When you’re ready to buy your next car, one of the biggest factors that will impact your total cost is the interest rate on your loan. Whether you’re shopping for a brand-new vehicle or a reliable used one, understanding car loan interest rates in Canada can help you save thousands over the life of your loan. The good news is that there are many ways to secure the best deal possible, no matter your financial background. From knowing what affects your rate to exploring loans for all credit types, let’s break down how to find the most competitive interest rates available.