Car Loans - RBC Royal Bank

Experience the RBC Difference

We want to help you fulfill your goals, where and when it's convenient for you. That’s why RBC has provided a wide array of convenient tools and resources to help you finance your next vehicle at the dealership and manage your loan online!

My Auto Affordability Tool

See how much car you could afford with the My Auto Affordability Tool. Find out the value of your trade-in vehicle and discover what kind of loan suits you best⁴.

Get Pre-Qualified

Car Loan Calculator

Want to see what your car payments might look like? Easily calculate your payment amount with our Car Loan Calculator and see how your interest rate, down payment and financing term could affect your payments.

Calculate

Dealer Locator Tool

Get RBC financing with selected dealers where you purchase your next vehicle. Ask for RBC financing at a dealer near you.

Find a Dealer

Get Pre-Qualified

Calculate

Find a Dealer

Save Cash on Every Fill-Up

Save 3 ¢ per litre on gas at Petro-Canada^†, plus earn 20% more points when you pay with your eligible RBC debit or credit card linked to a Petro Points card^2,3

Find Out How (opens to another site)

Solutions For All Your Vehicle Needs

Whether you’re buying a new car or a used truck, a boat or an RV, we offer loans to help you purchase and finance your next vehicle – whatever its size, shape, model or year.

Car Loans Through a Dealer

Get an RBC car loan where you purchase your car – like at 4,500+ participating car dealerships across Canada.

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RV and Marine Vehicles

Spend time searching for your next adventure. Enjoy the convenience of financing a boat or RV through RBC at a participating dealership near you.

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Electric Vehicles

Enjoy access to special EV financing rates, flexible payment options and range of solutions when you finance your EV through RBC. Plus, you can ask for RBC financing where you purchase your car.

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Your First Car

From choosing your first car to getting the financing you need, we’re here to help.

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Your Next Car

Upgrading? Downsizing?
We can help you get behind the wheel faster.

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Manage Your next Car Loan

Already have an RBC car loan? Learn more about managing your car loan online

Find a Dealer

Business Vehicles

Whatever the size of your business, we have the financing options that will help get your business on the road.

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New to Canada?

If you’re new to Canada within the last three years, our Newcomer Automotive Loan Program^1Disclaimer makes it easier to buy a car with no Canadian credit history.

Find Out HowLearn more about the Newcomer Automotive Loan Program

Top Automotive Frequently Asked Questions

How can I apply for an auto loan with RBC?

Visit a participating dealership and ask for an auto loan with RBC for a car, electric vehicle (EV), RV, or marine vehicle. Find an RBC partner dealership near you.

If I purchase a car from a dealer, can I finance it with RBC?

Yes! We offer the convenience of financing and competitive rates at over 4,500 dealerships in Canada. You can finance your car at any dealer enrolled in the RBC program by asking your dealer for RBC financing and getting approved. Find a dealer for access to vehicle financing with any dealer enrolled in the RBC program by asking your dealer for RBC financing and getting approved. Should you prefer, you may apply for a Personal Loan directly with RBC with competitive rates for your auto loan purchase, visit our Personal Loans page.

What should I consider before buying a car?

There are a number of factors to consider and they will depend on your needs, preferences, and budget. Examples include: What type of vehicle do you want? What is your budget? New or used? Buy or lease?
Please visit Buying Your First Car or Buying Your Next Car pages to learn more about the car buying journey⁵.

What are the key features of an auto loan with RBC?

Key Features of an auto loan with RBC include:

Competitive Interest Rates: Get a competitive rate when financing with RBC. Special financing rates are available through our featured partner manufacturers.⁶

Apply where it’s convenient for you: Choose financing for your vehicle at one of our partner dealerships.

Flexible payment options: ay monthly, semi-monthly, bi-weekly or weekly. There’s no penalty to pay off your loan early.

Financing solutions that match your needs: Choose a term from 1 to 8 years with financing available for units up to 10 years old.

Have additional Automotive questions?

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Stay on Top of Your Car Loan with RBC

Enrol in RBC Online Banking to check on the status of your loan, make payments and more.

Enrol Now

Questions or concerns about your vehicle loan or RBC products and services?
Contact us at 1-800-769-2511

Discover and Learn

5 Steps to Finding the Right Vehicle

Read The Article

Important Questions to Ask Before Financing a Car

Read The Article

5 Things to Know Before Applying for Auto Financing

Read The Article

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^®/^TM

Trademark(s) of Royal Bank of Canada.

†

Petro-Canada is a Suncor business. Trademark of Suncor Energy Inc.

RBC automotive financing products are offered by Royal Bank of Canada by way of conditional sales contract (in Quebec, installment sales contract) and are subject to its standard lending criteria.

Available to permanent residents and temporary foreign workers who have been in Canada less than 3 years. Down payment of up to 15% cash equity on the amount to finance may be required. Maximum financing term is 96 months with a maximum loan amount of $75,000. No credit history required on vehicles less than 10 years old, provided you meet all of the eligibility and credit criteria of Royal Bank of Canada.

To participate in this offer, you must have an RBC debit or credit card which is issued by Royal Bank of Canada (excluding RBC commercial credit cards) (“RBC Card”). RBC Business Clients will only be able to link up to two (2) Business Credit Cards and one Business Debit Card to a Petro-Points card. You must be enrolled in RBC Online Banking or RBC Mobile app in order to link your RBC Card to your Petro-Points card. Card linking may take up to 2 business days to process before savings and bonus points can be applied to purchases. A Linked RBC Card means an RBC Card linked to a Petro-Points account. Your Linked RBC Card acts as your Petro-Points card. You will automatically earn Petro-Points when you pay for qualifying purchases with your Linked RBC card at retail Petro-Canada locations and you do not need to swipe your Petro-Points card before you pay. You can redeem your Petro-Points at Petro-Canada using your Linked RBC Card. Each time you use your Linked RBC Card to purchase any grade of gasoline, or diesel, at a Petro-Canada Location, you will save three cents ($0.03) per litre at the time of the transaction.

Each time you use your linked RBC Card to pay for qualifying purchases at a Petro-Canada location, you will earn a bonus of twenty percent (20%) more Petro-Points than you normally earn, in accordance with the Petro-Points terms and conditions available at www.petro-canada.ca/en/personal/terms-conditions. Petro-Points are not awarded on tobacco products, vaping products, gift cards, transit tickets and taxes on non-petroleum purchases. Only certain RBC credit cards earn RBC Rewards points. Each time you use your linked RBC Card that earns RBC Rewards points to pay for purchases at a Petro-Canada location, you will earn a bonus of twenty percent (20%) more RBC Rewards points than you normally earn for every $1 in purchases in accordance with the RBC Rewards Terms and Conditions at www.rbcrewards.com/#!/terms-and-conditions. Please allow up to ninety (90) days from the date the transaction is posted on your credit card statement for the bonus points to be deposited into your RBC Rewards account.

⁴

This is an automotive lending prequalification only, and not an automotive lending approval or pre-approval. The RBC My Auto Affordability Tool (“Tool”) provides an estimate of the amount of auto finance loan you may qualify for with Royal Bank of Canada based on the accuracy and completeness of information provided at the time of completion. You must submit a separate application for an automotive lending approval or a pre-approval and a full credit report, which will be subject to formal verification processes and assessed on current credit adjudication policies. You should not waive any financing condition based on the results of this Tool. For full Tool terms and conditions, visit https://www.rbcroyalbank.com/car-loans/maat/tc.html (opens in new window).

⁵

The information at these links is for illustrative and general information purposes only, and is not intended to provide specific financial or other advice, and should not be relied upon in that regard.

⁶

Financing rates available at participating dealerships on select vehicles.