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