Auto loan interest rates in Canada vary from lender to lender, and according to each borrower's circumstances. The range is quite large from 0% to 30% - and used vehicles are often charged a higher auto loan rate than new vehicles. Online lenders may have more competitive rates than banks and other traditional financial institutions. The exact car loan interest rate you will be charged depends on your credit score (with higher credit scores qualifying you for lower rates), your monthly income, any down payment on the vehicle, the vehicle specifics, and the term of the loan.