounts of $5,000 and up, it gives you the freedom to get your projects in gear.