This personal car loan is for you if you want:
- Help with financing a new or used vehicle
- Lower monthly payments by taking up to 8 years (96 months) to pay off your loan, giving you maximum flexibility
- The choice of weekly, bi-weekly, semi-monthly or monthly payments to coincide with your pay periods
- To apply online for a faster approval
Other loan details:
- 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
- To make scheduled payments from your CIBC account at no charge with an Electronic Fund Transfer (EFT)
- Pay off all or part of the loan at any time without penalty
- You can also skip up to two payments yearly2
You may also want to consider:
- Using a personal loan to buy a used car
- Applying for a Home Power® line of credit for a lower interest rate and a higher credit limit
1 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.
2 At the discretion of CIBC, provided satisfactory payment status. Interest accrues during the payment holiday period.