New to Canada and need a vehicle? Learn how auto financing for new Canadians works, which documents can strengthen your application, how to start building Canadian credit, and what can help you receive a financing decision quickly. Moving to Canada comes with plenty of firsts: your first Canadian job, first bank account, first winter—and, for many people, your first vehicle. If you need a car, SUV, truck, sedan, or minivan for commuting or family life, having little or no

Learn the most important auto financing terms in Canada—including APR, loan terms, negative equity, down payments, and total borrowing costs—before choosing your next vehicle. Buying a car should not require a finance degree. But when terms such as APR, loan term, negative equity, principal, down payment, and pre-approval start appearing on paperwork, it can be difficult to know what actually matters.