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CIBC Personal Car Loan

This can put you behind the wheel of a new or used vehicle with up to 7 years to pay off the loan - and you may not even need a downpayment.

When you need to buy a vehicle, a CIBC Personal Car Loan can provide up to 100%1 of the funds you need to get on the road. You have the flexibility to choose either Fixed or Variable interest rates and the frequency of your payments.

Interested in applying for a CIBC Loan or Line of Credit?

Apply online, call Telephone Banking at
1-866-525-8622 or visit one of our branches.

Apply Online

Is it for you?

CIBC Personal Car Loan could be for you if any of the following apply:

  • You want to buy a new or used vehicle.
  • You find it easier to budget with a specific regular payment amount.
  • You want maximum flexibility in choosing the terms of your loan.

Key Benefits


Saves You Money
  • Pay off all or part of the loan at any time without penalty.
  • Cut interest costs by making more frequent payments.
Flexible
  • You may not need a downpayment to purchase your vehicle.
  • With up to 7 years (84 months) to pay off your loan, you can keep the payments low.
  • Choose either a fixed or variable interest rate.
  • Choose weekly, bi-weekly, semi-monthly or monthly payments to coincide with your pay period.
Convenient
  • Fully automated process speeds approvals.
  • Electronic Funds Transfer (EFT) can automatically make scheduled payments from your CIBC account at no charge.
  • You can also make payments in person at any CIBC branch.

Information you need to know:

  • There are no costs to apply.
  • Variable Rate Loans are based on CIBC Prime* lending rate.
  • Borrow a minimum of $5,000.
  • Once you've been approved for a CIBC Personal Car Loan, your information only needs to be updated for future credit applications.

Trademarks and Disclaimers

Applicants must meet all CIBC lending criteria. Certain conditions and restrictions apply. Products and their features may change at any time. This is a general description only; for more information and product terms and conditions, consult product brochures or call 1-866-525-8622.

1 Loans and loan amounts are subject to standard credit approvals.

* CIBC Prime is the variable rate of interest per year declared from time to time to be the prime rate for Canadian dollar loans made by CIBC in Canada. The interest rate on your loan will change whenever CIBC Prime varies.